10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

FORM 10-Q

x   QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2012

OR

o    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

For the transition period from ______________ to _______________

Commission File Number 0-16211

DENTSPLY International Inc.

(Exact name of registrant as specified in its charter)

Delaware	39-1434669
(State or other jurisdiction of	(I.R.S. Employer
incorporation or organization)	Identification No.)

221 West Philadelphia Street, York, PA	17405-0872
(Address of principal executive offices)	(Zip Code)

(717) 845-7511

(Registrant’s telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes   x No   o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Yes   x No   o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definition of “large accelerated filer” and “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer  x Accelerated filer  o Non-accelerated filer  o Smaller reporting company  o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).   

Yes   o No   x

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date:  At July 27, 2012, DENTSPLY International Inc. had 141,784,960 shares of Common Stock outstanding, with a par value of $.01 per share.

DENTSPLY International Inc.

TABLE OF CONTENTS

		Page
PART I	FINANCIAL INFORMATION
Item 1	Financial Statements (unaudited)	3
	Consolidated Statements of Operations	3
	Consolidated Statements of Comprehensive Income	4
	Consolidated Balance Sheets	5
	Consolidated Statements of Cash Flows	6
	Consolidated Statements of Changes in Equity	7
	Notes to Unaudited Interim Consolidated Financial Statements	8
Item 2	Management’s Discussion and Analysis of Financial Condition and Results of Operations	32
Item 3	Quantitative and Qualitative Disclosures About Market Risk	47
Item 4	Controls and Procedures	47
PART II	OTHER INFORMATION
Item 1	Legal Proceedings	48
Item 1A	Risk Factors	48
Item 2	Unregistered Sales of Securities and Use of Proceeds	48
Item 4	Submission of Matters to a Vote of Security Holders	48
Item 6	Exhibits	49
	Signatures	49

2

PART I – FINANCIAL INFORMATION

Item 1 – Financial Statements

DENTSPLY INTERNATIONAL INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share amounts)

(unaudited)

	Three Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012			2011
Net sales	$	762,994		$	609,443		$	1,479,407		$	1,179,946
Cost of products sold	355,525			294,592			679,188			565,111
Gross profit	407,469			314,851			800,219			614,835
Selling, general and administrative expenses	296,034			210,984			600,388			411,751
Restructuring and other costs	2,528			6,863			3,765			7,496
Operating income	108,907			97,004			196,066			195,588
Other income and expenses:
Interest expense	14,584			5,570			30,366			11,913
Interest income	(2,011		)	(2,430		)	(4,308		)	(4,258		)
Other expense (income), net	748			1,434			1,230			1,504
Income before income taxes	95,586			92,430			168,778			186,429
Provision for income taxes	14,875			17,957			29,590			41,669
Equity in net earnings (loss) of unconsolidated affiliated company	1,329			917			(2,919		)	93
Net income	82,040			75,390			136,269			144,853
Less: Net income attributable to noncontrolling interests	1,276			1,154			2,220			1,533
Net income attributable to DENTSPLY International	$	80,764		$	74,236		$	134,049		$	143,320
Earnings per common share:
Basic	$	0.57		$	0.53		$	0.95		$	1.01
Diluted	$	0.56		$	0.52		$	0.93		$	1.00
Weighted average common shares outstanding:
Basic	141,737			141,052			141,729			141,331
Diluted	143,863			143,373			143,908			143,694

See accompanying Notes to Unaudited Interim Consolidated Financial Statements.

3

DENTSPLY INTERNATIONAL INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(In thousands)

(unaudited)

	Three Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012			2011
Net income	$	82,040		$	75,390		$	136,269		$	144,853
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustments	(178,746		)	62,051			(45,275		)	152,767
Net gain (loss) on derivative financial instruments	47,089			(36,391		)	14,957			(63,403		)
Net unrealized holding (loss) gain on available-for-sale securities	(7,954		)	(6,233		)	15,046			(2,031		)
Pension liability adjustments	1,726			(1,500		)	1,666			(2,033		)
Total other comprehensive (loss) income	(137,885		)	17,927			(13,606		)	85,300
Total comprehensive (loss) income	(55,845		)	93,317			122,663			230,153
Less: Comprehensive (loss) income attributable
to noncontrolling interests	(928		)	3,833			1,356			7,476
Comprehensive (loss) income attributable to
DENTSPLY International	$	(54,917	)	$	89,484		121,307			222,677

See accompanying Notes to Unaudited Interim Consolidated Financial Statements.

4

DENTSPLY INTERNATIONAL INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(In thousands, except per share amounts)

(unaudited)

	June 30, 2012			December 31, 2011
Assets
Current Assets:
Cash and cash equivalents	$	53,210		$	77,128
Accounts and notes receivables-trade, net	462,233			427,709
Inventories, net	403,195			361,762
Prepaid expenses and other current assets	186,544			146,304
Total Current Assets	1,105,182			1,012,903
Property, plant and equipment, net	587,285			591,445
Identifiable intangible assets, net	947,747			791,100
Goodwill, net	2,036,084			2,190,063
Other noncurrent assets, net	194,458			169,887
Total Assets	$	4,870,756		$	4,755,398
Liabilities and Equity
Current Liabilities:
Accounts payable	$	145,850		$	149,117
Accrued liabilities	347,906			289,201
Income taxes payable	12,646			9,054
Notes payable and current portion of long-term debt	241,801			276,701
Total Current Liabilities	748,203			724,073
Long-term debt	1,482,783			1,490,010
Deferred income taxes	334,673			249,822
Other noncurrent liabilities	316,098			407,342
Total Liabilities	2,881,757			2,871,247
Commitments and contingencies
Equity:
Preferred stock, $.01 par value; .25 million shares authorized; no shares issued	—			—
Common stock, $.01 par value; 200.0 million shares authorized; 162.8 million shares issued at June 30, 2012 and December 31, 2011.	1,628			1,628
Capital in excess of par value	230,862			229,687
Retained earnings	2,654,044			2,535,709
Accumulated other comprehensive loss	(203,712		)	(190,970		)
Treasury stock, at cost, 21.0 million and 21.1 million shares at June 30, 2012 and December 31, 2011, respectively.	(731,253		)	(727,977		)
Total DENTSPLY International Equity	1,951,569			1,848,077
Noncontrolling interests	37,430			36,074
Total Equity	1,988,999			1,884,151
Total Liabilities and Equity	$	4,870,756		$	4,755,398

See accompanying Notes to Unaudited Interim Consolidated Financial Statements.

5

DENTSPLY INTERNATIONAL INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(unaudited)

	Six Months Ended June 30,
	2012			2011
Cash flows from operating activities:
Net income	$	136,269		$	144,853
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	40,357			32,359
Amortization	28,014			4,736
Amortization of deferred financing costs	2,391			—
Deferred income taxes	(4,432		)	6,894
Share-based compensation expense	11,029			10,316
Restructuring and other costs - noncash	2,105			(787		)
Stock option income tax benefit	(5,163		)	(6,217		)
Net interest expense on derivatives with an other-than-insignificant financing element	1,135			1,545
Equity in earnings from unconsolidated affiliates	2,919			(93		)
Other non-cash expense	(4,237		)	(955		)
Changes in operating assets and liabilities, net of acquisitions:
Accounts and notes receivable-trade, net	(41,461		)	(40,357		)
Inventories, net	(47,034		)	(8,368		)
Prepaid expenses and other current assets	(19,455		)	(1,927		)
Other noncurrent assets, net	(3,497		)	(4,519		)
Accounts payable	(1,320		)	4,129
Accrued liabilities	(3,244		)	9,051
Income taxes payable	5,423			12,942
Other noncurrent liabilities	3,596			2,907
Net cash provided by operating activities	103,395			166,509
Cash flows from investing activities:
Capital expenditures	(42,986		)	(25,338		)
Cash paid for acquisitions of businesses, net of cash acquired	—			(20,087		)
Payments on settlements of net investment hedges	(14,221		)	—
Expenditures for identifiable intangible assets	(188		)	(332		)
Purchase of Company-owned life insurance policies	(1,577		)	—
Proceeds from sale of property, plant and equipment, net	465			175
Net cash used in investing activities	(58,507		)	(45,582		)
Cash flows from financing activities:
Net change in short-term borrowings	(35,181		)	(177		)
Cash paid for treasury stock	(38,840		)	(79,500		)
Cash dividends paid	(15,706		)	(14,312		)
Cash paid for contingent consideration on prior acquisitions	(1,781		)	(1,780		)
Cash paid for acquisition of noncontrolling interests of consolidated subsidiaries	—			(16,431		)
Proceeds from long-term borrowings	—			38,254
Repayments of long-term borrowings	—			(2,403		)
Payment on terminated derivative instruments	—			—
Proceeds from exercise of stock options	20,066			33,993
Excess tax benefits from share-based compensation	5,163			6,217
Net interest payments on derivatives with an other-than-insignificant financing element	(1,135		)	(1,545		)
Net cash used in financing activities	(67,414		)	(37,684		)
Effect of exchange rate changes on cash and cash equivalents	(1,392		)	48,429
Net (decrease) increase in cash and cash equivalents	(23,918		)	131,672
Cash and cash equivalents at beginning of period	77,128			540,038
Cash and cash equivalents at end of period	$	53,210		$	671,710

See accompanying Notes to Unaudited Interim Consolidated Financial Statements.

6

DENTSPLY INTERNATIONAL INC. AND SUBSIDIARIES

CONSOLIDATED STATMENTS OF CHANGES IN EQUITY

(In thousands)

(unaudited)

	Common Stock		Capital in Excess of Par Value			Retained Earnings			Accumulated Other Comprehensive Income (Loss)		Treasury Stock			Total DENTSPLY International Equity			Noncontrolling Interests			Total Equity
Balance at December 31, 2010	$	1,628	$	204,902		$	2,320,350		$	24,156	$	(711,650	)	$	1,839,386		$	70,526		$	1,909,912
Net income	—		—			143,320			—		—			143,320			1,533			144,853
Other comprehensive income									79,357					79,357			5,943			85,300
Acquisition of noncontrolling interest	—		22,394			—			—		—			22,394			(38,825		)	(16,431		)
Exercise of stock options	—		(11,578		)	—			—		45,571			33,993			—			33,993
Tax benefit from stock options exercised	—		6,217			—			—		—			6,217			—			6,217
Share based compensation expense	—		10,362			—			—		—			10,362			—			10,362
Funding of Employee Stock Ownership Plan	—		379			—			—		2,595			2,974			—			2,974
Treasury shares purchased	—		—			—			—		(79,500		)	(79,500		)	—			(79,500		)
Dividends paid by noncontrolling interest	—		—			—			—		—			—			(174		)	(174		)
RSU distributions	—		(5,696		)	—			—		3,539			(2,157		)	—			(2,157		)
RSU dividends	—		91			(91		)	—		—			—			—			—
Cash dividends ($0.10 per share)	—		—			(14,116		)	—		—			(14,116		)	—			(14,116		)
Balance at June 30, 2011	$	1,628	$	227,071		$	2,449,463		$	103,513	$	(739,445	)	$	2,042,230		$	39,003		$	2,081,233

	Common Stock		Capital in Excess of Par Value			Retained Earnings			Accumulated Other Comprehensive Income (Loss)			Treasury Stock			Total DENTSPLY International Equity			Noncontrolling Interests			Total Equity
Balance at December 31, 2011	$	1,628	$	229,687		$	2,535,709		$	(190,970	)	$	(727,977	)	$	1,848,077		$	36,074		$	1,884,151
Net income	—		—			134,049			—			—			134,049			2,220			136,269
Other comprehensive loss	—		—			—			(12,742		)	—			(12,742		)	(864		)	(13,606		)
Exercise of stock options	—		(7,158		)	—			—			27,224			20,066			—			20,066
Tax benefit from stock options exercised	—		5,163			—			—			—			5,163			—			5,163
Share based compensation expense	—		11,029			—			—			—			11,029			—			11,029
Funding of Employee Stock Ownership Plan	—		370			—			—			3,272			3,642			—			3,642
Treasury shares purchased	—		—			—			—			(38,840		)	(38,840		)	—			(38,840		)
RSU distributions	—		(8,344		)	—			—			5,068			(3,276		)	—			(3,276		)
RSU dividends	—		115			(115		)	—			—			—			—			—
Cash dividends ($0.11 per share)	—		—			(15,599		)	—			—			(15,599		)	—			(15,599		)
Balance at June 30, 2012	$	1,628	$	230,862		$	2,654,044		$	(203,712	)	$	(731,253	)	$	1,951,569		$	37,430		$	1,988,999

See accompanying Notes to Unaudited Interim Consolidated Financial Statements.

7

DENTSPLY International Inc. and Subsidiaries

NOTES TO UNAUDITED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

The accompanying unaudited interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and the rules of the United States Securities and Exchange Commission (“SEC”).  The year-end consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by US GAAP. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair statement of the results for interim periods have been included. Results for interim periods should not be considered indicative of results for a full year. These financial statements and related notes contain the accounts of DENTSPLY International Inc. and Subsidiaries (“DENTSPLY” or the “Company”) on a consolidated basis and should be read in conjunction with the consolidated financial statements and notes included in the Company’s most recent Form 10-K for the year ended December 31, 2011.

NOTE 1 - SIGNIFICANT ACCOUNTING POLICIES

The accounting policies of the Company, as applied in the interim consolidated financial statements presented herein are substantially the same as presented in the Company’s Form 10-K for the year ended December 31, 2011, except as may be indicated below:

Accounts and Notes Receivable

The Company sells dental and certain healthcare products through a worldwide network of distributors and directly to end users.  For customers on credit terms, the Company performs ongoing credit evaluations of those customers' financial condition and generally does not require collateral from them.  The Company establishes allowances for doubtful accounts for estimated losses resulting from the inability of its customers to make required payments based on historical averages of aged receivable balances and the Company’s experience in collecting those balances, customer specific circumstances, as well as changes in the economic and political environments.  The Company records a provision for doubtful accounts, which is included in “Selling, general and administrative expenses.”

Accounts and notes receivables – trade, net are stated net of allowances for doubtful accounts and trade discounts, which was $13.7 million at June 30, 2012 and $15.8 million at December 31, 2011.

Marketable Securities

The Company’s marketable securities consist of corporate convertible bonds that are classified as available-for-sale in “Other noncurrent assets, net” on the consolidated balance sheets as the instruments mature in December 2015. The Company determined the appropriate classification at the time of purchase and will re-evaluate such designation as of each balance sheet date. In addition, the Company reviews the securities each quarter for indications of possible impairment. Once identified, the determination of whether the impairment is temporary or other-than-temporary requires significant judgment. The primary factors that the Company considers in classifying the impairment include the extent and time the fair value of each investment has been below cost and the existence of a credit loss. If a decline in fair value is judged other-than-temporary, the basis of the securities is written down to fair value and the amount of the write-down is included as a realized loss. Changes in fair value are reported in accumulated other comprehensive income (“AOCI”).

 The convertible feature of the bonds has not been bifurcated from the underlying bonds as the feature does not contain a net-settlement feature, nor would the Company be able to achieve a hypothetical net-settlement that would substantially place the Company in a comparable cash settlement position.  As such, the derivative is not accounted for separately from the bond.  The cash paid by the Company was equal to the face value of the bonds issued, and therefore, the Company has not recorded any bond premium or discount on acquiring the bonds.  The fair value of the bonds was $68.4 million and $47.8 million at June 30, 2012 and December 31, 2011, respectively.  At June 30, 2012 and December 31, 2011, an unrealized holding gain of $22.0 million and $11.5 million, respectively, on available-for-sale securities, net of tax, had been recorded in AOCI. 

New Accounting Pronouncements

In June 2011, the Financial Accounting Standards Board (“FASB”) amended its rules regarding the presentation of comprehensive income.  The objective of this amendment is to improve the comparability, consistency and transparency of financial reporting and to increase the prominence of items reported in other comprehensive income.  Specifically, this amendment requires that all non-owner changes in shareholders' equity be presented either in a single continuous statement of comprehensive income

8

or in two separate but consecutive statements.  The new rules will become effective during interim and annual periods beginning after December 15, 2011, with the exception of the requirement to present reclassification adjustments from other comprehensive income to net income on the face of the financial statements, which has been deferred pending further deliberation by the FASB.  Because the standard only impacts the presentation of comprehensive income and does not impact what is included in comprehensive income, the standard will not have a significant impact on the Company's consolidated financial statements. The Company adopted this accounting standard during the quarter ended March 31, 2012.

In September 2011, the FASB issued Accounting Standards Update No. 2011-08, “Intangibles – Goodwill and Other (Topic 350): Testing Goodwill for Impairment”("ASU"). This newly issued accounting standard is intended to reduce the cost and complexity of the annual goodwill impairment test by providing entities an option to perform a "qualitative" assessment to determine whether further impairment testing is necessary. Under the revised standard, an entity has the option to first assess qualitative factors to determine whether it is necessary to perform the current two-step impairment test. If an entity believes, as a result of its qualitative assessment, that it is more-likely-than-not that the fair value of a reporting unit is less than its carrying amount, the quantitative impairment test is required; otherwise, no further testing is required. Prior to the issuance of the revised standard, an entity was required to perform step one of the impairment test at least annually by calculating and comparing the fair value of a reporting unit to its carrying amount. Under the revised standard, if an entity determines that step one is necessary and the fair value of the reporting unit is less than its carrying amount, then step two of the test will continue to be required to measure the amount of the impairment loss, if any. These amendments do not change the current guidance for testing other indefinite-lived intangible assets for impairment. This ASU is effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011. The Company adopted this standard for the quarter ended June 30, 2012 and it did not impact the Company’s financial position or results from operations.

NOTE 2 – STOCK COMPENSATION

The following table represents total stock based compensation expense for non-qualified stock options, restricted stock units (“RSU”) and the tax related benefit for the three and six months ended June 30, 2012 and 2011:

	Three Months Ended				Six Months Ended
(in thousands)	2012		2011		2012		2011
Stock option expense	$	3,298	$	3,035	$	5,679	$	5,373
RSU expense	3,094		2,296		4,640		4,347
Total stock based compensation expense	$	6,392	$	5,331	$	10,319	$	9,720
Total related tax benefit	$	1,916	$	1,620	$	2,935	$	2,872

At June 30, 2012, the remaining unamortized compensation cost related to non-qualified stock options is $19.1 million, which will be expensed over the weighted average remaining vesting period of the options, or 1.8 years. At June 30, 2012, the unamortized compensation cost related to RSU is $20.4 million, which will be expensed over the remaining restricted period of the RSU, or 1.7 years.

9

The following table reflects the non-qualified stock option transactions from December 31, 2011 through June 30, 2012:

	Outstanding						Exercisable
(in thousands, except per share data)	Shares		Weighted Average Exercise Price		Aggregate Intrinsic Value		Shares	Weighted Average Exercise Price		Aggregate Intrinsic Value
December 31, 2011	10,148		$	31.23	$	51,402	8,049	$	30.06	$	50,365
Granted	1,307		38.72
Exercised	(862	)	23.29
Cancelled	(25	)	41.15
Forfeited	(38	)	36.15
June 30, 2012	10,530		$	32.77	$	61,728	7,720	$	31.20	$	58,418

At June 30, 2012 the weighted average remaining contractual term of all outstanding options is 6.0 years and the weighted average remaining contractual term of exercisable options is 5.0 years.

The following table summarizes the unvested RSU transactions from December 31, 2011 through June 30, 2012:

(in thousands, except per share data)	Shares		Weighted Average Grant Date Fair Value
December 31, 2011	897		$	32.50
Granted	413		38.71
Vested	(244	)	26.28
Forfeited	(25	)	35.67
June 30, 2012	1,041		$	36.34

NOTE 3 – COMPREHENSIVE INCOME

During the quarter ended June 30, 2012, foreign currency translation adjustments included currency translation losses of $175.3 million and losses on the Company’s loans designated as hedges of net investments of $1.3 million.  During the quarter ended June 30, 2011, foreign currency translation adjustments included currency translation gains of $52.4 million and gains of $9.7 million on the Company’s loans designated as hedges of net investments.  During the six months ended June 30, 2012, foreign currency translation adjustments included currency losses of $48.5 million and gains on the Company's loans designated as hedges of net investments of $4.1 million. During the six months ended June 30, 2011, foreign currency translation adjustments included currency translation gains of $142.1 million and gains on the Company's loans designated as hedges as investments of $10.7 million. These foreign currency translation adjustments were offset by movements on derivative financial instruments, which are discussed in Note 10, Financial Instruments and Derivatives.

The balances included in AOCI, net of tax, in the consolidated balance sheets are as follows:

(in thousands)	June 30, 2012			December 31, 2011
Foreign currency translation adjustments	$	(83,489	)	$	(39,078	)
Net loss on derivative financial instruments	(102,433		)	(117,390		)
Net unrealized holding gains (losses) on available-for-sale securities	14,530			(516		)
Pension liability adjustments	(32,320		)	(33,986		)
	$	(203,712	)	$	(190,970	)

10

The cumulative foreign currency translation adjustments included translation gains of $47.8 million and $96.3 million at June 30, 2012 and December 31, 2011, respectively, was more than offset by losses of $129.4 million and $133.5 million, respectively, on loans designated as hedges of net investments.  These foreign currency translation adjustments were partially offset by movements on derivatives financial instruments, which are discussed in Note 10, Financial Instruments and Derivatives.

NOTE 4 - EARNINGS PER COMMON SHARE

The dilutive effect of outstanding non-qualified stock options and RSU is reflected in diluted earnings per share by application of the treasury stock method. The following table sets forth the computation of basic and diluted earnings per common share for the three and six months ended June 30, 2012 and 2011:

	Three Months Ended				Six Months Ended
Basic Earnings Per Common Share Computation
(in thousands, except per share amounts)	2012		2011		2012		2011
Net income attributable to DENTSPLY International	$	80,764	$	74,236	$	134,049	$	143,320
Common shares outstanding	141,737		141,052		141,729		141,331
Earnings per common share - basic	$	0.57	$	0.53	$	0.95	$	1.01
Diluted Earnings Per Common Share Computation
(in thousands, except per share amounts)
Net income attributable to DENTSPLY International	$	80,764	$	74,236	$	134,049	$	143,320
Common shares outstanding	141,737		141,052		141,729		141,331
Incremental shares from assumed exercise of dilutive options from stock-based compensation awards	2,126		2,321		2,179		2,363
Total shares	143,863		143,373		143,908		143,694
Earnings per common share - diluted	$	0.56	$	0.52	$	0.93	$	1.00

Options to purchase 3.8 million and 4.1 million shares of common stock that were outstanding during the three and six months ended June 30, 2012, respectively, were not included in the computation of diluted earnings per share since the exercise prices for these options were greater than the average market price of the common shares and, therefore, the effect would be antidilutive.  There were 3.0 million and 3.4 million antidilutive shares of common stock outstanding during the three and six months ended June 30, 2011, respectively.

NOTE 5 – BUSINESS ACQUISITIONS

On August 31, 2011, the Company acquired 100% of the outstanding common shares of Astra Tech, a leading developer, manufacturer and marketer of dental implants, customized implant abutments and consumable medical devices in the urology and surgery market segments.

The Astra Tech acquisition was recorded in accordance with the business combinations provisions of US GAAP.  The Company has preliminarily valued tangible and identifiable intangible assets acquired based on their estimated fair values.  The Company is in the process of completing the valuation of identifiable assets acquired and liabilities assumed and, therefore, the fair values set forth below are subject to adjustment upon finalizing the valuations. In addition, completion of the valuation may impact the assessment of the net deferred tax liability currently recognized with any adjustment resulting in a corresponding change to goodwill. The amount of these potential adjustments could be significant.

The following table summarizes the preliminary fair value of identifiable assets and liabilities assumed at the date of the Astra Tech acquisition. This table has been updated during the first six months of 2012 to reflect the refined estimates of fair value. The primary change resulted in an increase to identifiable intangible assets relating to customer relationships and a corresponding

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reduction to goodwill.

(in thousands)
Inventory	$	84,659
Other Current assets	140,462
Property, plant and equipment	178,495
Identifiable intangible assets	986,300
Goodwill	824,357
Other long-term assets	13,438
Total assets	2,227,711
Current liabilities	106,983
Long-term liabilities	329,937
Total liabilities	436,920
Net assets	$	1,790,791

Other current assets consist primarily of trade accounts receivable of $101.2 million.  Current liabilities assumed are primarily comprised of accrued and other current liabilities of $80.0 million and trade accounts payable of $27.0 million.  Long-term liabilities assumed are primarily comprised of noncurrent deferred tax liabilities of $280.6 million and pension obligations of $49.3 million.

Inventory held by Astra Tech includes a fair value adjustment of $32.8 million.  The Company expensed this amount by December 31, 2011 as the acquired inventory was sold.

Property, plant and equipment includes a fair value adjustment of $28.7 million and consists of land, buildings, plant and equipment.  Depreciable lives range 40 years for buildings and from 5 to 15 years for plant and equipment.

The preliminary fair values assigned to identifiable intangible assets were determined through the use of the income approach, specifically the relief from royalty method and the multi-period excess earnings method. Both valuation methods rely on management’s judgments, including expected future cash flows resulting from existing customer relationships, customer attrition rates, contributory effects of other assets utilized in the business, peer group cost of capital and royalty rates as well as other factors. The valuation of tangible assets was derived using the combination of the income approach, the market approach and the cost approach. Significant judgments used in valuing tangible assets include estimated reproduction or replacement cost, useful lives of assets, estimated selling prices, costs to complete and reasonable profit.

Useful lives for identifiable intangible assets were determined based upon the remaining useful economic lives of the identifiable intangible assets that are expected to contribute to future cash flows.  The acquired identifiable intangible assets are being amortized on a straight-line basis over their expected useful lives.

Identifiable intangible assets acquired consist of the following:

(in thousands, except for useful life)	Amount		Useful Life (in years)
Customer relationships	$	636,900	17.5 - 20
Developed technology and patents	116,500		10
Trade names and trademarks	229,100		Indefinite
In-process research and development	3,800		—
Total	$	986,300

The $824.4 million of goodwill is attributable to the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired and liabilities assumed. The goodwill recognized is primarily attributable to cost savings and other synergies that the Company expects to realize through operational efficiencies.  All of the goodwill has been assigned to the Company's Implants/Endodontics/Healthcare/Pacific Rim segment and is not expected to be deductible for tax purposes.

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The following unaudited pro forma financial information reflects the consolidated results of operations of the Company had the Astra Tech acquisition occurred on January 1, 2010.  These amounts were calculated after conversion to US GAAP, applying the Company’s accounting policies and adjusting Astra Tech’s results to reflect the additional depreciation and amortization that would have been charged assuming the fair value adjustments to property, plant and equipment, inventory and intangible assets had been applied from January 1, 2010, together with the consequential tax effects at the statutory rate.  These adjustments also reflect the additional interest expense incurred on the debt to finance the acquisition.

	Three Months Ended June 30,		Six Months Ended June 30,
(in thousands, except per share data)	2011		2011
Net sales	$	763,659	$	1,479,567
Net income attributable to DENTSPLY	$	71,932	$	141,510
Diluted earnings per common share	$	0.50	$	0.98

The pro forma financial information is based on the Company's preliminary assignment of purchase price and therefore subject to adjustment upon finalizing the purchase price assignment. The Astra Tech financial information has been compiled in a manner consistent with the accounting policies adopted by DENTSPLY. Pro forma results do not include any anticipated synergies or other anticipated benefits of the acquisition. Accordingly, the unaudited pro forma financial information is not necessarily indicative of either future results of operations or results that might have been achieved had the acquisition occurred on January 1, 2010.  While the Company completed other transactions during the pro forma periods presented above, these transactions were immaterial to the Company’s net sales and net income attributable to DENTSPLY.

NOTE 6 - SEGMENT INFORMATION

The Company has numerous operating businesses covering a wide range of dental and certain healthcare products and geographic regions, primarily serving the professional dental market. Professional dental products represented approximately 89% and 97% of sales for the three months ended June 30, 2012 and 2011, respectively, and 89% and 97% of sales for the six months ended June 30, 2012 and 2011, respectively.

The operating businesses are combined into operating groups, which have overlapping product offerings, geographical presence, customer bases, distribution channels, and regulatory oversight. These operating groups are considered the Company’s reportable segments as the Company’s chief operating decision-maker regularly reviews financial results at the operating group level and uses this information to manage the Company’s operations. The accounting policies of the groups are consistent with those described in the Company’s most recently filed Form 10-K in the summary of significant accounting policies.  The Company measures segment income for reporting purposes as operating income before restructuring and other costs, interest expense, interest income, other income and expenses and income taxes.

During the first quarter of 2012 the Company realigned reporting responsibilities for multiple locations as a result of changes to the management structure. These changes also helped the Company gain operating efficiencies and effectiveness. The segment information below reflects the revised structure for all periods shown.

Dental Consumable and Laboratory Businesses

This business group includes responsibility for the design, manufacturing, sales and distribution of certain small equipment and chairside consumable products in the United States, Germany and certain other European regions.  It also has responsibility for the sales and distribution of certain Endodontic products in Germany. This business group also includes the responsibility for the design, manufacture, sales and distribution of most dental laboratory products, excluding certain countries. This business group is also responsible for most of the Company’s non-dental business excluding healthcare products.

Orthodontics/Canada/Mexico/Japan

  This business group is responsible for the world-wide manufacturing, sales and distribution of the Company’s Orthodontic products. It also has responsibility for the sales and distribution of most of the Company’s dental products sold in Japan, Canada and Mexico.

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Select Distribution Businesses

This business group includes responsibility for the sales and distribution for most of the Company's dental products sold in France, United Kingdom, Italy, Austria and certain other European countries, Middle Eastern countries, India and Africa.

Implants/Endodontics/Healthcare/Pacific Rim

This business group includes the responsibility for the design, manufacture, sales and distribution of most of the Company’s dental implant and related products. This business group also includes the responsibility for the design and manufacturing of Endodontic products and is responsible for the sales and distribution of the Company’s Endodontic products in the United States, Switzerland, and locations not covered by other selling divisions.  In addition, this business group is also responsible for sales and distribution of certain Endodontic products in Germany, Asia and other parts of the world. Additionally, this business group is responsible for the design and manufacture of certain dental consumables and dental laboratory products and the sales and distribution of most dental products sold in Brazil, Latin America (excluding Mexico), Australia and most of Asia (excluding India and Japan). This business group is also responsible for the world-wide design, manufacturing, sales and distribution of the Company's healthcare products (non-dental) throughout most of the world.

Significant interdependencies exist among the Company’s operations in certain geographic areas. Inter-group sales are at prices intended to provide a reasonable profit to the manufacturing unit after recovery of all manufacturing costs and to provide a reasonable profit for purchasing locations after coverage of marketing and general and administrative costs.

Generally, the Company evaluates performance of the operating groups based on the groups’ operating income, excluding restructuring and other costs, and net third party sales, excluding precious metal content.

The following tables set forth information about the Company’s operating groups for the three and six months ended June 30, 2012 and 2011:

Third Party Net Sales

	Three Months Ended						Six Months Ended
(in thousands)	2012			2011			2012			2011
Dental Consumable and Laboratory Businesses	$	258,786		$	246,062		$	505,717		$	477,182
Orthodontics/Canada/Mexico/Japan	86,317			85,728			159,219			174,174
Select Distribution Businesses	78,433			82,892			151,684			157,058
Implants/Endodontics/Healthcare/Pacific Rim	342,312			196,399			666,956			374,213
All Other (a)	(2,854		)	(1,638		)	(4,169		)	(2,681		)
Total	$	762,994		$	609,443		$	1,479,407		$	1,179,946

(a) Includes amounts recorded at Corporate headquarters.

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Third Party Net Sales, Excluding Precious Metal Content

	Three Months Ended						Six Months Ended
(in thousands)	2012			2011			2012			2011
Dental Consumable and Laboratory Businesses	$	206,862		$	214,181		$	414,346		$	415,289
Orthodontics/Canada/Mexico/Japan	77,037			77,433			142,878			157,908
Select Distribution Businesses	77,130			80,490			148,783			152,530
Implants/Endodontics/Healthcare/Pacific Rim	340,305			193,523			662,268			367,949
All Other (a)	(2,854		)	(1,638		)	(4,169		)	(2,681		)
Total excluding precious metal content	698,480			563,989			1,364,106			1,090,995
Precious metal content	64,514			45,454			115,301			88,951
Total including precious metal content	$	762,994		$	609,443		$	1,479,407		$	1,179,946

(a) Includes amounts recorded at Corporate headquarters.

Inter-segment Net Sales

	Three Months Ended						Six Months Ended
(in thousands)	2012			2011			2012			2011
Dental Consumable and Laboratory Businesses	$	58,486		$	55,636		$	112,887		$	111,006
Orthodontics/Canada/Mexico/Japan	1,054			953			2,233			1,937
Select Distribution Businesses	2,974			3,729			6,292			7,477
Implants/Endodontics/Healthcare/Pacific Rim	42,409			43,756			80,748			81,798
All Other (a)	56,329			55,458			110,309			106,835
Eliminations	(161,252		)	(159,532		)	(312,469		)	(309,053		)
Total	$	—		$	—		$	—		$	—

(a) Includes amounts recorded at Corporate headquarters and one distribution warehouse not managed by named segments.

Segment Operating Income

	Three Months Ended						Six Months Ended
(in thousands)	2012			2011			2012			2011
Dental Consumable and Laboratory Businesses	$	63,295		$	61,536		$	124,764		$	117,519
Orthodontics/Canada/Mexico/Japan	3,897			4,314			4,263			13,593
Select Distribution Businesses	138			587			(850		)	445
Implants/Endodontics/Healthcare/Pacific Rim	77,224			63,188			143,383			117,613
All Other (a)	(33,119		)	(25,758		)	(71,729		)	(46,086		)
Segment operating income	111,435			103,867			199,831			203,084
Reconciling Items:
Restructuring and other costs	(2,528		)	(6,863		)	(3,765		)	(7,496		)
Interest expense	(14,584		)	(5,570		)	(30,366		)	(11,913		)
Interest income	2,011			2,430			4,308			4,258
Other expense (income), net	(748		)	(1,434		)	(1,230		)	(1,504		)
Income before income taxes	$	95,586		$	92,430		$	168,778		$	186,429

(a) Includes the results of Corporate headquarters, inter-segment eliminations and one distribution warehouse not managed by named segments.

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Assets
(in thousands)	June 30, 2012		December 31, 2011
Dental Consumable and Laboratory Businesses	$	1,012,143	$	1,180,001
Orthodontics/Canada/Mexico/Japan	286,997		328,376
Select Distribution Businesses	207,377		168,500
Implants/Endodontics/Healthcare/Pacific Rim	3,102,736		2,881,591
All Other (a)	261,503		196,930
Total	$	4,870,756	$	4,755,398

(a) Includes the assets of Corporate headquarters, inter-segment eliminations and one distribution warehouse not managed by named segments.

NOTE 7 - INVENTORIES

Inventories are stated at the lower of cost or market.  At June 30, 2012 and December 31, 2011, the cost of $8.6 million, or 2.1% and $7.1 million, or 2.1% of inventories, respectively, was determined using the last-in, first-out (“LIFO”) method. The cost of the remaining inventories was determined using the first-in, first-out (“FIFO”) or average cost methods. If the FIFO method had been used to determine the cost of LIFO inventories, the amounts at which net inventories are stated would be higher than reported at June 30, 2012 and December 31, 2011 by $5.7 million and $5.6 million, respectively.

The Company establishes reserves for inventory in order to present the net realizable value.  The inventory valuation reserves were $34.9 million and $35.1 million at June 30, 2012 and December 31, 2011, respectively.

