SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 30, 2021

Accounting Policies [Abstract]

Schedule of Error Corrections and Prior Period Adjustments

The following tables present the effect of correcting these accounting errors on the Company’s previously issued financial statements:

CONSOLIDATED STATEMENTS OF OPERATIONS
	Three Months Ended September 30, 2021						Three Months Ended September 30, 2020
(in millions, except per share amounts)	As Previously Issued		Adjustment		As Restated		As Previously Issued		Adjustment		As Revised
Net sales	$	1,069	$	(29)	$	1,040	$	895	$	(12)	$	883
Cost of products sold	478		(7)		471		453		(2)		451
Gross profit	591		(22)		569		442		(10)		432
Selling, general, and administrative expenses	394		1		395		315		(2)		313
Research and development expenses	35		4		39		27		2		29
Operating income	159		(27)		132		82		(10)		72
Interest expense, net	13		1		14		14		—		14
Other expense (income), net	8		(3)		5		1		—		1
Income before income taxes	138		(25)		113		67		(10)		57
Provision for income taxes	35		(6)		29		13		(4)		9
Net income	103		(19)		84		54		(6)		48
Net income attributable to Dentsply Sirona	$	103	$	(19)	$	84	$	53	$	(6)	$	47
Net income per common share attributable to Dentsply Sirona:
Basic	$	0.47	$	(0.08)	$	0.39	$	0.25	$	(0.03)	$	0.22
Diluted	$	0.47	$	(0.09)	$	0.38	$	0.25	$	(0.03)	$	0.22

CONSOLIDATED STATEMENTS OF OPERATIONS
	Nine Months Ended September 30, 2021						Nine Months Ended September 30, 2020
(in millions, except per share amounts)	As Previously Issued		Adjustment		As Restated		As Previously Issued		Adjustment		As Revised
Net sales	$	3,163	$	(35)	$	3,128	$	2,260	$	3	$	2,263
Cost of products sold	1,395		(10)		1,385		1,174		—		1,174
Gross profit	1,768		(25)		1,743		1,086		3		1,089
Selling, general and administrative expenses	1,177		(3)		1,174		935		(6)		929
Research and development expenses	112		10		122		79		6		85
Operating income (loss)	468		(32)		436		(147)		3		(144)
Interest expense, net	43		—		43		32		(1)		31
Income (loss) before income taxes	421		(32)		389		(183)		4		(179)
Provision (benefit) for income taxes	102		(5)		97		(1)		—		(1)
Net income (loss)	319		(27)		292		(182)		4		(178)
Net income (loss) attributable to Dentsply Sirona	$	319	$	(27)	$	292	$	(182)	$	4	$	(178)
Net income (loss) per common share attributable to Dentsply Sirona:
Basic	$	1.46	$	(0.12)	$	1.34	$	(0.83)	$	0.02	$	(0.81)
Diluted	$	1.45	$	(0.13)	$	1.32	$	(0.83)	$	0.02	$	(0.81)

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
	Three Months Ended September 30, 2021						Three Months Ended September 30, 2020
(in millions)	As Previously Issued		Adjustment		As Restated		As Previously Issued		Adjustment		As Revised
Net income	$	103	$	(19)	$	84	$	54	$	(6)	$	48
Total comprehensive income	47		(19)		28		121		(6)		115
Comprehensive income attributable to Dentsply Sirona	$	47	$	(19)	$	28	$	121	$	(6)	$	115

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
	Nine Months Ended September 30, 2021						Nine Months Ended September 30, 2020
(in millions)	As Previously Issued		Adjustment		As Restated		As Previously Issued		Adjustment		As Revised
Net income (loss)	$	319	$	(27)	$	292	$	(182)	$	4	$	(178)
Total comprehensive income (loss)	216		(27)		189		(159)		4		(155)
Comprehensive income (loss) attributable to Dentsply Sirona	$	216	$	(27)	$	189	$	(159)	$	4	$	(155)

CONSOLIDATED BALANCE SHEETS
	September 30, 2021						December 31, 2020
(in millions)	As Previously Issued		Adjustment		As Restated		As Previously Issued		Adjustment		As Revised
Accounts and notes receivable-trade, net	$	748	$	(16)	$	732	$	673	$	(6)	$	667
Inventories, net	532		16		548		466		10		476
Prepaid expenses and other current assets	243		1		244		214		3		217
Total Current Assets	1,804		1		1,805		1,791		7		1,798
Other noncurrent assets	128		—		128		94		1		95
Total Assets	9,288		1		9,289		9,342		8		9,350
Accounts payable	276		(5)		271		305		(3)		302
Accrued liabilities	641		84		725		653		59		712
Income taxes payable	58		(6)		52		60		(1)		59
Total Current Liabilities	1,126		73		1,199		1,317		55		1,372
Deferred income taxes	413		(12)		401		393		(12)		381
Other noncurrent liabilities	560		2		562		554		—		554
Total Liabilities	4,163		63		4,226		4,372		43		4,415
Retained earnings	1,481		(62)		1,419		1,233		(35)		1,198
Total Dentsply Sirona Equity	5,122		(62)		5,060		4,967		(35)		4,932
Total Equity	5,125		(62)		5,063		4,970		(35)		4,935
Total Liabilities and Equity	9,288		1		9,289		9,342		8		9,350

CONSOLIDATED STATEMENT OF CASH FLOWS
	Nine Months Ended September 30, 2021						Nine Months Ended September 30, 2020
(in millions)	As Previously Issued		Adjustment		As Restated		As Previously Issued		Adjustment		As Revised
Cash flows from operating activities:
Net income (loss)	$	319	$	(27)	$	292	$	(182)	$	4	$	(178)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Other non-cash expense (income)	12		1		13		9		(2)		7
Changes in operating assets and liabilities, net of acquisitions:
Accounts and notes receivable-trade, net	(98)		9		(89)		149		1		150
Inventories, net	(82)		(6)		(88)		74		(1)		73
Prepaid expenses and other current assets, net	(27)		3		(24)		50		—		50
Accounts payable	(39)		(6)		(45)		(65)		3		(62)
Accrued liabilities	41		29		70		(73)		7		(66)
Income taxes	11		(5)		6		(10)		1		(9)
Other noncurrent liabilities	20		2		22		(14)		—		(14)
Net cash provided by operating activities	435		—		435		372		13		385
Cash flows from financing activities:
Other financing activities, net	(11)		—		(11)		(4)		(13)		(17)
Net cash (used in) provided by financing activities	(257)		—		(257)		504		(13)		491