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SEGMENT AND GEOGRAPHIC INFORMATION
 12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
SEGMENT AND GEOGRAPHIC INFORMATION SEGMENT AND GEOGRAPHIC INFORMATION
The Company has two operating segments that are organized primarily by product and generally have overlapping geographical presence, customer bases, distribution channels, and regulatory oversight. These operating segments are also the Company’s reportable segments in accordance with how the Company’s chief operating decision-maker regularly reviews financial results and uses this information to evaluate the Company’s performance and allocate resources.

The Company evaluates performance of the segments based on the net sales and adjusted operating income. Segment adjusted operating income is defined as operating income before income taxes and before certain corporate headquarters unallocated costs (including certain inter-segment eliminations which are generally based on estimated external selling prices and are eliminated during consolidation), goodwill impairments, intangible asset impairments and other costs, interest expense, net, other expense (income), net, amortization of intangible assets and depreciation resulting from the fair value step-up of property, plant, and equipment from business combinations.

A description of the products and services provided within each of the Company’s two reportable segments is provided below.

Technologies & Equipment

This segment is responsible for the design, manufacture, and sales of the Company’s dental technology and equipment products and healthcare products. These products include dental implants, CAD/CAM systems, orthodontic aligners, imaging systems, treatment centers, instruments, as well as medical devices.

Consumables

This segment is responsible for the design, manufacture, and sales of the Company’s consumable products which include various preventive, restorative, endodontic, and dental laboratory products.

The Company’s segment information for the years ended December 31 was as follows:
Net SalesYear Ended December 31,
(in millions)202220212020
Technologies & Equipment$2,318 $2,504 $1,954 
Consumables1,604 1,727 1,385 
Total net sales$3,922 $4,231 $3,339 

Depreciation and AmortizationYear Ended December 31,
(in millions)202220212020
Technologies & Equipment$273 $280 $261 
Consumables41 52 61 
All Other (a)
14 15 12 
Total$328 $347 $334 
(a) Includes amounts recorded at corporate headquarters.
Segment Adjusted Operating IncomeYear Ended December 31,
(in millions)202220212020
Technologies & Equipment$399 $543 $382 
Consumables495 539 316 
Segment adjusted operating income$894 $1,082 $698 
Reconciling items (income) expense:   
All other (a)
318 229 269 
Goodwill impairment1,187 — 157 
Intangible asset impairment and other costs114 17 77 
Interest expense, net60 55 46 
Other expense (income), net58 8 1 
Amortization of intangible assets209 222 192 
Depreciation resulting from the fair value step-up of property,
plant, and equipment from business combinations
3 6 6 
(Loss) income before income taxes$(1,055)$545 $(50)
(a) Includes the results of unassigned corporate headquarters costs and inter-segment eliminations.

Capital ExpendituresYear Ended December 31,
(in millions)202220212020
Technologies & Equipment$101 $100 $50 
Consumables20 37 26 
All Other (a)
23 22 11 
Total$144 $159 $87 
(a) Includes capital expenditures of corporate headquarters.

AssetsYear Ended December 31,
(in millions)20222021
Technologies & Equipment$5,518 $6,902 
Consumables1,928 2,123 
All Other (a)
197 214 
Total$7,643 $9,239 
(a) Includes the results of unassigned corporate headquarters costs and inter-segment eliminations.
Geographic Information

The following tables set forth information about the Company’s significant operations by geographic areas, for the years ended December 31, 2022, 2021, and 2020. Net sales reported below represent revenues from external customers in those respective countries based on the destination of shipments.
Year Ended December 31,
(in millions)202220212020
Net sales
United States$1,393 $1,484 $1,116 
Germany 447 482 432 
Other Foreign2,082 2,265 1,791 
Total net sales$3,922 $4,231 $3,339 
Property, plant and equipment, net, represents those long-lived assets held by the operating businesses located in the respective geographic areas.
Year Ended December 31,
(in millions)20222021
Property, plant, and equipment, net
United States$174 $166 
Germany 275 309 
Sweden98 107 
Other Foreign214 191 
Total property, plant, and equipment, net$761 $773 
Product and Customer Information
For information on the Company's net sales by product category, including a description of the revenue streams comprising each of the reportable segments, see Note 2, Revenue.

Concentration Risk

For the year ended December 31, 2021, no customer accounted for 10% or more of consolidated net sales or consolidated accounts receivable balance. Customers that accounted for 10% or more of net sales or accounts receivable for the years ended December 31, 2022 and 2020 were as follows:
Year Ended December 31,
20222020
% of net sales% of accounts receivable% of net sales% of accounts receivable
Henry Schein, Inc.11 %15 %14 %N/A
Patterson Companies, Inc.N/A12 %10 %18 %