Inventories, net of inventory valuation reserves, consist of the following:

(in thousands)	June 30, 2012		December 31, 2011
Finished goods	$	246,432	$	218,814
Work-in-process	67,810		66,952
Raw materials and supplies	88,953		75,996
	$	403,195	$	361,762

NOTE 8 - BENEFIT PLANS

The following sets forth the components of net periodic benefit cost of the Company’s defined benefit plans and for the Company’s other postretirement employee benefit plans for the three and six months endedJune 30, 2012 and 2011:

Defined Benefit Plans	Three Months Ended						Six Months Ended
(in thousands)	2012			2011			2012			2011
Service cost	$	3,032		$	2,578		$	6,010		$	5,012
Interest cost	2,627			2,305			5,318			4,492
Expected return on plan assets	(1,189		)	(1,290		)	(2,414		)	(2,506		)
Amortization of prior service cost	(33		)	21			(70		)	41
Amortization of net loss	494			405			992			788
Net periodic benefit cost	$	4,931		$	4,019		$	9,836		$	7,827

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Other Postretirement Plans	Three Months Ended				Six Months Ended
(in thousands)	2012		2011		2012		2011
Service cost	$	18	$	16	$	37	$	32
Interest cost	118		139		235		277
Amortization of net loss	57		49		115		98
Net periodic benefit cost	$	193	$	204	$	387	$	407

The following sets forth the information related to the contributions to the Company’s benefit plans for 2012:

(in thousands)	Pension Benefits		Other Postretirement Benefits
Actual contributions through June 30, 2012	$	6,386	$	416
Projected for the remainder of the year	6,095		562
Total for year	$	12,481	$	978

NOTE 9 – RESTRUCTURING AND OTHER COSTS

Restructuring Costs

During the three and six months ended June 30, 2012, the Company recorded restructuring costs of $2.1 million and $3.5 million, respectively.  These costs primarily related to employee severance.  During the three and six months ended June 30, 2011, the Company recorded restructuring costs of $0.7 million, related to employee severance costs.  These costs are recorded in “Restructuring and other costs” in the consolidated statements of operations and the associated liabilities are recorded in "Accrued liabilities" in the consolidated balance sheets.

During 2012, the Company initiated several restructuring plans primarily related to the integration, reorganization and closure or consolidation of certain production and selling facilities in order to better leverage the Company’s resources by minimizing costs and obtaining operational efficiencies.

At June 30, 2012, the Company’s restructuring accruals were as follows:

	Severance
(in thousands)	2010 and Prior Plans			2011 Plans			2012 Plans			Total
Balance at December 31, 2011	$	3,380		$	1,281		$	—		$	4,661
Provisions and adjustments	—			546			2,383			2,929
Amounts applied	(689		)	(452		)	(929		)	(2,070		)
Balance at June 30, 2012	$	2,691		$	1,375		$	1,454		$	5,520

	Lease/Contract Terminations
(in thousands)	2010 and Prior Plans			2012 Plans			Total
Balance at December 31, 2011	$	1,011		$	—		$	1,011
Provisions and adjustments	—			254			254
Amounts applied	(147		)	(27		)	(174		)
Balance at June 30, 2012	$	864		$	227		$	1,091

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	Other Restructuring Costs
(in thousands)	2010 and Prior Plans		2012 Plans			Total
Balance at December 31, 2011	$	34	$	—		$	34
Provisions and adjustments	—		276			276
Amounts applied	—		(123		)	(123		)
Balance at June 30, 2012	$	34	$	153		$	187

The following table provides the year-to-date changes in the restructuring accruals by segment:

(in thousands)	December 31, 2011		Provisions and Adjustments		Amounts Applied			June 30, 2012
Dental Consumable and Laboratory Businesses	$	3,601	$	628	$	(1,006	)	$	3,223
Orthodontics/Canada/Mexico/Japan	240		826		(282		)	784
Implants/Endodontics/Healthcare/Pacific Rim	1,865		2,005		(1,079		)	2,791
	$	5,706	$	3,459	$	(2,367	)	$	6,798

NOTE 10 – FINANCIAL INSTRUMENTS AND DERIVATIVES

Derivative Instruments and Hedging Activities

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

Derivative instruments not designated as hedging

The Company enters into derivative financial instruments to hedge the foreign exchange revaluation risk associated with recorded assets and liabilities that are denominated in a non-functional currency. The gains and losses on these derivative transactions offset the gains and losses generated by the revaluation of the underlying non-functional currency balances and are recorded in “Other expense (income), net” on the consolidated statements of operations. The Company primarily uses forward foreign exchange contracts and cross currency basis swaps to hedge these risks. The Company's significant contracts outstanding as of June 30, 2012 are summarized in the tables that follow.

The Company wrote DIO equity option contracts ("equity options") to the original sellers of the DIO investment for the remaining DIO common shares held by the sellers. The equity options provide the sellers the ability to require the Company to purchase their remaining shares on hand at a price based on an agreed-upon formula at specific time frames in the future. The sellers are also allowed to sell their remaining shares on the open market. Changes in the fair value of the equity options are reported in “Other expense (income), net” on the consolidated statements of operations. This derivative is further discussed in Note 11, Fair Value Measurement.

Cash Flow Hedges

Foreign Exchange Risk Management

The Company uses a layered hedging program to hedge select anticipated foreign currency cash flows to reduce volatility in both cash flows and reported earnings of the consolidated Company. The Company accounts for the foreign exchange forward contracts as cash flow hedges. As a result, the Company records the fair value of the contract primarily through AOCI based on the tested effectiveness of the foreign exchange forward contracts. The Company measures the effectiveness of cash flow hedges of anticipated transactions on a spot-to-spot basis rather than on a forward-to-forward basis. Accordingly, the spot-to-spot change in the derivative fair value will be deferred in AOCI and released and recorded on the consolidated statements of operations in the

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same period that the hedged transaction is recorded. Any time value component of the hedge fair value is deemed ineffective and will be reported currently in “Other expense (income), net” on the consolidated statements of operations in the period which it is applicable. Any cash flows associated with these instruments are included in cash from operations in accordance with the Company's policy of classifying the cash flows from these instruments in the same category as the cash flows from the items being hedged.

These foreign exchange forward contracts generally have maturities up to eighteen months and the counterparties to the transactions are typically large international financial institutions. The Company's significant contracts outstanding as of June 30, 2012 are summarized in the tables that follow.

Interest Rate Risk Management

The Company uses interest rate swaps to convert a portion of its variable interest rate debt to fixed interest rate debt. As of June 30, 2012, the Company has two groups of significant interest rate swaps. One of the groups of swaps has notional amounts totaling 12.6 billion Japanese yen, and effectively converts the underlying variable interest rates to an average fixed interest rate of 0.2% for a term of three years, ending in September 2014. Another swap has a notional amount of 65.0 million Swiss francs, and effectively converts the underlying variable interest rates to a fixed interest rate of 0.7% for a term of five years, ending in September 2016.

The Company enters into interest rate swap contracts infrequently as they are only used to manage interest rate risk on long-term debt instruments and not for speculative purposes. The Company's significant contracts outstanding as of June 30, 2012 are summarized in the tables that follow.

Commodity Risk Management

The Company selectively enters into commodity swaps to effectively fix certain variable raw material costs. These swaps are used purely to stabilize the cost of components used in the production of certain of the Company's products. The Company generally accounts for the commodity swaps as cash flow hedges. As a result, the Company records the fair value of the swap primarily through AOCI based on the tested effectiveness of the commodity swap. The Company measures the effectiveness of cash flow hedges of anticipated transactions on a spot-to-spot basis rather than on a forward-to-forward basis. Accordingly, the spot-to-spot change in the derivative fair value will be deferred in AOCI and released and recorded on the consolidated statements of operations in the same period that the hedged transaction is recorded. At any time the value component of the hedge fair value is deemed ineffective and will be reported currently in “Interest expense” in the period which it is applicable. Any cash flows associated with these instruments are included in cash from operations in accordance with the Company's policy of classifying the cash flows from these instruments in the same category as the cash flows from the items being hedged.

At June 30, 2012, the Company had swaps in place to purchase 766 troy ounces of platinum bullion for use in production at an average fixed rate of $1,467 per troy ounce.  In addition, the Company had swaps in place to purchase 76,870 troy ounces of silver bullion for use in production at an average fixed rate of $28 per troy ounce.

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The following tables summarize the notional amounts and fair value of the Company's cash flow hedges and non-designated derivatives at June 30, 2012:

Foreign Exchange Forward Contracts	Notional Amounts Maturing in the Year									Fair Value Net Asset (Liability)
(in thousands)	2012			2013			2014			June 30, 2012
Forward sale, 12.3 million Australian dollars	$	8,061		$	3,884		$	139		$	(698	)
Forward purchase, 7.4 million British pounds	(11,326		)	(193		)	—			167
Forward sale, 43.6 million Canadian dollars	21,955			20,015			1,212			862
Forward purchase, 22.2 million Danish kroner	(3,773		)	—			—			(24		)
Forward sale, 143.4 million euros	63,919			112,840			5,835			4,080
Forward purchase, 0.4 billion Japanese yen	4,471			(8,569		)	(506		)	(343		)
Forward sale, 165.2 million Mexican pesos	12,384			—			—			(502		)
Forward purchase, 17.2 million Norwegian kroner	(2,893		)	—			—			14
Forward sale, 4.2 million Polish zlotys	1,259			—			—			(49		)
Forward sale, 2.6 million Singapore dollars	2,065			—			—			20
Forward sale, 5.7 billion South Korean won	4,994			—			—			(35		)
Forward purchase, 1.0 billion Swedish kronor	(69,982		)	(67,198		)	(3,270		)	3,080
Forward purchase, 14.0 million Swiss francs	(33,566		)	19,233			860			1,229
Forward sale, 32.5 million Taiwanese dollars	1,092			—			—			(4		)
Total foreign exchange forward contracts	$	(1,340	)	$	80,012		$	4,270		$	7,797

Interest Rate Swaps	Notional Amounts Maturing in the Year										Fair Value Net Asset (Liability)
(in thousands)	2012		2013		2014		2015		2016 and Beyond		June 30, 2012
Euro	$	598	$	1,195	$	914	$	914	$	2,057	$	(550	)
Japanese yen	—		—		157,053		—		—		376
Swiss francs	—		—		—		—		68,482		(1,315		)
Total interest rate swaps	$	598	$	1,195	$	157,967	$	914	$	70,539	$	(1,489	)

Commodity Swap Contracts	Notional Amounts Maturing in the Year				Fair Value Net  Asset (Liability)
(in thousands)	2012		2013		June 30, 2012
Silver swap - U.S. dollar	$	1,526	$	563	$	(84	)
Platinum swap - U.S. dollar	777		321		(25		)
Total commodity swap contracts	$	2,303	$	884	$	(109	)

Cross Currency Basis Swap	Notional Amounts Maturing in the Year		Fair Value Net Asset (Liability)
(in thousands)	2014		June 30, 2012
Euro 449.8 million @ $1.45  pay USD 3 mth. LIBOR receive EUR 3 mth. EURIBOR	$	569,267	$	(79,689	)
Total cross currency basis swap	$	569,267	$	(79,689	)

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At June 30, 2012, deferred net gains on derivative instruments of $3.7 million, which were recorded in AOCI, are expected to be reclassified to current earnings during the next twelve months. This reclassification is primarily due to the sale of inventory that includes previously hedged purchases and interest rate swaps. The maximum term over which the Company is hedging exposures to variability of cash flows (for all forecasted transactions, excluding interest payments on variable interest rate debt) is eighteen months. Overall, the derivatives designated as cash flow hedges are highly effective. Any cash flows associated with these instruments are included in cash from operations in accordance with the Company's policy of classifying the cash flows from these instruments in the same category as the cash flows from the items being hedged.

Hedges of Net Investments in Foreign Operations

The Company has numerous investments in foreign subsidiaries. The net assets of these subsidiaries are exposed to volatility in currency exchange rates. Currently, the Company uses both non-derivative financial instruments, including foreign currency denominated debt held at the parent company level and derivative financial instruments to hedge some of this exposure. Translation gains and losses related to the net assets of the foreign subsidiaries are offset by gains and losses in the non-derivative and derivative financial instruments designated as hedges of net investments, which are included in AOCI.

During the second quarter of 2012, the Company entered into two new cross currency basis swaps totaling Swiss francs 56.6 million (the “Swiss Swaps”). The Swiss Swaps mature in May 2015, and the Company pays three-month Swiss franc London Inter-Bank Offered Rate ("LIBOR") minus 37.9 basis points on Swiss francs 56.6 million and receives three-month U.S. dollar LIBOR on $60.5 million. The new contracts were entered into to replace maturing contracts. The Swiss Swaps are designated as net investment hedges of the Swiss denominated net assets. The interest rate differential is recognized in the earnings as interest income or interest expense as it is accrued. The foreign currency revaluation is recorded in AOCI, net of tax effects.

At June 30, 2012 and December 31, 2011, the Company had Swiss franc-denominated and Japanese yen-denominated debt and cross currency basis swaps denominated in euro and Swiss franc to hedge the currency exposure related to a designated portion of the net assets of its European, Swiss and Japanese subsidiaries. The fair value of the cross currency interest rate swap agreements is the estimated amount the Company would (pay) receive at the reporting date, taking into account the effective interest rates and foreign exchange rates. At June 30, 2012 and December 31, 2011, the estimated net fair values of the cross currency interest rate swap agreements was a liability of $74.5 million and a liability of $111.9 million, respectively, which are recorded in AOCI, net of tax effects. At June 30, 2012 and December 31, 2011, the accumulated translation gain (loss) on investments in foreign subsidiaries, primarily denominated in euros, Swiss francs, Japanese yen and Swedish krona, net of these net investment hedges, were $173.8 million in losses and $143.7 million in losses, respectively, which were included in AOCI, net of tax effects.

The following tables summarize the notional amounts and fair value of the Company's cross currency basis swaps that are designated as hedges of net investments in foreign operations at June 30, 2012:

Cross Currency Basis Swaps	Notional Amounts Maturing in the Year							Fair Value Net Asset (Liability)
(in thousands)		2013		2014		2015		June 30, 2012
Swiss franc 592.5 million @ 1.09 pay CHF 3 mth. LIBOR rec. USD 3 mth. LIBOR		$	479,903	$	84,707	$	59,632	$	(79,240	)
Euro 618.0 million @ $1.27 pay EUR 3 mth. EURIBOR rec. USD 3 mth. LIBOR		782,203		—		—		4,700
Total cross currency basis swaps		$	1,262,106	$	84,707	$	59,632	$	(74,540	)

Fair Value Hedges

Effective April 4, 2011, the Company entered into a group of U.S. dollar denominated interest rate swaps with an initial total notional value of $150.0 million to effectively convert the underlying fixed interest rate of 4.1% on the Company's $250.0 million Private Placement Notes ("PPN") to variable rate for a term of five years, ending February 2016. The notional value of the swaps will decline proportionately as portions of the PPN mature. These interest rate swaps are designated as fair value hedges of the interest rate risk associated with the hedged portion of the fixed rate PPN. Accordingly, the Company will carry the portion of the hedged debt at fair value, with the change in debt and swap offsetting each other in the income statement. At June 30, 2012, the estimated net fair value of these interest rate swaps was $4.8 million.

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The following tables summarize the notional amounts and fair value of the Company's fair value hedges at June 30, 2012:

Interest Rate Swap	Notional Amounts Maturing in the Year						Fair Value Net Asset (Liability)
(in thousands)	2014		2015		2016 and Beyond		June 30, 2012
U.S. dollars	$	45,000	$	60,000	$	45,000	$	4,832
Total interest rate swap	$	45,000	$	60,000	$	45,000	$	4,832

The following tables summarize the fair value and consolidated balance sheet location of the Company's derivatives at June 30, 2012 and December 31, 2011:

	June 30, 2012
(in thousands)	Prepaid Expenses and Other Current Assets		Other Noncurrent Assets, Net		Accrued Liabilities		Other Noncurrent Liabilities
Designated as Hedges
Foreign exchange forward contracts	$	6,143	$	754	$	883	$	123
Commodity contracts	—		—		109		—
Interest rate swaps	2,505		3,156		—		1,768
Cross currency basis swaps	—		31,494		82,949		23,085
Total	$	8,648	$	35,404	$	83,941	$	24,976
Not Designated as Hedges
Foreign exchange forward contracts	$	3,672	$	—	$	1,766	$	—
DIO equity option contracts	—		—		—		580
Interest rate swaps	—		—		108		442
Cross currency basis swaps	—		—		—		79,689
Total	$	3,672	$	—	$	1,874	$	80,711

	December 31, 2011
(in thousands)	Prepaid Expenses and Other Current Assets		Other Noncurrent Assets, Net		Accrued Liabilities		Other Noncurrent Liabilities
Designated as Hedges
Foreign exchange forward contracts	$	5,464	$	896	$	641	$	107
Commodity contracts	—		15		257		2
Interest rate swaps	2,539		3,160		—		1,050
Cross currency basis swaps	—		19,838		13,790		117,974
Total	$	8,003	$	23,909	$	14,688	$	119,133
Not Designated as Hedges
Foreign exchange forward contracts	$	1,943	$	—	$	3,150	$	—
Commodity contracts	—		—		—		419
Interest rate swaps	—		—		105		476
Cross currency basis swaps	—		—		—		67,690
Total	$	1,943	$	—	$	3,255	$	68,585

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The following tables summarize the statements of operations impact of the Company's cash flow hedges for the three and six months ended June 30, 2012 and 2011:

Three Months Ended June 30, 2012
Derivatives in Cash Flow Hedging
(in thousands)	Gain (Loss) in AOCI			Classification of Gains (Losses)	Effective Portion Reclassified from AOCI into Income
Interest rate contracts	$	(727	)	Interest expense	$	(897	)
Foreign exchange forward contracts	4,785			Cost of products sold	1,842
Foreign exchange forward contracts	391			SG&A expenses	226
Commodity contracts	(581		)	Cost of products sold	96
Total	$	3,868			$	1,267

Derivatives in Cash Flow Hedging
	Classification of Gains (Losses)	Ineffective portion Recognized in Income
(in thousands)
Foreign exchange forward contracts	Other expense, net	$	278
Commodity contracts	Interest expense	11
Total		$	289

Three Months Ended June 30, 2011
Derivatives in Cash Flow Hedging
(in thousands)	Gain (Loss) in AOCI			Classification of Gains (Losses)	Effective Portion Reclassified from AOCI into Income
Interest rate swaps	$	9,879		Interest expense	$	(1,318	)
Foreign exchange forward contracts	238			Cost of products sold	386
Foreign exchange forward contracts	(195		)	SG&A expenses	(95		)
Commodity contracts	29			Cost of products sold	91
Total	$	9,951			$	(936	)

Derivatives in Cash Flow Hedging
(in thousands)	Classification of Gains (Losses)	Ineffective Portion Recognized in Income
Interest rate swaps	Other expense, net	$	65
Foreign exchange forward contracts	Interest expense	(188		)
Commodity contracts	Interest expense	1
Total		$	(122	)

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Six Months Ended June 30, 2012
Derivatives in Cash Flow Hedging
(in thousands)	Gain (Loss) in AOCI			Classification of Gains (Losses)	Effective Portion Reclassified from AOCI into Income
Interest rate swaps	$	(1,399	)	Interest expense	$	(1,802	)
Foreign exchange forward contracts	3,351			Cost of products sold	2,992
Foreign exchange forward contracts	302			SG&A expenses	457
Commodity contracts	257			Cost of products sold	50
Total	$	2,511			$	1,697

Derivatives in Cash Flow Hedging
(in thousands)	Classification of Gains (Losses)	Ineffective Portion Recognized in Income
Foreign exchange forward contracts	Interest expense	$	478
Commodity contracts	Interest expense	(6		)
Total		$	472

Six Months Ended June 30, 2011
Derivatives in Cash Flow Hedging
(in thousands)	Gain (Loss) in AOCI			Classification of Gains (Losses)	Effective Portion Reclassified from AOCI into Income
Interest rate swaps	$	9,598		Interest expense	$	(2,569	)
Foreign exchange forward contracts	(694		)	Cost of products sold	854
Foreign exchange forward contracts	(462		)	SG&A expenses	11
Commodity contracts	56			Cost of products sold	196
Total	$	8,498			$	(1,508	)

Derivatives in Cash Flow Hedging
(in thousands)	Classification of Gains (Losses)	Ineffective Portion Recognized in Income
Interest rate swaps	Other expense, net	$	167
Foreign exchange forward contracts	Interest expense	(216		)
Foreign exchange forward contracts	Other expense, net	(188		)
Commodity contracts	Interest expense	(2		)
Total		$	(239	)

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The following tables summarize the statements of operations impact of the Company's hedges of net investments for the three and six months ended June 30, 2012 and 2011:

Three Months Ended June 30, 2012
Derivatives in Net Investment Hedging
(in thousands)	Gain (Loss) in AOCI		Classification of Gains (Losses)	Gain (Loss) Recognized in Income
Cross currency interest rate swaps	$	73,784	Interest income	$	861
			Interest expense	(412		)
Total	$	73,784		$	449

Three Months Ended June 30, 2011
Derivatives in Net Investment Hedging
(in thousands)	Gain (Loss) in AOCI			Classification of Gains (Losses)	Gain (Loss) Recognized in Income
Cross currency interest rate swaps	$	(70,023	)	Interest income	$	170
				Interest expense	(1,310		)
Total	$	(70,023	)		$	(1,140	)

Six Months Ended June 30, 2012
Derivatives in Net Investment Hedging
(in thousands)	Gain (Loss) in AOCI		Classification of Gains (Losses)	Gain (Loss) Recognized in Income
Cross currency interest rate swaps	$	23,415	Interest income	$	1,633
			Interest expense	(1,618		)
Total	$	23,415		$	15

Six Months Ended June 30, 2011
Derivatives in Net Investment Hedging
(in thousands)	Gain (Loss) in AOCI			Classification of Gains (Losses)	Gain (Loss) Recognized in Income
Cross currency interest rate swaps	$	(112,703	)	Interest income	$	369
				Interest expense	(2,291		)
Total	$	(112,703	)		$	(1,922	)

The following tables summarize the statements of operations impact of the Company's hedges of fair value for the three and six months ended June 30, 2012 and 2011:

Derivatives in Fair Value Hedging
	Classification	Three Months Ended June 30,
(in thousands)	of Gains (Losses)	2012		2011
Interest rate contracts	Interest expense	$	646	$	615
Total		$	646	$	615

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Derivatives in Fair Value Hedging
	Classification	Six Months Ended June 30,
(in thousands)	of Gains (Losses)	2012		2011
Interest rate contracts	Interest expense	$	1,485	$	615
Total		$	1,485	$	615

The following table summarizes the statements of operations impact of the Company's hedges not designated as hedging for the three and six months ended June 30, 2012 and 2011:

Derivatives Not Designated as Hedging
	Classification	Three Months Ended June 30,
(in thousands)	of Gains (Losses)	2012			2011
Foreign exchange forward contracts	Other expense, net	$	(2,545	)	$	(394	)
DIO equity option contracts	Other expense, net	95			26
Interest rate contracts	Interest expense	(45		)	107
Cross currency interest rate contracts (a)	Other expense, net	(30,427		)	—
Cross currency interest rate contracts	Interest expense	(261		)	—
Cross currency interest rate contracts	Interest income	27			—
Total		$	(33,156	)	$	(261	)

Derivatives Not Designated as Hedging
	Classification	Six Months Ended June 30,
(in thousands)	of Gains (Losses)	2012			2011
Foreign exchange forward contracts	Other expense, net	$	306		$	1,309
DIO equity option contracts	Other expense, net	(178		)	26
Interest rate contracts	Interest expense	(87		)	51
Cross currency interest rate contracts (a)	Other expense, net	(12,301		)	—
Cross currency interest rate contracts	Interest expense	(261		)	—
Cross currency interest rate contracts	Interest income	446			—
Total		$	(12,075	)	$	1,386

(a) The gains and losses on these derivative transactions offset the gains and losses generated by the revaluation of the underlying intercompany loans which are recorded in “Other expense (income), net” on the consolidated statements of operations.

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Amounts recorded in AOCI related to cash flow hedging instruments at:

	Three Months Ended June 30,						Six Months Ended June 30,
(in thousands, net of tax)	2012			2011			2012			2011
Beginning balance	$	(13,944	)	$	(2,275	)	$	(12,737	)	$	(1,468	)
Changes in fair value of derivatives	3,054			6,137			2,277			5,101
Reclassifications to earnings from equity	(1,267		)	467			(1,697		)	696
Total activity	1,787			6,604			580			5,797
Ending balance	$	(12,157	)	$	4,329		$	(12,157	)	$	4,329

Amounts recorded in AOCI related to hedges of net investments in foreign operations at:

	Three Months Ended June 30,						Six Months Ended June 30,
(in thousands, net of tax)	2012			2011			2012			2011
Beginning balance	$	(42,524	)	$	106,664		$	(143,730	)	$	45,417
Foreign currency translation adjustment	(175,281		)	66,059			(48,473		)	152,497
Changes in fair value of:
Foreign currency debt	(1,262		)	(6,687		)	4,062			(5,673		)
Derivative hedge instruments	45,303			(42,995		)	14,377			(69,200		)
Total activity	(131,240		)	16,377			(30,034		)	77,624
Ending balance	$	(173,764	)	$	123,041		$	(173,764	)	$	123,041

NOTE 11 – FAIR VALUE MEASUREMENT

The Company records financial instruments at fair value with unrealized gains and losses related to certain financial instruments reflected in AOCI on the consolidated balance sheets.  In addition, the Company recognizes certain liabilities at fair value.  The Company applies the market approach for recurring fair value measurements.  Accordingly, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs.

The fair value of financial instruments is determined by reference to various market data and other valuation techniques as appropriate. The Company believes the carrying amounts of cash and cash equivalents, accounts receivable (net of allowance for doubtful accounts), prepaid expenses and other current assets, accounts payable, accrued liabilities, income taxes payable and notes payable approximate fair value due to the short-term nature of these instruments.  The Company estimated the fair value and carrying value of total long-term debt, including the current portion, was $1,524.4 million and $1,483.9 million, respectively, at June 30, 2012.   At December 31, 2011, the Company estimated the fair value and carrying value, including the current portion, was $1,512.5 million and $1,491.4 million respectively.  The interest rate on the $450.0 million Senior Notes, the $300.0 million Senior Notes, and the $250.0 million PPN are fixed rates of 4.1%, 2.8% and 4.1%, respectively, and their fair value is based on the interest rates as of June 30, 2012. The interest rates on variable rate term loan debt and commercial paper are consistent with current market conditions, therefore the fair value of these instruments approximates their carrying values.

The following tables set forth by level within the fair value hierarchy the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis at June 30, 2012 and December 31, 2011, which are classified as “Cash and cash equivalents,” “Prepaid expenses and other current assets,” “Other noncurrent assets, net,” “Accrued liabilities,” and “Other noncurrent liabilities” on the consolidated balance sheets.  Financial assets and liabilities that are recorded at fair value as of the balance sheet date are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.

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	June 30, 2012
(in thousands)	Total		Level 1		Level 2		Level 3
Assets
Interest rate swaps	$	5,661	$	—	$	5,661	$	—
Cross currency interest rate swaps	31,494		—		31,494		—
Foreign exchange forward contracts	10,569		—		10,569		—
Corporate convertible bonds	68,396		—		—		68,396
Total assets	$	116,120	$	—	$	47,724	$	68,396
Liabilities
Interest rate swaps	$	2,318	$	—	$	2,318	$	—
Commodity forward purchase contracts	109		—		109		—
Cross currency interest rate swaps	185,723		—		185,723		—
Foreign exchange forward contracts	2,772		—		2,772		—
Long term debt	154,895		—		154,895		—
Contingent considerations on acquisitions	823		—		—		823
DIO equity option contracts	580		—		—		580
Total liabilities	$	347,220	$	—	$	345,817	$	1,403

	December 31, 2011
(in thousands)	Total		Level 1		Level 2		Level 3
Assets
Money market funds	$	10,516	$	10,516	$	—	$	—
Interest rate swaps	5,699		—		5,699		—
Commodity forward purchase contracts	15		—		15		—
Cross currency interest rate swaps	19,838		—		19,838		—
Foreign exchange forward contracts	8,303		—		8,303		—
Corporate convertible bonds	47,850		—		—		47,850
Total assets	$	92,221	$	10,516	$	33,855	$	47,850
Liabilities
Interest rate swaps	$	1,631	$	—	$	1,631	$	—
Commodity forward purchase contracts	259		—		259		—
Cross currency interest rate swaps	199,454		—		199,454		—
Foreign exchange forward contracts	3,898		—		3,898		—
Long term debt	154,512		—		154,512		—
Contingent considerations on acquisitions	2,917		—		—		2,917
DIO equity option contracts	419		—		—		419
Total liabilities	$	363,090	$	—	$	359,754	$	3,336

Derivative valuations are based on observable inputs to the valuation model including interest rates, foreign currency exchange rates, future commodities prices and credit risks.  The commodity contracts, certain interest rate swaps and foreign exchange forward contracts are considered cash flow hedges and certain cross currency interest rate swaps are considered hedges of net investments in foreign operations as discussed in Note 10, Financial Instruments and Derivatives.

The Company uses the income method valuation technique to estimate the fair value of the corporate bonds.  The significant unobservable inputs for valuing the corporate bonds are DIO Corporation’s stock volatility factor of approximately 40% and corporate bond rating which implies an approximately 15% discount rate on the valuation model.  Significant observable inputs used to value the corporate bonds include foreign exchange rates and DIO Corporation’s period-ending market stock price.

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The Company has valued the DIO equity option contracts using a Monte Carlo simulation which uses several estimates and probability assumptions by management including the future stock price, the stock price as a multiple of DIO earnings and the probability of the sellers to reduce their shares held by selling into the open market.  The fair value of equity option contracts are reported in “Other noncurrent liabilities,” on the consolidated balance sheets and changes in the fair value are reported in “Other expense (income), net” on the consolidated statements of operations.

Certain purchase agreements for acquisitions completed after January 1, 2009 contain provisions where the seller could receive additional consideration based on the future operating performance of the acquired business.  In accordance with US GAAP, the Company has recorded the fair value of these additional payments on the acquisition date. The fair value was based on a probability-weighted average payout discounted using a market rate of approximately 5%.  The fair value is subject to management’s estimates at the time of the acquisition and is based upon level 3 inputs.  The fair values of these additional payments are reported in “Other noncurrent liabilities,” on the consolidated balance sheets. 

The following table presents a reconciliation of the Company’s level 3 holdings measured at fair value on a recurring basis using unobservable inputs:

(in thousands)	Corporate Convertible Bonds			DIO Equity Options Contracts			Contingent Considerations
Balance at December 31, 2011	$	47,850		$	(424	)	$	2,917
Payments, gross	—			—			(1,781		)
Adjustments:
Reported in selling, general and administrative expense	—			—			(326		)
Unrealized gain:
Reported in AOCI	22,023			—			—
Unrealized loss:
Reported in other expense (income), net	—			(178		)	—
Effects of exchange rate changes	(1,477		)	14			13
Balance at June 30, 2012	$	68,396		$	(588	)	$	823

For the six months ended June 30, 2012, there were no purchases, issuances or transfers of level 3 financial instruments. The Company paid $1.8 million of contingent considerations.

NOTE 12 – INCOME TAXES

Uncertainties in Income Taxes

The Company recognizes in the consolidated financial statements, the impact of a tax position, if that position is more likely than not of being sustained on audit, based on the technical merits of the position.

It is reasonably possible that certain amounts of unrecognized tax benefits will significantly increase or decrease within twelve months of the reporting date of the Company’s consolidated financial statements. Final settlement and resolution of outstanding tax matters in various jurisdictions during the next twelve months could include unrecognized tax benefits of approximately $1.3 million.  In addition, expiration of statutes of limitation in various jurisdictions during the next twelve months could include unrecognized tax benefits of approximately $0.3 million.

NOTE 13 - FINANCING ARRANGEMENTS

The Company estimated the fair value and carrying value of its total long-term debt, including the current portion, was $1,512.8 million and $1,482.6 million, respectively, at June 30, 2012. At December 31, 2011, the fair value and the carrying value of its total long-term debt, including the current portion, were $1,512.5 million and $1,491.4 million, respectively. The terms on existing variable rate debt, including commercial paper, approximate current market conditions; therefore, the fair values of these instruments approximate their carrying values. The Company has assigned the long-term debt a Level 2 fair value measurement, as more fully described in Note 11, Fair Value Measurements.

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NOTE 14 - GOODWILL AND INTANGIBLE ASSETS

A reconciliation of changes in the Company’s goodwill is as follows:

(in thousands)	Dental Consumable and Laboratory Businesses			Orthodontics/Canada/Mexico/Japan			Select Distribution Businesses			Implants/Endodontics/Healthcare/Pacific Rim			Total
Balance at December 31, 2011	$	484,779		$	102,950		$	108,566		$	1,493,768		$	2,190,063
Adjustment of provisional amounts on prior acquisition	—			—			—			(144,530		)	(144,530		)
Business unit transfer	—			—			2,132			(2,132		)	—
Effects of exchange rate changes	(2,054		)	(641		)	(6,602		)	(152		)	(9,449		)
Balance at June 30, 2012	$	482,725		$	102,309		$	104,096		$	1,346,954		$	2,036,084

Identifiable definite-lived and indefinite-lived intangible assets consist of the following:

	June 30, 2012							December 31, 2011
(in thousands)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Patents	$	129,570	$	(23,573	)	$	105,997	$	131,252	$	(17,393	)	$	113,859
Trademarks	85,228		(40,659		)	44,569		73,413		(23,885		)	49,528
Licensing agreements	30,412		(18,094		)	12,318		30,444		(17,277		)	13,167
Customer relationships	703,249		(137,130		)	566,119		411,626		(19,066		)	392,560
Total definite-lived	$	948,459	$	(219,456	)	$	729,003	$	646,735	$	(77,621	)	$	569,114
Trademarks	$	209,993	$	—		$	209,993	$	210,675	$	—		$	210,675
In-process R&D	8,751		—			8,751		11,311		—			11,311
Total indefinite-lived	$	218,744	$	—		$	218,744	$	221,986	$	—		$	221,986
Total identifiable intangible assets	$	1,167,203	$	(219,456	)	$	947,747	$	868,721	$	(77,621	)	$	791,100

NOTE 15 - COMMITMENTS AND CONTINGENCIES

Litigation

On June 18, 2004, Marvin Weinstat, DDS and Richard Nathan, DDS filed a class action suit in San Francisco County, California alleging that the Company misrepresented that its Cavitron® ultrasonic scalers are suitable for use in oral surgical procedures. 

The Complaint seeks a recall of the product and refund of its purchase price to dentists who have purchased it for use in oral surgery. The Court certified the case as a class action in June 2006 with respect to the breach of warranty and unfair business practices claims. The class that was certified is defined as California dental professionals who purchased and used one or more Cavitron® ultrasonic scalers for the performance of oral surgical procedures. The case is pending in the San Francisco County Court. As the result of several hearings, the Judge has held that the class period will be from June 2000 to the present. The Class Notice, once approved by the Court, will be mailed to dentists licensed to practice in California during the class period from June 2000 to the present.

On December 12, 2006, a Complaint was filed by Carole Hildebrand, DDS and Robert Jaffin, DDS in the Eastern District of Pennsylvania (the Plaintiffs subsequently added Dr. Mitchell Goldman as a named class representative).  The case was filed by the same law firm that filed the Weinstat case in California.  The Complaint asserts putative class action claims on behalf of dentists located in New Jersey and Pennsylvania. The Complaint seeks damages and asserts that the Company's Cavitron® ultrasonic

30

scaler was negligently designed and sold in breach of contract and warranty arising from misrepresentations about the potential uses of the product because it cannot assure the delivery of potable or sterile water. Plaintiffs have filed their motion for class certification to which the Company has filed its response. The Company also filed other motions, including a motion to dismiss the claims of Drs. Hildebrand and Jaffin for lack of standing. The Court granted this motion for lack of standing of the individuals and did not allow the plaintiffs to amend the complaint to substitute their corporate practices, leaving Dr. Goldman as the only putative class representative, raising a question of jurisdiction of the U.S. District Court. Subsequently, the Court issued an Order dismissing this case on the grounds that it did not have jurisdiction over the matter. The plaintiffs filed a second complaint (under the name “Center City Periodontists”) after the Court granted the initial Motion for lack of standing, in which they named the corporate practices of Drs. Hildebrand and Jaffin as class representatives. The Company has moved to dismiss this complaint and the Court has not yet ruled on this Motion.

