HENRY SCHEIN INC, 10-K filed on 2/25/2025
Annual Report
v3.25.0.1
Cover Page - USD ($)
 12 Months Ended
Dec. 28, 2024
Feb. 18, 2025
Jun. 29, 2024
Cover Page      
Entity Central Index Key 0001000228    
Amendment Flag false    
Document Fiscal Year Focus 2024    
Document Fiscal Period Focus FY    
Current Fiscal Year End Date --12-28    
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 28, 2024    
Document Transition Report false    
Entity Registrant Name HENRY SCHEIN, INC.    
Entity File Number 0-27078    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 11-3136595    
Entity Address, Address Line One 135 Duryea Road    
Entity Address, City or Town Melville    
Entity Address, State or Province NY    
Entity Address, Postal Zip Code 11747    
City Area Code 631    
Local Phone Number 843-5500    
Title of 12(b) Security Common Stock, par value $.01 per share    
Trading Symbol HSIC    
Security Exchange Name NASDAQ    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Well-known Seasoned Issuer Yes    
Entity Emerging Growth Company false    
Entity Small Business false    
Entity Shell Company false    
Entity Public Float     $ 8,092,479,000
Entity Common Stock, Shares Outstanding   124,176,781  
Entity Voluntary Filers No    
Documents Incorporated by Reference
Portions of the Registrant’s definitive proxy statement to be filed pursuant to Regulation 14A not later than 120 days after the end of the fiscal year
(December 28, 2024) are incorporated by reference in Part III hereof.
    
ICFR Auditor Attestation Flag true    
AuditorName BDO USA,    
Auditor Firm Id 243    
Auditor Location New York, NY    
Document Fin Stmt Error Correction Flag false    
v3.25.0.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 28, 2024
Dec. 30, 2023
Current assets:    
Cash and cash equivalents $ 122 $ 171
Accounts receivable, net of allowance for credit losses of $78 and $83 [1] 1,482 1,863
Inventories, net 1,810 1,815
Prepaid expenses and other 569 639
Total current assets 3,983 4,488
Property and equipment, net 531 498
Operating lease right-of-use assets 293 325
Goodwill 3,887 3,875
Other intangibles, net 1,023 916
Investments and other 501 471
Total assets 10,218 10,573
Current liabilities:    
Accounts payable 962 1,020
Bank credit lines 650 264
Current maturities of long-term debt 56 150
Operating lease liabilities 75 80
Accrued expenses:    
Payroll and related 303 332
Taxes 139 137
Other 618 700
Total current liabilities 2,803 2,683
Long-term debt [1] 1,830 1,937
Deferred income taxes 102 54
Operating lease liabilities 259 310
Other liabilities 387 436
Total liabilities 5,381 5,420
Redeemable noncontrolling interests 806 864
Commitments and contingencies
Stockholders' equity:    
Preferred stock, $0.01 par value, 1,000,000 shares authorized, none outstanding 0 0
Common stock, $0.01 par value, 480,000,000 shares authorized, 124,155,884 outstanding on December 28, 2024 and 129,247,765 outstanding on December 30, 2023 1 1
Additional paid-in capital 0 0
Retained earnings 3,771 3,860
Accumulated other comprehensive loss (379) (206)
Total Henry Schein, Inc. stockholders' equity 3,393 3,655
Noncontrolling interests 638 634
Total stockholders' equity 4,031 4,289
Total liabilities, redeemable noncontrolling interests and stockholders' equity $ 10,218 $ 10,573
[1]
Amounts presented include balances held by our consolidated variable interest entity (“VIE”).
 
At December 28, 2024 and
December 30, 2023, includes trade accounts receivable of $
241
 
million and $
284
 
million, respectively, and long-term debt of $
150
million and $
210
 
million, respectively.
 
