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SEGMENT INFORMATION
3 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company has four operating segments that are organized primarily by product. They generally have overlapping geographical presence, customer bases, distribution channels, and regulatory oversight with the exception of Wellspect Healthcare, which has a more discrete market and regulatory environment specific to the medical device industry. These operating segments, which also form the Company’s reportable segments, are identified in accordance with how the Company’s CODM 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 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, goodwill and intangible asset impairments, restructuring 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. Asset and other balance sheet information are not reported to the CODM.

The Company’s segment information for the three months ended March 31, 2024 and 2023 was as follows:

Net Sales
Three Months Ended
(in millions)20242023
Connected Technology Solutions$247 $265 
Essential Dental Solutions364 386 
Orthodontic and Implant Solutions271 259 
Wellspect Healthcare71 68 
Total net sales$953 $978 
Segment Adjusted Operating Income
Three Months Ended
(in millions)20242023
Connected Technology Solutions$$
Essential Dental Solutions115 125 
Orthodontic and Implant Solutions42 49 
Wellspect Healthcare23 18 
Segment adjusted operating income182 198 
Reconciling items expense (income):
All other (a)
79 88 
Intangible asset impairments— 
Restructuring and other costs59 
Interest expense, net18 20 
Other (income) expense, net(7)
Amortization of intangible assets54 53 
Income (loss) before income taxes$31 $(28)
(a) Includes unassigned corporate headquarters costs.