The Company does not believe a loss is probable related to the above litigation. Further a reasonable estimate of a possible range of loss cannot be made.   In the event that one or more of these matters is unfavorably resolved, it is possible the Company's results from operations could be materially impacted.

Purchase Commitments

From time to time, the Company enters into long-term inventory purchase commitments with minimum purchase requirements for raw materials and finished goods to ensure the availability of products for production and distribution.  These commitments may have a significant impact on levels of inventory maintained by the Company.

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DENTSPLY International Inc. and Subsidiaries

Item 2 - Management’s Discussion and Analysis of Financial Condition and Results of Operations

This report contains information that may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Generally, the use of terms such as “may,” “could,” “expect,” “intend,” “believe,” “plan,” “estimate,” “forecast,” “project,” “anticipate,” and similar expressions identify forward-looking statements. All statements that address operating performance, events or developments that DENTSPLY International Inc. (“DENTSPLY” or the “Company”) expects or anticipates will occur in the future are forward-looking statements. Forward-looking statements are based on management's current expectations and beliefs, and are inherently susceptible to uncertainty, risks, and changes in circumstances that could cause actual results to differ materially from the Company's historical experience and our present expectations or projections. These risks and uncertainties include, but are not limited to, those described in Part I, Item 1A (“Risk Factors”) of the Company's Form 10-K for the year ended December 31, 2011 and those described from time to time in our future reports filed with the Securities and Exchange Commission. The Company undertakes no duty and has no obligation to update forward-looking statements as a result of future events or developments.

OVERVIEW

Quarter Highlights

• In the three months ended June 30, 2012, the Company achieved record second quarter sales. Sales in the period grew by 25.2% on a US GAAP reported basis and grew 23.8%, excluding precious metal content. The sales growth excluding precious metal content was driven by acquisition growth of 26.4%, while internal growth added 3.6%, and currency translation was negative 6.2%. Internal growth excluding Orthodontics and our businesses in Japan was 3.9%. This internal growth was comprised of growth in the United States of 2.9%, while Europe reported 2.6% and rest of world had 8.1%.

• The Company is proceeding with its integration efforts for the Astra Tech acquisition that was completed on August 31, 2011. During the quarter the Company completed the integration of the dental implant organization in the United States. The Company expects to complete integration activities in several countries throughout Europe during the remaining quarters in 2012 and early 2013.

• The Company's Orthodontics recovery plan is also proceeding. The supply situation has continued to improve, and more complete shipments are being received. The impact on year-over-year earnings was neutral in the second quarter and approximately a negative $0.04 per diluted share in the first six months of 2012. The earnings impact is expected to continue to be positive on a year-over-year basis in the third and fourth quarters of 2012.

• The rapid strengthening of the U.S. dollar has negatively impacted top-line sales growth and earnings per share and is expected to continue to have a negative impact through the third and fourth quarter of 2012.

Company Profile

DENTSPLY International Inc. is a leading manufacturer and distributor of dental and other healthcare products.  The Company believes it is the world's largest manufacturer of professional dental products.  For over 110 years, DENTSPLY's commitment to innovation and professional collaboration has enhanced its portfolio of branded consumables and small equipment.  Headquartered in the United States, the Company has global operations with sales in more than 120 countries. The Company also has strategically located distribution centers to enable it to better serve its customers and increase its operating efficiency. While the United States and Europe are the Company's largest markets, the Company serves all major markets worldwide.

Principal Products

The Company has four main product categories: 1) Dental Consumable Products; 2) Dental Laboratory Products; 3) Dental Specialty Products; and 4) Consumable Medical Device Products.

Dental consumable products consist of dental sundries and small equipment used in dental offices by general practitioners in the treatment of patients. The Company manufactures a wide variety of different dental sundry consumable products marketed under more than one hundred brand names.  DENTSPLY’s dental sundry products within this category include dental anesthetics, prophylaxis paste, dental sealants, impression materials, restorative materials, tooth whiteners and topical fluoride.  Small equipment products in the dental consumable category consist of various durable goods used in dental offices for treatment of

32

patients.  DENTSPLY’s small equipment products include high and low speed handpieces, intraoral curing light systems, dental diagnostic systems, and ultrasonic scalers and polishers.

Dental laboratory products are used in the preparation of dental appliances by dental laboratories.  DENTSPLY’s products within this category include dental prosthetics, artificial teeth, precious metal dental alloys, dental ceramics, and crown and bridge materials.  This category also includes fabricated dental appliances, computer aided design software and centralized manufacturing of frameworks. Equipment in this category includes computer aided machining ceramic systems and porcelain furnaces.

Dental specialty products are specialized treatment products used within the dental office and laboratory settings.  DENTSPLY’s products within this category include endodontic instruments and materials, implants and related products, bone grafting materials, 3D digital implantology, dental lasers and orthodontic appliances and accessories.

Consumable medical device products consist mainly of urological products including catheters, certain surgical products, medical drills and other non-medical products.

Principal Measurements

The principal measurements used by the Company in evaluating its business are: (1) internal growth by geographic region; (2) constant currency growth by geographic region; (3) operating margins of each reportable segment including product pricing and cost controls; (4) the development, introduction and contribution of innovative new products; and (5) growth through acquisition.

The Company defines “internal growth” as the increase or decrease in net sales from period to period, excluding (1) precious metal content; (2) the impact of changes in currency exchange rates; and (3) net acquisition growth. The Company defines “net acquisition growth” as the net sales for a period of twelve months following the transaction date of businesses that have been acquired, less the net sales for a period of twelve months prior to the transaction date of businesses that have been divested. The Company defines “constant currency growth” as internal growth plus net acquisition growth.

Management believes that an average internal growth rate of 4% to 6% is a long-term targeted rate for the Company. The internal growth rate may vary outside of this range based on weaker or stronger economic conditions.  Management believes the Company may operate below this range for 2012 primarily due to the economic uncertainty in Europe and impact on the global economies.  There can be no assurance that the Company’s assumptions concerning the growth rates in its markets will continue in the future.  If such rates are less than expected, the Company’s projected growth rates and results of operations may be adversely affected.

Price changes, other marketing and promotional programs offered to customers from time to time, the management of inventory levels by distributors and the implementation of strategic initiatives may impact sales and inventory levels in a given period.

The Company has always maintained a focus on minimizing costs and achieving operational efficiencies. Management continues to evaluate the consolidation of operations or functions to reduce costs. In addition, the Company remains focused on enhancing efficiency through expanded use of technology and process improvement initiatives. The Company believes that the benefits from these initiatives will improve the cost structure and help offset areas of rising costs such as energy, employee benefits and regulatory oversight and compliance.

Product innovation is a key component of the Company's overall growth strategy. New advances in technology are anticipated to have a significant influence on future products in dentistry. As a result, the Company continues to pursue research and development initiatives to support technological development, including collaborations with various research institutions and dental schools. In addition, the Company licenses and purchases technologies developed by third parties. Although the Company believes these activities will lead to new innovative dental products, they involve new technologies and there can be no assurance that commercialized products will be developed.

The Company will continue to pursue opportunities to expand the Company's product offerings through acquisitions. Although the professional dental and the consumable medical device markets in which the Company operates has experienced consolidation, it is still a fragmented industry. Management believes that there will continue to be adequate opportunities to participate as a consolidator in the industry for the foreseeable future, however it will be very focused in the near-term on the integration of recent acquisitions and associated debt reduction.

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Impact of the Natural Disaster in Japan

 The Company's Orthodontic and Japanese businesses have been negatively impacted as a result of the natural disaster that occurred in Japan in March of 2011. The Company's Orthodontic business has a key supplier located in Japan whose manufacturing was substantially curtailed as a result of the natural disaster. The supplier is now operating at a new location and is improving supply delivery. As a result, the Company's sales of orthodontic products were nearly flat for the three months end June 30, 2012 as compared with the three months ended June 30, 2011, resulting in a neutral impact to the period's year-over-year earnings. Sales were down 15.8% for the first six months of 2012 as compared with the same period of 2011, resulting in a negative impact on earnings of approximately $0.04 per diluted share. The Company is receiving increased shipments of components from its supplier in Japan and expects to show positive quarter over quarter results in the third quarter. The Company expects this business to show a slightly improved year-over-year comparison for 2012. The Company has begun the re-launch of several of the affected product lines.

Impact of Foreign Currencies

Due to the international nature of DENTSPLY's business, movements in foreign exchange rates may impact the consolidated statements of operations. With over 69% of the Company's sales located in regions outside the United States, the Company's consolidated net sales are impacted negatively by the strengthening or positively by the weakening of the U.S. dollar. Additionally, movements in certain foreign exchange rates may unfavorably or favorably impact the Company's results of operations, financial condition and liquidity.

RESULTS OF OPERATIONS, QUARTER ENDED JUNE 30, 2012 COMPARED TO QUARTER ENDED JUNE 30, 2011

Net Sales

Management believes that the presentation of net sales, excluding precious metal content, provides useful information to investors because a significant portion of DENTSPLY’s net sales is comprised of sales of precious metals generated through sales of the Company’s precious metal dental alloy products, which are used by third parties to construct crown and bridge materials.  Due to the fluctuations of precious metal prices and because the precious metal content of the Company’s sales is largely a pass-through to customers and has minimal effect on earnings, DENTSPLY reports net sales both with and without precious metal content to show the Company’s performance independent of precious metal price volatility and to enhance comparability of performance between periods.  The Company uses its cost of precious metal purchased as a proxy for the precious metal content of sales, as the precious metal content of sales is not separately tracked and invoiced to customers.  The Company believes that it is reasonable to use the cost of precious metal content purchased in this manner since precious metal dental alloy sale prices are typically adjusted when the prices of underlying precious metals change.

The presentation of net sales, excluding precious metal content, is considered a measure not calculated in accordance with the generally accepted accounting principles in the United States (“US GAAP”), and is therefore considered a non-US GAAP measure.  The Company provides the following reconciliation of net sales to net sales, excluding precious metal content.  The Company’s definitions and calculations of net sales, excluding precious metal content, and other operating measures derived using net sales, excluding precious metal content, may not necessarily be the same as those used by other companies.

	Three Months Ended
	June 30,
(in millions)	2012		2011		$ Change		% Change
Net sales	$	763.0	$	609.4	$	153.6	25.2	%
Less: precious metal content of sales	64.5		45.4		19.1		42.1	%
Net sales, excluding precious metal content	$	698.5	$	564.0	$	134.5	23.8	%

Net sales, excluding precious metal content, for the three months ended June 30, 2012 was $698.5 million, an increase of 23.8% over the second quarter of 2011.  The change in net sales, excluding precious metal content, was primarily a result of the acquisition growth of $148.9 million, or 26.4%.  Foreign currency translation negatively impacted sales growth by 6.2%.   Internal growth was 3.6% and excluding sales in the Japanese market and Orthodontic businesses, internal growth was 3.9%.

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Constant Currency and Internal Sales Growth

The following table includes growth rates for net sales, excluding precious metal content, for the three months ended June 30, 2012 compared with the three months ended June 30, 2011.

	Three Months Ended June 30, 2012
	United States		Europe		All Other Regions		Worldwide
Internal sales growth	1.0	%	2.8	%	8.6	%	3.6	%
Acquisition sales growth	15.2	%	43.0	%	14.3	%	26.4	%
Constant currency sales growth	16.2	%	45.8	%	22.9	%	30.0	%
Adjusted internal sales growth (a)	2.9	%	2.6	%	8.1	%	3.9	%

(a) Excludes Japanese market and Orthodontic business.

United States

Net sales, excluding precious metal content, increased by 16.2% for the second quarter of 2012 compared to the second quarter of 2011 on a constant currency basis, including 15.2% of acquisition growth and 1.0% of internal sales growth.  Excluding the orthodontic business, the internal growth rate in the United States was 2.9%. This adjusted internal growth rate was a result of growth across all product categories.

Europe

Net sales, excluding precious metal content, increased by 45.8% in the second quarter of 2012 on a constant currency basis, including 2.8% of internal sales growth.  Excluding the orthodontic business, the internal growth rate was 2.6% and was the result of increased demand for dental specialty and dental consumables products, partially offset by decreased sales of precious metal alloy products in the dental laboratory products.

All Other Regions

Net sales, excluding precious metal content, in the other regions of the world increased by 22.9% on a constant currency basis, which includes 8.6% of internal sales growth.  Excluding the Japanese market and orthodontic business, the resulting internal growth was 8.1%.  This adjusted internal growth was led by growth primarily in dental specialty products.

Gross Profit

	Three Months Ended
	June 30,
(in millions)	2012			2011			$ Change		% Change
Gross profit	$	407.5		$	314.9		$	92.6	29.4	%
Gross profit as a percentage of net sales, including precious metal content	53.4		%	51.7		%
Gross profit as a percentage of net sales, excluding precious metal content	58.3		%	55.8		%

Gross profit as a percentage of net sales, excluding precious metal content, increased by 2.5 percentage points for the three months ended June 30, 2012 compared to the same quarter of 2011.   The margin rate was primarily impacted by positive manufacturing performance, foreign currency impacts, as well as favorable product mix, including the mix of recent acquisitions and product pricing.

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Operating Expenses

	Three Months Ended
	June 30,
(in millions)	2012			2011			$ Change			% Change
Selling, general and administrative expenses (“SG&A”)	$	296.0		$	211.0		$	85.0		40.3	%
Restructuring and other costs	$	2.5		$	6.9		$	(4.4	)	NM
SG&A as a percentage of net sales, including precious metal content	38.8		%	34.6		%
SG&A as a percentage of net sales, excluding precious metal content	42.4		%	37.4		%

NM – Not meaningful

SG&A Expenses

SG&A expenses as a percentage of net sales, excluding precious metal content, increased in the quarter end June 30, 2012 by 5.0 percentage points when compared to the same quarter of 2011.  Increased expenses as a percent of net sales, excluding precious metal content, over the prior year is primarily a result of the higher expense rate of the Astra Tech business, and $8.3 million of amortization primarily associated with intangible assets from 2011 acquisitions and expenses associated with key global marketing events. The second quarter of 2012 also included $4.4 million for expenses related to integration costs. The second quarter of 2011 included $0.6 million of amortization expense related to acquired intangible assets. 

Restructuring and Other Costs

During the three months ended June 30, 2012, the Company recorded restructuring and other costs of $2.5 million.   In the same period of 2011, the Company incurred costs of $6.9 million. (See also Note 9, Restructuring and Other Costs, of the Notes to Unaudited Interim Consolidated Financial Statements).

Other Income and Expense

	Three Months Ended June 30,
(in millions)	2012		2011		Change
Net interest expense	$	12.6	$	3.1	$	9.5
Other expense (income), net	0.7		1.4		(0.7		)
Net interest and other expense	$	13.3	$	4.5	$	8.8

Net Interest Expense

Net interest expense for the three months ended June 30, 2012 was $9.5 million higher compared to the three months ended June 30, 2011. The increase is due to increased interest expense as a result of higher overall debt in support of recent acquisitions.

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Income Taxes and Net Income

	Three Months Ended June 30,
(in millions, except per share data)	2012			2011			$ Change
Effective income tax rates	15.6		%	19.4		%
Equity in net income (loss) of unconsolidated affiliated company	$	1.3		$	0.9		$	0.4
Net income attributable to noncontrolling interests	$	1.3		$	1.2		$	0.1
Net income attributable to DENTSPLY International	$	80.8		$	74.2		$	6.6
Earnings per common share - diluted	$	0.56		$	0.52

Provision for Income Taxes

The Company's effective tax rates for the second quarter of 2012 and 2011 were 15.6% and 19.4%, respectively. The effective tax rate for 2012 is favorably impacted by the Company's favorable resolution of tax contingencies, change in assumptions surrounding the repatriation of foreign earnings into the United States, acquisition restructuring activities, as well as an improvement from the mix of consolidated earnings.

The Company’s effective income tax rate for 2012 also included the impact of amortization on purchased intangibles assets, integration and restructuring and other costs and various income tax adjustments which impacted income before income taxes and the provision for income taxes by $20.7 million and $12.0 million, respectively.  In 2011, the Company’s effective income tax rate included the impact of acquisition related activity, restructuring and other costs, income related to a credit risk adjustment on outstanding derivatives and various income tax adjustments which impacted income before income taxes and the provision for income taxes by $6.7 million and $1.7 million, respectively.

Equity in net income (loss) of unconsolidated affiliated company

The Company’s 17% ownership investment of DIO Corporation resulted in income of $1.3 million on an after-tax basis for the three months ended June 30, 2012.  The net income of DIO includes the result of a positive fair value adjustment related to the convertible bonds issued by DIO to DENTSPLY.  The fair value adjustments related to the convertible bonds reported by DIO are primarily impacted by changes in the DIO share price.  The impact of changes in the DIO share price on the fair value adjustment for the three months ended June 30, 2012 and 2011 was income of approximately $1.0 million and $1.2 million, respectively.

Net Income attributable to DENTSPLY International

In addition to the results reported in accordance with US GAAP, the Company provides adjusted net income attributable to DENTSPLY International and adjusted earnings per diluted common share.  These adjusted amounts consist of US GAAP amounts excluding, net of tax (1) acquisition related costs, (2) restructuring and other costs, (3) amortization of purchased intangible assets, (4) Orthodontic business continuity costs, (5) income related to credit risk adjustments, (6) certain fair value adjustments at an unconsolidated affiliated company, and (7) income tax related adjustments. Adjusted earnings per diluted common share is calculated by dividing adjusted net income attributable to DENTSPLY International by diluted weighted-average common shares outstanding. Adjusted net income attributable to DENTSPLY International and adjusted earnings per diluted common share are considered measures not calculated in accordance with US GAAP, and therefore are non-US GAAP measures.  These non-US GAAP measures may differ from other companies. Income tax related adjustments may include the impact to adjust the interim effective income tax rate to the expected annual effective tax rate.

The Company believes that the presentation of adjusted net income attributable to DENTSPLY International and adjusted earnings per diluted common share provides important supplemental information to management and investors seeking to understand the Company's financial condition and results of operations.  The non-US GAAP financial information should not be considered in isolation from, or as a substitute for, measures of financial performance prepared in accordance with US GAAP.

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	Three Months Ended June 30, 2012
(in thousands, except per share amounts)	Income (Expense)			Per Diluted Common Share
Net income attributable to DENTSPLY International	$	80,764		$	0.56
Amortization of purchased intangible assets, net of tax	9,007			0.06
Acquisition related activities, net of tax	2,993			0.02
Restructuring and other costs, net of tax	1,990			0.02
Orthodontics business continuity costs, net of tax	213			—
Gain on fair value adjustments at an unconsolidated affiliated company, net of tax	(1,060		)	(0.01		)
Income tax related adjustments	(5,380		)	(0.03		)
Adjusted non-US GAAP earnings	$	88,527		$	0.62

	Three Months Ended June 30, 2011
(in thousands, except per share amounts)	Income (Expense)			Per Diluted Common Share
Net income attributable to DENTSPLY International	$	74,236		$	0.52
Acquisition related activities, net of tax	6,164			0.04
Amortization of purchased intangible assets, net of tax	1,497			0.01
Restructuring and other costs, net of tax	591			0.01
Orthodontics business continuity costs, net of tax	442			0.01
Credit risk adjustment to outstanding derivatives, net of tax	(783		)	(0.01		)
Income tax related adjustments	(977		)	(0.01		)
Loss on fair value adjustments at an unconsolidated affiliated company, net of tax	(1,180		)	(0.01		)
Adjusted non-US GAAP earnings	$	79,990		$	0.56

Operating Segment Results

Third Party Net Sales, Excluding Precious Metal Content

	Three Months Ended
	June 30,
(in millions)	2012		2011		$ Change			% Change
Dental Consumable and Laboratory Businesses	$	206.9	$	214.2	$	(7.3	)	(3.4	)%
Orthodontics/Canada/Mexico/Japan	$	77.0	$	77.4	$	(0.4	)	(0.5	)%
Select Distribution Businesses	$	77.1	$	80.5	$	(3.4	)	(4.2	)%
Implants/Endodontics/Healthcare/Pacific Rim	$	340.3	$	193.5	$	146.8		75.9	%

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Segment Operating Income

	Three Months Ended
	June 30,
(in millions)	2012		2011		$ Change			% Change
Dental Consumable and Laboratory Businesses	$	63.3	$	61.5	$	1.8		2.9	%
Orthodontics/Canada/Mexico/Japan	$	3.9	$	4.3	$	(0.4	)	(9.3	)%
Select Distribution Businesses	$	0.1	$	0.6	$	(0.5	)	NM
Implants/Endodontics/Healthcare/Pacific Rim	$	77.2	$	63.2	$	14.0		22.2	%

NM – Not meaningful

Dental Consumable and Laboratory Businesses

Net sales, excluding precious metal content, decreased $7.3 million, or 3.4%, during the three months ended June 30, 2012 compared to 2011.  On a constant currency basis, net sales, excluding precious metal content, increased 1.2%.  This increase was primarily the result of higher demand in dental consumables businesses partially offset by lower sales of precious metal alloy products in the dental laboratory businesses.

Operating income increased by 2.9% during the three months ended June 30, 2012 compared to 2011.  Gross profit decreased by $2.0 million as a result of unfavorable currency translation.  SG&A expenses decreased by $3.8 million due to the favorable impact of currency translation.

Orthodontics/Canada/Mexico/Japan

Net sales, excluding precious metal content, decreased by $0.4 million during the three months ended June 30, 2012 compared to 2011. On a constant currency basis, net sales, excluding precious metal content, increased 2.5% due to stronger dental consumable sales, while the sales in the orthodontic businesses were nearly flat with the prior year period.

Operating income decreased $0.4 million compared to the same year ago period. Selling, general and administrative expenses increased $0.9 million partially offset by gross profit improvements.

Select Distribution Businesses

Net sales, excluding precious metal content, decreased $3.4 million, or 4.2%, during the three months ended June 30, 2012 compared to 2011.  On a constant currency basis, net sales, excluding precious metal content, increased 8.3% when compared to the same period of 2011.  The growth was primarily related to increased sales of dental consumables and dental specialty products.

Operating income decreased $0.5 million during the three months ended June 30, 2012 compared to 2011.  Gross profit decreased $3.8 million, primarily as a result of unfavorable currency translation.   SG&A expenses decreased by $3.3 million, primarily due to the favorable impact of currency translation.

Implants/Endodontics/Healthcare/Pacific Rim

Net sales, excluding precious metal content, increased $146.8 million, or 75.9%, during the three months ended June 30, 2012 compared to 2011.  On a constant currency basis, net sales, excluding precious metal content, increased 82.4% primarily driven by acquisitions, coupled with solid internal growth.

Operating income for the three months ended June 30, 2012 increased $14.0 million or 22.2%, compared to 2011. Gross profit increased $99.0 million primarily due to acquisitions and constant currency sales growth, partially offset by the unfavorable impact of currency translation. SG&A expenses increased $85.0 million primarily due to acquisitions partially offset by $12.2 million in favorable impact of currency translation.

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RESULTS OF OPERATIONS, SIX MONTHS ENDED JUNE 30, 2012 COMPARED TO SIX MONTHS ENDED JUNE 30, 2011

Net Sales

The following is a reconciliation of net sales to net sales, excluding precious metals content.

	Six Months Ended
	June 30,
(in millions)	2012		2011		$ Change		% Change
Net sales	$	1,479.4	$	1,179.9	$	299.5	25.4	%
Less: precious metal content of sales	115.3		88.9		26.4		29.7	%
Net sales, excluding precious metal content	$	1,364.1	$	1,091.0	$	273.1	25.0	%

Net sales, excluding precious metal content, for the six months ended June 30, 2012 was $1,364.1 million, an increase of 25.0% over the same period of 2011. The change in net sales, excluding precious metal content, was the result of constant currency growth of 29.2% and acquisition growth of 26.8%. The constant currency sales growth included internal growth of 2.4%. Excluding the Japanese market and the Orthodontic business, the internal growth rate was 4.2%.

Constant Currency and Internal Sales Growth

The following table includes growth rates for net sales, excluding precious metal content for the six months ended June 30, 2012 compared with the six months ended June 30, 2011.

	Six Months Ended June 30, 2012
	United States		Europe		All Other Regions		Worldwide
Internal sales growth	2.2	%	0.9	%	5.2	%	2.4	%
Acquisition sales growth	15.6	%	42.9	%	14.8	%	26.8	%
Constant currency sales growth	17.8	%	43.8	%	20.0	%	29.2	%
Adjusted internal sales growth (a)	5.1	%	2.4	%	6.4	%	4.2	%

(a) Excludes Japanese market and Orthodontic business.

United States

Net sales, excluding precious metal content, increased by 17.8% for the six months ended June 30, 2012 compared to the same period of 2011 on a constant currency basis, including acquisition growth of 15.6%. Excluding the Orthodontic business, the internal growth rate was 5.1%, primarily due to increases in dental specialty, dental consumables and dental laboratory product sales.

Europe

Net sales, excluding precious metal content, increased by 43.8% for the six months ended June 30, 2012 on a constant currency basis, including acquisition growth of 42.9%. Excluding the Orthodontic business, the internal growth rate was 2.4% and was primarily driven by growth in dental specialty and dental consumables products, partially offset by lower demand for dental laboratory products.

All Other Regions

Net sales, excluding precious metal content, in the other regions of the world increased by 20.0% on a constant currency basis, which includes 5.2% of internal growth. Excluding the Japanese market and Orthodontic business, internal growth was 6.4%,driven primarily by growth in dental specialty products, while sales in dental consumables and dental laboratory products grew slightly.

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Gross Profit

	Six Months Ended
	June 30,						$		%
(in millions)	2012			2011			Change		Change
Gross profit	$	800.2		$	614.8		$	185.4	30.2	%
Gross profit as a percentage of net sales, including precious metal content	54.1		%	52.1		%
Gross profit as a percentage of net sales, excluding precious metal content	58.7		%	56.4		%

Gross profit as a percentage of net sales, excluding precious metal content, increased by 2.3 percentage points for the six months ended June 30, 2012 compared to the same period in 2011. The margin rate was primarily impacted by favorable mix associated with recent acquisitions, positive manufacturing costs, foreign currency translation, as well as product pricing.

Operating Expenses

	Six Months Ended
	June 30,						$			%
(in millions)	2012			2011			Change			Change
Selling, general and administrative expenses (“SG&A”)	$	600.4		$	411.8		$	188.6		45.8	%
Restructuring and other costs	$	3.8		$	7.5		$	(3.7	)	NM
SG&A as a percentage of net sales, including precious metal content	40.6		%	34.9		%
SG&A as a percentage of net sales, excluding precious metal content	44.0		%	37.7		%

NM – Not meaningful

SG&A Expenses

SG&A expenses as a percentage of net sales, excluding precious metal content, increased for the six months ended June 30, 2012 by 6.3 percentage points when compared to the same period of 2011. Increased expenses as a percent of net sales, excluding precious metal content, over the prior year is primarily a result of the higher expense rate of the Astra Tech business and $20.3 million of amortization primarily associated with intangibles from 2011 acquisitions as well as additional expenses associated with key global marketing events. The for the six months ended 2012 also included $10.8 million for expenses related to integration costs. The for the six months ended 2011 included $1.2 million of amortization expense related to acquired intangible assets. 

Restructuring and Other Costs

During the six months ended June 30, 2012 and 2011, the Company recorded restructuring and other costs of $3.8 million and $7.5 million, respectively. (See also Note 9, Restructuring and Other Costs, of the Notes to Unaudited Interim Consolidated Financial Statements).

Other Income and Expense

	Six Months Ended June 30,
(in millions)	2012		2011		Change
Net interest expense	$	26.1	$	7.7	$	18.4
Other expense (income), net	1.2		1.5		(0.3		)
Net interest and other expense	$	27.3	$	9.2	$	18.1

41

Net Interest Expense

Net interest expense for the six months ended June 30, 2012 was $18.4 million higher compared to the six months ended June 30, 2011. The increase is due to increased interest expense as a result of higher overall debt in support of recent acquisitions.

Income Taxes and Net Income

	Six Months Ended June 30,
(in millions, except per share data)	2012			2011			$ Change
Effective income tax rates	17.5		%	22.4		%
Equity in net (loss) earnings of unconsolidated affiliated company	$	(2.9	)	$	0.1		$	(3.0	)
Net income attributable to noncontrolling interests	$	2.2		$	1.5		$	0.7
Net income attributable to DENTSPLY International	$	134.0		$	143.3		$	(9.3	)
Earnings per common share - diluted	$	0.93		$	1.00

Provision for Income Taxes

The Company's effective income tax rates for the first six months of 2012 and 2011 were 17.5% and 22.4%, respectively.The effective tax rate for 2012 is favorably impacted by the Company's favorable resolution of tax contingencies, change in assumptions surrounding the repatriation of foreign earnings into the United States, acquisition restructuring activities, as well as an improvement from the mix of consolidated earnings.

The Company's effective income tax rate for 2012 also included the impact of amortization on purchased intangibles assets, integration and restructuring and other costs and various income tax adjustments which impacted income before income taxes and the provision for income taxes by $46.3 million and $20.0 million, respectively. In 2011, the Company's effective income tax rate included the impact of acquisition related activity, restructuring and other costs, income related to a credit risk adjustment on outstanding derivatives and various income tax adjustments which impacted income before income taxes and the provision for income taxes by $7.3 million and $1.7 million, respectively.

Equity in net income (loss) of unconsolidated affiliated company

The Company's 17% ownership investment of DIO Corporation resulted in a net loss of $2.9 million on an after-tax basis for the six months ended June 30, 2012. The net income of DIO includes the result of a positive fair value adjustment related to the convertible bonds issued by DIO to DENTSPLY. The fair value adjustments related to the convertible bonds reported by DIO are primarily impacted by the changing DIO share price. The impact of the changing DIO share price on the fair value adjustment and the Company's portion of DIO's net income for the six months ended June 30, 2012 was income of approximately $3.5 million.

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Net Income attributable to DENTSPLY International

In addition to the results reported in accordance with US GAAP, the Company provides adjusted net income attributable to DENTSPLY International and adjusted earnings per diluted common share.  These adjusted amounts consist of US GAAP amounts excluding (1) acquisition related costs and expensing of purchase price adjustments at an unconsolidated affiliated company, (2) restructuring and other costs, (3) Orthodontic business continuity costs, (4) certain fair value adjustment at an unconsolidated affiliated company, (5) income related to credit risk adjustments, and (6) income tax related adjustments.  Adjusted earnings per diluted common share is calculated by dividing adjusted net income attributable to DENTSPLY International by diluted weighted-average common shares outstanding. Adjusted net income attributable to DENTSPLY International and adjusted earnings per diluted common share are considered measures not calculated in accordance with US GAAP, and therefore are non-US GAAP measures.  These non-US GAAP measures may differ from other companies.

The Company believes that the presentation of adjusted net income attributable to DENTSPLY International and adjusted earnings per diluted common share provides important supplemental information to management and investors seeking to understand the Company's financial condition and results of operations.  The non-US GAAP financial information should not be considered in isolation from, or as a substitute for, measures of financial performance prepared in accordance with US GAAP.

	Six Months Ended June 30, 2012
(in thousands, except per share amounts)	Income (Expense)			Per Diluted Common Share
Net income attributable to DENTSPLY International	$	134,049		$	0.93
Amortization of purchased intangible assets, net of tax	19,989			0.14
Acquisition related activities, net of tax	7,789			0.05
Loss on fair value adjustments at an unconsolidated affiliated company, net of tax	3,595			0.03
Restructuring and other costs, net of tax	3,154			0.02
Orthodontics business continuity costs, net of tax	621			—
Income tax related adjustments	(5,414		)	(0.03		)
Adjusted non-US GAAP earnings	$	163,783		$	1.14

	Six Months Ended June 30, 2011
(in thousands, except per share amounts)	Income (Expense)			Per Diluted Common Share
Net income attributable to DENTSPLY International	$	143,320		$	1.00
Acquisition related activities, net of tax	6,241			0.05
Amortization of purchased intangible assets, net of tax	3,006			0.02
Restructuring and other costs, net of tax	874			0.01
Orthodontics business continuity costs, net of tax	442			—
Gain on fair value adjustments at an unconsolidated afflilated company	(260		)	—
Income tax related adjustments	(781		)	(0.01		)
Credit risk adjustment to outstanding derivatives, net of tax	(783		)	(0.01		)
Adjusted non-US GAAP earnings	$	152,059		$	1.06

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Operating Segment Results

Third Party Net Sales, Excluding Precious Metal Content

	Six Months Ended
	June 30,
(in millions)	2012		2011		$ Change			% Change
Dental Consumable and Laboratory Businesses	$	414.3	$	415.3	$	(1.0	)	(0.2	)%
Orthodontics/Canada/Mexico/Japan	$	142.9	$	157.9	$	(15.0	)	(9.5	)%
Select Distribution Businesses	$	148.8	$	152.5	$	(3.7	)	(2.4	)%
Implants/Endodontics/Healthcare/Pacific Rim	$	662.3	$	367.9	$	294.4		80.0	%

Segment Operating Income

	Six Months Ended
	June 30,
(in millions)	2012			2011		$ Change			% Change
Dental Consumable and Laboratory Businesses	$	124.8		$	117.5	$	7.3		6.2	%
Orthodontics/Canada/Mexico/Japan	$	4.3		$	13.6	$	(9.3	)	(68.4	)%
Select Distribution Businesses	$	(0.9	)	$	0.4	$	(1.3	)	NM
Implants/Endodontics/Healthcare/Pacific Rim	$	143.4		$	117.6	$	25.8		21.9	%

NM – Not meaningful

Dental Consumable and Laboratory Businesses

Net sales, excluding precious metal content, decreased $1.0 million during the six months ended June 30, 2012 compared to 2011. On a constant currency basis, net sales, excluding precious metal content, increased 3.0% which was primarily driven by increased demand in dental consumable products.

Operating income increased $7.3 million during the six months ended June 30, 2012 compared to 2011. This was due to a decrease in the selling, general and administrative expenses within the segment of $5.6 million, primarily due to favorable foreign currency translation, and an increase in gross profit of $1.6 million that includes $7.8 million of unfavorable foreign currency translation.

Orthodontics/Canada/Mexico/Japan

Net sales, excluding precious metal content, and operating income decreased $15.0 million and $9.3 million, respectively, during the six months ended June 30, 2012 compared to 2011. The decrease was primarily related to the impact of the natural disaster in Japan as previously discussed.

Select Distribution Businesses

Net sales, excluding precious metal content, decreased $3.7 million, or 2.4%, during the six months ended June 30, 2012 compared to 2011. On a constant currency basis, net sales, excluding precious metal content, increased 6.5% when compared to the same period in 2011 as a result of increased demand in dental specialty and dental consumable products.

44

Operating income decreased $1.3 million during the six months ended June 30, 2012 compared to 2011. The decline was attributable to a lower gross profit of $3.9 million, which was the result of unfavorable currency translation. Selling, general and administrative expenses decreased $2.6 million in the same period compared to 2011 due to favorable currency translation.

Implants/Endodontics/Healthcare/Pacific Rim

Net sales, excluding precious metal content, increased $294.4 million, or 80.0%, during the six months ended June 30, 2012 compared to 2011. On a constant currency basis, net sales, excluding precious metal content, increased 84.2% primarily driven by acquisitions, coupled with solid internal growth.

Operating income for the six months ended June 30, 2012 increased $25.8 million compared to 2011. Gross profit increased $204.3 million as a result of acquisitions and lower manufacturing costs partially offset by unfavorable foreign currency translation. Selling, general and administrative expenses increased by $178.6 million primarily due to acquisitions, partially offset by favorable currency translation.

CRITICAL ACCOUNTING POLICIES

Except as noted below, there have been no other significant material changes to the critical accounting policies as disclosed in the Company’s Form 10-K for the year ended December 31, 2011.

The Company has a note receivable from a borrower with a carrying value of $5.8 million, recorded as a component of other noncurrent assets, where the borrower has experienced recent financial deterioration.  A significant downturn or further deterioration in the creditworthiness of the borrower may negatively affect the Company's carrying value of the note receivable.