See
 
for further
information.
v3.25.0.1
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Millions
Dec. 28, 2024
Dec. 30, 2023
Current assets:    
Accounts receivable, reserves (in dollars) $ 78 $ 83
Stockholders' equity:    
Preferred stock, par value (in dollars per share) $ 0.01 $ 0.01
Preferred stock, shares authorized (in shares) 1,000,000 1,000,000
Preferred stock, shares outstanding (in shares) 0 0
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 480,000,000 480,000,000
Common stock, shares outstanding (in shares) 124,155,884 129,247,765
Variable Interest Entity, Primary Beneficiary [Member] | Recourse [Member]    
Liabilities of VIE $ 150 $ 210
Asset Pledged As Collateral [Member] | Variable Interest Entity, Primary Beneficiary [Member]    
Pledged assets $ 241 $ 284
v3.25.0.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Income Statement [Abstract]      
Net sales $ 12,673 $ 12,339 $ 12,647
Cost of sales 8,657 8,479 8,816
Gross profit 4,016 3,860 3,831
Operating expenses:      
Selling, general and administrative 3,034 2,956 2,771
Depreciation and amortization 251 209 182
Restructuring and integration costs 110 80 131
Operating income 621 615 747
Other income (expense):      
Interest income 24 17 8
Interest expense (131) (87) (35)
Other, net (1) (3) 1
Income before taxes, equity in earnings of affiliates and noncontrolling interests 513 542 721
Income taxes (128) (120) (170)
Equity in earnings of affiliates, net of tax 13 14 15
Net Income 398 436 566
Less: Net income attributable to noncontrolling interests (8) (20) (28)
Net income attributable to Henry Schein, Inc. $ 390 $ 416 $ 538
Earnings per share attributable to Henry Schein, Inc.:      
Basic (in dollars per share) $ 3.07 $ 3.18 $ 3.95
Diluted (in dollars per share) $ 3.05 $ 3.16 $ 3.91
Weighted-average common shares outstanding:      
Basic (in shares) 126,788,997 130,618,990 136,064,221
Diluted (in shares) 127,779,228 131,748,171 137,755,670
v3.25.0.1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Millions
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Statement of Comprehensive Income [Abstract]      
Net Income $ 398 $ 436 $ 566
Other comprehensive income, net of tax:      
Foreign currency translation gain (loss) (207) 53 (88)
Unrealized gain (loss) from hedging activities 13 (18) 7
Pension adjustment gain (loss) (3) (3) 12
Other comprehensive income (loss), net of tax (197) 32 (69)
Comprehensive income 201 468 497
Comprehensive income attributable to noncontrolling interests:      
Net income (8) (20) (28)
Foreign currency translation loss (gain) 24 (5) 7
Comprehensive loss (income) attributable to noncontrolling interests 16 (25) (21)
Comprehensive income attributable to Henry Schein, Inc. $ 217 $ 443 $ 476
v3.25.0.1
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)
$ in Millions
Total
Common Stock [Member]
Additional Paid-in Capital [Member]
Retained Earnings [Member]
Accumulated Other Comprehensive Income (Loss) [Member]
Noncontrolling Interests [Member]
Beginning Balance at Dec. 25, 2021 $ 4,063 $ 1 $ 0 $ 3,595 $ (171) $ 638
Beginning Balance (in shares) at Dec. 25, 2021   137,145,558        
Net income (excluding amounts attributable to Redeemable noncontrolling interests) 545 $ 0 0 538 0 7
Foreign currency translation gain (loss) (excluding amounts attributable to Redeemable noncontrolling interests) (82) 0 0 0 (81) (1)
Unrealized gain (loss) from hedging activities, net of tax expense (benefit) 7 0 0 0 7 0
Pension adjustment gain (loss), net of tax impact 12 0 0 0 12 0
Distributions to noncontrolling shareholders (1) 0 0 0 0 (1)
