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SIGNIFICANT ACCOUNTING POLICIES (Tables)
 6 Months Ended
Jun. 30, 2018
Accounting Policies [Abstract]  
Schedule of Adjustments to the Financial Statement Line Items Impact by this Accounting Update
Upon adoption, the Company made the following reclassification:
(in millions)
 
 
Consolidated Balance Sheets Item
 
December 31, 2017 As Reported Balance
 
Adoption of ASU 2016-16 Increase/(Decrease)
 
January 1, 2018 Revised Balance
 
 
 
 
 
 
 
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
Prepaid expenses and other current assets, net
 
$
312.6

 
$
(5.6
)
 
$
307.0

Other noncurrent assets, net
 
156.1

 
(73.1
)
 
83.0

 
 
 
 
 
 
 
Liabilities and Equity
 
 
 
 
 
 
 
 
 
 
 
 
 
Deferred income taxes
 
718.0

 
(76.0
)
 
642.0

Retained earnings
 
2,316.2

 
(2.7
)
 
2,313.5

The impact of adopting this standard, by financial statement line item, is reflected below:
(in millions)
 
 
 
 
 
 
Consolidated Statements of Operations Item
 
Three Months Ended June 30, 2017
As Reported
 
Adoption of 2017-07 Increase/(Decrease)
 
Three Months Ended
June 30, 2017
Revised
 
 
 
 
 
 
 
Cost of products sold
 
$
448.5

 
$
(0.3
)
 
$
448.2

Gross profit
 
544.2

 
0.3

 
544.5

Selling, general and administrative expense
 
417.6

 
(1.9
)
 
415.7

Operating loss
 
(1,048.0
)
 
2.2

 
(1,045.8
)
Other expense (income), net
 
7.8

 
2.2

 
10.0



(in millions)
 
 
 
 
 
 
Consolidated Statements of Operations Item
 
Six Months Ended
June 30, 2017
As Reported
 
Adoption of 2017-07 Increase/(Decrease)
 
Six Months Ended
June 30, 2017
Revised
 
 
 
 
 
 
 
Cost of products sold
 
$
857.0

 
$
(0.8
)
 
$
856.2

Gross profit
 
1,036.2

 
0.8

 
1,037.0

Selling, general and administrative expense
 
822.3

 
(3.6
)
 
818.7

Operating loss
 
(963.8
)
 
4.4

 
(959.4
)
Other expense (income), net
 
6.8

 
4.4

 
11.2

The cumulative effect of the changes made on the Consolidated Balance Sheets at December 31, 2017 for the adoption of ASC 606, is as follows:
(in millions)
 
 
 
 
 
 
Consolidated Balance Sheets Item
 
December 31, 2017 As Reported Balance
 
Adoption of ASC 606
 
January 1, 2018 Revised Balance
 
 
 
 
 
 
 
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
Accounts and notes receivable-trade, net
 
$
746.2

 
$
0.2

 
$
746.4

Inventory, net
 
623.1

 
(0.3
)
 
622.8

Prepaid expense and other current assets, net
 
312.6

 
1.9

 
314.5

 
 
 
 
 
 
 
Liabilities and Equity
 
 
 
 
 
 
 
 
 
 
 
 
 
Accrued liabilities
 
585.8

 
9.9

 
595.7

Income taxes payable
 
54.2

 
(2.1
)
 
52.1

Retained earnings
 
2,316.2

 
(6.0
)
 
2,310.2



The impact of adopting the new revenue recognition standard on the Company’s Consolidated Statements of Operations and Consolidated Balance Sheets is as follows:
(in millions)
 
Three Months Ended June 30, 2018
 
Six Months Ended June 30, 2018
Consolidated Statements of Operations Item
 
As Reported Balance
 
Balances Without Adoption of ASC 606
 
Effect of Change Increase/(Decrease)
 
As Reported Balance
 
Balances Without Adoption of ASC 606
 
Effect of Change Increase/(Decrease)
 
 
 
 
 
 
 
 
 
 
 
 
 
Net sales
 
$
1,042.1

 
$
1,044.8

 
$
(2.7
)
 
$
1,998.2

 
$
1,998.8

 
$
(0.6
)
Cost of products sold
 
489.3

 
491.4

 
(2.1
)
 
931.3

 
930.3

 
1.0

Selling, general and administrative expenses
 
432.2

 
432.3

 
(0.1
)
 
867.4

 
868.1

 
(0.7
)
Provision (benefit) for income taxes
 
(41.3
)
 
(41.2
)
 
(0.1
)
 
(27.6
)
 
(27.4
)
 
(0.2
)
Net loss attributable to Dentsply Sirona
 
(1,122.0
)
 
(1,121.6
)
 
(0.4
)
 
(1,040.8
)
 
(1,040.1
)
 
(0.7
)

(in millions)
 
Balance at June 30, 2018
Consolidated Balance Sheets Item
 
As Reported Balance
 
Balances Without Adoption of ASC 606
 
Effect of Change Increase/(Decrease)
 
 
 
 
 
 
 
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
Accounts and notes receivables-trade, net
 
$
710.3

 
$
710.2

 
$
0.1

Inventories, net
 
666.3

 
666.6

 
(0.3
)
Prepaid expenses and other current assets, net
 
276.5

 
273.4

 
3.1

 
 
 
 
 
 
 
Liabilities and Equity
 
 
 
 
 
 
 
 
 
 
 
 
 
Accrued liabilities
 
575.3

 
563.4

 
11.9

Income taxes payable
 
31.9

 
34.2

 
(2.3
)
Retained earnings
 
1,216.2

 
1,222.9

 
(6.7
)