DENTSPLY SIRONA Inc. Files 2023 Annual Report on Form 10-K

Ticker: XRAY · Form: 10-K · Filed: Feb 29, 2024 · CIK: 818479

Dentsply Sirona Inc. 10-K Filing Summary
FieldDetail
CompanyDentsply Sirona Inc. (XRAY)
Form Type10-K
Filed DateFeb 29, 2024
Risk Levelmedium
Pages14
Reading Time17 min
Sentimentneutral

Sentiment: neutral

Topics: 10-K, DENTSPLY SIRONA, Annual Report, Financials, Dental Industry

Related Tickers: XRAY

TL;DR

<b>DENTSPLY SIRONA Inc. has officially submitted its comprehensive 2023 annual report on Form 10-K.</b>

AI Summary

DENTSPLY SIRONA Inc. (XRAY) filed a Annual Report (10-K) with the SEC on February 29, 2024. DENTSPLY SIRONA Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal business address is located at 13320 Ballantyne Corporate Place, Charlotte, NC 28277-3607. DENTSPLY SIRONA Inc. was formerly known as DENTSPLY INTERNATIONAL INC /DE/ and GENDEX CORP. The filing was made on February 29, 2024.

Why It Matters

For investors and stakeholders tracking DENTSPLY SIRONA Inc., this filing contains several important signals. This 10-K filing provides a detailed overview of DENTSPLY SIRONA's financial performance, business operations, and risk factors for the fiscal year 2023, which is crucial for investors to assess the company's health and future prospects. The report includes historical financial data and disclosures that allow for year-over-year comparisons, enabling stakeholders to track trends and evaluate the company's strategic execution and market position.

Risk Assessment

Risk Level: medium — DENTSPLY SIRONA Inc. shows moderate risk based on this filing. The company's financial health and operational performance are subject to various market and regulatory factors inherent in the dental equipment and supplies industry, as detailed in their 10-K filing.

Analyst Insight

Investors should review the detailed financial statements and risk factors within the 10-K to understand DENTSPLY SIRONA's performance and potential challenges in the dental industry.

Key Numbers

  • 2023-12-31 — Fiscal Year End (Period covered by the 10-K filing)
  • 2024-02-29 — Filing Date (Date the 10-K was filed)
  • 391434669 — IRS Number (Company's IRS identification number)
  • 3843 — SIC Code (Standard Industrial Classification for Dental Equipment & Supplies)

Key Players & Entities

  • DENTSPLY SIRONA Inc. (company) — Filer of the 10-K report
  • DENTSPLY INTERNATIONAL INC /DE/ (company) — Former name of DENTSPLY SIRONA Inc.
  • GENDEX CORP (company) — Former name of DENTSPLY SIRONA Inc.
  • Charlotte, NC (location) — Location of the company's business address

FAQ

When did DENTSPLY SIRONA Inc. file this 10-K?

DENTSPLY SIRONA Inc. filed this Annual Report (10-K) with the SEC on February 29, 2024.

What is a 10-K filing?

A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by DENTSPLY SIRONA Inc. (XRAY).

Where can I read the original 10-K filing from DENTSPLY SIRONA Inc.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by DENTSPLY SIRONA Inc..

What are the key takeaways from DENTSPLY SIRONA Inc.'s 10-K?

DENTSPLY SIRONA Inc. filed this 10-K on February 29, 2024. Key takeaways: DENTSPLY SIRONA Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023.. The filing covers the period from January 1, 2023, to December 31, 2023.. The company's principal business address is located at 13320 Ballantyne Corporate Place, Charlotte, NC 28277-3607..

Is DENTSPLY SIRONA Inc. a risky investment based on this filing?

Based on this 10-K, DENTSPLY SIRONA Inc. presents a moderate-risk profile. The company's financial health and operational performance are subject to various market and regulatory factors inherent in the dental equipment and supplies industry, as detailed in their 10-K filing.

What should investors do after reading DENTSPLY SIRONA Inc.'s 10-K?

Investors should review the detailed financial statements and risk factors within the 10-K to understand DENTSPLY SIRONA's performance and potential challenges in the dental industry. The overall sentiment from this filing is neutral.

How does DENTSPLY SIRONA Inc. compare to its industry peers?

DENTSPLY SIRONA Inc. operates in the Dental Equipment & Supplies industry, a sector focused on providing tools and materials for dental professionals.

Are there regulatory concerns for DENTSPLY SIRONA Inc.?

As a publicly traded company, DENTSPLY SIRONA Inc. is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the filing of annual reports on Form 10-K.

Industry Context

DENTSPLY SIRONA Inc. operates in the Dental Equipment & Supplies industry, a sector focused on providing tools and materials for dental professionals.

Regulatory Implications

As a publicly traded company, DENTSPLY SIRONA Inc. is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the filing of annual reports on Form 10-K.