Purchase of noncontrolling interests (7) 0 0 0 0 (7)
Change in fair value of redeemable securities 4 0 4 0 0 0
Noncontrolling interests and adjustments related to business acquisitions 13 0 0 0 0 13
Repurchase and retirement of common stock - Value (485) $ 0 (65) (420) 0 0
Repurchase and retirement of common stock - Shares   (6,111,676)        
Stock issued upon exercise of stock options, Value 2 $ 0 2 0 0 0
Stock issued upon exercise of stock options, shares   35,792        
Stock-based compensation expense - Value 54 $ 0 54 0 0 0
Stock-based compensation expense - Shares   1,102,108        
Shares withheld for payroll taxes - Value (32) $ 0 (32) 0 0 0
Shares withheld for payroll taxes - Shares   (376,034)        
Settlement of stock-based compensation awards 2 $ 0 2 0 0 0
Settlement of stock-based compensation awards, shares   (2,931)        
Transfer of charges in excess of capital 0 $ 0 35 (35) 0 0
Ending Balance at Dec. 31, 2022 4,095 $ 1 0 3,678 (233) 649
Ending Balance (in shares) at Dec. 31, 2022   131,792,817        
Net income (excluding amounts attributable to Redeemable noncontrolling interests) 430 $ 0 0 416 0 14
Foreign currency translation gain (loss) (excluding amounts attributable to Redeemable noncontrolling interests) 48 0 0 0 48 0
Unrealized gain (loss) from hedging activities, net of tax expense (benefit) (18) 0 0 0 (18) 0
Pension adjustment gain (loss), net of tax impact (3) 0 0 0 (3) 0
Distributions to noncontrolling shareholders (27) 0 0 0 0 (27)
Change in fair value of redeemable securities 11 0 11 0 0 0
Noncontrolling interests and adjustments related to business acquisitions (2) 0 0 0 0 (2)
Repurchase and retirement of common stock - Value (252) $ 0 (33) (219) 0 0
Repurchase and retirement of common stock - Shares   (3,214,136)        
Stock issued upon exercise of stock options, Value 1 $ 0 1 0 0 0
Stock issued upon exercise of stock options, shares   21,068        
Stock-based compensation expense - Value 39 $ 0 39 0 0 0
Stock-based compensation expense - Shares   1,065,319        
Shares withheld for payroll taxes - Value (34) $ 0 (34) 0 0 0
Shares withheld for payroll taxes - Shares   (416,605)        
Settlement of stock-based compensation awards 1 $ 0 1 0 0 0
Settlement of stock-based compensation awards, shares   (698)        
Transfer of charges in excess of capital 0 $ 0 15 (15) 0 0
Ending Balance at Dec. 30, 2023 $ 4,289 $ 1 0 3,860 (206) 634
Ending Balance (in shares) at Dec. 30, 2023 129,247,765 129,247,765        
Net income (excluding amounts attributable to Redeemable noncontrolling interests) $ 399 $ 0 0 390 0 9
Foreign currency translation gain (loss) (excluding amounts attributable to Redeemable noncontrolling interests) (183) 0 0 0 (183) 0
Unrealized gain (loss) from hedging activities, net of tax expense (benefit) 13 0 0 0 13 0
Pension adjustment gain (loss), net of tax impact (3) 0 0 0 (3) 0
Distributions to noncontrolling shareholders (6) 0 0 0 0 (6)
Purchase of noncontrolling interests (8) 0 (7) 0 0 (1)
Change in fair value of redeemable securities (119) 0 (119) 0 0 0
Noncontrolling interests and adjustments related to business acquisitions 1 0 (1) 0 0 2
Repurchase and retirement of common stock - Value (388) $ 0 (52) (336) 0 0
Repurchase and retirement of common stock - Shares   (5,419,649)        
Stock issued upon exercise of stock options, Value 6 $ 0 6 0 0 0
Stock issued upon exercise of stock options, shares   98,755        
Stock-based compensation expense - Value 39 $ 0 39 0 0 0
Stock-based compensation expense - Shares   340,722        