Annual Goodwill Impairment Testing

Goodwill is not amortized; instead, it is tested for impairment annually or more frequently if indicators of impairment exist or if a decision is made to sell a business. The valuation date for annual impairment testing is April 30. A significant amount of judgment is involved in determining if an indicator of impairment has occurred. Such indicators may include a decline in expected cash flows, a significant adverse change in legal factors or in the business climate, unanticipated competition or slower growth rates, among others. It is important to note that fair values that could be realized in an actual transaction may differ from those used to evaluate the impairment of goodwill.

Goodwill is allocated among and evaluated for impairment at the reporting unit level, which is defined as an operating segment or one level below an operating segment. The Company has thirteen reporting units.

The evaluation of impairment involves comparing the current fair value of each reporting unit to its net book value, including goodwill. The Company uses a discounted cash flow model ("DCF model") to estimate the current fair value of its reporting units when testing for impairment, as management believes forecasted operating cash flows are the best indicator of such fair value. A number of significant assumptions and estimates are involved in the application of the DCF model to forecast operating cash flows, including future sales growth, operating margin growth, benefits from restructuring initiatives, tax rates, capital spending, business initiatives, and working capital changes. These assumptions may vary significantly among the reporting units. Operating cash flow forecasts are based on approved business-unit operating plans for the early years and historical relationships and projections in later years. The weighted average cost of capital ("WACC") rate is estimated for geographic regions and applied to the reporting units located within the regions. The Company has not materially changed its methodology for goodwill impairment testing for the years presented. Due to the many variables inherent in the estimation of a reporting unit's fair value and the relative size of the Company's recorded goodwill, differences in assumptions may have a material effect on the results of the Company's impairment analysis.

The performance of the Company's 2012 annual impairment tests did not result in any impairment of the Company's goodwill. The WACC rates utilized in the 2012 analysis ranged from 8.5% to 10.5%. Excluding the Company's Healthcare reporting unit discussed below, if the fair value of each of the Company's other reporting units been hypothetically reduced by 5% at April 30, 2012 the fair value of those reporting units would still exceed their net book value. If the fair value of each of the Company's reporting units been hypothetically reduced by 10% at April 30, 2012, one reporting unit within the Implants/Endodontics/Healthcare/Pacific Rim segment would have a net book value exceeding its fair value by less than $1.0 million. Goodwill for this reporting unit totals $24.1 million. Had the WACC rate of each of the Company's reporting units been hypothetically increased by 50 basis points at April 30, 2012, the fair value of all reporting units except for the Company's Healthcare reporting unit would still exceed their net book value. The Company's Healthcare reporting unit, a component of the Implants/Endodontics/Healthcare/Pacific Rim operating segment, was created as a part of the Astra Tech acquisition on August 31, 2011. At the date of acquisition,

45

the fair value of the business equaled book value with preliminary good will for the reporting unit totaling $279.0 million. Given the limited time since the acquisition date, the reporting unit fair value approximates the book value of the reporting unit.

Should the Company's analysis in the future indicate an increase in discount rates or a degradation in the overall markets served by these reporting units, it could result in impairment of the carrying value of goodwill to its implied fair value. There can be no assurance that the Company's future goodwill impairment testing will not result in a charge to earnings.

LIQUIDITY AND CAPITAL RESOURCES

Six months ended June 30, 2012

Cash flow from operating activities during the six months ended June 30, 2012 was $103.4 million compared to $166.5 million during the six months ended June 30, 2011. Net income decreased by $8.6 million to $136.3 million in the six month period ended June 30, 2012. Depreciation and amortization expense for the six months was $33.7 million higher than the prior year period. Working capital investments in inventory, prepaid expenses, and  accounts receivable, offset by higher tax accruals, were $92.2 million greater in the current six month period than the same period in the prior year and includes the effect of recent acquisitions. On a constant currency basis, at June 30, 2012, reported days for inventory increased by 11 days to 111 days and accounts receivable increased by 1 days to 55 days, respectively, as compared to December 31, 2011. The increase in days of inventory reflects the addition of the Astra Tech inventory, the build of Orthodontic inventory to support the re-launch of the product line and additional inventory to support other key product lines.

Investing activities during the first six months of 2012 include capital expenditures of $42.9 million. The Company expects capital expenditures to be higher than 2011 as the Company supports expanded business needs of recent acquisitions and key growth initiatives.

At June 30, 2012, the Company had authorization to maintain up to 34.0 million shares of treasury stock under the stock repurchase program as approved by the Board of Directors. Under this program, the Company purchased 1.0 million shares for $38.8 million during the first six months of 2012 at an average price of $38.90. At June 30, 2012, the Company held 21.0 million shares of treasury stock. The Company also received proceeds of $20.1 million as a result of the exercise of 0.9 million of stock options during the six months ended June 30, 2012.

The Company's total borrowings decreased by a net of $42.1 million during the six months ended June 30, 2012. This change included net decrease of $35.5 million during the first six months from repayments and a decrease of $6.6 million due to exchange rate fluctuations on debt denominated in foreign currencies. At June 30, 2012, the Company's ratio of total debt to total capitalization was 46.4% compared to 48.4% at December 31, 2011. Also in that same period, the Company's cash and cash equivalents have decreased from $77.1 million to $53.2 million.

Under its five-year multi-currency revolving credit agreement, the Company is able to borrow up to $500.0 million through July 27, 2016. Under its 364-day revolving credit agreement, the Company is able to borrow up to $250.0 million through August 29, 2012. These facilities are unsecured and contain certain affirmative and negative covenants relating to the operations and financial condition of the Company. The most restrictive of these covenants pertain to asset dispositions and prescribed ratios of indebtedness to total capital and operating income plus depreciation and amortization to interest expense. At June 30, 2012, the Company was in compliance with these covenants. The Company also has available an aggregate $500.0 million under a U.S. dollar commercial paper facility. Both the 364-day and the five-year revolvers serve as a back-up to the commercial paper facility, thus the total available credit under the commercial paper facility and the multi-currency revolving credit facilities in the aggregate is $750.0 million. At June 30, 2012, outstanding borrowings were $228.9 million under the multi-currency revolving facility.

The Company also has access to $74.0 million in uncommitted short-term financing under lines of credit from various financial institutions. The lines of credit have no major restrictions and are provided under demand notes between the Company and the lending institutions. At June 30, 2012, the Company had $11.7 million outstanding under these short-term lines of credit. At June 30, 2012, the Company had total unused lines of credit related to the revolving credit agreement and the uncommitted short-term lines of credit of $583.3 million.

At June 30, 2012, the Company held $123.4 million of precious metals on consignment from several financial institutions. The consignment agreements allow the Company to acquire the precious metal at market rates at a point in time which is approximately the same time and for the same price as alloys are sold to the Company's customers. In the event that the financial institutions would discontinue offering these consignment arrangements, and if the Company could not obtain other comparable arrangements, the Company may be required to obtain third party financing to fund an ownership position in the required precious metal inventory levels.

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There have been no material changes to the Company's scheduled contractual cash obligations disclosed in its Form 10-K for the year ended December 31, 2011.

As of June 30, 2012, the majority of the Company's cash and cash equivalents were held outside of the United States. Most of these balances could be repatriated to the United States, however, under current law, would potentially be subject to U. S. federal income tax, less applicable foreign tax credits. Historically, the Company has generated more than sufficient operating cash flows in the United States to fund domestic operations. Further, the Company expects on an ongoing basis, to be able to finance domestic and international cash requirements, including capital expenditures, stock repurchases, debt service, operating leases and potential future acquisitions, from the funds generated from operations and amounts available under its existing credit facilities.

NEW ACCOUNTING PRONOUNCEMENTS

Refer to Note 1, Significant Accounting Policies, to the Unaudited Interim Consolidated Financial Statements for a discussion of recent accounting standards and pronouncements.

Item 3 - Quantitative and Qualitative Disclosures about Market Risk

There have been no significant material changes to the market risks as disclosed in the Company’s Form 10-K for the year ended December 31, 2011.

Item 4 - Controls and Procedures

Conclusion Regarding the Effectiveness of Disclosure Controls and Procedures

The Company’s management, with the participation of the Company’s Chief Executive Officer and Chief Financial Officer, evaluated the effectiveness of the Company’s disclosure controls and procedures as of the end of the period covered by this report.  Based on that evaluation, the Chief Executive Officer and Chief Financial Officer concluded that the Company’s disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities and Exchange Act of 1934, as amended) as of the end of the period covered by this report were effective to provide reasonable assurance that the information required to be disclosed by the Company in reports filed under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms, and that it is accumulated and communicated to management, including the Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure.

Changes in Internal Control Over Financial Reporting

There have been no changes in the Company’s internal controls over financial reporting that occurred during the most recent quarter to which this report relates that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

47

PART II – OTHER INFORMATION

Item 1 - Legal Proceedings

Reference to Part I, Item 1, Note 15, Commitments and Contingencies, to the Unaudited Interim Consolidated Financial Statements.

Item 1A – Risk Factors

There have been no significant material changes to the risk factors as disclosed in the Company’s Form 10-K for the year ended December 31, 2011.

Item 2 - Unregistered Sales of Securities and Use of Proceeds

At June 30, 2012, the Company had authorization to maintain up to 34.0 million shares of treasury stock under the stock repurchase program as approved by the Board of Directors.  During the quarter ended June 30, 2012, the Company had the following activity with respect to this repurchase program:

(in thousands, except per share amounts)
Period	Total Number of Shares Purchased	Average Price Paid Per Share		Total Cost of Shares Purchased		Number of Shares that May be Purchased Under the Share Repurchase Program
April 1, 2012	145.6	$	39.42	$	5,738.4	12,989.2
May 1, 2012	56.0	40.19		2,232.0		12,955.0
June 1, 2012	—	—		—		12,989.7
	201.6	$	39.63	$	7,970.4

Item 4 - Submission of Matters to Vote of Security Holders

Reserved.

48

Item 6 - Exhibits

Exhibit Number	Description
10.14	Summary of Outside Director Compensation
31	Section 302 Certification Statements
32	Section 906 Certification Statements
101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema Document
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB	XBRL Extension Labels Linkbase Document
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

DENTSPLY International Inc.

/s/	Bret W. Wise	July 31, 2012
	Bret W. Wise	Date
	Chairman of the Board and
	Chief Executive Officer

/s/	William R. Jellison	July 31, 2012
	William R. Jellison	Date
	Senior Vice President and
	Chief Financial Officer

49

EX-10.14

Exhibit 10.14

SUMMARY OF OUTSIDE DIRECTOR COMPENSATION

Effective May 23, 2012, compensation paid to non-employee directors of the Company is as follows:

Cash Compensation

• An annual cash retainer of $45,000, paid quarterly.

• A fee of $1,500 for each board and committee meeting attended in person.

• A fee of $1,000 for each board and committee meeting attended by telephone.

• An annual retainer of $15,000 for the Lead Director; $15,000 for the Audit Committee Chair, $15,000 for the HR Committee Chair; and $10,000 for the Governance Committee Chair.

Outside directors may elect to defer their cash compensation under the Dentsply International Inc. Directors' Deferred Compensation Plan (as amended).

Equity Compensation

• An annual grant of stock options to purchase a number of shares of common stock equal in value to $65,000, calculated using the Black-Sholes valuation method. The stock options vest in equal installments over a period of three years from the date of grant and have an exercise price equal to the closing price of the Company's common stock on the date of grant. Stock options are exercisable for ten years from the grant date, subject to earlier expiration in the event of termination or retirement.

• An annual grant of restricted stock units (RSUs), the number of which is determined by dividing $65,000 by the closing price of the Company's common stock on the date of grant. The RSUs vest three years from the date of grant and are payable to outside directors in shares of common stock upon vesting unless the director elects to defer settlement of the RSUs to a future date. Outside directors are entitled to receive dividend equivalents on the RSUs in the event the Company pays a regular cash dividend on its common stock.

EX-31

Exhibit 31.1

Section 302 Certifications Statement

I, Bret W. Wise, certify that:

1. I have reviewed this Form 10-Q of DENTSPLY International Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: July 31, 2012

/s/	Bret W. Wise
	Bret W. Wise
	Chairman of the Board and
	Chief Executive Officer

Exhibit 31.2

Section 302 Certifications Statement

I, William R. Jellison, certify that:

1. I have reviewed this Form 10-Q of DENTSPLY International Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: July 31, 2012

/s/	William R. Jellison
	William R. Jellison
	Senior Vice President and
	Chief Financial Officer

EX-32

Exhibit 32

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of DENTSPLY International Inc. (the “Company”) on Form 10-Q for the period ending June 30, 2012 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), We, Bret W. Wise, Chairman of the Board of Directors and Chief Executive Officer of the Company and William R. Jellison, Senior Vice President and Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of our knowledge and belief:

(1) The Report fully complies with the requirements of Sections 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company as of the date of the Report.

/s/	Bret W. Wise
	Bret W. Wise
	Chairman of the Board and
	Chief Executive Officer

/s/	William R. Jellison
	William R. Jellison
	Senior Vice President and
	Chief Financial Officer

July 31, 2012

XML

STOCK COMPENSATION Non-Qualified Stock Option Transactions (Details) (Nonqualified Stock Options Member, USD $) In Thousands, except Per Share data, unless otherwise specified	6 Months Ended
	Jun. 30, 2012	Dec. 31, 2011
Nonqualified Stock Options Member
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding, beginning balance (in shares)	10,148
Granted (in shares)	1,307
Exercised (in shares)	(862)
Cancelled (in shares)	(25)
Forfeitured (in shares)	(38)
Outstanding, ending balance (in shares)	10,530
Outstanding Weighted Average Exercise Price (in dollars per share)	$ 32.77	$ 31.23
Outstanding Weighted Average Exercise Price, Granted (in dollars per share)	$ 38.72
Outstanding Weighted Average Exercise Price, Exercised (in dollars per share)	$ 23.29
Outstanding Weighted Average Exercise Price, Cancelled (in dollars per share)	$ 41.15
Outstanding Weighted Average Exercise Price, Forfeited (in dollars per share)	$ 36.15
Outstanding Aggregate Intrinsic Value	$ 61,728	$ 51,402
Exercisable options (in shares)	7,720	8,049
Exercisable weighted average exercise price (in dollars per share)	$ 31.20	$ 30.06
Exercisable Aggregate Intrinsic Value	$ 58,418	$ 50,365

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SEGMENT INFORMATION Assets (Details) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012		Dec. 31, 2011
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 4,870,756		$ 4,755,398
Dental Consumable and Laboratrory Businesses [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	1,012,143		1,180,001
Orthodontics/Canada/Mexico/Japan [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	286,997		328,376
Select Distribution Businesses [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	207,377		168,500
Implants/Endodontics/Healthcare/Pacific Rim [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	3,102,736		2,881,591
All Other
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 261,503	[1]	$ 196,930	[1]

[1] (a) Includes the assets of Corporate headquarters, inter-segment eliminations and one distribution warehouse not managed by named segments.

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BUSINESS ACQUISITIONS Unaudited Financial Information had the Astra Tech Acquisition Occurred (Details) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended	6 Months Ended
	Jun. 30, 2011	Jun. 30, 2011
Business Acquisitions And Investments In Affiliates Abstract [Abstract]
Net sales	$ 763,659	$ 1,479,567,000
Net income attributable to DENTSPLY	$ 71,932	$ 141,510
Diluted earnings per common share	$ 0.50	$ 980.00

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FINANCIAL INSTRUMENTS AND DERIVATIVES Impact of the Company's Hedges Not Designated as Hedging (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended			6 Months Ended
	Jun. 30, 2012		Jun. 30, 2011	Jun. 30, 2012		Jun. 30, 2011
Derivative [Line Items]
Derivatives Not Designated as Hedging, Gains (Losses)	$ (33,156)		$ (261)	$ (12,075)		$ 1,386
Foreign Exchange Forward | Other Expense
Derivative [Line Items]
Derivatives Not Designated as Hedging, Gains (Losses)	(2,545)		(394)	306		1,309
DIO Corporation | Other Expense
Derivative [Line Items]
Derivatives Not Designated as Hedging, Gains (Losses)	95		26	(178)		26
Interest Rate Contract | Other Expense
Derivative [Line Items]
Derivatives Not Designated as Hedging, Gains (Losses)			0	(12,301)	[1]	0
Interest Rate Contract | Interest Expense
Derivative [Line Items]
Derivatives Not Designated as Hedging, Gains (Losses)	(45)		107	(87)		51
Interest Rate Contract | Interest Income
Derivative [Line Items]
Derivatives Not Designated as Hedging, Gains (Losses)			0	446		0
Cross Currency Interest Rate Contract [Member] | Other Expense
Derivative [Line Items]
Derivatives Not Designated as Hedging, Gains (Losses)	(30,427)	[1]
Cross Currency Interest Rate Contract [Member] | Interest Expense
Derivative [Line Items]
Derivatives Not Designated as Hedging, Gains (Losses)	(261)
Cross Currency Interest Rate Contract [Member] | Interest Income
Derivative [Line Items]
Derivatives Not Designated as Hedging, Gains (Losses)	$ 27

[1] (a) The gains and losses on these derivative transactions offset the gains and losses generated by the revaluation of the underlying intercompany loans which are recorded in “Other expense (income), net” on the consolidated statements of operations.

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INVENTORIES Additional Information (Detail) (USD $) In Millions, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Disclosure - Inventories, Net - Additional Information [Abstract]
LIFO inventory amount	$ 8.6	$ 7.1
Percentage of LIFO inventory	2.10%	2.10%
Inventory, LIFO reserve	5.7	5.6
Inventory valuation reserve	$ 34.9	$ 35.1

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GOODWILL AND INTANGIBLE ASSETS Identifiable Definite-Lived Intangible Assets (Detail) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 948,459	$ 646,735
Accumulated Amortization	(219,456)	(77,621)
Net Carrying Amount	729,003	569,114
Indefinite-Lived Intangible Assets (Excluding Goodwill)	218,744	221,986
Identifiable Intangible Assets Gross	1,167,203	868,721
Intangible Assets, Net (Excluding Goodwill)	947,747	791,100
Patents
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	129,570	131,252
Accumulated Amortization	(23,573)	(17,393)
Net Carrying Amount	105,997	113,859
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	85,228	73,413
Accumulated Amortization	(40,659)	(23,885)
Net Carrying Amount	44,569	49,528
Licensing Agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	30,412	30,444
Accumulated Amortization	(18,094)	(17,277)
Net Carrying Amount	12,318	13,167
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	703,249	411,626
Accumulated Amortization	(137,130)	(19,066)
Net Carrying Amount	566,119	392,560
In-process R&D
Finite-Lived Intangible Assets [Line Items]
Indefinite-Lived Intangible Assets (Excluding Goodwill)	8,751	11,311
Trademarks
Finite-Lived Intangible Assets [Line Items]
Indefinite-Lived Intangible Assets (Excluding Goodwill)	$ 209,993	$ 210,675

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BUSINESS ACQUISITIONS Aggregate Purchase Price Allocation for Acquisitions Based on Final Estimates of Fair Value (Detail) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012
Disclosure - Aggregate Purchase Price Allocation for Acquisitions Based on Final Estimates of Fair Value [Abstract]
Inventory	$ 84,659
Other Current assets	140,462
Property, plant and equipment	178,495
Identifiable intangible assets	986,300
Goodwill	824,357
Other long-term assets	13,438
Total assets	2,227,711
Current liabilities	106,983
Long-term liabilities	329,937
Total liabilities	436,920
Net assets	$ 1,790,791

XML

FINANCIAL INSTRUMENTS AND DERIVATIVES (Tables)

6 Months Ended

Jun. 30, 2012

Fair Value and Consolidated Balance Sheet Location of the Company's Derivatives

The following tables summarize the fair value and consolidated balance sheet location of the Company's derivatives at June 30, 2012 and December 31, 2011:

	June 30, 2012
(in thousands)	Prepaid Expenses and Other Current Assets		Other Noncurrent Assets, Net		Accrued Liabilities		Other Noncurrent Liabilities
Designated as Hedges
Foreign exchange forward contracts	$	6,143	$	754	$	883	$	123
Commodity contracts	—		—		109		—
Interest rate swaps	2,505		3,156		—		1,768
Cross currency basis swaps	—		31,494		82,949		23,085
Total	$	8,648	$	35,404	$	83,941	$	24,976
Not Designated as Hedges
Foreign exchange forward contracts	$	3,672	$	—	$	1,766	$	—
DIO equity option contracts	—		—		—		580
Interest rate swaps	—		—		108		442
Cross currency basis swaps	—		—		—		79,689
Total	$	3,672	$	—	$	1,874	$	80,711

	December 31, 2011
(in thousands)	Prepaid Expenses and Other Current Assets		Other Noncurrent Assets, Net		Accrued Liabilities		Other Noncurrent Liabilities
Designated as Hedges
Foreign exchange forward contracts	$	5,464	$	896	$	641	$	107
Commodity contracts	—		15		257		2
Interest rate swaps	2,539		3,160		—		1,050
Cross currency basis swaps	—		19,838		13,790		117,974
Total	$	8,003	$	23,909	$	14,688	$	119,133
Not Designated as Hedges
Foreign exchange forward contracts	$	1,943	$	—	$	3,150	$	—
Commodity contracts	—		—		—		419
Interest rate swaps	—		—		105		476
Cross currency basis swaps	—		—		—		67,690
Total	$	1,943	$	—	$	3,255	$	68,585

Cash Flow Hedging

Summary of Notional Amounts and Fair Value of the Company's Hedges

The following tables summarize the notional amounts and fair value of the Company's cash flow hedges and non-designated derivatives at June 30, 2012:

Foreign Exchange Forward Contracts	Notional Amounts Maturing in the Year									Fair Value Net Asset (Liability)
(in thousands)	2012			2013			2014			June 30, 2012
Forward sale, 12.3 million Australian dollars	$	8,061		$	3,884		$	139		$	(698	)
Forward purchase, 7.4 million British pounds	(11,326		)	(193		)	—			167
Forward sale, 43.6 million Canadian dollars	21,955			20,015			1,212			862
Forward purchase, 22.2 million Danish kroner	(3,773		)	—			—			(24		)
Forward sale, 143.4 million euros	63,919			112,840			5,835			4,080
Forward purchase, 0.4 billion Japanese yen	4,471			(8,569		)	(506		)	(343		)
Forward sale, 165.2 million Mexican pesos	12,384			—			—			(502		)
Forward purchase, 17.2 million Norwegian kroner	(2,893		)	—			—			14
Forward sale, 4.2 million Polish zlotys	1,259			—			—			(49		)
Forward sale, 2.6 million Singapore dollars	2,065			—			—			20
Forward sale, 5.7 billion South Korean won	4,994			—			—			(35		)
Forward purchase, 1.0 billion Swedish kronor	(69,982		)	(67,198		)	(3,270		)	3,080
Forward purchase, 14.0 million Swiss francs	(33,566		)	19,233			860			1,229
Forward sale, 32.5 million Taiwanese dollars	1,092			—			—			(4		)
Total foreign exchange forward contracts	$	(1,340	)	$	80,012		$	4,270		$	7,797

Interest Rate Swaps	Notional Amounts Maturing in the Year										Fair Value Net Asset (Liability)
(in thousands)	2012		2013		2014		2015		2016 and Beyond		June 30, 2012
Euro	$	598	$	1,195	$	914	$	914	$	2,057	$	(550	)
Japanese yen	—		—		157,053		—		—		376
Swiss francs	—		—		—		—		68,482		(1,315		)
Total interest rate swaps	$	598	$	1,195	$	157,967	$	914	$	70,539	$	(1,489	)

Commodity Swap Contracts	Notional Amounts Maturing in the Year				Fair Value Net  Asset (Liability)
(in thousands)	2012		2013		June 30, 2012
Silver swap - U.S. dollar	$	1,526	$	563	$	(84	)
Platinum swap - U.S. dollar	777		321		(25		)
Total commodity swap contracts	$	2,303	$	884	$	(109	)

Cross Currency Basis Swap	Notional Amounts Maturing in the Year		Fair Value Net Asset (Liability)
(in thousands)	2014		June 30, 2012
Euro 449.8 million @ $1.45  pay USD 3 mth. LIBOR receive EUR 3 mth. EURIBOR	$	569,267	$	(79,689	)
Total cross currency basis swap	$	569,267	$	(79,689	)

Fair Value and Consolidated Balance Sheet Location of the Company's Derivatives

The following tables summarize the statements of operations impact of the Company's cash flow hedges for the three and six months ended June 30, 2012 and 2011:

Three Months Ended June 30, 2012
Derivatives in Cash Flow Hedging
(in thousands)	Gain (Loss) in AOCI			Classification of Gains (Losses)	Effective Portion Reclassified from AOCI into Income
Interest rate contracts	$	(727	)	Interest expense	$	(897	)
Foreign exchange forward contracts	4,785			Cost of products sold	1,842
Foreign exchange forward contracts	391			SG&A expenses	226
Commodity contracts	(581		)	Cost of products sold	96
Total	$	3,868			$	1,267

Derivatives in Cash Flow Hedging
	Classification of Gains (Losses)	Ineffective portion Recognized in Income
(in thousands)
Foreign exchange forward contracts	Other expense, net	$	278
Commodity contracts	Interest expense	11
Total		$	289

Three Months Ended June 30, 2011
Derivatives in Cash Flow Hedging
(in thousands)	Gain (Loss) in AOCI			Classification of Gains (Losses)	Effective Portion Reclassified from AOCI into Income
Interest rate swaps	$	9,879		Interest expense	$	(1,318	)
Foreign exchange forward contracts	238			Cost of products sold	386
Foreign exchange forward contracts	(195		)	SG&A expenses	(95		)
Commodity contracts	29			Cost of products sold	91
Total	$	9,951			$	(936	)

Derivatives in Cash Flow Hedging
(in thousands)	Classification of Gains (Losses)	Ineffective Portion Recognized in Income
Interest rate swaps	Other expense, net	$	65
Foreign exchange forward contracts	Interest expense	(188		)
Commodity contracts	Interest expense	1
Total		$	(122	)

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance

The following tables summarize the statements of operations impact of the Company's hedges of net investments for the three and six months ended June 30, 2012 and 2011:

Three Months Ended June 30, 2012
Derivatives in Net Investment Hedging
(in thousands)	Gain (Loss) in AOCI		Classification of Gains (Losses)	Gain (Loss) Recognized in Income
Cross currency interest rate swaps	$	73,784	Interest income	$	861
			Interest expense	(412		)
Total	$	73,784		$	449

Three Months Ended June 30, 2011
Derivatives in Net Investment Hedging
(in thousands)	Gain (Loss) in AOCI			Classification of Gains (Losses)	Gain (Loss) Recognized in Income
Cross currency interest rate swaps	$	(70,023	)	Interest income	$	170
				Interest expense	(1,310		)
Total	$	(70,023	)		$	(1,140	)

Net Investment Hedging [Member]

Summary of Notional Amounts and Fair Value of the Company's Hedges

The following tables summarize the notional amounts and fair value of the Company's cross currency basis swaps that are designated as hedges of net investments in foreign operations at June 30, 2012:

Cross Currency Basis Swaps	Notional Amounts Maturing in the Year							Fair Value Net Asset (Liability)
(in thousands)		2013		2014		2015		June 30, 2012
Swiss franc 592.5 million @ 1.09 pay CHF 3 mth. LIBOR rec. USD 3 mth. LIBOR		$	479,903	$	84,707	$	59,632	$	(79,240	)
Euro 618.0 million @ $1.27 pay EUR 3 mth. EURIBOR rec. USD 3 mth. LIBOR		782,203		—		—		4,700
Total cross currency basis swaps		$	1,262,106	$	84,707	$	59,632	$	(74,540	)

Fair Value Hedging

Summary of Notional Amounts and Fair Value of the Company's Hedges

The following tables summarize the statements of operations impact of the Company's hedges of fair value for the three and six months ended June 30, 2012 and 2011:

Derivatives in Fair Value Hedging
	Classification	Three Months Ended June 30,
(in thousands)	of Gains (Losses)	2012		2011
Interest rate contracts	Interest expense	$	646	$	615
Total		$	646	$	615

The following tables summarize the notional amounts and fair value of the Company's fair value hedges at June 30, 2012:

Interest Rate Swap	Notional Amounts Maturing in the Year						Fair Value Net Asset (Liability)
(in thousands)	2014		2015		2016 and Beyond		June 30, 2012
U.S. dollars	$	45,000	$	60,000	$	45,000	$	4,832
Total interest rate swap	$	45,000	$	60,000	$	45,000	$	4,832

Not Designated as Hedging Instrument [Member]

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance

The following table summarizes the statements of operations impact of the Company's hedges not designated as hedging for the three and six months ended June 30, 2012 and 2011:

Derivatives Not Designated as Hedging
	Classification	Three Months Ended June 30,
(in thousands)	of Gains (Losses)	2012			2011
Foreign exchange forward contracts	Other expense, net	$	(2,545	)	$	(394	)
DIO equity option contracts	Other expense, net	95			26
Interest rate contracts	Interest expense	(45		)	107
Cross currency interest rate contracts (a)	Other expense, net	(30,427		)	—
Cross currency interest rate contracts	Interest expense	(261		)	—
Cross currency interest rate contracts	Interest income	27			—
Total		$	(33,156	)	$	(261	)

Derivatives Not Designated as Hedging
	Classification	Six Months Ended June 30,
(in thousands)	of Gains (Losses)	2012			2011
Foreign exchange forward contracts	Other expense, net	$	306		$	1,309
DIO equity option contracts	Other expense, net	(178		)	26
Interest rate contracts	Interest expense	(87		)	51
Cross currency interest rate contracts (a)	Other expense, net	(12,301		)	—
Cross currency interest rate contracts	Interest expense	(261		)	—
Cross currency interest rate contracts	Interest income	446			—
Total		$	(12,075	)	$	1,386

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Commitments and Contingencies - Additional Information (Detail)	1 Months Ended
	Jun. 30, 2004 San Francisco County, California	Dec. 31, 2006 Eastern District of Pennsylvania
Commitments and Contingencies Disclosure [Line Items]
Lawsuit filing date	June 18, 2004	December 12, 2006
Name of plaintiff(s)	Marvin Weinstat, DDS and Richard Nathan, DDS	Carole Hildebrand, DDS and Robert Jaffin, DDS and Dr. Mitchell Goldman
Class action law suit filed	On June 18, 2004, Marvin Weinstat, DDS and Richard Nathan, DDS filed a class action suit in San Francisco County, California alleging that the Company misrepresented that its Cavitron® ultrasonic scalers are suitable for use in oral surgical procedures.	On December 12, 2006, a Complaint was filed by Carole Hildebrand, DDS and Robert Jaffin, DDS in the Eastern District of Pennsylvania (the Plaintiffs subsequently added Dr. Mitchell Goldman as a named class representative).  The case was filed by the same law firm that filed the Weinstat case in California.  The Complaint asserts putative class action claims on behalf of dentists located in New Jersey and Pennsylvania.

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FAIR VALUE MEASUREMENT Reconciliation Assets Measured at Fair Value on a Recurring Basis Using Unobservable Inputs (Detail) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Cash Paid For Contingent Consideration	$ 1,781	$ 1,780
Corporate Bond Securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	47,850
Unrealized Loss Reported in AOCI	22,023
Effect of exchange rate changes	(1,477)
Ending Balance	68,396
Dio Equity Option Contracts
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	(424)
Unrealized Gain Reported in other expense (income), net	(178)
Effect of exchange rate changes	14
Ending Balance	(588)
Contingent Considerations On Acquisitions
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	2,917
Cash Paid For Contingent Consideration	(1,781)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases, Sales, Issuances, Settlements	(326)
Effect of exchange rate changes	13
Ending Balance	$ 823

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BENEFIT PLANS Components of Net Periodic Benefit Cost (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Pension Plans, Defined Benefit
Service cost	$ 3,032	$ 2,578	$ 6,010	$ 5,012
Interest cost	2,627	2,305	5,318	4,492
Expected return on plan assets	(1,189)	(1,290)	(2,414)	(2,506)
Amortization of prior service cost	(33)	21	(70)	41
Amortization of net loss	494	405	992	788
Net periodic benefit cost	4,931	4,019	9,836	7,827
Other Postretirement Benefit Plans, Defined Benefit
Service cost	18	16	37	32
Interest cost	118	139	235	277
Amortization of net loss	57	49	115	98
Net periodic benefit cost	$ 193	$ 204	$ 387	$ 407

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FINANCING ARRANGEMENTS Long-Term Borrowings (Detail) (USD $) In Millions, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Disclosure - Long-Term Borrowings [Abstract]
Total debt, fair value	$ 1,512.8	$ 1,512.5
Total debt, carrying value	$ 1,482.6	$ 1,491.4

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GOODWILL AND INTANGIBLE ASSETS Reconciliation of Changes in Goodwill (Detail) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2012
Goodwill [Roll Forward]
Balance, beginning of the year	$ 2,190,063
Revision of provisional amounts on prior acquistion	(144,530)
Effects of exchange rate changes	(9,449)
Balance, end of the year	2,036,084
Dental Consumable and Laboratrory Businesses [Member]
Goodwill [Roll Forward]
Balance, beginning of the year	484,779
Effects of exchange rate changes	(2,054)
Balance, end of the year	482,725
Orthodontics/Canada/Mexico/Japan [Member]
Goodwill [Roll Forward]
Balance, beginning of the year	102,950
Effects of exchange rate changes	(641)
Balance, end of the year	102,309
Select Distribution Businesses [Member]
Goodwill [Roll Forward]
Balance, beginning of the year	108,566
Goodwill, Other Changes	2,132
Effects of exchange rate changes	(6,602)
Balance, end of the year	104,096
Implants/Endodontics/Healthcare/Pacific Rim [Member]
Goodwill [Roll Forward]
Balance, beginning of the year	1,493,768
Revision of provisional amounts on prior acquistion	(144,530)
Goodwill, Other Changes	(2,132)
Effects of exchange rate changes	(152)
Balance, end of the year	$ 1,346,954

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FINANCIAL INSTRUMENTS AND DERIVATIVES Amounts recorded in AOCI related to cash flow hedging instruments (Detail) (USD $) In Thousands, unless otherwise specified			3 Months Ended		6 Months Ended		3 Months Ended		6 Months Ended
	Jun. 30, 2012	Dec. 31, 2011	Jun. 30, 2012 Net Investment Hedging [Member]	Jun. 30, 2011 Net Investment Hedging [Member]	Jun. 30, 2012 Net Investment Hedging [Member]	Jun. 30, 2011 Net Investment Hedging [Member]	Jun. 30, 2012 Cash Flow Hedging	Jun. 30, 2011 Cash Flow Hedging	Jun. 30, 2012 Cash Flow Hedging	Jun. 30, 2011 Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Beginning balance	$ (102,433)	$ (117,390)	$ (42,524)	$ 106,664	$ (143,730)	$ 45,417	$ (13,944)	$ (2,275)	$ (12,737)	$ (1,468)
Foreign currency translation adjustment			(175,281)	66,059	(48,473)	152,497
Changes in fair value of derivatives							3,054	6,137	2,277	5,101
Changes in fair value of foreign currency debt			(1,262)	(6,687)	4,062	(5,673)
Reclassifications to earnings from equity							(1,267)	467	(1,697)	696
Changes in fair value of derivative hedge instruments			45,303	(42,995)	14,377	(69,200)
Total activity			(131,240)	16,377	(30,034)	77,624	1,787	6,604	580	5,797
Ending balance	$ (102,433)	$ (117,390)	$ (173,764)	$ 123,041	$ (173,764)	$ 123,041	$ (12,157)	$ 4,329	$ (12,157)	$ 4,329

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STOCK COMPENSATION Stock Compensation (Tables)

6 Months Ended

Jun. 30, 2012

STOCK COMPENSATION [Abstract]

Schedule of Stock Based Compensation

The following table represents total stock based compensation expense for non-qualified stock options, restricted stock units (“RSU”) and the tax related benefit for the three and six months ended June 30, 2012 and 2011:

	Three Months Ended				Six Months Ended
(in thousands)	2012		2011		2012		2011
Stock option expense	$	3,298	$	3,035	$	5,679	$	5,373
RSU expense	3,094		2,296		4,640		4,347
Total stock based compensation expense	$	6,392	$	5,331	$	10,319	$	9,720
Total related tax benefit	$	1,916	$	1,620	$	2,935	$	2,872

Schedule of Share-based Compensation, Stock Options, Activity

he following table reflects the non-qualified stock option transactions from December 31, 2011 through June 30, 2012:

	Outstanding						Exercisable
(in thousands, except per share data)	Shares		Weighted Average Exercise Price		Aggregate Intrinsic Value		Shares	Weighted Average Exercise Price		Aggregate Intrinsic Value
December 31, 2011	10,148		$	31.23	$	51,402	8,049	$	30.06	$	50,365
Granted	1,307		38.72
Exercised	(862	)	23.29
Cancelled	(25	)	41.15
Forfeited	(38	)	36.15
June 30, 2012	10,530		$	32.77	$	61,728	7,720	$	31.20	$	58,418

Schedule of Nonvested Share Activity

The following table summarizes the unvested RSU transactions from December 31, 2011 through June 30, 2012:

(in thousands, except per share data)	Shares		Weighted Average Grant Date Fair Value
December 31, 2011	897		$	32.50
Granted	413		38.71
Vested	(244	)	26.28
Forfeited	(25	)	35.67
June 30, 2012	1,041		$	36.34

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SEGMENT INFORMATION Net Sales (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended				6 Months Ended
	Jun. 30, 2012		Jun. 30, 2011		Jun. 30, 2012		Jun. 30, 2011
Net sales	$ 762,994		$ 609,443		$ 1,479,407		$ 1,179,946
Dental Consumable and Laboratrory Businesses [Member]
Net sales	258,786		246,062		505,717		477,182
Orthodontics/Canada/Mexico/Japan [Member]
Net sales	86,317		85,728		159,219		174,174
Select Distribution Businesses [Member]
Net sales	78,433		82,892		151,684		157,058
Implants/Endodontics/Healthcare/Pacific Rim [Member]
Net sales	342,312		196,399		666,956		374,213
All Other
Net sales	$ (2,854)	[1]	$ (1,638)	[1]	$ (4,169)	[1]	$ (2,681)

[1] (a) Includes amounts recorded at Corporate headquarters

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COMPREHENSIVE INCOME Balances included in AOCI, Net of Tax, in the Consolidated Balance Sheets (Details) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Accumulated Other Comprehensive Income (Loss) [Line Items]
Foreign currency translation adjustments	$ (83,489)	$ (39,078)
Net loss on derivative financial instruments	(102,433)	(117,390)
Net unrealized holding gains (losses) on available for-sale securities	14,530	(516)
Pension liability adjustments	(32,320)	(33,986)
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ (203,712)	$ (190,970)

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INCOME TAXES Additional Information (Detail) (USD $) In Millions, unless otherwise specified	6 Months Ended
	Jun. 30, 2012
Income Taxes [Line Items]
Unrecognized tax benefits, final settlement and resolution of outstanding tax	$ 1.3
Future Period Member
Income Taxes [Line Items]
Unrecognized tax benefits, expiration of statues of limitation	$ 0.3

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STOCK COMPENSATION Stock Compensation (Details) (USD $) In Millions, unless otherwise specified	6 Months Ended
	Jun. 30, 2012 Y
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average remaining contractual term (in years)	6.0
Exercisable options, weighted average remaining contractual term (in years)	5.0
Nonqualified Stock Options Member
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unamortized compensation cost	19.1
Weighted average remaining contractual term (in years)	1.8
Performance Based Restricted Stock and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unamortized compensation cost	20.4
Weighted average remaining contractual term (in years)	1.7

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SEGMENT INFORMATION Intersegment Net Sales (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended				6 Months Ended
	Jun. 30, 2012		Jun. 30, 2011		Jun. 30, 2012		Jun. 30, 2011
Segment Reporting, Revenue Reconciling Item [Line Items]
Eliminations	$ (161,252)		$ (159,532)		$ (312,469)		$ (309,053)
Total	0		0		0		0
Dental Consumable and Laboratrory Businesses [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Intersegment net sales	58,486		55,636		112,887		111,006
Orthodontics/Canada/Mexico/Japan [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Intersegment net sales	1,054		953		2,233		1,937
Select Distribution Businesses [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Intersegment net sales	2,974		3,729		6,292		7,477
Implants/Endodontics/Healthcare/Pacific Rim [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Intersegment net sales	42,409		43,756		80,748		81,798
All Other
Segment Reporting, Revenue Reconciling Item [Line Items]
Intersegment net sales	$ 56,329	[1]	$ 55,458	[1]	$ 110,309	[1]	$ 106,835	[1]

[1] (a) Includes amounts recorded at Corporate headquarters and one distribution warehouse not managed by named segments.