What Investors Should Do

  1. Review the full 10-K filing for detailed financial statements and management's discussion and analysis.
  2. Analyze the risk factors section to understand potential challenges and uncertainties facing DENTSPLY SIRONA.
  3. Compare the 2023 financial results with previous years to identify performance trends.

Key Dates

  • 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
  • 2024-02-29: Filing Date — Date the 10-K was officially submitted to the SEC.

Year-Over-Year Comparison

This filing represents the annual report for the fiscal year 2023, providing updated financial and operational information compared to previous filings.

Filing Stats: 4,259 words · 17 min read · ~14 pages · Grade level 18.5 · Accepted 2024-02-29 16:13:37

Filing Documents

Business

Business 3 Item 1A

Risk Factors

Risk Factors 15 Item 1B Unresolved Staff Comments 36 Item 1C Cybersecurity 36 Item 2

Properties

Properties 38 Item 3

Legal Proceedings

Legal Proceedings 39 Item 4 Mine Safety Disclosures 39 PART II Item 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 40 Item 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 42 Item 7A

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 60 Item 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 62 Item 9 Changes In and Disagreements With Accountants on Accounting and Financial Disclosure 133 Item 9A

Controls and Procedures

Controls and Procedures 133 Item 9B Other Information 133 Item 9C Disclosure Regarding Foreign Jurisdiction that Prevent Inspections 133 PART III Item 10 Directors, Executive Officers and Corporate Governance 134 Item 11

Executive Compensation

Executive Compensation 134 Item 12

Security Ownership of Certain Beneficial Owners and Management and Related Stock Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stock Matters 134 Item 13 Certain Relationships and Related Transactions and Director Independence 134 Item 14 Principal Accountant Fees and Services 134 PART IV Item 15 Exhibits and Financial Statement Schedule 135 Item 16 Form 10-K Summary 140

Signatures

Signatures 140 2 PART I

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS Information included in or incorporated by reference in this Form 10-K, and other filings with the U.S. Securities and Exchange Commission (the "SEC") and the Company's press releases or other public statements, contains or may contain forward-looking statements. Please refer to a discussion of our forward-looking statements and associated risks in Item 1 "Business- Forward-Looking Statements and Associated Risks" and Item 1A "Risk Factors" of this Form 10-K. GENERAL Unless otherwise stated herein or the context otherwise indicates, reference throughout this Form 10-K to "Dentsply Sirona," or the "Company," "we," "us" or "our" refers to financial information and transactions of DENTSPLY SIRONA Inc., together with its subsidiaries on a consolidated basis. INDUSTRY AND MARKET DATA Unless indicated otherwise, the information concerning our industry contained in this Form 10-K is based on our general knowledge of and expectations concerning the industry. The Company's market position, market share and industry market size are based on data from various industry analyses, our internal research and data, and adjustments and assumptions we believe to be reasonable. The Company has not independently verified data from industry analyses and cannot guarantee their accuracy or completeness. In addition, we believe that data regarding the industry, market size and the Company's market position and market share within the industry provide general guidance but are inherently imprecise. Further, the Company's estimates and assumptions involve risks and uncertainties and are subject to change based on various factors, including those discussed in Item 1A, "Risk Factors" of this Form 10-K. These and other factors could cause results to differ materially from those expressed in the estimates and assumptions.

Business

Item 1. Business Overview DENTSPLY SIRONA Inc. ("Dentsply Sirona" or the "Company") is the world's largest manufacturer of professional dental products and technologies, with a 137-year history of innovation and service to the dental industry, and a vision of improving oral health and continence care globally. Dentsply Sirona develops, manufactures, and markets comprehensive solutions, including technologically advanced dental equipment supported by cloud software solutions as well as dental products and healthcare consumable products in urology and enterology under a strong portfolio of world class brands. Dentsply Sirona's products provide innovative, high-quality, and effective solutions to advance patient care and deliver better, safer and faster dentistry. The Company introduced the first dental electric drill approximately 132 years ago, the first dental X-ray unit approximately 100 years ago, the first hydrophilic catheter approximately 40 year ago, the first dental computer-aided design/computer-aided manufacturing ("CAD/CAM") system approximately 30 years ago, and numerous other significant innovations including pioneering ultrasonic scaling to increase the speed, effectiveness and comfort of cleaning and revolutionizing both file and apex locater technology to make root canal procedures easier and safer. Dentsply Sirona continues to make significant investments in research and development ("R&D"), and its track record of innovative and profitable new products continues today. Dentsply Sirona's worldwide headquarters is located in Charlotte, North Carolina and its shares of common stock are listed in the United States on Nasdaq under the symbol XRAY. The business is conducted in the United States of America ("U.S." or "United States"), as well as in over 150 foreign countries, principally through its foreign subsidiaries. Dentsply Sirona has a long-established presence in the European market, particularly in Germany, Sweden, France, the United Kingdom

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