Shares withheld for payroll taxes - Value (9) $ 0 (9) 0 0 0
Shares withheld for payroll taxes - Shares   (111,815)        
Settlement of stock-based compensation awards 0 $ 0 0 0 0 0
Settlement of stock-based compensation awards, shares   106        
Transfer of charges in excess of capital 0 $ 0 143 (143) 0 0
Ending Balance at Dec. 28, 2024 $ 4,031 $ 1 $ 0 $ 3,771 $ (379) $ 638
Ending Balance (in shares) at Dec. 28, 2024 124,155,884          
v3.25.0.1
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - USD ($)
$ in Millions
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]      
Net income attributable to redeemable noncontrolling interests $ (1) $ 6 $ 21
Foreign currency translation (gain) loss 24 (5) 6
Unrealized gain (loss) from foreign currency hedging activities, tax benefit (expense) (5) 7 (3)
Pension adjustment gain (loss), net of tax impact, (expense) benefit $ 2 $ 0 $ (4)
v3.25.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net Income $ 398 $ 436 $ 566
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 297 248 212
Impairment charge on intangible assets 0 7 34
Impairment of capitalized software 12 27 0
Non-cash restructuring charges 32 27 93
Stock-based compensation expense 39 39 54
Provision for losses on trade and other accounts receivable 14 18 5
Benefit from deferred income taxes (61) (20) (73)
Equity in earnings of affiliates (13) (14) (15)
Distributions from equity affiliates 12 15 15
Changes in unrecognized tax benefits 5 10 12
Other (27) (3) (20)
Changes in operating assets and liabilities, net of acquisitions:      
Accounts receivable 315 (327) (7)
Inventories (59) 231 (126)
Other current assets 47 (138) (52)
Accounts payable and accrued expenses (163) (56) (96)
Net cash provided by operating activities 848 500 602
Cash flows from investing activities:      
Purchases of property and equipment (148) (147) (96)
Payments related to equity investments and business acquisitions, net of cash acquired (230) (955) (158)
Proceeds from loan to affiliate 4 6 11
Settlements for net investment hedges 0 22 0
Capitalized software costs (39) (40) (32)
Other (17) (21) (1)
Net cash used in investing activities (430) (1,135) (276)
Cash flows from financing activities:      
Net change in bank credit lines 387 153 48
Proceeds from issuance of long-term debt 120 1,368 270
Principal payments for long-term debt (318) (468) (59)
Debt issuance costs 0 (3) 0
Proceeds from issuance of stock upon exercise of stock options 6 1 2
Payments for repurchases and retirement of common stock (385) (250) (485)
Payments for taxes related to shares withheld for employee taxes (9) (34) (32)
Distributions to noncontrolling shareholders (54) (47) (21)
Payments for contingent consideration (2) 0 0
Acquisitions of noncontrolling interests in subsidiaries (255) (19) (38)
Net cash provided by (used in) financing activities (510) 701 (315)
Effect of exchange rate changes on cash and cash equivalents 43 (12) (12)
Net change in cash and cash equivalents (49) 54 (1)
Cash and cash equivalents, beginning of period 171 117 118
Cash and cash equivalents, end of period $ 122 $ 171 $ 117
v3.25.0.1
Basis of Presentation and Significant Accounting Policies
 12 Months Ended
Dec. 28, 2024
Basis of Presentation and Significant Accounting Policies [Abstract]  
Basis of Presentation and Significant Accounting Policies
Note 1 – Basis of Presentation and Significant Accounting Policies
Nature of Operations
We distribute health care products and value-added services primarily to office-based dental and medical
practitioners, across dental practices, laboratories, physician practices,
 