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FINANCIAL INSTRUMENTS AND DERIVATIVES Impact of the Company's Cash Flow Hedges (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Gain (Loss) in AOCI	$ 73,784	$ (70,023)	$ 23,415	$ (112,703)
Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Effective Portion Reclassified from AOCI into Income	1,267	(936)	1,697	(1,508)
Gain (Loss) in AOCI	3,868	9,951	2,511	8,498
Ineffective portion Recognized in Income	289	(122)	472	(239)
Cash Flow Hedging | Interest Rate Contract | Interest Rate Contract
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Effective Portion Reclassified from AOCI into Income	(897)	(1,318)	(1,802)	(2,569)
Gain (Loss) in AOCI	(727)	9,879	(1,399)	9,598
Cash Flow Hedging | Interest Rate Contract | Other Expense
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Ineffective portion Recognized in Income		65		167
Cash Flow Hedging | Foreign Exchange Forward | Interest Expense
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Ineffective portion Recognized in Income		(188)	478	(216)
Cash Flow Hedging | Foreign Exchange Forward | Cost of Sales
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Effective Portion Reclassified from AOCI into Income	1,842	386	2,992	854
Gain (Loss) in AOCI	4,785	238	3,351	(694)
Cash Flow Hedging | Foreign Exchange Forward | Selling, General And Administrative Expense
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Effective Portion Reclassified from AOCI into Income	226	(95)	457	11
Gain (Loss) in AOCI	391	(195)	302	(462)
Cash Flow Hedging | Foreign Exchange Forward | Other Expense
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Ineffective portion Recognized in Income	278			(188)
Cash Flow Hedging | Commodity Forward Purchase Contracts | Interest Expense
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Ineffective portion Recognized in Income	11	1	(6)	(2)
Cash Flow Hedging | Commodity Forward Purchase Contracts | Cost of Sales
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Effective Portion Reclassified from AOCI into Income	96	91	50	196
Gain (Loss) in AOCI	$ (581)	$ 29	$ 257	$ 56

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RESTRUCTURING AND OTHER COSTS Provisions and Adjustments and Amounts Applied for All Plans by Segment (Detail) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2012
Restructuring Reserve [Roll Forward]
Beginning Balance	$ 5,706
Provisions and adjustments	3,459
Amounts applied	(2,367)
Ending Balance	6,798
Dental Consumable and Laboratrory Businesses [Member]
Restructuring Reserve [Roll Forward]
Beginning Balance	3,601
Provisions and adjustments	628
Amounts applied	(1,006)
Ending Balance	3,223
Orthodontics/Canada/Mexico/Japan [Member]
Restructuring Reserve [Roll Forward]
Beginning Balance	240
Provisions and adjustments	826
Amounts applied	(282)
Ending Balance	784
Implants/Endodontics/Healthcare/Pacific Rim [Member]
Restructuring Reserve [Roll Forward]
Beginning Balance	1,865
Provisions and adjustments	2,005
Amounts applied	(1,079)
Ending Balance	$ 2,791

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BUSINESS ACQUISITIONS Intangible Asset Acquired (Details) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2012 Year
Acquired Finite and Infinite Lived Intangible Assets [Line Items]
Acquired finite and infinite-lived intangible assets	$ 986,300
Tradenames and Trademarks [Member]
Acquired Finite and Infinite Lived Intangible Assets [Line Items]
Infinite-lived intangible asset acquired	229,100
In-process research and development
Acquired Finite and Infinite Lived Intangible Assets [Line Items]
Infinite-lived intangible asset acquired	3,800
Customer Relationships
Acquired Finite and Infinite Lived Intangible Assets [Line Items]
Finite-lived intangible asset acquired	636,900
Patents and developed technology
Acquired Finite and Infinite Lived Intangible Assets [Line Items]
Finite-lived intangible asset acquired	$ 116,500
Useful Life (in years)	10
Minimum [Member] | Customer Relationships
Acquired Finite and Infinite Lived Intangible Assets [Line Items]
Useful Life (in years)	17.5
Maximum [Member] | Customer Relationships
Acquired Finite and Infinite Lived Intangible Assets [Line Items]
Useful Life (in years)	20

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SIGNIFICANT ACCOUNTING POLICIES

6 Months Ended

Jun. 30, 2012

Notes to Financial Statements [Abstract]

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES

The accounting policies of the Company, as applied in the interim consolidated financial statements presented herein are substantially the same as presented in the Company’s Form 10-K for the year ended December 31, 2011, except as may be indicated below:

Accounts and Notes Receivable

The Company sells dental and certain healthcare products through a worldwide network of distributors and directly to end users.  For customers on credit terms, the Company performs ongoing credit evaluations of those customers' financial condition and generally does not require collateral from them.  The Company establishes allowances for doubtful accounts for estimated losses resulting from the inability of its customers to make required payments based on historical averages of aged receivable balances and the Company’s experience in collecting those balances, customer specific circumstances, as well as changes in the economic and political environments.  The Company records a provision for doubtful accounts, which is included in “Selling, general and administrative expenses.”

Accounts and notes receivables – trade, net are stated net of allowances for doubtful accounts and trade discounts, which was $13.7 million at June 30, 2012 and $15.8 million at December 31, 2011.

Marketable Securities

The Company’s marketable securities consist of corporate convertible bonds that are classified as available-for-sale in “Other noncurrent assets, net” on the consolidated balance sheets as the instruments mature in December 2015. The Company determined the appropriate classification at the time of purchase and will re-evaluate such designation as of each balance sheet date. In addition, the Company reviews the securities each quarter for indications of possible impairment. Once identified, the determination of whether the impairment is temporary or other-than-temporary requires significant judgment. The primary factors that the Company considers in classifying the impairment include the extent and time the fair value of each investment has been below cost and the existence of a credit loss. If a decline in fair value is judged other-than-temporary, the basis of the securities is written down to fair value and the amount of the write-down is included as a realized loss. Changes in fair value are reported in accumulated other comprehensive income (“AOCI”).

 The convertible feature of the bonds has not been bifurcated from the underlying bonds as the feature does not contain a net-settlement feature, nor would the Company be able to achieve a hypothetical net-settlement that would substantially place the Company in a comparable cash settlement position.  As such, the derivative is not accounted for separately from the bond.  The cash paid by the Company was equal to the face value of the bonds issued, and therefore, the Company has not recorded any bond premium or discount on acquiring the bonds.  The fair value of the bonds was $68.4 million and $47.8 million at June 30, 2012 and December 31, 2011, respectively.  At June 30, 2012 and December 31, 2011, an unrealized holding gain of $22.0 million and $11.5 million, respectively, on available-for-sale securities, net of tax, had been recorded in AOCI. 

New Accounting Pronouncements

In June 2011, the Financial Accounting Standards Board (“FASB”) amended its rules regarding the presentation of comprehensive income.  The objective of this amendment is to improve the comparability, consistency and transparency of financial reporting and to increase the prominence of items reported in other comprehensive income.  Specifically, this amendment requires that all non-owner changes in shareholders' equity be presented either in a single continuous statement of comprehensive income or in two separate but consecutive statements.  The new rules will become effective during interim and annual periods beginning after December 15, 2011, with the exception of the requirement to present reclassification adjustments from other comprehensive income to net income on the face of the financial statements, which has been deferred pending further deliberation by the FASB.  Because the standard only impacts the presentation of comprehensive income and does not impact what is included in comprehensive income, the standard will not have a significant impact on the Company's consolidated financial statements. The Company adopted this accounting standard during the quarter ended March 31, 2012.

In September 2011, the FASB issued Accounting Standards Update No. 2011-08, “Intangibles – Goodwill and Other (Topic 350): Testing Goodwill for Impairment”("ASU"). This newly issued accounting standard is intended to reduce the cost and complexity of the annual goodwill impairment test by providing entities an option to perform a "qualitative" assessment to determine whether further impairment testing is necessary. Under the revised standard, an entity has the option to first assess qualitative factors to determine whether it is necessary to perform the current two-step impairment test. If an entity believes, as a result of its qualitative assessment, that it is more-likely-than-not that the fair value of a reporting unit is less than its carrying amount, the quantitative impairment test is required; otherwise, no further testing is required. Prior to the issuance of the revised standard, an entity was required to perform step one of the impairment test at least annually by calculating and comparing the fair value of a reporting unit to its carrying amount. Under the revised standard, if an entity determines that step one is necessary and the fair value of the reporting unit is less than its carrying amount, then step two of the test will continue to be required to measure the amount of the impairment loss, if any. These amendments do not change the current guidance for testing other indefinite-lived intangible assets for impairment. This ASU is effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011. The Company adopted this standard for the quarter ended June 30, 2012 and it did not impact the Company’s financial position or results from operations.

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FINANCIAL INSTRUMENTS AND DERIVATIVES Additional Information (Detail)	6 Months Ended												6 Months Ended					6 Months Ended
	Jun. 30, 2012 USD ($) group	Dec. 31, 2011 USD ($)	Jun. 30, 2012 Fair Value Hedging USD ($)	Apr. 04, 2011 Fair Value Hedging USD ($)	Jun. 30, 2012 International Subsidiaries USD ($)	Dec. 31, 2011 International Subsidiaries USD ($)	Jun. 30, 2012 Interest Rate Swap Currency, Japanese Yen	Jun. 30, 2012 Interest Rate Swap Currency, Swiss Franc	Jun. 30, 2012 Interest Rate Swap Cash Flow Hedging CHF	Jun. 30, 2012 Interest Rate Swap Cash Flow Hedging JPY (¥)	Jun. 30, 2012 Interest Rate Swap Cash Flow Hedging Currency, Japanese Yen	Jun. 30, 2012 Interest Rate Swap Cash Flow Hedging Currency, Swiss Franc	Jun. 30, 2012 Commodity Forward Purchase Contracts Cash Flow Hedging Platinum Bullion	Jun. 30, 2012 Commodity Forward Purchase Contracts Cash Flow Hedging Silver Bullion	Jun. 30, 2012 Cross Currency Interest Rate Swaps USD ($)	Jun. 30, 2012 Cross Currency Interest Rate Swaps CHF	Dec. 31, 2011 Cross Currency Interest Rate Swaps USD ($)	Jun. 30, 2012 Private Placement Notes Fair Value Hedging	Feb. 28, 2010 Private Placement Notes Fair Value Hedging USD ($)	Jun. 30, 2012 Unsecured Senior Notes Tranche C USD ($)
Derivative [Line Items]
Maximum Length of Time Hedged in Interest Rate Cash Flow Hedge	18 months
Interest Rate Derivatives, at Fair Value, Net			$ 4,800,000
Maximum term over which the Company is hedging exposures to variablilty of cash flows related to all forecasted transactions	3,700,000
Notional amounts				150,000,000					65,000,000	12,600,000,000					60,500,000	56,600,000
Average fixed interest rate											0.20%	0.70%
Description of derivative activity													swaps in place to purchase 766 troy ounces	swaps in place to purchase 76,870 troy ounces
Average fixed rate price													1,467	28
Fixed interest rate				4.10%
Debt Instrument, Face Amount																			250,000,000	450,000,000
Number of groups of significant interest rate swaps (in groups)	2
Average fixed interest rate, term (in years)							3 years	5 years
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax	(102,433,000)	(117,390,000)													74,500,000		111,900,000
Accumulated translation gains on investments	$ 83,489,000	$ 39,078,000			$ 173,800,000	$ 143,700,000
Debt, maturity term (in years)																		5 years

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EARNINGS PER COMMON SHARE Additional Information (Detail) In Millions, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Disclosure - Earnings per Common Share - Additional Information [Abstract]
Antidilutive common stock options not included in the computation of diluted earnings per common share (in shares)	3.8		4.1
Antidilutive shares of common stock outstanding (in shares)		3.0		3.4

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SEGMENT AND GEOGRAPHIC INFORMATION (Tables)

6 Months Ended

Jun. 30, 2012

Notes to Financial Statements [Abstract]

Net Sales

The following tables set forth information about the Company’s operating groups for the three and six months ended June 30, 2012 and 2011:

Third Party Net Sales

	Three Months Ended						Six Months Ended
(in thousands)	2012			2011			2012			2011
Dental Consumable and Laboratory Businesses	$	258,786		$	246,062		$	505,717		$	477,182
Orthodontics/Canada/Mexico/Japan	86,317			85,728			159,219			174,174
Select Distribution Businesses	78,433			82,892			151,684			157,058
Implants/Endodontics/Healthcare/Pacific Rim	342,312			196,399			666,956			374,213
All Other (a)	(2,854		)	(1,638		)	(4,169		)	(2,681		)
Total	$	762,994		$	609,443		$	1,479,407		$	1,179,946

(a) Includes amounts recorded at Corporate headquarters

Net Sales, Excluding Precious Metal Content

Third Party Net Sales, Excluding Precious Metal Content

	Three Months Ended						Six Months Ended
(in thousands)	2012			2011			2012			2011
Dental Consumable and Laboratory Businesses	$	206,862		$	214,181		$	414,346		$	415,289
Orthodontics/Canada/Mexico/Japan	77,037			77,433			142,878			157,908
Select Distribution Businesses	77,130			80,490			148,783			152,530
Implants/Endodontics/Healthcare/Pacific Rim	340,305			193,523			662,268			367,949
All Other (a)	(2,854		)	(1,638		)	(4,169		)	(2,681		)
Total excluding precious metal content	698,480			563,989			1,364,106			1,090,995
Precious metal content	64,514			45,454			115,301			88,951
Total including precious metal content	$	762,994		$	609,443		$	1,479,407		$	1,179,946

(a) Includes amounts recorded at Corporate headquarters

Intersegment Net Sales

Inter-segment Net Sales

	Three Months Ended						Six Months Ended
(in thousands)	2012			2011			2012			2011
Dental Consumable and Laboratory Businesses	$	58,486		$	55,636		$	112,887		$	111,006
Orthodontics/Canada/Mexico/Japan	1,054			953			2,233			1,937
Select Distribution Businesses	2,974			3,729			6,292			7,477
Implants/Endodontics/Healthcare/Pacific Rim	42,409			43,756			80,748			81,798
All Other (a)	56,329			55,458			110,309			106,835
Eliminations	(161,252		)	(159,532		)	(312,469		)	(309,053		)
Total	$	—		$	—		$	—		$	—

(a) Includes amounts recorded at Corporate headquarters and one distribution warehouse not managed by named segments.

Segment Operating Income

Segment Operating Income

	Three Months Ended						Six Months Ended
(in thousands)	2012			2011			2012			2011
Dental Consumable and Laboratory Businesses	$	63,295		$	61,536		$	124,764		$	117,519
Orthodontics/Canada/Mexico/Japan	3,897			4,314			4,263			13,593
Select Distribution Businesses	138			587			(850		)	445
Implants/Endodontics/Healthcare/Pacific Rim	77,224			63,188			143,383			117,613
All Other (a)	(33,119		)	(25,758		)	(71,729		)	(46,086		)
Segment operating income	111,435			103,867			199,831			203,084
Reconciling Items:
Restructuring and other costs	(2,528		)	(6,863		)	(3,765		)	(7,496		)
Interest expense	(14,584		)	(5,570		)	(30,366		)	(11,913		)
Interest income	2,011			2,430			4,308			4,258
Other expense (income), net	(748		)	(1,434		)	(1,230		)	(1,504		)
Income before income taxes	$	95,586		$	92,430		$	168,778		$	186,429

(a) Includes the results of Corporate headquarters, inter-segment eliminations and one distribution warehouse not managed by named segments.

Assets

Assets
(in thousands)	June 30, 2012		December 31, 2011
Dental Consumable and Laboratory Businesses	$	1,012,143	$	1,180,001
Orthodontics/Canada/Mexico/Japan	286,997		328,376
Select Distribution Businesses	207,377		168,500
Implants/Endodontics/Healthcare/Pacific Rim	3,102,736		2,881,591
All Other (a)	261,503		196,930
Total	$	4,870,756	$	4,755,398

(a) Includes the assets of Corporate headquarters, inter-segment eliminations and one distribution warehouse not managed by named segments.

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BUSINESS ACQUISITIONS (Tables)

6 Months Ended

Jun. 30, 2012

Notes to Financial Statements [Abstract]

Preliminary Fair Values Of Assets Acquired And Liabilities Assumed Related To Acquisition

The following table summarizes the preliminary fair value of identifiable assets and liabilities assumed at the date of the Astra Tech acquisition. This table has been updated during the first six months of 2012 to reflect the refined estimates of fair value. The primary change resulted in an increase to identifiable intangible assets relating to customer relationships and a corresponding reduction to goodwill.

(in thousands)
Inventory	$	84,659
Other Current assets	140,462
Property, plant and equipment	178,495
Identifiable intangible assets	986,300
Goodwill	824,357
Other long-term assets	13,438
Total assets	2,227,711
Current liabilities	106,983
Long-term liabilities	329,937
Total liabilities	436,920
Net assets	$	1,790,791

Intangible Assets Acquired

ntangible assets acquired consist of the following:

(in thousands, except for useful life)	Amount		Useful Life (in years)
Customer relationships	$	636,900	17.5 - 20
Developed technology and patents	116,500		10
Trade names and trademarks	229,100		Indefinite
In-process research and development	3,800		—
Total	$	986,300

Pro forma Unaudited Financial Information

The following unaudited pro forma financial information reflects the consolidated results of operations of the Company had the Astra Tech acquisition occurred on January 1, 2010.  These amounts were calculated after conversion to US GAAP, applying the Company’s accounting policies and adjusting Astra Tech’s results to reflect the additional depreciation and amortization that would have been charged assuming the fair value adjustments to property, plant and equipment, inventory and intangible assets had been applied from January 1, 2010, together with the consequential tax effects at the statutory rate.  These adjustments also reflect the additional interest expense incurred on the debt to finance the acquisition.

	Three Months Ended June 30,		Six Months Ended June 30,
(in thousands, except per share data)	2011		2011
Net sales	$	763,659	$	1,479,567
Net income attributable to DENTSPLY	$	71,932	$	141,510
Diluted earnings per common share	$	0.50	$	0.98

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INVENTORIES Inventories (Detail) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Disclosure - Inventories, Net [Abstract]
Finished goods	$ 246,432	$ 218,814
Work-in-process	67,810	66,952
Raw materials and supplies	88,953	75,996
Inventory, net	$ 403,195	$ 361,762

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EARNINGS PER COMMON SHARE Computation of Basic and Diluted Earnings Per Common Share (Detail) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Disclosure - Computation of Basic and Diluted Earnings Per Common Share [Abstract]
Net income attributable to DENTSPLY International	$ 80,764	$ 74,236	$ 134,049	$ 143,320
Shares
Basic (in shares)	141,737	141,052	141,729	141,331
Incremental shares from assumed exercise of dilutive options from stock-based compensation awards (in shares)	2,126	2,321	2,179	2,363
Diluted (in shares)	143,863	143,373	143,908	143,694
Earnings per common share
Basic (in dollars per share)	$ 0.57	$ 0.53	$ 0.95	$ 1.01
Diluted (in dollars per share)	$ 0.56	$ 0.52	$ 0.93	$ 1.00

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INVENTORIES (Tables)

6 Months Ended

Jun. 30, 2012

Notes to Financial Statements [Abstract]

Inventories, net

Inventories, net of inventory valuation reserves, consist of the following:

(in thousands)	June 30, 2012		December 31, 2011
Finished goods	$	246,432	$	218,814
Work-in-process	67,810		66,952
Raw materials and supplies	88,953		75,996
	$	403,195	$	361,762

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BENEFIT PLANS (Tables)

6 Months Ended

Jun. 30, 2012

Notes to Financial Statements [Abstract]

Components of Net Periodic Benefit Cost

The following sets forth the components of net periodic benefit cost of the Company’s defined benefit plans and for the Company’s other postretirement employee benefit plans for the three and six months endedJune 30, 2012 and 2011:

Defined Benefit Plans	Three Months Ended						Six Months Ended
(in thousands)	2012			2011			2012			2011
Service cost	$	3,032		$	2,578		$	6,010		$	5,012
Interest cost	2,627			2,305			5,318			4,492
Expected return on plan assets	(1,189		)	(1,290		)	(2,414		)	(2,506		)
Amortization of prior service cost	(33		)	21			(70		)	41
Amortization of net loss	494			405			992			788
Net periodic benefit cost	$	4,931		$	4,019		$	9,836		$	7,827

Other Postretirement Plans	Three Months Ended				Six Months Ended
(in thousands)	2012		2011		2012		2011
Service cost	$	18	$	16	$	37	$	32
Interest cost	118		139		235		277
Amortization of net loss	57		49		115		98
Net periodic benefit cost	$	193	$	204	$	387	$	407

Information Related to the Contributions to the Compnay's Benefit Plans

The following sets forth the information related to the contributions to the Company’s benefit plans for 2012:

(in thousands)	Pension Benefits		Other Postretirement Benefits
Actual contributions through June 30, 2012	$	6,386	$	416
Projected for the remainder of the year	6,095		562
Total for year	$	12,481	$	978

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CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) (USD $)	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Statement of Stockholders' Equity [Abstract]
Cash dividends, per share	$ 0.11	$ 0.10

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RESTRUCTURING AND OTHER COSTS (Tables)

6 Months Ended

Jun. 30, 2012

Notes to Financial Statements [Abstract]

Restructuring Accruals

At June 30, 2012, the Company’s restructuring accruals were as follows:

	Severance
(in thousands)	2010 and Prior Plans			2011 Plans			2012 Plans			Total
Balance at December 31, 2011	$	3,380		$	1,281		$	—		$	4,661
Provisions and adjustments	—			546			2,383			2,929
Amounts applied	(689		)	(452		)	(929		)	(2,070		)
Balance at June 30, 2012	$	2,691		$	1,375		$	1,454		$	5,520

	Lease/Contract Terminations
(in thousands)	2010 and Prior Plans			2012 Plans			Total
Balance at December 31, 2011	$	1,011		$	—		$	1,011
Provisions and adjustments	—			254			254
Amounts applied	(147		)	(27		)	(174		)
Balance at June 30, 2012	$	864		$	227		$	1,091

	Other Restructuring Costs
(in thousands)	2010 and Prior Plans		2012 Plans			Total
Balance at December 31, 2011	$	34	$	—		$	34
Provisions and adjustments	—		276			276
Amounts applied	—		(123		)	(123		)
Balance at June 30, 2012	$	34	$	153		$	187

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

The following table provides the year-to-date changes in the restructuring accruals by segment:

(in thousands)	December 31, 2011		Provisions and Adjustments		Amounts Applied			June 30, 2012
Dental Consumable and Laboratory Businesses	$	3,601	$	628	$	(1,006	)	$	3,223
Orthodontics/Canada/Mexico/Japan	240		826		(282		)	784
Implants/Endodontics/Healthcare/Pacific Rim	1,865		2,005		(1,079		)	2,791
	$	5,706	$	3,459	$	(2,367	)	$	6,798

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STOCK COMPENSATION Unvested RSU Transactions (Details) (USD $) In Thousands, except Per Share data, unless otherwise specified	6 Months Ended
	Jun. 30, 2012	Dec. 31, 2011
Number of Shares [Roll Forward]
Unvested beginning balance (in shares)	897
Granted (in shares)	413
Vested (in shares)	(244)
Forfeited (in shares)	(25)
Unvested ending balance (in shares)	1,041
Weighted Average Grant Date Fair Value
Unvested beginning balance (in dollars per share)	$ 36.34	$ 32.50
Granted (in dollars per share)	$ 38.71
Vested (in dollars per share)	$ 26.28
Forfeited (in dollars per share)	$ 35.67

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SEGMENT INFORMATION Segment Operating Income (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended				6 Months Ended
	Jun. 30, 2012		Jun. 30, 2011		Jun. 30, 2012		Jun. 30, 2011
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment operating income	$ 108,907		$ 97,004		$ 196,066		$ 195,588
Restructuring and other costs	(2,528)		(6,863)		(3,765)		(7,496)
Interest expense	(14,584)		(5,570)		(30,366)		(11,913)
Interest income	2,011		2,430		4,308		4,258
Other expense (income), net	(748)		(1,434)		(1,230)		(1,504)
Income before income taxes	95,586		92,430		168,778		186,429
Operating Segments [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment operating income	111,435		103,867		199,831		203,084
Dental Consumable and Laboratrory Businesses [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment operating income	63,295		61,536		124,764		117,519
Orthodontics/Canada/Mexico/Japan [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment operating income	3,897		4,314		4,263		13,593
Select Distribution Businesses [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment operating income	138		587		(850)		445
Implants/Endodontics/Healthcare/Pacific Rim [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment operating income	77,224		63,188		143,383		117,613
All Other
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment operating income	$ (33,119)	[1]	$ (25,758)	[1]	$ (71,729)	[1]	$ (46,086)	[1]

[1] (a) Includes the results of Corporate headquarters, inter-segment eliminations and one distribution warehouse not managed by named segments.

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FAIR VALUE MEASUREMENT Financial Assets and Liabilities that are Recorded at Fair Value and Classified Based on the Lowest Level of Input (Detail) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Dec. 31, 2011
Cash Paid For Contingent Consideration	$ 1,781	$ 1,780
Assets	116,120		92,221
Liabilities	347,220		363,090
Money Market Funds
Assets			10,516
Interest Rate Swap
Assets	5,661		5,699
Liabilities	2,318		1,631
Commodity Forward Purchase Contracts
Assets			15
Liabilities	109		259
Cross Currency Interest Rate Swaps
Assets	31,494		19,838
Liabilities	185,723		199,454
Foreign Exchange Forward
Assets	10,569		8,303
Liabilities	2,772		3,898
Long-term Debt
Liabilities	154,895		154,512
Corporate Bond Securities
Assets	68,396		47,850
Contingent Considerations On Acquisitions
Liabilities	823		2,917
Dio Equity Option Contracts
Liabilities	580		419
Fair Value, Inputs, Level 1
Assets	0		10,516
Fair Value, Inputs, Level 1 | Money Market Funds
Assets			10,516
Fair Value, Inputs, Level 2
Assets	47,724		33,855
Liabilities	345,817		359,754
Fair Value, Inputs, Level 2 | Interest Rate Swap
Assets	5,661		5,699
Liabilities	2,318		1,631
Fair Value, Inputs, Level 2 | Commodity Forward Purchase Contracts
Assets			15
Liabilities	109		259
Fair Value, Inputs, Level 2 | Cross Currency Interest Rate Swaps
Assets	31,494		19,838
Liabilities	185,723		199,454
Fair Value, Inputs, Level 2 | Foreign Exchange Forward
Assets	10,569		8,303
Liabilities	2,772		3,898
Fair Value, Inputs, Level 2 | Long-term Debt
Liabilities	154,895		154,512
Fair Value, Inputs, Level 3
Assets	68,396		47,850
Liabilities	1,403		3,336
Fair Value, Inputs, Level 3 | Corporate Bond Securities
Assets	68,396		47,850
Fair Value, Inputs, Level 3 | Contingent Considerations On Acquisitions
Liabilities	823		2,917
Fair Value, Inputs, Level 3 | Dio Equity Option Contracts
Liabilities	580		419
Contingent Considerations On Acquisitions
Cash Paid For Contingent Consideration	$ (1,781)

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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Net sales	$ 762,994	$ 609,443	$ 1,479,407	$ 1,179,946
Cost of products sold	355,525	294,592	679,188	565,111
Gross profit	407,469	314,851	800,219	614,835
Selling, general and administrative expenses	296,034	210,984	600,388	411,751
Restructuring and other costs	2,528	6,863	3,765	7,496
Operating income	108,907	97,004	196,066	195,588
Other income and expenses:
Interest expense	14,584	5,570	30,366	11,913
Interest income	(2,011)	(2,430)	(4,308)	(4,258)
Other expense (income), net	748	1,434	1,230	1,504
Income before income taxes	95,586	92,430	168,778	186,429
Provision for income taxes	14,875	17,957	29,590	41,669
Equity in net earnings (loss) of unconsolidated affilated company	1,329	917	(2,919)	93
Net income	82,040	75,390	136,269	144,853
Less: Net income attributable to noncontrolling interests	1,276	1,154	2,220	1,533
Net income attributable to DENTSPLY International	$ 80,764	$ 74,236	$ 134,049	$ 143,320
Earnings per common share:
Basic (in dollars per share)	$ 0.57	$ 0.53	$ 0.95	$ 1.01
Diluted (in dollars per share)	$ 0.56	$ 0.52	$ 0.93	$ 1.00
Weighted average common shares outstanding:
Basic (in shares)	141,737	141,052	141,729	141,331
Diluted (in shares)	143,863	143,373	143,908	143,694

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BUSINESS ACQUISITIONS Additional Information (Detail) (USD $)		1 Months Ended		6 Months Ended
	Jun. 30, 2012	Aug. 31, 2011 Astra Tech [Member]	Jun. 30, 2012 Astra Tech [Member]	Jun. 30, 2012 Building Y	Jun. 30, 2012 Machinery and equipment Y
Business Acquisition [Line Items]
Percentage of interests acquired, common shares		100.00%
Goodwill	$ 824,357,000		$ 824,400,000
Trade accounts receivable	101,200,000
Accrued and other current liabilities	80,000,000
Trade accounts payable	27,000,000
Noncurrent deferred tax liabilities	280,600,000
Pension obligaitons	49,300,000
Inventory fair value adjustment			32,800,000
Property, plant and equipment fair value adjustment			$ 28,700,000
Depreciable lives (in years)				40
Depreciable lives range, minimum (in years)					5
Depreciable lives range, maximum (in years)					15

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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Cash flows from operating activities:
Net income	$ 136,269	$ 144,853
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	40,357	32,359
Amortization	28,014	4,736
Amortization of deferred financing costs	2,391	0
Deferred income taxes	(4,432)	6,894
Share based compensation expense	11,029	10,316
Restructuring and other costs - non-cash	2,105	(787)
Stock option income tax benefit	(5,163)	(6,217)
Net interest expense on derivatives with an other-than-insignificant financing element	1,135	1,545
Equity in earnings from unconsolidated affiliates	2,919	(93)
Other non-cash expense	(4,237)	(955)
Changes in operating assets and liabilities, net of acquisitions:
Accounts and notes receivable-trade, net	(41,461)	(40,357)
Inventories, net	(47,034)	(8,368)
Prepaid expenses and other current assets	(19,455)	(1,927)
Other noncurrent assets, net	(3,497)	(4,519)
Accounts payable	(1,320)	4,129
Accrued liabilities	(3,244)	9,051
Income taxes payable	5,423	12,942
Other noncurrent liabilities	3,596	2,907
Net cash provided by operating activities	103,395	166,509
Cash flows from investing activities:
Capital expenditures	(42,986)	(25,338)
Cash paid for acquisitions of businesses, net of cash acquired	0	(20,087)
Payments on settlement of net investment hedges	(14,221)	0
Expenditures for identifiable intangible assets	(188)	(332)
Purchase of Company-owned life insurance policies	(1,577)	0
Proceeds from sale of property, plant and equipment, net	465	175
Net cash used in investing activities	(58,507)	(45,582)
Cash flows from financing activities:
Net change in short-term borrowings	(35,181)	(177)
Cash paid for treasury stock	(38,840)	(79,500)
Cash dividends paid	(15,706)	(14,312)
Cash paid for contingent consideration on prior acquisitions	(1,781)	(1,780)
Cash paid for acquisition of noncontrolling interests of consolidated subsidiaries	0	(16,431)
Proceeds from long-term borrowings	0	38,254
Repayments on long-term borrowings	0	(2,403)
Payments on terminated derivative instruments	0	0
Proceeds from exercise of stock options	20,066	33,993
Excess tax benefits from share based compensation	5,163	6,217
Net interest payments on derivatives with an other-than-insignificant financing element	(1,135)	(1,545)
Net cash used in financing activities	(67,414)	(37,684)
Effect of exchange rate changes on cash and cash equivalents	(1,392)	48,429
Net (decrease) increase in cash and cash equivalents	(23,918)	131,672
Cash and cash equivalents at beginning of period	77,128	540,038
Cash and cash equivalents at end of period	$ 53,210	$ 671,710

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RESTRUCTURING AND OTHER COSTS Additional Information (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2012	Jun. 30, 2011 Maximum [Member]
Restructuring Cost and Reserve [Line Items]
Severance Costs	$ 2.1	$ 3.5	$ 0.7

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GOODWILL AND INTANGIBLE ASSETS (Tables)

6 Months Ended

Jun. 30, 2012

Notes to Financial Statements [Abstract]

Changes In Goodwill Table Text Block

A reconciliation of changes in the Company’s goodwill is as follows:

(in thousands)	Dental Consumable and Laboratory Businesses			Orthodontics/Canada/Mexico/Japan			Select Distribution Businesses			Implants/Endodontics/Healthcare/Pacific Rim			Total
Balance at December 31, 2011	$	484,779		$	102,950		$	108,566		$	1,493,768		$	2,190,063
Adjustment of provisional amounts on prior acquisition	—			—			—			(144,530		)	(144,530		)
Business unit transfer	—			—			2,132			(2,132		)	—
Effects of exchange rate changes	(2,054		)	(641		)	(6,602		)	(152		)	(9,449		)
Balance at June 30, 2012	$	482,725		$	102,309		$	104,096		$	1,346,954		$	2,036,084

Reconciliation of Changes in the Company's Goodwill

Identifiable definite-lived and indefinite-lived intangible assets consist of the following:

	June 30, 2012							December 31, 2011
(in thousands)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Patents	$	129,570	$	(23,573	)	$	105,997	$	131,252	$	(17,393	)	$	113,859
Trademarks	85,228		(40,659		)	44,569		73,413		(23,885		)	49,528
Licensing agreements	30,412		(18,094		)	12,318		30,444		(17,277		)	13,167
Customer relationships	703,249		(137,130		)	566,119		411,626		(19,066		)	392,560
Total definite-lived	$	948,459	$	(219,456	)	$	729,003	$	646,735	$	(77,621	)	$	569,114
Trademarks	$	209,993	$	—		$	209,993	$	210,675	$	—		$	210,675
In-process R&D	8,751		—			8,751		11,311		—			11,311
Total indefinite-lived	$	218,744	$	—		$	218,744	$	221,986	$	—		$	221,986
Total identifiable intangible assets	$	1,167,203	$	(219,456	)	$	947,747	$	868,721	$	(77,621	)	$	791,100

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FINANCIAL INSTRUMENTS AND DERIVATIVES Summary of Notional Amounts and Fair Value of the Company's Fair Value Hedges (Details) (USD $)	Jun. 30, 2012
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Derivative Assets (Liabilities), at Fair Value, Net	$ (74,540,000)
Interest Rate Contract
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Derivative Assets (Liabilities), at Fair Value, Net	4,832,000
Interest Rate Contract | More than Two and within Three Years from Balance Sheet Date [Member]
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Notional Amount of Interest Rate Derivatives	45,000,000
Interest Rate Contract | More than Three and within Four Years from Balance Sheet Date [Member]
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Notional Amount of Interest Rate Derivatives	60,000,000
Interest Rate Contract | More than Five Years from Balance Sheet Date and Thereafter
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Notional Amount of Interest Rate Derivatives	45,000,000
Us Dollar Denominated [Member] | Interest Rate Contract
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Derivative Assets (Liabilities), at Fair Value, Net	4,832,000
Us Dollar Denominated [Member] | Interest Rate Contract | More than Two and within Three Years from Balance Sheet Date [Member]
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Notional Amount of Interest Rate Derivatives	45,000,000
Us Dollar Denominated [Member] | Interest Rate Contract | More than Three and within Four Years from Balance Sheet Date [Member]
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Notional Amount of Interest Rate Derivatives	60,000,000
Us Dollar Denominated [Member] | Interest Rate Contract | More than Five Years from Balance Sheet Date and Thereafter
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Notional Amount of Interest Rate Derivatives	45,000,000
Fair Value Hedging [Member]
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Interest Rate Derivatives, at Fair Value, Net	$ 4,800,000

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GOODWILL AND INTANGIBLE ASSETS

6 Months Ended

Jun. 30, 2012

Notes to Financial Statements [Abstract]

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS

A reconciliation of changes in the Company’s goodwill is as follows:

(in thousands)	Dental Consumable and Laboratory Businesses			Orthodontics/Canada/Mexico/Japan			Select Distribution Businesses			Implants/Endodontics/Healthcare/Pacific Rim			Total
Balance at December 31, 2011	$	484,779		$	102,950		$	108,566		$	1,493,768		$	2,190,063
Adjustment of provisional amounts on prior acquisition	—			—			—			(144,530		)	(144,530		)
Business unit transfer	—			—			2,132			(2,132		)	—
Effects of exchange rate changes	(2,054		)	(641		)	(6,602		)	(152		)	(9,449		)
Balance at June 30, 2012	$	482,725		$	102,309		$	104,096		$	1,346,954		$	2,036,084

Identifiable definite-lived and indefinite-lived intangible assets consist of the following:

	June 30, 2012							December 31, 2011
(in thousands)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Patents	$	129,570	$	(23,573	)	$	105,997	$	131,252	$	(17,393	)	$	113,859
Trademarks	85,228		(40,659		)	44,569		73,413		(23,885		)	49,528
Licensing agreements	30,412		(18,094		)	12,318		30,444		(17,277		)	13,167
Customer relationships	703,249		(137,130		)	566,119		411,626		(19,066		)	392,560
Total definite-lived	$	948,459	$	(219,456	)	$	729,003	$	646,735	$	(77,621	)	$	569,114
Trademarks	$	209,993	$	—		$	209,993	$	210,675	$	—		$	210,675
In-process R&D	8,751		—			8,751		11,311		—			11,311
Total indefinite-lived	$	218,744	$	—		$	218,744	$	221,986	$	—		$	221,986
Total identifiable intangible assets	$	1,167,203	$	(219,456	)	$	947,747	$	868,721	$	(77,621	)	$	791,100

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SIGNIFICANT ACCOUNTING POLICIES Additional Information (Details) (USD $)	Jun. 30, 2012	Dec. 31, 2011
Significant Accounting Policies [Line Items]
Net unrealized holding gains on available for-sale securities	$ 14,530,000	$ (516,000)
Trade Accounts Receivable
Significant Accounting Policies [Line Items]
Allowance for doubtful accounts	13,700,000	15,800,000
Noncurrent Assets Member
Significant Accounting Policies [Line Items]
Available-for-sale securities, fair value of DIO bond	68,400,000	47,800,000
Net unrealized holding gains on available for-sale securities	$ 22,000,000	$ 11,500,000

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SIGNIFICANT ACCOUNTING POLICIES (Policies)

6 Months Ended

Jun. 30, 2012

Notes to Financial Statements [Abstract]

Accounts and Notes Receivable-Trade

Accounts and Notes Receivable

The Company sells dental and certain healthcare products through a worldwide network of distributors and directly to end users.  For customers on credit terms, the Company performs ongoing credit evaluations of those customers' financial condition and generally does not require collateral from them.  The Company establishes allowances for doubtful accounts for estimated losses resulting from the inability of its customers to make required payments based on historical averages of aged receivable balances and the Company’s experience in collecting those balances, customer specific circumstances, as well as changes in the economic and political environments.  The Company records a provision for doubtful accounts, which is included in “Selling, general and administrative expenses.”

Marketable Security

Marketable Securities

The Company’s marketable securities consist of corporate convertible bonds that are classified as available-for-sale in “Other noncurrent assets, net” on the consolidated balance sheets as the instruments mature in December 2015. The Company determined the appropriate classification at the time of purchase and will re-evaluate such designation as of each balance sheet date. In addition, the Company reviews the securities each quarter for indications of possible impairment. Once identified, the determination of whether the impairment is temporary or other-than-temporary requires significant judgment. The primary factors that the Company considers in classifying the impairment include the extent and time the fair value of each investment has been below cost and the existence of a credit loss. If a decline in fair value is judged other-than-temporary, the basis of the securities is written down to fair value and the amount of the write-down is included as a realized loss. Changes in fair value are reported in accumulated other comprehensive income (“AOCI”).

 The convertible feature of the bonds has not been bifurcated from the underlying bonds as the feature does not contain a net-settlement feature, nor would the Company be able to achieve a hypothetical net-settlement that would substantially place the Company in a comparable cash settlement position.  As such, the derivative is not accounted for separately from the bond.  The cash paid by the Company was equal to the face value of the bonds issued, and therefore, the Company has not recorded any bond premium or discount on acquiring the bonds. 

New Accounting Pronouncements

New Accounting Pronouncements

In June 2011, the Financial Accounting Standards Board (“FASB”) amended its rules regarding the presentation of comprehensive income.  The objective of this amendment is to improve the comparability, consistency and transparency of financial reporting and to increase the prominence of items reported in other comprehensive income.  Specifically, this amendment requires that all non-owner changes in shareholders' equity be presented either in a single continuous statement of comprehensive income or in two separate but consecutive statements.  The new rules will become effective during interim and annual periods beginning after December 15, 2011, with the exception of the requirement to present reclassification adjustments from other comprehensive income to net income on the face of the financial statements, which has been deferred pending further deliberation by the FASB.  Because the standard only impacts the presentation of comprehensive income and does not impact what is included in comprehensive income, the standard will not have a significant impact on the Company's consolidated financial statements. The Company adopted this accounting standard during the quarter ended March 31, 2012.

In September 2011, the FASB issued Accounting Standards Update No. 2011-08, “Intangibles – Goodwill and Other (Topic 350): Testing Goodwill for Impairment”("ASU"). This newly issued accounting standard is intended to reduce the cost and complexity of the annual goodwill impairment test by providing entities an option to perform a "qualitative" assessment to determine whether further impairment testing is necessary. Under the revised standard, an entity has the option to first assess qualitative factors to determine whether it is necessary to perform the current two-step impairment test. If an entity believes, as a result of its qualitative assessment, that it is more-likely-than-not that the fair value of a reporting unit is less than its carrying amount, the quantitative impairment test is required; otherwise, no further testing is required. Prior to the issuance of the revised standard, an entity was required to perform step one of the impairment test at least annually by calculating and comparing the fair value of a reporting unit to its carrying amount. Under the revised standard, if an entity determines that step one is necessary and the fair value of the reporting unit is less than its carrying amount, then step two of the test will continue to be required to measure the amount of the impairment loss, if any. These amendments do not change the current guidance for testing other indefinite-lived intangible assets for impairment. This ASU is effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011. The Company adopted this standard for the quarter ended June 30, 2012 and it did not impact the Company’s financial position or results from operations.

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FINANCIAL INSTRUMENTS AND DERIVATIVES Impact of the Companys Fair Value Hedges (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Income, Net	$ 449	$ (1,140)	$ 15	$ (1,922)
Cash Flow Hedging | Interest Expense
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Income, Net	646	615	1,485	615
Interest Rate Contract | Cash Flow Hedging | Interest Expense
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Income, Net	$ 646	$ 615	$ 1,485	$ 615

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CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (USD $) In Thousands, unless otherwise specified	Total	Common Stock	Capital in Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock	Total DENTSPLY International Equity	Noncontrolling Interests
Beginning Balance at Dec. 31, 2010	$ 1,909,912	$ 1,628	$ 204,902	$ 2,320,350	$ 24,156	$ (711,650)	$ 1,839,386	$ 70,526
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	144,853			143,320			143,320	1,533
Other comprehensive income (loss)	85,300				79,357		79,357	5,943
Acquisition of noncontrolling interest	(16,431)		22,394				22,394	(38,825)
Exercise of stock options	33,993		(11,578)			45,571	33,993
Tax benefit from stock options exercised	6,217		6,217				6,217
Share based compensation expense	10,362		10,362				10,362
Funding of Employee Stock Ownership Plan	2,974		379			2,595	2,974
Treasury shares purchased	(79,500)					(79,500)	(79,500)
Dividends paid by noncontrolling interest	174
RSU distributions	(2,157)		(5,696)			3,539	(2,157)
RSU dividends			91	(91)
Cash dividends ($0.11 in 2012, $0.10 in 2011 per share)	(14,116)			(14,116)			(14,116)
Ending Balance at Jun. 30, 2011	2,081,233	1,628	227,071	2,449,463	103,513	(739,445)	2,042,230	39,003
Beginning Balance at Dec. 31, 2011	1,884,151	1,628	229,687	2,535,709	(190,970)	(727,977)	1,848,077	36,074
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	136,269			134,049			134,049	2,220
Other comprehensive income (loss)	(13,606)				(12,742)		(12,742)	(864)
Exercise of stock options	20,066		(7,158)			27,224	20,066
Tax benefit from stock options exercised	5,163		5,163				5,163
Share based compensation expense	11,029		11,029				11,029
Funding of Employee Stock Ownership Plan	3,642		370			3,272	3,642
Treasury shares purchased	(38,840)					(38,840)	(38,840)
RSU distributions	(3,276)		(8,344)			5,068	(3,276)
RSU dividends			115	(115)
Cash dividends ($0.11 in 2012, $0.10 in 2011 per share)	(15,599)			(15,599)			(15,599)
Ending Balance at Jun. 30, 2012	$ 1,988,999	$ 1,628	$ 230,862	$ 2,654,044	$ (203,712)	$ (731,253)	$ 1,951,569	$ 37,430

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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Net income	$ 82,040	$ 75,390	$ 136,269	$ 144,853
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(178,746)	62,051	(45,275)	152,767
Net gain (loss) on derivative financial instruments	47,089	(36,391)	14,957	(63,403)
Net unrealized holding (loss) gain on available-for-sale securities	(7,954)	(6,233)	15,046	(2,031)
Pension liability adjustments	1,726	(1,500)	1,666	(2,033)
Total other comprehensive (loss) income	(137,885)	17,927	(13,606)	85,300
Total comprehensive (loss) income	(55,845)	93,317	122,663	230,153
Less: Comprehensive (loss) income attributable to noncontrolling interests	(928)	3,833	1,356	7,476
Comprehensive (loss) income attributable to DENTSPLY International	$ (54,917)	$ 89,484	$ 121,307	$ 222,677

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RESTRUCTURING AND OTHER COSTS

6 Months Ended

Jun. 30, 2012

Notes to Financial Statements [Abstract]

RESTRUCTURING AND OTHER COSTS

RESTRUCTURING AND OTHER COSTS

Restructuring Costs

During the three and six months ended June 30, 2012, the Company recorded restructuring costs of $2.1 million and $3.5 million, respectively.  These costs primarily related to employee severance.  During the three and six months ended June 30, 2011, the Company recorded restructuring costs of $0.7 million, related to employee severance costs.  These costs are recorded in “Restructuring and other costs” in the consolidated statements of operations and the associated liabilities are recorded in "Accrued liabilities" in the consolidated balance sheets.

During 2012, the Company initiated several restructuring plans primarily related to the integration, reorganization and closure or consolidation of certain production and selling facilities in order to better leverage the Company’s resources by minimizing costs and obtaining operational efficiencies.

At June 30, 2012, the Company’s restructuring accruals were as follows:

	Severance
(in thousands)	2010 and Prior Plans			2011 Plans			2012 Plans			Total
Balance at December 31, 2011	$	3,380		$	1,281		$	—		$	4,661
Provisions and adjustments	—			546			2,383			2,929
Amounts applied	(689		)	(452		)	(929		)	(2,070		)
Balance at June 30, 2012	$	2,691		$	1,375		$	1,454		$	5,520

	Lease/Contract Terminations
(in thousands)	2010 and Prior Plans			2012 Plans			Total
Balance at December 31, 2011	$	1,011		$	—		$	1,011
Provisions and adjustments	—			254			254
Amounts applied	(147		)	(27		)	(174		)
Balance at June 30, 2012	$	864		$	227		$	1,091

	Other Restructuring Costs
(in thousands)	2010 and Prior Plans		2012 Plans			Total
Balance at December 31, 2011	$	34	$	—		$	34
Provisions and adjustments	—		276			276
Amounts applied	—		(123		)	(123		)
Balance at June 30, 2012	$	34	$	153		$	187

The following table provides the year-to-date changes in the restructuring accruals by segment:

(in thousands)	December 31, 2011		Provisions and Adjustments		Amounts Applied			June 30, 2012
Dental Consumable and Laboratory Businesses	$	3,601	$	628	$	(1,006	)	$	3,223
Orthodontics/Canada/Mexico/Japan	240		826		(282		)	784
Implants/Endodontics/Healthcare/Pacific Rim	1,865		2,005		(1,079		)	2,791
	$	5,706	$	3,459	$	(2,367	)	$	6,798

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Document and Entity Information	6 Months Ended
	Jun. 30, 2012	Jul. 27, 2012
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2012
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	Q2
Trading Symbol	XRAY
Entity Registrant Name	DENTSPLY INTERNATIONAL INC /DE/
Entity Central Index Key	0000818479
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		141,784,960

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FINANCIAL INSTRUMENTS AND DERIVATIVES

6 Months Ended

Jun. 30, 2012

Notes to Financial Statements [Abstract]

FINANCIAL INSTRUMENTS AND DERIVATIVES

FINANCIAL INSTRUMENTS AND DERIVATIVES

Derivative Instruments and Hedging Activities

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

Derivative instruments not designated as hedging

The Company enters into derivative financial instruments to hedge the foreign exchange revaluation risk associated with recorded assets and liabilities that are denominated in a non-functional currency. The gains and losses on these derivative transactions offset the gains and losses generated by the revaluation of the underlying non-functional currency balances and are recorded in “Other expense (income), net” on the consolidated statements of operations. The Company primarily uses forward foreign exchange contracts and cross currency basis swaps to hedge these risks. The Company's significant contracts outstanding as of June 30, 2012 are summarized in the tables that follow.

The Company wrote DIO equity option contracts ("equity options") to the original sellers of the DIO investment for the remaining DIO common shares held by the sellers. The equity options provide the sellers the ability to require the Company to purchase their remaining shares on hand at a price based on an agreed-upon formula at specific time frames in the future. The sellers are also allowed to sell their remaining shares on the open market. Changes in the fair value of the equity options are reported in “Other expense (income), net” on the consolidated statements of operations. This derivative is further discussed in Note 11, Fair Value Measurement.

Cash Flow Hedges

Foreign Exchange Risk Management

The Company uses a layered hedging program to hedge select anticipated foreign currency cash flows to reduce volatility in both cash flows and reported earnings of the consolidated Company. The Company accounts for the foreign exchange forward contracts as cash flow hedges. As a result, the Company records the fair value of the contract primarily through AOCI based on the tested effectiveness of the foreign exchange forward contracts. The Company measures the effectiveness of cash flow hedges of anticipated transactions on a spot-to-spot basis rather than on a forward-to-forward basis. Accordingly, the spot-to-spot change in the derivative fair value will be deferred in AOCI and released and recorded on the consolidated statements of operations in the same period that the hedged transaction is recorded. Any time value component of the hedge fair value is deemed ineffective and will be reported currently in “Other expense (income), net” on the consolidated statements of operations in the period which it is applicable. Any cash flows associated with these instruments are included in cash from operations in accordance with the Company's policy of classifying the cash flows from these instruments in the same category as the cash flows from the items being hedged.

These foreign exchange forward contracts generally have maturities up to eighteen months and the counterparties to the transactions are typically large international financial institutions. The Company's significant contracts outstanding as of June 30, 2012 are summarized in the tables that follow.

Interest Rate Risk Management

The Company uses interest rate swaps to convert a portion of its variable interest rate debt to fixed interest rate debt. As of June 30, 2012, the Company has two groups of significant interest rate swaps. One of the groups of swaps has notional amounts totaling 12.6 billion Japanese yen, and effectively converts the underlying variable interest rates to an average fixed interest rate of 0.2% for a term of three years, ending in September 2014. Another swap has a notional amount of 65.0 million Swiss francs, and effectively converts the underlying variable interest rates to a fixed interest rate of 0.7% for a term of five years, ending in September 2016.

The Company enters into interest rate swap contracts infrequently as they are only used to manage interest rate risk on long-term debt instruments and not for speculative purposes. The Company's significant contracts outstanding as of June 30, 2012 are summarized in the tables that follow.

Commodity Risk Management

The Company selectively enters into commodity swaps to effectively fix certain variable raw material costs. These swaps are used purely to stabilize the cost of components used in the production of certain of the Company's products. The Company generally accounts for the commodity swaps as cash flow hedges. As a result, the Company records the fair value of the swap primarily through AOCI based on the tested effectiveness of the commodity swap. The Company measures the effectiveness of cash flow hedges of anticipated transactions on a spot-to-spot basis rather than on a forward-to-forward basis. Accordingly, the spot-to-spot change in the derivative fair value will be deferred in AOCI and released and recorded on the consolidated statements of operations in the same period that the hedged transaction is recorded. At any time the value component of the hedge fair value is deemed ineffective and will be reported currently in “Interest expense” in the period which it is applicable. Any cash flows associated with these instruments are included in cash from operations in accordance with the Company's policy of classifying the cash flows from these instruments in the same category as the cash flows from the items being hedged.

At June 30, 2012, the Company had swaps in place to purchase 766 troy ounces of platinum bullion for use in production at an average fixed rate of $1,467 per troy ounce.  In addition, the Company had swaps in place to purchase 76,870 troy ounces of silver bullion for use in production at an average fixed rate of $28 per troy ounce.

The following tables summarize the notional amounts and fair value of the Company's cash flow hedges and non-designated derivatives at June 30, 2012:

Foreign Exchange Forward Contracts	Notional Amounts Maturing in the Year									Fair Value Net Asset (Liability)
(in thousands)	2012			2013			2014			June 30, 2012
Forward sale, 12.3 million Australian dollars	$	8,061		$	3,884		$	139		$	(698	)
Forward purchase, 7.4 million British pounds	(11,326		)	(193		)	—			167
Forward sale, 43.6 million Canadian dollars	21,955			20,015			1,212			862
Forward purchase, 22.2 million Danish kroner	(3,773		)	—			—			(24		)
Forward sale, 143.4 million euros	63,919			112,840			5,835			4,080
Forward purchase, 0.4 billion Japanese yen	4,471			(8,569		)	(506		)	(343		)
Forward sale, 165.2 million Mexican pesos	12,384			—			—			(502		)
Forward purchase, 17.2 million Norwegian kroner	(2,893		)	—			—			14
Forward sale, 4.2 million Polish zlotys	1,259			—			—			(49		)
Forward sale, 2.6 million Singapore dollars	2,065			—			—			20
Forward sale, 5.7 billion South Korean won	4,994			—			—			(35		)
Forward purchase, 1.0 billion Swedish kronor	(69,982		)	(67,198		)	(3,270		)	3,080
Forward purchase, 14.0 million Swiss francs	(33,566		)	19,233			860			1,229
Forward sale, 32.5 million Taiwanese dollars	1,092			—			—			(4		)
Total foreign exchange forward contracts	$	(1,340	)	$	80,012		$	4,270		$	7,797

Interest Rate Swaps	Notional Amounts Maturing in the Year										Fair Value Net Asset (Liability)
(in thousands)	2012		2013		2014		2015		2016 and Beyond		June 30, 2012
Euro	$	598	$	1,195	$	914	$	914	$	2,057	$	(550	)
Japanese yen	—		—		157,053		—		—		376
Swiss francs	—		—		—		—		68,482		(1,315		)
Total interest rate swaps	$	598	$	1,195	$	157,967	$	914	$	70,539	$	(1,489	)

Commodity Swap Contracts	Notional Amounts Maturing in the Year				Fair Value Net  Asset (Liability)
(in thousands)	2012		2013		June 30, 2012
Silver swap - U.S. dollar	$	1,526	$	563	$	(84	)
Platinum swap - U.S. dollar	777		321		(25		)
Total commodity swap contracts	$	2,303	$	884	$	(109	)

Cross Currency Basis Swap	Notional Amounts Maturing in the Year		Fair Value Net Asset (Liability)
(in thousands)	2014		June 30, 2012
Euro 449.8 million @ $1.45  pay USD 3 mth. LIBOR receive EUR 3 mth. EURIBOR	$	569,267	$	(79,689	)
Total cross currency basis swap	$	569,267	$	(79,689	)

At June 30, 2012, deferred net gains on derivative instruments of $3.7 million, which were recorded in AOCI, are expected to be reclassified to current earnings during the next twelve months. This reclassification is primarily due to the sale of inventory that includes previously hedged purchases and interest rate swaps. The maximum term over which the Company is hedging exposures to variability of cash flows (for all forecasted transactions, excluding interest payments on variable interest rate debt) is eighteen months. Overall, the derivatives designated as cash flow hedges are highly effective. Any cash flows associated with these instruments are included in cash from operations in accordance with the Company's policy of classifying the cash flows from these instruments in the same category as the cash flows from the items being hedged.

Hedges of Net Investments in Foreign Operations

The Company has numerous investments in foreign subsidiaries. The net assets of these subsidiaries are exposed to volatility in currency exchange rates. Currently, the Company uses both non-derivative financial instruments, including foreign currency denominated debt held at the parent company level and derivative financial instruments to hedge some of this exposure. Translation gains and losses related to the net assets of the foreign subsidiaries are offset by gains and losses in the non-derivative and derivative financial instruments designated as hedges of net investments, which are included in AOCI.

During the second quarter of 2012, the Company entered into two new cross currency basis swaps totaling Swiss francs 56.6 million (the “Swiss Swaps”). The Swiss Swaps mature in May 2015, and the Company pays three-month Swiss franc London Inter-Bank Offered Rate ("LIBOR") minus 37.9 basis points on Swiss francs 56.6 million and receives three-month U.S. dollar LIBOR on $60.5 million. The new contracts were entered into to replace maturing contracts. The Swiss Swaps are designated as net investment hedges of the Swiss denominated net assets. The interest rate differential is recognized in the earnings as interest income or interest expense as it is accrued. The foreign currency revaluation is recorded in AOCI, net of tax effects.

At June 30, 2012 and December 31, 2011, the Company had Swiss franc-denominated and Japanese yen-denominated debt and cross currency basis swaps denominated in euro and Swiss franc to hedge the currency exposure related to a designated portion of the net assets of its European, Swiss and Japanese subsidiaries. The fair value of the cross currency interest rate swap agreements is the estimated amount the Company would (pay) receive at the reporting date, taking into account the effective interest rates and foreign exchange rates. At June 30, 2012 and December 31, 2011, the estimated net fair values of the cross currency interest rate swap agreements was a liability of $74.5 million and a liability of $111.9 million, respectively, which are recorded in AOCI, net of tax effects. At June 30, 2012 and December 31, 2011, the accumulated translation gain (loss) on investments in foreign subsidiaries, primarily denominated in euros, Swiss francs, Japanese yen and Swedish krona, net of these net investment hedges, were $173.8 million in losses and $143.7 million in losses, respectively, which were included in AOCI, net of tax effects.

The following tables summarize the notional amounts and fair value of the Company's cross currency basis swaps that are designated as hedges of net investments in foreign operations at June 30, 2012:

Cross Currency Basis Swaps	Notional Amounts Maturing in the Year							Fair Value Net Asset (Liability)
(in thousands)		2013		2014		2015		June 30, 2012
Swiss franc 592.5 million @ 1.09 pay CHF 3 mth. LIBOR rec. USD 3 mth. LIBOR		$	479,903	$	84,707	$	59,632	$	(79,240	)
Euro 618.0 million @ $1.27 pay EUR 3 mth. EURIBOR rec. USD 3 mth. LIBOR		782,203		—		—		4,700
Total cross currency basis swaps		$	1,262,106	$	84,707	$	59,632	$	(74,540	)

Fair Value Hedges

Effective April 4, 2011, the Company entered into a group of U.S. dollar denominated interest rate swaps with an initial total notional value of $150.0 million to effectively convert the underlying fixed interest rate of 4.1% on the Company's $250.0 million Private Placement Notes ("PPN") to variable rate for a term of five years, ending February 2016. The notional value of the swaps will decline proportionately as portions of the PPN mature. These interest rate swaps are designated as fair value hedges of the interest rate risk associated with the hedged portion of the fixed rate PPN. Accordingly, the Company will carry the portion of the hedged debt at fair value, with the change in debt and swap offsetting each other in the income statement. At June 30, 2012, the estimated net fair value of these interest rate swaps was $4.8 million.

The following tables summarize the notional amounts and fair value of the Company's fair value hedges at June 30, 2012:

Interest Rate Swap	Notional Amounts Maturing in the Year						Fair Value Net Asset (Liability)
(in thousands)	2014		2015		2016 and Beyond		June 30, 2012
U.S. dollars	$	45,000	$	60,000	$	45,000	$	4,832
Total interest rate swap	$	45,000	$	60,000	$	45,000	$	4,832

The following tables summarize the fair value and consolidated balance sheet location of the Company's derivatives at June 30, 2012 and December 31, 2011:

	June 30, 2012
(in thousands)	Prepaid Expenses and Other Current Assets		Other Noncurrent Assets, Net		Accrued Liabilities		Other Noncurrent Liabilities
Designated as Hedges
Foreign exchange forward contracts	$	6,143	$	754	$	883	$	123
Commodity contracts	—		—		109		—
Interest rate swaps	2,505		3,156		—		1,768
Cross currency basis swaps	—		31,494		82,949		23,085
Total	$	8,648	$	35,404	$	83,941	$	24,976
Not Designated as Hedges
Foreign exchange forward contracts	$	3,672	$	—	$	1,766	$	—
DIO equity option contracts	—		—		—		580
Interest rate swaps	—		—		108		442
Cross currency basis swaps	—		—		—		79,689
Total	$	3,672	$	—	$	1,874	$	80,711

	December 31, 2011
(in thousands)	Prepaid Expenses and Other Current Assets		Other Noncurrent Assets, Net		Accrued Liabilities		Other Noncurrent Liabilities
Designated as Hedges
Foreign exchange forward contracts	$	5,464	$	896	$	641	$	107
Commodity contracts	—		15		257		2
Interest rate swaps	2,539		3,160		—		1,050
Cross currency basis swaps	—		19,838		13,790		117,974
Total	$	8,003	$	23,909	$	14,688	$	119,133
Not Designated as Hedges
Foreign exchange forward contracts	$	1,943	$	—	$	3,150	$	—
Commodity contracts	—		—		—		419
Interest rate swaps	—		—		105		476
Cross currency basis swaps	—		—		—		67,690
Total	$	1,943	$	—	$	3,255	$	68,585

The following tables summarize the statements of operations impact of the Company's cash flow hedges for the three and six months ended June 30, 2012 and 2011:

Three Months Ended June 30, 2012
Derivatives in Cash Flow Hedging
(in thousands)	Gain (Loss) in AOCI			Classification of Gains (Losses)	Effective Portion Reclassified from AOCI into Income
Interest rate contracts	$	(727	)	Interest expense	$	(897	)
Foreign exchange forward contracts	4,785			Cost of products sold	1,842
Foreign exchange forward contracts	391			SG&A expenses	226
Commodity contracts	(581		)	Cost of products sold	96
Total	$	3,868			$	1,267

Derivatives in Cash Flow Hedging
	Classification of Gains (Losses)	Ineffective portion Recognized in Income
(in thousands)
Foreign exchange forward contracts	Other expense, net	$	278
Commodity contracts	Interest expense	11
Total		$	289

Three Months Ended June 30, 2011
Derivatives in Cash Flow Hedging
(in thousands)	Gain (Loss) in AOCI			Classification of Gains (Losses)	Effective Portion Reclassified from AOCI into Income
Interest rate swaps	$	9,879		Interest expense	$	(1,318	)
Foreign exchange forward contracts	238			Cost of products sold	386
Foreign exchange forward contracts	(195		)	SG&A expenses	(95		)
Commodity contracts	29			Cost of products sold	91
Total	$	9,951			$	(936	)

Derivatives in Cash Flow Hedging
(in thousands)	Classification of Gains (Losses)	Ineffective Portion Recognized in Income
Interest rate swaps	Other expense, net	$	65
Foreign exchange forward contracts	Interest expense	(188		)
Commodity contracts	Interest expense	1
Total		$	(122	)

Six Months Ended June 30, 2012
Derivatives in Cash Flow Hedging
(in thousands)	Gain (Loss) in AOCI			Classification of Gains (Losses)	Effective Portion Reclassified from AOCI into Income
Interest rate swaps	$	(1,399	)	Interest expense	$	(1,802	)
Foreign exchange forward contracts	3,351			Cost of products sold	2,992
Foreign exchange forward contracts	302			SG&A expenses	457
Commodity contracts	257			Cost of products sold	50
Total	$	2,511			$	1,697

Derivatives in Cash Flow Hedging
(in thousands)	Classification of Gains (Losses)	Ineffective Portion Recognized in Income
Foreign exchange forward contracts	Interest expense	$	478
Commodity contracts	Interest expense	(6		)
Total		$	472

Six Months Ended June 30, 2011
Derivatives in Cash Flow Hedging
(in thousands)	Gain (Loss) in AOCI			Classification of Gains (Losses)	Effective Portion Reclassified from AOCI into Income
Interest rate swaps	$	9,598		Interest expense	$	(2,569	)
Foreign exchange forward contracts	(694		)	Cost of products sold	854
Foreign exchange forward contracts	(462		)	SG&A expenses	11
Commodity contracts	56			Cost of products sold	196
Total	$	8,498			$	(1,508	)

Derivatives in Cash Flow Hedging
(in thousands)	Classification of Gains (Losses)	Ineffective Portion Recognized in Income
Interest rate swaps	Other expense, net	$	167
Foreign exchange forward contracts	Interest expense	(216		)
Foreign exchange forward contracts	Other expense, net	(188		)
Commodity contracts	Interest expense	(2		)
Total		$	(239	)

The following tables summarize the statements of operations impact of the Company's hedges of net investments for the three and six months ended June 30, 2012 and 2011:

Three Months Ended June 30, 2012
Derivatives in Net Investment Hedging
(in thousands)	Gain (Loss) in AOCI		Classification of Gains (Losses)	Gain (Loss) Recognized in Income
Cross currency interest rate swaps	$	73,784	Interest income	$	861
			Interest expense	(412		)
Total	$	73,784		$	449

Three Months Ended June 30, 2011
Derivatives in Net Investment Hedging
(in thousands)	Gain (Loss) in AOCI			Classification of Gains (Losses)	Gain (Loss) Recognized in Income
Cross currency interest rate swaps	$	(70,023	)	Interest income	$	170
				Interest expense	(1,310		)
Total	$	(70,023	)		$	(1,140	)

Six Months Ended June 30, 2012
Derivatives in Net Investment Hedging
(in thousands)	Gain (Loss) in AOCI		Classification of Gains (Losses)	Gain (Loss) Recognized in Income
Cross currency interest rate swaps	$	23,415	Interest income	$	1,633
			Interest expense	(1,618		)
Total	$	23,415		$	15

Six Months Ended June 30, 2011
Derivatives in Net Investment Hedging
(in thousands)	Gain (Loss) in AOCI			Classification of Gains (Losses)	Gain (Loss) Recognized in Income
Cross currency interest rate swaps	$	(112,703	)	Interest income	$	369
				Interest expense	(2,291		)
Total	$	(112,703	)		$	(1,922	)

The following tables summarize the statements of operations impact of the Company's hedges of fair value for the three and six months ended June 30, 2012 and 2011:

Derivatives in Fair Value Hedging
	Classification	Three Months Ended June 30,
(in thousands)	of Gains (Losses)	2012		2011
Interest rate contracts	Interest expense	$	646	$	615
Total		$	646	$	615

Derivatives in Fair Value Hedging
	Classification	Six Months Ended June 30,
(in thousands)	of Gains (Losses)	2012		2011
Interest rate contracts	Interest expense	$	1,485	$	615
Total		$	1,485	$	615

The following table summarizes the statements of operations impact of the Company's hedges not designated as hedging for the three and six months ended June 30, 2012 and 2011:

Derivatives Not Designated as Hedging
	Classification	Three Months Ended June 30,
(in thousands)	of Gains (Losses)	2012			2011
Foreign exchange forward contracts	Other expense, net	$	(2,545	)	$	(394	)
DIO equity option contracts	Other expense, net	95			26
Interest rate contracts	Interest expense	(45		)	107
Cross currency interest rate contracts (a)	Other expense, net	(30,427		)	—
Cross currency interest rate contracts	Interest expense	(261		)	—
Cross currency interest rate contracts	Interest income	27			—
Total		$	(33,156	)	$	(261	)

Derivatives Not Designated as Hedging
	Classification	Six Months Ended June 30,
(in thousands)	of Gains (Losses)	2012			2011
Foreign exchange forward contracts	Other expense, net	$	306		$	1,309
DIO equity option contracts	Other expense, net	(178		)	26
Interest rate contracts	Interest expense	(87		)	51
Cross currency interest rate contracts (a)	Other expense, net	(12,301		)	—
Cross currency interest rate contracts	Interest expense	(261		)	—
Cross currency interest rate contracts	Interest income	446			—
Total		$	(12,075	)	$	1,386

(a) The gains and losses on these derivative transactions offset the gains and losses generated by the revaluation of the underlying intercompany loans which are recorded in “Other expense (income), net” on the consolidated statements of operations.