and ambulatory surgery centers, as well as
government, institutional health care clinics and alternate care clinics.
 
We also provide software and technology
services to health care practitioners.
 
Our dental businesses serve office-based dental practitioners, dental
laboratories, schools, government and other institutions.
 
Our medical businesses serve physician offices, urgent
care centers, ambulatory care sites, emergency medical technicians, dialysis centers,
 
home health, federal and state
governments and large enterprises, such as group practices and integrated delivery
 
networks, among other providers
across a wide range of specialties.
We have operations or affiliates in the United States, Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile,
China, the Czech Republic, France, Germany, Hong Kong SAR, Ireland, Israel, Italy, Japan, Liechtenstein,
Luxembourg, Mexico, Morocco, the Netherlands, New Zealand, Peru, Poland, Portugal, South
 
Africa, Spain,
Sweden, Switzerland, Thailand, United Arab Emirates and the United Kingdom.
Basis of Presentation
Our consolidated financial statements include the accounts of Henry
 
Schein, Inc. and all of our controlled
subsidiaries and VIE.
 
All intercompany accounts and transactions are eliminated
 
in consolidation.
 
Investments in
unconsolidated affiliates for which we have the ability to influence the operating or
 
financial decisions are
accounted for under the equity method.
 
Certain prior period amounts have been reclassified to conform
 
to the
current period presentation.
 
These reclassifications, individually and in the aggregate, did not
 
have a material
impact on our consolidated financial condition, results of operations
 
or cash flows.
The primary beneficiary of a VIE is required to consolidate the assets and
 
liabilities of the VIE.
 
We are deemed to
be the primary beneficiary of the VIE when we have the power to direct activities
 
that most significantly affect its
economic performance and have the obligation to absorb the majority
 
of its losses or the right to receive benefits
that could potentially be significant to the VIE.
 
In determining whether we are the primary beneficiary, we
consider factors such as ownership interest, debt investments, management
 
representation, authority to control
decisions, and contractual and substantive participating rights of each party.
 
For this VIE, the trade accounts
receivable transferred to the VIE are pledged as collateral to the related debt.
 
The VIE’s creditors have recourse to
us for losses on these trade accounts receivable.
 
At December 28, 2024 and December 30, 2023,
 
certain trade
accounts receivable that can only be used to settle obligations of this VIE
 
were $
241
 
million and $
284
 
million,
respectively, and the liabilities of this VIE where the creditors have recourse to us were $
150
 
million and $
210
million, respectively.
 
 
 
 
 
 
 
 
 
 
 
Fair Value
 
Measurements
Fair value is defined as the price that would be received to sell an asset or
 
paid to transfer a liability in an orderly
transaction between market participants at the measurement date.
 
The fair value hierarchy distinguishes between
(1) market participant assumptions developed based on market data obtained
 
from independent sources (observable
inputs) and (2) an entity’s own assumptions about market participant assumptions developed based on the best
information available in the circumstances (unobservable inputs).
The fair value hierarchy consists of three broad levels, which gives the
 
highest priority to unadjusted quoted prices
in active markets for identical assets or liabilities (Level 1) and the lowest priority
 
to unobservable inputs (Level 3).
 
The three levels of the fair value hierarchy are described as follows:
 
 
•
 
Level 1— Unadjusted quoted prices in active markets for identical assets
 
or liabilities that are accessible at the
measurement date.
•
 
Level 2— Inputs other than quoted prices included within Level 1 that are
 
observable for the asset or liability,
either directly or indirectly.
 
Level 2 inputs include: quoted prices for similar assets or liabilities
 
in active markets;
quoted prices for identical or similar assets or liabilities in markets
 
that are not active; inputs other than quoted
prices that are observable for the asset or liability; and inputs that are
 
derived principally from or corroborated by
observable market data by correlation or other means.
•
 
Level 3— Inputs that are unobservable for the asset or liability.
 
 
 
 
 
 
 
 
 
 
Use of Estimates
The preparation of consolidated financial statements in conformity with
 
accounting principles generally accepted in
the United States requires us to make estimates and assumptions that
 
affect the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities at the date of
 
the financial statements and the reported
amounts of revenues and expenses during the reporting period.
 
Actual results could differ from those estimates.
Our consolidated financial statements reflect estimates and assumptions
 
made by us that affect, among other things,
our goodwill, long-lived asset and definite-lived intangible asset valuation;
 
inventory valuation; equity investment
valuation; assessment of the annual effective tax rate; valuation of deferred income
 
taxes and income tax
contingencies; the allowance for credit losses; hedging activity; supplier
 
rebates; measurement of compensation
cost for certain share-based performance awards and cash bonus plans; and
 
pension plan assumptions.
 
 
 
 
 
Fiscal Year
We report our results of operations and cash flows on a
52
 
or
53
 
weeks per fiscal year basis ending on the last
Saturday of December.
 
The year ended December 28, 2024 consisted of
52
 
weeks, and the years ended December
30, 2023 and December 31, 2022 consisted of
52
 
weeks and
53
 
weeks, respectively.
 