Amounts recorded in AOCI related to cash flow hedging instruments at:

	Three Months Ended June 30,						Six Months Ended June 30,
(in thousands, net of tax)	2012			2011			2012			2011
Beginning balance	$	(13,944	)	$	(2,275	)	$	(12,737	)	$	(1,468	)
Changes in fair value of derivatives	3,054			6,137			2,277			5,101
Reclassifications to earnings from equity	(1,267		)	467			(1,697		)	696
Total activity	1,787			6,604			580			5,797
Ending balance	$	(12,157	)	$	4,329		$	(12,157	)	$	4,329

Amounts recorded in AOCI related to hedges of net investments in foreign operations at:

	Three Months Ended June 30,						Six Months Ended June 30,
(in thousands, net of tax)	2012			2011			2012			2011
Beginning balance	$	(42,524	)	$	106,664		$	(143,730	)	$	45,417
Foreign currency translation adjustment	(175,281		)	66,059			(48,473		)	152,497
Changes in fair value of:
Foreign currency debt	(1,262		)	(6,687		)	4,062			(5,673		)
Derivative hedge instruments	45,303			(42,995		)	14,377			(69,200		)
Total activity	(131,240		)	16,377			(30,034		)	77,624
Ending balance	$	(173,764	)	$	123,041		$	(173,764	)	$	123,041

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CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Current Assets:
Cash and cash equivalents	$ 53,210	$ 77,128
Accounts and notes receivable-trade, net	462,233	427,709
Inventories, net	403,195	361,762
Prepaid expenses and other current assets	186,544	146,304
Total Current Assets	1,105,182	1,012,903
Property, plant and equipment, net	587,285	591,445
Identifiable intangible assets, net	947,747	791,100
Goodwill, net	2,036,084	2,190,063
Other noncurrent assets, net	194,458	169,887
Total Assets	4,870,756	4,755,398
Current Liabilities:
Accounts payable	145,850	149,117
Accrued liabilities	347,906	289,201
Income taxes payable	12,646	9,054
Notes payable and current portion of long-term debt	241,801	276,701
Total Current Liabilities	748,203	724,073
Long-term debt	1,482,783	1,490,010
Deferred income taxes	334,673	249,822
Other noncurrent liabilities	316,098	407,342
Total Liabilities	2,881,757	2,871,247
Commitments and contingencies
Equity:
Preferred stock, $.01 par value; .25 million shares authorized; no shares issued	0	0
Common stock, $.01 par value; 200.0 million shares authorized; 162.8 million shares issued at June 30, 2012 and December 31, 2011	1,628	1,628
Capital in excess of par value	230,862	229,687
Retained earnings	2,654,044	2,535,709
Accumulated other comprehensive loss	(203,712)	(190,970)
Treasury stock, at cost, 21.0 million and 21.1 million shares at June 30, 2012 and December 31, 2011, respectively	(731,253)	(727,977)
Total DENTSPLY International Equity	1,951,569	1,848,077
Noncontrolling Interests	37,430	36,074
Total Equity	1,988,999	1,884,151
Total Liabilities and Equity	$ 4,870,756	$ 4,755,398

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EARNINGS PER COMMON SHARE

6 Months Ended

Jun. 30, 2012

Notes to Financial Statements [Abstract]

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE

The dilutive effect of outstanding non-qualified stock options and RSU is reflected in diluted earnings per share by application of the treasury stock method. The following table sets forth the computation of basic and diluted earnings per common share for the three and six months ended June 30, 2012 and 2011:

	Three Months Ended				Six Months Ended
Basic Earnings Per Common Share Computation
(in thousands, except per share amounts)	2012		2011		2012		2011
Net income attributable to DENTSPLY International	$	80,764	$	74,236	$	134,049	$	143,320
Common shares outstanding	141,737		141,052		141,729		141,331
Earnings per common share - basic	$	0.57	$	0.53	$	0.95	$	1.01
Diluted Earnings Per Common Share Computation
(in thousands, except per share amounts)
Net income attributable to DENTSPLY International	$	80,764	$	74,236	$	134,049	$	143,320
Common shares outstanding	141,737		141,052		141,729		141,331
Incremental shares from assumed exercise of dilutive options from stock-based compensation awards	2,126		2,321		2,179		2,363
Total shares	143,863		143,373		143,908		143,694
Earnings per common share - diluted	$	0.56	$	0.52	$	0.93	$	1.00

Options to purchase 3.8 million and 4.1 million shares of common stock that were outstanding during the three and six months ended June 30, 2012, respectively, were not included in the computation of diluted earnings per share since the exercise prices for these options were greater than the average market price of the common shares and, therefore, the effect would be antidilutive.  There were 3.0 million and 3.4 million antidilutive shares of common stock outstanding during the three and six months ended June 30, 2011, respectively.

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COMPREHENSIVE INCOME

6 Months Ended

Jun. 30, 2012

COMPREHENSIVE INCOME [Abstract]

Comprehensive Income

COMPREHENSIVE INCOME

During the quarter ended June 30, 2012, foreign currency translation adjustments included currency translation losses of $175.3 million and losses on the Company’s loans designated as hedges of net investments of $1.3 million.  During the quarter ended June 30, 2011, foreign currency translation adjustments included currency translation gains of $52.4 million and gains of $9.7 million on the Company’s loans designated as hedges of net investments.  During the six months ended June 30, 2012, foreign currency translation adjustments included currency losses of $48.5 million and gains on the Company's loans designated as hedges of net investments of $4.1 million. During the six months ended June 30, 2011, foreign currency translation adjustments included currency translation gains of $142.1 million and gains on the Company's loans designated as hedges as investments of $10.7 million. These foreign currency translation adjustments were offset by movements on derivative financial instruments, which are discussed in Note 10, Financial Instruments and Derivatives.

The balances included in AOCI, net of tax, in the consolidated balance sheets are as follows:

(in thousands)	June 30, 2012			December 31, 2011
Foreign currency translation adjustments	$	(83,489	)	$	(39,078	)
Net loss on derivative financial instruments	(102,433		)	(117,390		)
Net unrealized holding gains (losses) on available-for-sale securities	14,530			(516		)
Pension liability adjustments	(32,320		)	(33,986		)
	$	(203,712	)	$	(190,970	)

The cumulative foreign currency translation adjustments included translation gains of $47.8 million and $96.3 million at June 30, 2012 and December 31, 2011, respectively, was more than offset by losses of $129.4 million and $133.5 million, respectively, on loans designated as hedges of net investments.  These foreign currency translation adjustments were partially offset by movements on derivatives financial instruments, which are discussed in Note 10, Financial Instruments and Derivatives.

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COMMITMENTS AND CONTINGENCIES

6 Months Ended

Jun. 30, 2012

Notes to Financial Statements [Abstract]

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES

Litigation

On June 18, 2004, Marvin Weinstat, DDS and Richard Nathan, DDS filed a class action suit in San Francisco County, California alleging that the Company misrepresented that its Cavitron® ultrasonic scalers are suitable for use in oral surgical procedures. 

The Complaint seeks a recall of the product and refund of its purchase price to dentists who have purchased it for use in oral surgery. The Court certified the case as a class action in June 2006 with respect to the breach of warranty and unfair business practices claims. The class that was certified is defined as California dental professionals who purchased and used one or more Cavitron® ultrasonic scalers for the performance of oral surgical procedures. The case is pending in the San Francisco County Court. As the result of several hearings, the Judge has held that the class period will be from June 2000 to the present. The Class Notice, once approved by the Court, will be mailed to dentists licensed to practice in California during the class period from June 2000 to the present.

On December 12, 2006, a Complaint was filed by Carole Hildebrand, DDS and Robert Jaffin, DDS in the Eastern District of Pennsylvania (the Plaintiffs subsequently added Dr. Mitchell Goldman as a named class representative).  The case was filed by the same law firm that filed the Weinstat case in California.  The Complaint asserts putative class action claims on behalf of dentists located in New Jersey and Pennsylvania. The Complaint seeks damages and asserts that the Company's Cavitron® ultrasonic scaler was negligently designed and sold in breach of contract and warranty arising from misrepresentations about the potential uses of the product because it cannot assure the delivery of potable or sterile water. Plaintiffs have filed their motion for class certification to which the Company has filed its response. The Company also filed other motions, including a motion to dismiss the claims of Drs. Hildebrand and Jaffin for lack of standing. The Court granted this motion for lack of standing of the individuals and did not allow the plaintiffs to amend the complaint to substitute their corporate practices, leaving Dr. Goldman as the only putative class representative, raising a question of jurisdiction of the U.S. District Court. Subsequently, the Court issued an Order dismissing this case on the grounds that it did not have jurisdiction over the matter. The plaintiffs filed a second complaint (under the name “Center City Periodontists”) after the Court granted the initial Motion for lack of standing, in which they named the corporate practices of Drs. Hildebrand and Jaffin as class representatives. The Company has moved to dismiss this complaint and the Court has not yet ruled on this Motion.

The Company does not believe a loss is probable related to the above litigation. Further a reasonable estimate of a possible range of loss cannot be made.   In the event that one or more of these matters is unfavorably resolved, it is possible the Company's results from operations could be materially impacted.

Purchase Commitments

From time to time, the Company enters into long-term inventory purchase commitments with minimum purchase requirements for raw materials and finished goods to ensure the availability of products for production and distribution.  These commitments may have a significant impact on levels of inventory maintained by the Company.

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FAIR VALUE MEASUREMENT

6 Months Ended

Jun. 30, 2012

Notes to Financial Statements [Abstract]

FAIR VALUE MEASUREMENT

FAIR VALUE MEASUREMENT

The Company records financial instruments at fair value with unrealized gains and losses related to certain financial instruments reflected in AOCI on the consolidated balance sheets.  In addition, the Company recognizes certain liabilities at fair value.  The Company applies the market approach for recurring fair value measurements.  Accordingly, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs.

The fair value of financial instruments is determined by reference to various market data and other valuation techniques as appropriate. The Company believes the carrying amounts of cash and cash equivalents, accounts receivable (net of allowance for doubtful accounts), prepaid expenses and other current assets, accounts payable, accrued liabilities, income taxes payable and notes payable approximate fair value due to the short-term nature of these instruments.  The Company estimated the fair value and carrying value of total long-term debt, including the current portion, was $1,524.4 million and $1,483.9 million, respectively, at June 30, 2012.   At December 31, 2011, the Company estimated the fair value and carrying value, including the current portion, was $1,512.5 million and $1,491.4 million respectively.  The interest rate on the $450.0 million Senior Notes, the $300.0 million Senior Notes, and the $250.0 million PPN are fixed rates of 4.1%, 2.8% and 4.1%, respectively, and their fair value is based on the interest rates as of June 30, 2012. The interest rates on variable rate term loan debt and commercial paper are consistent with current market conditions, therefore the fair value of these instruments approximates their carrying values.

The following tables set forth by level within the fair value hierarchy the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis at June 30, 2012 and December 31, 2011, which are classified as “Cash and cash equivalents,” “Prepaid expenses and other current assets,” “Other noncurrent assets, net,” “Accrued liabilities,” and “Other noncurrent liabilities” on the consolidated balance sheets.  Financial assets and liabilities that are recorded at fair value as of the balance sheet date are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.

	June 30, 2012
(in thousands)	Total		Level 1		Level 2		Level 3
Assets
Interest rate swaps	$	5,661	$	—	$	5,661	$	—
Cross currency interest rate swaps	31,494		—		31,494		—
Foreign exchange forward contracts	10,569		—		10,569		—
Corporate convertible bonds	68,396		—		—		68,396
Total assets	$	116,120	$	—	$	47,724	$	68,396
Liabilities
Interest rate swaps	$	2,318	$	—	$	2,318	$	—
Commodity forward purchase contracts	109		—		109		—
Cross currency interest rate swaps	185,723		—		185,723		—
Foreign exchange forward contracts	2,772		—		2,772		—
Long term debt	154,895		—		154,895		—
Contingent considerations on acquisitions	823		—		—		823
DIO equity option contracts	580		—		—		580
Total liabilities	$	347,220	$	—	$	345,817	$	1,403

	December 31, 2011
(in thousands)	Total		Level 1		Level 2		Level 3
Assets
Money market funds	$	10,516	$	10,516	$	—	$	—
Interest rate swaps	5,699		—		5,699		—
Commodity forward purchase contracts	15		—		15		—
Cross currency interest rate swaps	19,838		—		19,838		—
Foreign exchange forward contracts	8,303		—		8,303		—
Corporate convertible bonds	47,850		—		—		47,850
Total assets	$	92,221	$	10,516	$	33,855	$	47,850
Liabilities
Interest rate swaps	$	1,631	$	—	$	1,631	$	—
Commodity forward purchase contracts	259		—		259		—
Cross currency interest rate swaps	199,454		—		199,454		—
Foreign exchange forward contracts	3,898		—		3,898		—
Long term debt	154,512		—		154,512		—
Contingent considerations on acquisitions	2,917		—		—		2,917
DIO equity option contracts	419		—		—		419
Total liabilities	$	363,090	$	—	$	359,754	$	3,336

Derivative valuations are based on observable inputs to the valuation model including interest rates, foreign currency exchange rates, future commodities prices and credit risks.  The commodity contracts, certain interest rate swaps and foreign exchange forward contracts are considered cash flow hedges and certain cross currency interest rate swaps are considered hedges of net investments in foreign operations as discussed in Note 10, Financial Instruments and Derivatives.

The Company uses the income method valuation technique to estimate the fair value of the corporate bonds.  The significant unobservable inputs for valuing the corporate bonds are DIO Corporation’s stock volatility factor of approximately 40% and corporate bond rating which implies an approximately 15% discount rate on the valuation model.  Significant observable inputs used to value the corporate bonds include foreign exchange rates and DIO Corporation’s period-ending market stock price.

The Company has valued the DIO equity option contracts using a Monte Carlo simulation which uses several estimates and probability assumptions by management including the future stock price, the stock price as a multiple of DIO earnings and the probability of the sellers to reduce their shares held by selling into the open market.  The fair value of equity option contracts are reported in “Other noncurrent liabilities,” on the consolidated balance sheets and changes in the fair value are reported in “Other expense (income), net” on the consolidated statements of operations.

Certain purchase agreements for acquisitions completed after January 1, 2009 contain provisions where the seller could receive additional consideration based on the future operating performance of the acquired business.  In accordance with US GAAP, the Company has recorded the fair value of these additional payments on the acquisition date. The fair value was based on a probability-weighted average payout discounted using a market rate of approximately 5%.  The fair value is subject to management’s estimates at the time of the acquisition and is based upon level 3 inputs.  The fair values of these additional payments are reported in “Other noncurrent liabilities,” on the consolidated balance sheets. 

The following table presents a reconciliation of the Company’s level 3 holdings measured at fair value on a recurring basis using unobservable inputs:

(in thousands)	Corporate Convertible Bonds			DIO Equity Options Contracts			Contingent Considerations
Balance at December 31, 2011	$	47,850		$	(424	)	$	2,917
Payments, gross	—			—			(1,781		)
Adjustments:
Reported in selling, general and administrative expense	—			—			(326		)
Unrealized gain:
Reported in AOCI	22,023			—			—
Unrealized loss:
Reported in other expense (income), net	—			(178		)	—
Effects of exchange rate changes	(1,477		)	14			13
Balance at June 30, 2012	$	68,396		$	(588	)	$	823

For the six months ended June 30, 2012, there were no purchases, issuances or transfers of level 3 financial instruments. The Company paid $1.8 million of contingent considerations.

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INVENTORIES

6 Months Ended

Jun. 30, 2012

Notes to Financial Statements [Abstract]

INVENTORIES

INVENTORIES

Inventories are stated at the lower of cost or market.  At June 30, 2012 and December 31, 2011, the cost of $8.6 million, or 2.1% and $7.1 million, or 2.1% of inventories, respectively, was determined using the last-in, first-out (“LIFO”) method. The cost of the remaining inventories was determined using the first-in, first-out (“FIFO”) or average cost methods. If the FIFO method had been used to determine the cost of LIFO inventories, the amounts at which net inventories are stated would be higher than reported at June 30, 2012 and December 31, 2011 by $5.7 million and $5.6 million, respectively.

The Company establishes reserves for inventory in order to present the net realizable value.  The inventory valuation reserves were $34.9 million and $35.1 million at June 30, 2012 and December 31, 2011, respectively.

Inventories, net of inventory valuation reserves, consist of the following:

(in thousands)	June 30, 2012		December 31, 2011
Finished goods	$	246,432	$	218,814
Work-in-process	67,810		66,952
Raw materials and supplies	88,953		75,996
	$	403,195	$	361,762

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RESTRUCTURING AND OTHER COSTS Restructuring Accruals (Detail) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2012
Restructuring Reserve [Roll Forward]
Beginning Balance	$ 5,706
Provisions and adjustments	3,459
Amounts applied	(2,367)
Ending Balance	6,798
Employee Severance
Restructuring Reserve [Roll Forward]
Beginning Balance	4,661
Provisions and adjustments	2,929
Amounts applied	(2,070)
Ending Balance	5,520
Employee Severance | Restructuring Fiscal 2010 and Prior Plans
Restructuring Reserve [Roll Forward]
Beginning Balance	3,380
Provisions and adjustments	0
Amounts applied	(689)
Ending Balance	2,691
Employee Severance | Restructuring - Fiscal 2011 Plans
Restructuring Reserve [Roll Forward]
Beginning Balance	1,281
Provisions and adjustments	546
Amounts applied	(452)
Ending Balance	1,375
Employee Severance | Restructuring Fiscal 2012 Plan
Restructuring Reserve [Roll Forward]
Beginning Balance	0
Provisions and adjustments	2,383
Amounts applied	(929)
Ending Balance	1,454
Contract Termination
Restructuring Reserve [Roll Forward]
Beginning Balance	1,011
Provisions and adjustments	254
Amounts applied	(174)
Ending Balance	1,091
Contract Termination | Restructuring Fiscal 2010 and Prior Plans
Restructuring Reserve [Roll Forward]
Beginning Balance	1,011
Provisions and adjustments	0
Amounts applied	(147)
Ending Balance	864
Contract Termination | Restructuring - Fiscal 2011 Plans
Restructuring Reserve [Roll Forward]
Beginning Balance	0
Provisions and adjustments	254
Amounts applied	(27)
Ending Balance	227
Other Restructuring
Restructuring Reserve [Roll Forward]
Beginning Balance	34
Provisions and adjustments	276
Amounts applied	(123)
Ending Balance	187
Other Restructuring | Restructuring Fiscal 2010 and Prior Plans
Restructuring Reserve [Roll Forward]
Beginning Balance	34
Provisions and adjustments	0
Amounts applied	0
Ending Balance	34
Other Restructuring | Restructuring - Fiscal 2011 Plans
Restructuring Reserve [Roll Forward]
Beginning Balance	0
Provisions and adjustments	276
Amounts applied	(123)
Ending Balance	$ 153

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BUSINESS ACQUISITIONS

6 Months Ended

Jun. 30, 2012

Notes to Financial Statements [Abstract]

BUSINESS ACQUISITIONS

BUSINESS ACQUISITIONS

On August 31, 2011, the Company acquired 100% of the outstanding common shares of Astra Tech, a leading developer, manufacturer and marketer of dental implants, customized implant abutments and consumable medical devices in the urology and surgery market segments.

The Astra Tech acquisition was recorded in accordance with the business combinations provisions of US GAAP.  The Company has preliminarily valued tangible and identifiable intangible assets acquired based on their estimated fair values.  The Company is in the process of completing the valuation of identifiable assets acquired and liabilities assumed and, therefore, the fair values set forth below are subject to adjustment upon finalizing the valuations. In addition, completion of the valuation may impact the assessment of the net deferred tax liability currently recognized with any adjustment resulting in a corresponding change to goodwill. The amount of these potential adjustments could be significant.

The following table summarizes the preliminary fair value of identifiable assets and liabilities assumed at the date of the Astra Tech acquisition. This table has been updated during the first six months of 2012 to reflect the refined estimates of fair value. The primary change resulted in an increase to identifiable intangible assets relating to customer relationships and a corresponding reduction to goodwill.

(in thousands)
Inventory	$	84,659
Other Current assets	140,462
Property, plant and equipment	178,495
Identifiable intangible assets	986,300
Goodwill	824,357
Other long-term assets	13,438
Total assets	2,227,711
Current liabilities	106,983
Long-term liabilities	329,937
Total liabilities	436,920
Net assets	$	1,790,791

Other current assets consist primarily of trade accounts receivable of $101.2 million.  Current liabilities assumed are primarily comprised of accrued and other current liabilities of $80.0 million and trade accounts payable of $27.0 million.  Long-term liabilities assumed are primarily comprised of noncurrent deferred tax liabilities of $280.6 million and pension obligations of $49.3 million.

Inventory held by Astra Tech includes a fair value adjustment of $32.8 million.  The Company expensed this amount by December 31, 2011 as the acquired inventory was sold.

Property, plant and equipment includes a fair value adjustment of $28.7 million and consists of land, buildings, plant and equipment.  Depreciable lives range 40 years for buildings and from 5 to 15 years for plant and equipment.

The preliminary fair values assigned to identifiable intangible assets were determined through the use of the income approach, specifically the relief from royalty method and the multi-period excess earnings method. Both valuation methods rely on management’s judgments, including expected future cash flows resulting from existing customer relationships, customer attrition rates, contributory effects of other assets utilized in the business, peer group cost of capital and royalty rates as well as other factors. The valuation of tangible assets was derived using the combination of the income approach, the market approach and the cost approach. Significant judgments used in valuing tangible assets include estimated reproduction or replacement cost, useful lives of assets, estimated selling prices, costs to complete and reasonable profit.

Useful lives for identifiable intangible assets were determined based upon the remaining useful economic lives of the identifiable intangible assets that are expected to contribute to future cash flows.  The acquired identifiable intangible assets are being amortized on a straight-line basis over their expected useful lives.

Identifiable intangible assets acquired consist of the following:

(in thousands, except for useful life)	Amount		Useful Life (in years)
Customer relationships	$	636,900	17.5 - 20
Developed technology and patents	116,500		10
Trade names and trademarks	229,100		Indefinite
In-process research and development	3,800		—
Total	$	986,300

The $824.4 million of goodwill is attributable to the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired and liabilities assumed. The goodwill recognized is primarily attributable to cost savings and other synergies that the Company expects to realize through operational efficiencies.  All of the goodwill has been assigned to the Company's Implants/Endodontics/Healthcare/Pacific Rim segment and is not expected to be deductible for tax purposes.

The following unaudited pro forma financial information reflects the consolidated results of operations of the Company had the Astra Tech acquisition occurred on January 1, 2010.  These amounts were calculated after conversion to US GAAP, applying the Company’s accounting policies and adjusting Astra Tech’s results to reflect the additional depreciation and amortization that would have been charged assuming the fair value adjustments to property, plant and equipment, inventory and intangible assets had been applied from January 1, 2010, together with the consequential tax effects at the statutory rate.  These adjustments also reflect the additional interest expense incurred on the debt to finance the acquisition.

	Three Months Ended June 30,		Six Months Ended June 30,
(in thousands, except per share data)	2011		2011
Net sales	$	763,659	$	1,479,567
Net income attributable to DENTSPLY	$	71,932	$	141,510
Diluted earnings per common share	$	0.50	$	0.98

The pro forma financial information is based on the Company's preliminary assignment of purchase price and therefore subject to adjustment upon finalizing the purchase price assignment. The Astra Tech financial information has been compiled in a manner consistent with the accounting policies adopted by DENTSPLY. Pro forma results do not include any anticipated synergies or other anticipated benefits of the acquisition. Accordingly, the unaudited pro forma financial information is not necessarily indicative of either future results of operations or results that might have been achieved had the acquisition occurred on January 1, 2010.  While the Company completed other transactions during the pro forma periods presented above, these transactions were immaterial to the Company’s net sales and net income attributable to DENTSPLY.

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SEGMENT AND GEOGRAPHIC INFORMATION

6 Months Ended

Jun. 30, 2012

Notes to Financial Statements [Abstract]

SEGMENT INFORMATION

SEGMENT INFORMATION

The Company has numerous operating businesses covering a wide range of dental and certain healthcare products and geographic regions, primarily serving the professional dental market. Professional dental products represented approximately 89% and 97% of sales for the three months ended June 30, 2012 and 2011, respectively, and 89% and 97% of sales for the six months ended June 30, 2012 and 2011, respectively.

The operating businesses are combined into operating groups, which have overlapping product offerings, geographical presence, customer bases, distribution channels, and regulatory oversight. These operating groups are considered the Company’s reportable segments as the Company’s chief operating decision-maker regularly reviews financial results at the operating group level and uses this information to manage the Company’s operations. The accounting policies of the groups are consistent with those described in the Company’s most recently filed Form 10-K in the summary of significant accounting policies.  The Company measures segment income for reporting purposes as operating income before restructuring and other costs, interest expense, interest income, other income and expenses and income taxes.

During the first quarter of 2012 the Company realigned reporting responsibilities for multiple locations as a result of changes to the management structure. These changes also helped the Company gain operating efficiencies and effectiveness. The segment information below reflects the revised structure for all periods shown.

Dental Consumable and Laboratory Businesses

This business group includes responsibility for the design, manufacturing, sales and distribution of certain small equipment and chairside consumable products in the United States, Germany and certain other European regions.  It also has responsibility for the sales and distribution of certain Endodontic products in Germany. This business group also includes the responsibility for the design, manufacture, sales and distribution of most dental laboratory products, excluding certain countries. This business group is also responsible for most of the Company’s non-dental business excluding healthcare products.

Orthodontics/Canada/Mexico/Japan

  This business group is responsible for the world-wide manufacturing, sales and distribution of the Company’s Orthodontic products. It also has responsibility for the sales and distribution of most of the Company’s dental products sold in Japan, Canada and Mexico.

Select Distribution Businesses

This business group includes responsibility for the sales and distribution for most of the Company's dental products sold in France, United Kingdom, Italy, Austria and certain other European countries, Middle Eastern countries, India and Africa.

Implants/Endodontics/Healthcare/Pacific Rim

This business group includes the responsibility for the design, manufacture, sales and distribution of most of the Company’s dental implant and related products. This business group also includes the responsibility for the design and manufacturing of Endodontic products and is responsible for the sales and distribution of the Company’s Endodontic products in the United States, Switzerland, and locations not covered by other selling divisions.  In addition, this business group is also responsible for sales and distribution of certain Endodontic products in Germany, Asia and other parts of the world. Additionally, this business group is responsible for the design and manufacture of certain dental consumables and dental laboratory products and the sales and distribution of most dental products sold in Brazil, Latin America (excluding Mexico), Australia and most of Asia (excluding India and Japan). This business group is also responsible for the world-wide design, manufacturing, sales and distribution of the Company's healthcare products (non-dental) throughout most of the world.

Significant interdependencies exist among the Company’s operations in certain geographic areas. Inter-group sales are at prices intended to provide a reasonable profit to the manufacturing unit after recovery of all manufacturing costs and to provide a reasonable profit for purchasing locations after coverage of marketing and general and administrative costs.

Generally, the Company evaluates performance of the operating groups based on the groups’ operating income, excluding restructuring and other costs, and net third party sales, excluding precious metal content.

The following tables set forth information about the Company’s operating groups for the three and six months ended June 30, 2012 and 2011:

Third Party Net Sales

	Three Months Ended						Six Months Ended
(in thousands)	2012			2011			2012			2011
Dental Consumable and Laboratory Businesses	$	258,786		$	246,062		$	505,717		$	477,182
Orthodontics/Canada/Mexico/Japan	86,317			85,728			159,219			174,174
Select Distribution Businesses	78,433			82,892			151,684			157,058
Implants/Endodontics/Healthcare/Pacific Rim	342,312			196,399			666,956			374,213
All Other (a)	(2,854		)	(1,638		)	(4,169		)	(2,681		)
Total	$	762,994		$	609,443		$	1,479,407		$	1,179,946

(a) Includes amounts recorded at Corporate headquarters.

Third Party Net Sales, Excluding Precious Metal Content

	Three Months Ended						Six Months Ended
(in thousands)	2012			2011			2012			2011
Dental Consumable and Laboratory Businesses	$	206,862		$	214,181		$	414,346		$	415,289
Orthodontics/Canada/Mexico/Japan	77,037			77,433			142,878			157,908
Select Distribution Businesses	77,130			80,490			148,783			152,530
Implants/Endodontics/Healthcare/Pacific Rim	340,305			193,523			662,268			367,949
All Other (a)	(2,854		)	(1,638		)	(4,169		)	(2,681		)
Total excluding precious metal content	698,480			563,989			1,364,106			1,090,995
Precious metal content	64,514			45,454			115,301			88,951
Total including precious metal content	$	762,994		$	609,443		$	1,479,407		$	1,179,946

(a) Includes amounts recorded at Corporate headquarters.

Inter-segment Net Sales

	Three Months Ended						Six Months Ended
(in thousands)	2012			2011			2012			2011
Dental Consumable and Laboratory Businesses	$	58,486		$	55,636		$	112,887		$	111,006
Orthodontics/Canada/Mexico/Japan	1,054			953			2,233			1,937
Select Distribution Businesses	2,974			3,729			6,292			7,477
Implants/Endodontics/Healthcare/Pacific Rim	42,409			43,756			80,748			81,798
All Other (a)	56,329			55,458			110,309			106,835
Eliminations	(161,252		)	(159,532		)	(312,469		)	(309,053		)
Total	$	—		$	—		$	—		$	—

(a) Includes amounts recorded at Corporate headquarters and one distribution warehouse not managed by named segments.

Segment Operating Income

	Three Months Ended						Six Months Ended
(in thousands)	2012			2011			2012			2011
Dental Consumable and Laboratory Businesses	$	63,295		$	61,536		$	124,764		$	117,519
Orthodontics/Canada/Mexico/Japan	3,897			4,314			4,263			13,593
Select Distribution Businesses	138			587			(850		)	445
Implants/Endodontics/Healthcare/Pacific Rim	77,224			63,188			143,383			117,613
All Other (a)	(33,119		)	(25,758		)	(71,729		)	(46,086		)
Segment operating income	111,435			103,867			199,831			203,084
Reconciling Items:
Restructuring and other costs	(2,528		)	(6,863		)	(3,765		)	(7,496		)
Interest expense	(14,584		)	(5,570		)	(30,366		)	(11,913		)
Interest income	2,011			2,430			4,308			4,258
Other expense (income), net	(748		)	(1,434		)	(1,230		)	(1,504		)
Income before income taxes	$	95,586		$	92,430		$	168,778		$	186,429

(a) Includes the results of Corporate headquarters, inter-segment eliminations and one distribution warehouse not managed by named segments.

Assets
(in thousands)	June 30, 2012		December 31, 2011
Dental Consumable and Laboratory Businesses	$	1,012,143	$	1,180,001
Orthodontics/Canada/Mexico/Japan	286,997		328,376
Select Distribution Businesses	207,377		168,500
Implants/Endodontics/Healthcare/Pacific Rim	3,102,736		2,881,591
All Other (a)	261,503		196,930
Total	$	4,870,756	$	4,755,398

(a) Includes the assets of Corporate headquarters, inter-segment eliminations and one distribution warehouse not managed by named segments.

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BENEFIT PLANS

6 Months Ended

Jun. 30, 2012

Notes to Financial Statements [Abstract]

BENEFIT PLANS

BENEFIT PLANS

The following sets forth the components of net periodic benefit cost of the Company’s defined benefit plans and for the Company’s other postretirement employee benefit plans for the three and six months endedJune 30, 2012 and 2011:

Defined Benefit Plans	Three Months Ended						Six Months Ended
(in thousands)	2012			2011			2012			2011
Service cost	$	3,032		$	2,578		$	6,010		$	5,012
Interest cost	2,627			2,305			5,318			4,492
Expected return on plan assets	(1,189		)	(1,290		)	(2,414		)	(2,506		)
Amortization of prior service cost	(33		)	21			(70		)	41
Amortization of net loss	494			405			992			788
Net periodic benefit cost	$	4,931		$	4,019		$	9,836		$	7,827

Other Postretirement Plans	Three Months Ended				Six Months Ended
(in thousands)	2012		2011		2012		2011
Service cost	$	18	$	16	$	37	$	32
Interest cost	118		139		235		277
Amortization of net loss	57		49		115		98
Net periodic benefit cost	$	193	$	204	$	387	$	407

The following sets forth the information related to the contributions to the Company’s benefit plans for 2012:

(in thousands)	Pension Benefits		Other Postretirement Benefits
Actual contributions through June 30, 2012	$	6,386	$	416
Projected for the remainder of the year	6,095		562
Total for year	$	12,481	$	978

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FINANCIAL INSTRUMENTS AND DERIVATIVES Fair Value of Cross Currency Basis Swaps that are Designated as Hedges of Net Investments in Foreign Operations (Details) In Thousands, unless otherwise specified	Jun. 30, 2012 USD ($)	Dec. 31, 2011 USD ($)	Jun. 30, 2012 Cross Currency Interest Rate Swaps Member USD ($)	Jun. 30, 2012 Cross Currency Interest Rate Swaps Member CHF	Dec. 31, 2011 Cross Currency Interest Rate Swaps Member USD ($)	Jun. 30, 2012 Cross Currency Basis Swaps Member USD ($)	Jun. 30, 2012 Swiss franc 592.5 million @ $1.12 pay CHF 3mo. LIBOR rec. USD 3mo. LIBOR USD ($)	Jun. 30, 2012 Euros 618.0 Million 1.27 Pay EUR 3 Month EURIBOR Rec USD 3 Month LIBOR USD ($)	Jun. 30, 2012 Euros 618.0 Million 1.27 Pay EUR 3 Month EURIBOR Rec USD 3 Month LIBOR Cross Currency Basis Swaps Member USD ($)	Jun. 30, 2012 More than One and within Two Years from Balance Sheet Date [Member] USD ($)	Jun. 30, 2012 More than One and within Two Years from Balance Sheet Date [Member] Swiss franc 592.5 million @ $1.12 pay CHF 3mo. LIBOR rec. USD 3mo. LIBOR USD ($)	Jun. 30, 2012 More than One and within Two Years from Balance Sheet Date [Member] Euros 618.0 Million 1.27 Pay EUR 3 Month EURIBOR Rec USD 3 Month LIBOR USD ($)	Jun. 30, 2012 More than Two and within Three Years from Balance Sheet Date [Member] USD ($)	Jun. 30, 2012 More than Two and within Three Years from Balance Sheet Date [Member] Cross Currency Basis Swaps Member USD ($)	Jun. 30, 2012 More than Two and within Three Years from Balance Sheet Date [Member] Swiss franc 592.5 million @ $1.12 pay CHF 3mo. LIBOR rec. USD 3mo. LIBOR USD ($)	Jun. 30, 2012 More than Two and within Three Years from Balance Sheet Date [Member] Euros 618.0 Million 1.27 Pay EUR 3 Month EURIBOR Rec USD 3 Month LIBOR USD ($)	Jun. 30, 2012 More than Two and within Three Years from Balance Sheet Date [Member] Euros 618.0 Million 1.27 Pay EUR 3 Month EURIBOR Rec USD 3 Month LIBOR Cross Currency Basis Swaps Member USD ($)	Jun. 30, 2012 More than Three and within Four Years from Balance Sheet Date [Member] Swiss franc 592.5 million @ $1.12 pay CHF 3mo. LIBOR rec. USD 3mo. LIBOR USD ($)	Jun. 30, 2012 More than Three and within Four Years from Balance Sheet Date [Member] Euros 618.0 Million 1.27 Pay EUR 3 Month EURIBOR Rec USD 3 Month LIBOR USD ($)	Jun. 30, 2012 International Subsidiaries Member USD ($)	Dec. 31, 2011 International Subsidiaries Member USD ($)	Jun. 30, 2012 Net Investment Hedging [Member] USD ($)	Mar. 31, 2012 Net Investment Hedging [Member] USD ($)	Dec. 31, 2011 Net Investment Hedging [Member] USD ($)	Jun. 30, 2011 Net Investment Hedging [Member] USD ($)	Mar. 31, 2011 Net Investment Hedging [Member] USD ($)	Dec. 31, 2010 Net Investment Hedging [Member] USD ($)
Derivative Instruments, Gain (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax	$ (102,433)	$ (117,390)	$ 74,500		$ 111,900																	$ (173,764)	$ (42,524)	$ (143,730)	$ 123,041	$ 106,664	$ 45,417
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax	(83,489)	(39,078)																		(173,800)	(143,700)
Notional amounts			60,500	56,600			59,632			1,262,106	479,903	782,203	84,707	569,267	84,707	0	569,267	59,632	0
Fair Value Net Asset (Liability)	$ (74,540)					$ (79,689)	$ (79,240)	$ 4,700	$ (79,689)

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FINANCIAL INSTRUMENTS AND DERIVATIVES Fair value and Location on the Consolidated Balance Sheets (Details) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Prepaid Expenses and Other Current Assets
Derivatives, Fair Value [Line Items]
Derivative Assets Designated as Hedges	$ 8,648	$ 8,003
Derivative Assets Not Designated as Hedges	3,672	1,943
Other Noncurrent Assets
Derivatives, Fair Value [Line Items]
Derivative Assets Designated as Hedges	35,404	23,909
Derivative Assets Not Designated as Hedges	0	0
Accrued Liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities Designated as Hedges	83,941	14,688
Derivative Liabilities Not Designated as Hedges	1,874	3,255
Other Noncurrent Liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities Designated as Hedges	24,976	119,133
Derivative Liabilities Not Designated as Hedges	80,711	68,585
Foreign Exchange Forward | Prepaid Expenses and Other Current Assets
Derivatives, Fair Value [Line Items]
Derivative Assets Designated as Hedges	6,143	5,464
Derivative Assets Not Designated as Hedges	3,672	1,943
Foreign Exchange Forward | Other Noncurrent Assets
Derivatives, Fair Value [Line Items]
Derivative Assets Designated as Hedges	754	896
Derivative Assets Not Designated as Hedges	0	0
Foreign Exchange Forward | Accrued Liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities Designated as Hedges	883	641
Derivative Liabilities Not Designated as Hedges	1,766	3,150
Foreign Exchange Forward | Other Noncurrent Liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities Designated as Hedges	123	107
Derivative Liabilities Not Designated as Hedges	0	0
Commodity Forward Purchase Contracts | Prepaid Expenses and Other Current Assets
Derivatives, Fair Value [Line Items]
Derivative Assets Designated as Hedges	0	0
Commodity Forward Purchase Contracts | Other Noncurrent Assets
Derivatives, Fair Value [Line Items]
Derivative Assets Designated as Hedges	0	15
Commodity Forward Purchase Contracts | Accrued Liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities Designated as Hedges	109	257
Commodity Forward Purchase Contracts | Other Noncurrent Liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities Designated as Hedges	0	2
Interest Rate Swap | Prepaid Expenses and Other Current Assets
Derivatives, Fair Value [Line Items]
Derivative Assets Designated as Hedges	2,505	2,539
Derivative Assets Not Designated as Hedges	0	0
Interest Rate Swap | Other Noncurrent Assets
Derivatives, Fair Value [Line Items]
Derivative Assets Designated as Hedges	3,156	3,160
Derivative Assets Not Designated as Hedges	0	0
Interest Rate Swap | Accrued Liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities Designated as Hedges	0	0
Derivative Liabilities Not Designated as Hedges	108	105
Interest Rate Swap | Other Noncurrent Liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities Designated as Hedges	1,768	1,050
Derivative Liabilities Not Designated as Hedges	442	476
Cross Currency Basis Swaps | Prepaid Expenses and Other Current Assets
Derivatives, Fair Value [Line Items]
Derivative Assets Designated as Hedges	0	0
Derivative Assets Not Designated as Hedges	0	0
Cross Currency Basis Swaps | Other Noncurrent Assets
Derivatives, Fair Value [Line Items]
Derivative Assets Designated as Hedges	31,494	19,838
Derivative Assets Not Designated as Hedges	0	0
Cross Currency Basis Swaps | Accrued Liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities Designated as Hedges	82,949	13,790
Derivative Liabilities Not Designated as Hedges	0	0
Cross Currency Basis Swaps | Other Noncurrent Liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities Designated as Hedges	23,085	117,974
Derivative Liabilities Not Designated as Hedges	79,689	67,690
Dio Equity Option Contracts | Prepaid Expenses and Other Current Assets
Derivatives, Fair Value [Line Items]
Derivative Assets Not Designated as Hedges	0	0
Dio Equity Option Contracts | Other Noncurrent Assets
Derivatives, Fair Value [Line Items]
Derivative Assets Not Designated as Hedges	0	0
Dio Equity Option Contracts | Accrued Liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities Not Designated as Hedges	0	0
Dio Equity Option Contracts | Other Noncurrent Liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities Not Designated as Hedges	$ 580	$ 419

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FINANCIAL INSTRUMENTS AND DERIVATIVES Summary of Notional Amounts and Fair Value of the Company's Cash Flow Hedges (Detail)	Jun. 30, 2012 USD ($)	Jun. 30, 2012 Foreign Exchange Forward USD ($)	Jun. 30, 2012 Foreign Exchange Forward Derivatives Sold Currency, Australian Dollar USD ($)	Jun. 30, 2012 Foreign Exchange Forward Derivatives Sold Currency, Canadian Dollar USD ($)	Jun. 30, 2012 Foreign Exchange Forward Derivatives Sold Currency, Euro USD ($)	Jun. 30, 2012 Foreign Exchange Forward Derivatives Sold Currency, Japanese Yen USD ($)	Jun. 30, 2012 Foreign Exchange Forward Derivatives Sold Currency, Mexican Pesos USD ($)	Jun. 30, 2012 Foreign Exchange Forward Derivatives Sold Currency, Polish Zlotys USD ($)	Jun. 30, 2012 Foreign Exchange Forward Derivatives Sold Currency, Singapore Dollar USD ($)	Jun. 30, 2012 Foreign Exchange Forward Derivatives Sold Currency, South Korean Won USD ($)	Jun. 30, 2012 Foreign Exchange Forward Derivatives Sold Currency, Swiss Franc USD ($)	Jun. 30, 2012 Foreign Exchange Forward Derivatives Sold Currency, Taiwanese Dollars USD ($)	Jun. 30, 2012 Foreign Exchange Forward Derivative Purchased Currency, British Pound Sterling USD ($)	Jun. 30, 2012 Foreign Exchange Forward Derivative Purchased Currency, Danish Krone USD ($)	Jun. 30, 2012 Foreign Exchange Forward Derivative Purchased Currency, Norwegian Kroner USD ($)	Jun. 30, 2012 Foreign Exchange Forward Derivative Purchased Currency, Swedish Kronor USD ($)	Jun. 30, 2012 Interest Rate Swap USD ($)	Jun. 30, 2012 Interest Rate Swap Currency, Euro USD ($)	Jun. 30, 2012 Interest Rate Swap Currency, Japanese Yen USD ($)	Jun. 30, 2012 Interest Rate Swap Currency, Swiss Franc USD ($)	Jun. 30, 2012 Interest Rate Swap One Year from Balance Sheet Date USD ($)	Jun. 30, 2012 Interest Rate Swap One Year from Balance Sheet Date Currency, Euro USD ($)	Jun. 30, 2012 Interest Rate Swap More than One and within Two Years from Balance Sheet Date [Member] USD ($)	Jun. 30, 2012 Interest Rate Swap More than One and within Two Years from Balance Sheet Date [Member] Currency, Euro USD ($)	Jun. 30, 2012 Interest Rate Swap More than One and within Two Years from Balance Sheet Date [Member] Currency, Japanese Yen USD ($)	Jun. 30, 2012 Interest Rate Swap More than One and within Two Years from Balance Sheet Date [Member] Currency, Swiss Franc USD ($)	Jun. 30, 2012 Interest Rate Swap More than Two and within Three Years from Balance Sheet Date [Member] USD ($)	Jun. 30, 2012 Interest Rate Swap More than Two and within Three Years from Balance Sheet Date [Member] Currency, Euro USD ($)	Jun. 30, 2012 Interest Rate Swap More than Two and within Three Years from Balance Sheet Date [Member] Currency, Japanese Yen USD ($)	Jun. 30, 2012 Interest Rate Swap More than Three and within Four Years from Balance Sheet Date [Member] USD ($)	Jun. 30, 2012 Interest Rate Swap More than Three and within Four Years from Balance Sheet Date [Member] Currency, Euro USD ($)	Jun. 30, 2012 Interest Rate Swap More than Five Years from Balance Sheet Date and Thereafter USD ($)	Jun. 30, 2012 Interest Rate Swap More than Five Years from Balance Sheet Date and Thereafter Currency, Euro USD ($)	Jun. 30, 2012 Interest Rate Swap More than Five Years from Balance Sheet Date and Thereafter Currency, Swiss Franc USD ($)	Jun. 30, 2012 Commodity Forward Purchase Contracts USD ($)	Jun. 30, 2012 Commodity Forward Purchase Contracts Silver Bullion Swap USD ($)	Jun. 30, 2012 Commodity Forward Purchase Contracts Platinum Bullion Swap USD ($)	Jun. 30, 2012 Commodity Forward Purchase Contracts One Year from Balance Sheet Date USD ($)	Jun. 30, 2012 Commodity Forward Purchase Contracts One Year from Balance Sheet Date Silver Bullion Swap USD ($)	Jun. 30, 2012 Commodity Forward Purchase Contracts One Year from Balance Sheet Date Platinum Bullion Swap USD ($)	Jun. 30, 2012 Commodity Forward Purchase Contracts More than One and within Two Years from Balance Sheet Date [Member] USD ($)	Jun. 30, 2012 Commodity Forward Purchase Contracts More than One and within Two Years from Balance Sheet Date [Member] Silver Bullion Swap USD ($)	Jun. 30, 2012 Commodity Forward Purchase Contracts More than One and within Two Years from Balance Sheet Date [Member] Platinum Bullion Swap USD ($)	Jun. 30, 2012 More than One and within Two Years from Balance Sheet Date [Member] Foreign Exchange Forward Derivatives Sold Currency, Australian Dollar USD ($)	Jun. 30, 2012 More than One and within Two Years from Balance Sheet Date [Member] Foreign Exchange Forward Derivatives Sold Currency, Canadian Dollar USD ($)	Jun. 30, 2012 More than One and within Two Years from Balance Sheet Date [Member] Foreign Exchange Forward Derivatives Sold Currency, Euro USD ($)	Jun. 30, 2012 More than One and within Two Years from Balance Sheet Date [Member] Foreign Exchange Forward Derivatives Sold Currency, Japanese Yen USD ($)	Jun. 30, 2012 More than One and within Two Years from Balance Sheet Date [Member] Foreign Exchange Forward Derivatives Sold Currency, Mexican Pesos USD ($)	Jun. 30, 2012 More than One and within Two Years from Balance Sheet Date [Member] Foreign Exchange Forward Derivatives Sold Currency, Polish Zlotys USD ($)	Jun. 30, 2012 More than One and within Two Years from Balance Sheet Date [Member] Foreign Exchange Forward Derivatives Sold Currency, Singapore Dollar USD ($)	Jun. 30, 2012 More than One and within Two Years from Balance Sheet Date [Member] Foreign Exchange Forward Derivatives Sold Currency, South Korean Won USD ($)	Jun. 30, 2012 More than One and within Two Years from Balance Sheet Date [Member] Foreign Exchange Forward Derivatives Sold Currency, Swiss Franc USD ($)	Jun. 30, 2012 More than One and within Two Years from Balance Sheet Date [Member] Foreign Exchange Forward Derivatives Sold Currency, Taiwanese Dollars USD ($)	Jun. 30, 2012 More than One and within Two Years from Balance Sheet Date [Member] Foreign Exchange Forward Derivative Purchased Currency, British Pound Sterling USD ($)	Jun. 30, 2012 More than One and within Two Years from Balance Sheet Date [Member] Foreign Exchange Forward Derivative Purchased Currency, Danish Krone USD ($)	Jun. 30, 2012 More than One and within Two Years from Balance Sheet Date [Member] Foreign Exchange Forward Derivative Purchased Currency, Norwegian Kroner USD ($)	Jun. 30, 2012 More than One and within Two Years from Balance Sheet Date [Member] Foreign Exchange Forward Derivative Purchased Currency, Swedish Kronor USD ($)	Jun. 30, 2012 More than Two and within Three Years from Balance Sheet Date [Member] Foreign Exchange Forward USD ($)	Jun. 30, 2012 Current year Foreign Exchange Forward USD ($)	Jun. 30, 2012 Current year Foreign Exchange Forward Derivatives Sold Currency, Australian Dollar USD ($)	Jun. 30, 2012 Current year Foreign Exchange Forward Derivatives Sold Currency, Canadian Dollar USD ($)	Jun. 30, 2012 Current year Foreign Exchange Forward Derivatives Sold Currency, Euro USD ($)	Jun. 30, 2012 Current year Foreign Exchange Forward Derivatives Sold Currency, Japanese Yen USD ($)	Jun. 30, 2012 Current year Foreign Exchange Forward Derivatives Sold Currency, Mexican Pesos USD ($)	Jun. 30, 2012 Current year Foreign Exchange Forward Derivatives Sold Currency, Polish Zlotys USD ($)	Jun. 30, 2012 Current year Foreign Exchange Forward Derivatives Sold Currency, Singapore Dollar USD ($)	Jun. 30, 2012 Current year Foreign Exchange Forward Derivatives Sold Currency, South Korean Won USD ($)	Jun. 30, 2012 Current year Foreign Exchange Forward Derivatives Sold Currency, Swiss Franc USD ($)	Jun. 30, 2012 Current year Foreign Exchange Forward Derivatives Sold Currency, Taiwanese Dollars USD ($)	Jun. 30, 2012 Current year Foreign Exchange Forward Derivative Purchased Currency, British Pound Sterling USD ($)	Jun. 30, 2012 Current year Foreign Exchange Forward Derivative Purchased Currency, Danish Krone USD ($)	Jun. 30, 2012 Current year Foreign Exchange Forward Derivative Purchased Currency, Norwegian Kroner USD ($)	Jun. 30, 2012 Current year Foreign Exchange Forward Derivative Purchased Currency, Swedish Kronor USD ($)	Jun. 30, 2012 One Year from Balance Sheet Date Foreign Exchange Forward USD ($)	Jun. 30, 2012 One Year from Balance Sheet Date Foreign Exchange Forward Derivatives Sold Currency, Australian Dollar USD ($)	Jun. 30, 2012 One Year from Balance Sheet Date Foreign Exchange Forward Derivatives Sold Currency, Canadian Dollar USD ($)	Jun. 30, 2012 One Year from Balance Sheet Date Foreign Exchange Forward Derivatives Sold Currency, Euro USD ($)	Jun. 30, 2012 One Year from Balance Sheet Date Foreign Exchange Forward Derivatives Sold Currency, Japanese Yen USD ($)	Jun. 30, 2012 One Year from Balance Sheet Date Foreign Exchange Forward Derivatives Sold Currency, Mexican Pesos USD ($)	Jun. 30, 2012 One Year from Balance Sheet Date Foreign Exchange Forward Derivatives Sold Currency, Polish Zlotys USD ($)	Jun. 30, 2012 One Year from Balance Sheet Date Foreign Exchange Forward Derivatives Sold Currency, Singapore Dollar USD ($)	Jun. 30, 2012 One Year from Balance Sheet Date Foreign Exchange Forward Derivatives Sold Currency, South Korean Won USD ($)	Jun. 30, 2012 One Year from Balance Sheet Date Foreign Exchange Forward Derivatives Sold Currency, Swiss Franc USD ($)	Jun. 30, 2012 One Year from Balance Sheet Date Foreign Exchange Forward Derivatives Sold Currency, Taiwanese Dollars USD ($)	Jun. 30, 2012 One Year from Balance Sheet Date Foreign Exchange Forward Derivative Purchased Currency, British Pound Sterling USD ($)	Jun. 30, 2012 One Year from Balance Sheet Date Foreign Exchange Forward Derivative Purchased Currency, Danish Krone USD ($)	Jun. 30, 2012 One Year from Balance Sheet Date Foreign Exchange Forward Derivative Purchased Currency, Norwegian Kroner USD ($)	Jun. 30, 2012 One Year from Balance Sheet Date Foreign Exchange Forward Derivative Purchased Currency, Swedish Kronor USD ($)	Jun. 30, 2012 Foreign Exchange Contract [Member] Cash Flow Hedging AUD	Jun. 30, 2012 Foreign Exchange Contract [Member] Cash Flow Hedging CAD	Jun. 30, 2012 Foreign Exchange Contract [Member] Cash Flow Hedging CHF	Jun. 30, 2012 Foreign Exchange Contract [Member] Cash Flow Hedging DKK	Jun. 30, 2012 Foreign Exchange Contract [Member] Cash Flow Hedging EUR (€)	Jun. 30, 2012 Foreign Exchange Contract [Member] Cash Flow Hedging GBP (£)	Jun. 30, 2012 Foreign Exchange Contract [Member] Cash Flow Hedging JPY (¥)	Jun. 30, 2012 Foreign Exchange Contract [Member] Cash Flow Hedging KRW	Jun. 30, 2012 Foreign Exchange Contract [Member] Cash Flow Hedging MXN	Jun. 30, 2012 Foreign Exchange Contract [Member] Cash Flow Hedging NOK	Jun. 30, 2012 Foreign Exchange Contract [Member] Cash Flow Hedging PLN	Jun. 30, 2012 Foreign Exchange Contract [Member] Cash Flow Hedging SEK	Jun. 30, 2012 Foreign Exchange Contract [Member] Cash Flow Hedging SGD	Jun. 30, 2012 Foreign Exchange Contract [Member] Cash Flow Hedging TWD
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Notional Amount																					$ 598,000	$ 598,000	$ 1,195,000	$ 1,195,000	$ 0	$ 0	$ 157,967,000	$ 914,000	$ 157,053,000	$ 914,000	$ 914,000	$ 70,539,000	$ 2,057,000	$ 68,482,000				$ 2,303,000	$ 1,526,000	$ 777,000	$ 884,000	$ 563,000	$ 321,000	$ 139,000	$ 1,212,000	$ 5,835,000	$ (506,000)	$ 0	$ 0	$ 0	$ 0	$ 860,000	$ 0	$ 0	$ 0	$ 0	$ (3,270,000)	$ 4,270,000	$ (1,340,000)	$ 8,061,000	$ 21,955,000	$ 63,919,000	$ 4,471,000	$ 12,384,000	$ 1,259,000	$ 2,065,000	$ 4,994,000	$ (33,566,000)	$ 1,092,000	$ (11,326,000)	$ (3,773,000)	$ (2,893,000)	$ (69,982,000)	$ 80,012,000	$ 3,884,000	$ 20,015,000	$ 112,840,000	$ (8,569,000)	$ 0	$ 0	$ 0	$ 0	$ 19,233,000	$ 0	$ (193,000)	$ 0	$ 0	$ (67,198,000)
Fair Value Net Asset (Liability)	(74,540,000)	7,797,000	(698,000)	862,000	4,080,000	(343,000)	(502,000)	(49,000)	20,000	(35,000)	1,229,000	(4,000)	167,000	(24,000)	14,000	3,080,000	(1,489,000)	(550,000)	376,000	(1,315,000)															(109,000)	(84,000)	(25,000)
Forward sale																																																																																									12,300,000	43,600,000	14,000,000		143,400,000			5,700,000,000	165,200,000		4,200,000		2,600,000	32,500,000
Forward purchase																																																																																												22,200,000		£ 7,400,000	¥ 400,000,000			17,200,000		1,000,000,000

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FAIR VALUE MEASUREMENT (Tables)

6 Months Ended

Jun. 30, 2012

Notes to Financial Statements [Abstract]

Financial Assets and Liabilities that are Recorded at Fair Value and Classified Based on the Lowest Level of Input

The following tables set forth by level within the fair value hierarchy the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis at June 30, 2012 and December 31, 2011, which are classified as “Cash and cash equivalents,” “Prepaid expenses and other current assets,” “Other noncurrent assets, net,” “Accrued liabilities,” and “Other noncurrent liabilities” on the consolidated balance sheets.  Financial assets and liabilities that are recorded at fair value as of the balance sheet date are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.

	June 30, 2012
(in thousands)	Total		Level 1		Level 2		Level 3
Assets
Interest rate swaps	$	5,661	$	—	$	5,661	$	—
Cross currency interest rate swaps	31,494		—		31,494		—
Foreign exchange forward contracts	10,569		—		10,569		—
Corporate convertible bonds	68,396		—		—		68,396
Total assets	$	116,120	$	—	$	47,724	$	68,396
Liabilities
Interest rate swaps	$	2,318	$	—	$	2,318	$	—
Commodity forward purchase contracts	109		—		109		—
Cross currency interest rate swaps	185,723		—		185,723		—
Foreign exchange forward contracts	2,772		—		2,772		—
Long term debt	154,895		—		154,895		—
Contingent considerations on acquisitions	823		—		—		823
DIO equity option contracts	580		—		—		580
Total liabilities	$	347,220	$	—	$	345,817	$	1,403

	December 31, 2011
(in thousands)	Total		Level 1		Level 2		Level 3
Assets
Money market funds	$	10,516	$	10,516	$	—	$	—
Interest rate swaps	5,699		—		5,699		—
Commodity forward purchase contracts	15		—		15		—
Cross currency interest rate swaps	19,838		—		19,838		—
Foreign exchange forward contracts	8,303		—		8,303		—
Corporate convertible bonds	47,850		—		—		47,850
Total assets	$	92,221	$	10,516	$	33,855	$	47,850
Liabilities
Interest rate swaps	$	1,631	$	—	$	1,631	$	—
Commodity forward purchase contracts	259		—		259		—
Cross currency interest rate swaps	199,454		—		199,454		—
Foreign exchange forward contracts	3,898		—		3,898		—
Long term debt	154,512		—		154,512		—
Contingent considerations on acquisitions	2,917		—		—		2,917
DIO equity option contracts	419		—		—		419
Total liabilities	$	363,090	$	—	$	359,754	$	3,336

Reconciliation of the Company's Assets Measured at Fair Value on a Recurring Basis Using Unobservable Inputs (Level 3):

The following table presents a reconciliation of the Company’s level 3 holdings measured at fair value on a recurring basis using unobservable inputs:

(in thousands)	Corporate Convertible Bonds			DIO Equity Options Contracts			Contingent Considerations
Balance at December 31, 2011	$	47,850		$	(424	)	$	2,917
Payments, gross	—			—			(1,781		)
Adjustments:
Reported in selling, general and administrative expense	—			—			(326		)
Unrealized gain:
Reported in AOCI	22,023			—			—
Unrealized loss:
Reported in other expense (income), net	—			(178		)	—
Effects of exchange rate changes	(1,477		)	14			13
Balance at June 30, 2012	$	68,396		$	(588	)	$	823

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SEGMENT INFORMATION Net Sales, Excluding Precious Metal Content (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended				6 Months Ended
	Jun. 30, 2012		Jun. 30, 2011		Jun. 30, 2012		Jun. 30, 2011
Statement [Line Items]
Net Sales, excluding precious metal content	$ 698,480		$ 563,989		$ 1,364,106		$ 1,090,995
Precious metal content of sales	64,514		45,454		115,301		88,951
Net Sales, including precious metal content	762,994		609,443		1,479,407		1,179,946
Dental Consumable and Laboratrory Businesses [Member]
Statement [Line Items]
Net Sales, excluding precious metal content	206,862		214,181		414,346		415,289
Net Sales, including precious metal content	258,786		246,062		505,717		477,182
Orthodontics/Canada/Mexico/Japan [Member]
Statement [Line Items]
Net Sales, excluding precious metal content	77,037		77,433		142,878		157,908
Net Sales, including precious metal content	86,317		85,728		159,219		174,174
Select Distribution Businesses [Member]
Statement [Line Items]
Net Sales, excluding precious metal content	77,130		80,490		148,783		152,530
Net Sales, including precious metal content	78,433		82,892		151,684		157,058
Implants/Endodontics/Healthcare/Pacific Rim [Member]
Statement [Line Items]
Net Sales, excluding precious metal content	340,305		193,523		662,268		367,949
Net Sales, including precious metal content	342,312		196,399		666,956		374,213
All Other
Statement [Line Items]
Net Sales, excluding precious metal content	(2,854)	[1]	(1,638)	[1]	(4,169)	[1]	(2,681)	[1]
Net Sales, including precious metal content	$ (2,854)	[1]	$ (1,638)	[1]	$ (4,169)	[1]	$ (2,681)

[1] (a) Includes amounts recorded at Corporate headquarters

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FINANCING ARRANGEMENTS

6 Months Ended

Jun. 30, 2012

Notes to Financial Statements [Abstract]

FINANCING ARRANGEMENTS

FINANCING ARRANGEMENTS

The Company estimated the fair value and carrying value of its total long-term debt, including the current portion, was $1,512.8 million and $1,482.6 million, respectively, at June 30, 2012. At December 31, 2011, the fair value and the carrying value of its total long-term debt, including the current portion, were $1,512.5 million and $1,491.4 million, respectively. The terms on existing variable rate debt, including commercial paper, approximate current market conditions; therefore, the fair values of these instruments approximate their carrying values. The Company has assigned the long-term debt a Level 2 fair value measurement, as more fully described in Note 11, Fair Value Measurements.

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COMPREHENSIVE INCOME Comprehensive Income (Tables)

6 Months Ended

Jun. 30, 2012

COMPREHENSIVE INCOME [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The balances included in AOCI, net of tax, in the consolidated balance sheets are as follows:

(in thousands)	June 30, 2012			December 31, 2011
Foreign currency translation adjustments	$	(83,489	)	$	(39,078	)
Net loss on derivative financial instruments	(102,433		)	(117,390		)
Net unrealized holding gains (losses) on available-for-sale securities	14,530			(516		)
Pension liability adjustments	(32,320		)	(33,986		)
	$	(203,712	)	$	(190,970	)

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SEGMENT INFORMATION Additional Information (Detail) (Dental Products)	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Dental Products
Segment Reporting Information [Line Items]
Percentage of sales, professional dental products	89.00%	97.00%	89.00%	97.00%

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COMPREHENSIVE INCOME Comprehensive Income - Additional Information (Details) (USD $) In Millions, unless otherwise specified			3 Months Ended		6 Months Ended		3 Months Ended		6 Months Ended
	Jun. 30, 2012	Dec. 31, 2011	Jun. 30, 2012 Foreign Currency Translation Adjustment Gain (Loss)	Jun. 30, 2011 Foreign Currency Translation Adjustment Gain (Loss)	Jun. 30, 2012 Foreign Currency Translation Adjustment Gain (Loss)	Jun. 30, 2011 Foreign Currency Translation Adjustment Gain (Loss)	Jun. 30, 2012 Net Investment Hedging [Member]	Jun. 30, 2011 Net Investment Hedging [Member]	Jun. 30, 2012 Net Investment Hedging [Member]	Jun. 30, 2011 Net Investment Hedging [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
OCI - Foreign currency translation adjustments, gains (losses)			$ 175.3	$ 52.4	$ 48.5	$ 142.1	$ 1.3	$ 9.7	$ 4.1	$ 10.7
AOCI - Foreign currency translation adjustments, gains	47.8	96.3
AOCI - Foreign currency translation adjustments, losses	$ 129.4	$ 133.5

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CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Jun. 30, 2012	Dec. 31, 2011
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	250,000	250,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	162,800,000	162,800,000
Treasury stock, shares	21,000,000	21,100,000

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STOCK COMPENSATION

6 Months Ended

Jun. 30, 2012

STOCK COMPENSATION [Abstract]

Stock Compensation

STOCK COMPENSATION

The following table represents total stock based compensation expense for non-qualified stock options, restricted stock units (“RSU”) and the tax related benefit for the three and six months ended June 30, 2012 and 2011:

	Three Months Ended				Six Months Ended
(in thousands)	2012		2011		2012		2011
Stock option expense	$	3,298	$	3,035	$	5,679	$	5,373
RSU expense	3,094		2,296		4,640		4,347
Total stock based compensation expense	$	6,392	$	5,331	$	10,319	$	9,720
Total related tax benefit	$	1,916	$	1,620	$	2,935	$	2,872

At June 30, 2012, the remaining unamortized compensation cost related to non-qualified stock options is $19.1 million, which will be expensed over the weighted average remaining vesting period of the options, or 1.8 years. At June 30, 2012, the unamortized compensation cost related to RSU is $20.4 million, which will be expensed over the remaining restricted period of the RSU, or 1.7 years.

The following table reflects the non-qualified stock option transactions from December 31, 2011 through June 30, 2012:

	Outstanding						Exercisable
(in thousands, except per share data)	Shares		Weighted Average Exercise Price		Aggregate Intrinsic Value		Shares	Weighted Average Exercise Price		Aggregate Intrinsic Value
December 31, 2011	10,148		$	31.23	$	51,402	8,049	$	30.06	$	50,365
Granted	1,307		38.72
Exercised	(862	)	23.29
Cancelled	(25	)	41.15
Forfeited	(38	)	36.15
June 30, 2012	10,530		$	32.77	$	61,728	7,720	$	31.20	$	58,418

At June 30, 2012 the weighted average remaining contractual term of all outstanding options is 6.0 years and the weighted average remaining contractual term of exercisable options is 5.0 years.

The following table summarizes the unvested RSU transactions from December 31, 2011 through June 30, 2012:

(in thousands, except per share data)	Shares		Weighted Average Grant Date Fair Value
December 31, 2011	897		$	32.50
Granted	413		38.71
Vested	(244	)	26.28
Forfeited	(25	)	35.67
June 30, 2012	1,041		$	36.34

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BENEFIT PLANS Information Related to the Contributions to the Company's Benefit Plans (Details) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2012
Pension Plans, Defined Benefit [Member]
Schedule of Employee Benefit Plans [Line Items]
Actual contributions through June 30, 2012	$ 6,386
Projected for the remainder of the year	6,095
Total for year	12,481
Other Postretirement Benefit Plans, Defined Benefit [Member]
Schedule of Employee Benefit Plans [Line Items]
Actual contributions through June 30, 2012	416
Projected for the remainder of the year	562
Total for year	$ 978

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FINANCIAL INSTRUMENTS AND DERIVATIVES Impact of the Company's Hedges of Net Investments (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011	Dec. 31, 2011
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax	$ (83,489)		$ (83,489)		$ (39,078)
Gain (Loss) Recognized in Income	449	(1,140)	15	(1,922)
Gain (Loss) in AOCI	73,784	(70,023)	23,415	(112,703)
Net Investment Hedging [Member] | Interest Income
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Gain (Loss) Recognized in Income	861	170	1,633	369
Net Investment Hedging [Member] | Interest Expense
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Gain (Loss) Recognized in Income	(412)	(1,310)	(1,618)	(2,291)
Net Investment Hedging [Member] | Cross Currency Interest Rate Swaps
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Gain (Loss) in AOCI	73,784	(70,023)	23,415	(112,703)
International Subsidiaries Member
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax	$ (173,800)		$ (173,800)		$ (143,700)

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EARNINGS PER COMMON SHARE (Tables)

6 Months Ended

Jun. 30, 2012

Notes to Financial Statements [Abstract]

Computation of Basic and Diluted Earnings Per Common Share

The following table sets forth the computation of basic and diluted earnings per common share for the three and six months ended June 30, 2012 and 2011:

	Three Months Ended				Six Months Ended
Basic Earnings Per Common Share Computation
(in thousands, except per share amounts)	2012		2011		2012		2011
Net income attributable to DENTSPLY International	$	80,764	$	74,236	$	134,049	$	143,320
Common shares outstanding	141,737		141,052		141,729		141,331
Earnings per common share - basic	$	0.57	$	0.53	$	0.95	$	1.01
Diluted Earnings Per Common Share Computation
(in thousands, except per share amounts)
Net income attributable to DENTSPLY International	$	80,764	$	74,236	$	134,049	$	143,320
Common shares outstanding	141,737		141,052		141,729		141,331
Incremental shares from assumed exercise of dilutive options from stock-based compensation awards	2,126		2,321		2,179		2,363
Total shares	143,863		143,373		143,908		143,694
Earnings per common share - diluted	$	0.56	$	0.52	$	0.93	$	1.00

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FAIR VALUE MEASUREMENT Additional Information (Detail) (USD $)	6 Months Ended													6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012 Corporate Bond Securities	Jun. 30, 2012 Fixed rate senior notes $450 million due August 2021	Jun. 30, 2012 Estimate of Fair Value, Fair Value Disclosure	Dec. 31, 2011 Estimate of Fair Value, Fair Value Disclosure	Jun. 30, 2012 Carrying (Reported) Amount, Fair Value Disclosure	Dec. 31, 2011 Carrying (Reported) Amount, Fair Value Disclosure	Jun. 30, 2012 Tranche C Unsecured Senior Notes	Jun. 30, 2012 Tranche B Unsecured Senior Notes	Jun. 30, 2012 Tranche A Unsecured Senior Notes	Jun. 30, 2012 Private Placement Notes U.S. Dollar Denominated Expiring March 2016	Jun. 30, 2012 Fixed Rate Senior Notes U.S. Dollar Denominated Due August 2016	Jun. 30, 2012 Contingent Considerations On Acquisitions [Member]
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate			40.00%
Long-term debt					$ 1,524,400,000	$ 1,512,500,000	$ 1,483,900,000	$ 1,491,400,000
Senior Notes									450,000,000	300,000,000	250,000,000
Debt, fixed rate				4.10%								4.10%	2.80%
Discount rate			15.00%
Probability-weighted average payout discount using market rate	5.00%
Cash Paid For Contingent Consideration	$ 1,781,000	$ 1,780,000												$ (1,781,000)

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STOCK COMPENSATION Total Stock Based Compensation Expense and the Tax Related Benefit (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
STOCK COMPENSATION [Abstract]
Stock option expense	$ 3,298	$ 3,035	$ 5,679	$ 5,373
RSU expense	3,094	2,296	4,640	4,347
Total stock based compensation expense	6,392	5,331	10,319	9,720
Total related tax benefit	$ 1,916	$ 1,620	$ 2,935	$ 2,872

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INCOME TAXES

6 Months Ended

Jun. 30, 2012

Notes to Financial Statements [Abstract]

INCOME TAXES

INCOME TAXES

Uncertainties in Income Taxes

The Company recognizes in the consolidated financial statements, the impact of a tax position, if that position is more likely than not of being sustained on audit, based on the technical merits of the position.

It is reasonably possible that certain amounts of unrecognized tax benefits will significantly increase or decrease within twelve months of the reporting date of the Company’s consolidated financial statements. Final settlement and resolution of outstanding tax matters in various jurisdictions during the next twelve months could include unrecognized tax benefits of approximately $1.3 million.  In addition, expiration of statutes of limitation in various jurisdictions during the next twelve months could include unrecognized tax benefits of approximately $0.3 million.