 
 
 
 
 
 
Revenue Recognition
 
Revenue is recognized when a customer obtains control of promised goods
 
or services in an amount that reflects the
consideration that we expect to receive for those goods or services.
 
To recognize revenue, we:
•
 
identify the contract(s) with a customer;
 
•
 
identify the performance obligations in the contract;
 
•
 
determine the transaction price;
 
•
 
allocate the transaction price to the performance obligations in the contract;
 
and
 
•
 
recognize revenue when, or as, we satisfy a performance obligation.
We generate revenue from the sale of dental and medical consumable products, equipment, and services such as
equipment repair and financial services (Global Distribution and Value-Added Services revenues), company-
manufactured specialty products (Global Specialty Products revenue), and software
 
products and related services
(Global Technology revenues).
 
Provisions for discounts, rebates to customers, customer
 
returns and other contra
revenue adjustments are included in the transaction price at contract
 
inception by estimating the most likely amount
 
 
 
 
 
 
 
 
 
based upon historical data and estimates and are provided for in the
 
period in which the related sales are
recognized.
Revenue derived from the sale of consumable products and company-manufactured
 
specialty products is
recognized at the point in time when control transfers to the customer, (e.g. when legal title and risks and
 
rewards
of ownership transfer to the customer, we have no post-shipment obligations, and we have an enforceable
 
right to
payment).
 
Sales of consumable products typically entail high-volume, low-dollar
 
orders shipped using third-party
common carriers.
 
Revenue derived from the sale of equipment is recognized when control
 
transfers to the customer.
 
This occurs
when the equipment is delivered.
 
Such sales typically entail scheduled deliveries of large equipment primarily
 
by
equipment service technicians.
 
Most equipment requires minimal installation, which is
 
typically completed at the
time of delivery.
Our merchandise and equipment products generally carry standard warranty
 
terms provided by the manufacturer;
however, in instances where we provide a warranty on company-manufactured products or labor services, the
warranty costs are accrued in accordance with Accounting Standards Codification
 
(“ASC”) Topic 460 Guarantees.
 
At December 28, 2024 and December 30, 2023, we had accrued approximately
 
$
8
 
million and $
12
 
million,
respectively, for warranty costs.
 
Revenue derived from the sale of software products is recognized when
 
products are delivered to customers or
made available electronically.
 
Such software is generally installed by customers and does
 
not require extensive
training.
 
Revenue derived from post-contract customer support for software,
 
including annual support and/or
training, is generally recognized over time using time elapsed as the input method
 
that best depicts the transfer of
control to the customer.
 
Revenue derived from software sold on a Software-as-a-Service
 
basis is recognized ratably
over the subscription period as control is transferred to the customer.
Revenue derived from other sources, including freight charges, equipment repairs
 
and financial services, is
recognized when the related product revenue is recognized or when
 
the services are provided.
 
We apply the
practical expedient to treat shipping and handling activities performed after
 
the customer obtains control as
fulfillment activities, rather than a separate performance obligation in the
 
contract.
Sales, value-add and other taxes we collect concurrent with revenue-producing
 
activities are excluded from
revenue.
Some of our revenue is derived from bundled arrangements that include
 
multiple distinct performance obligations,
which are accounted for separately.
 
When we sell software products together with related services (i.e.,
 
training
and technical support), we allocate the transaction price to each
 
distinct performance obligation based on the
estimated standalone selling price for each performance obligation.
 
Bundled arrangements that include elements
that are not considered software consist primarily of equipment and the related
 
installation service.
 
We allocate
revenue for such arrangements based on the relative selling prices of the goods
 
or services.
 
If an observable selling
price is not available (i.e., because we or others do not sell the goods or
 
services separately), we use one of the
following techniques to estimate the standalone selling price: adjusted
 
market approach; cost-plus-margin
approach; or the residual method.
 
There is no specific hierarchy for the use of these methods, but
 
the estimated
selling price reflects our best estimate of what the selling prices of each deliverable
 
would be if it were sold
regularly on a standalone basis taking into consideration the cost structure
 
of our business, technical skill required,
customer location and other market conditions.
Sales Returns
Sales returns are recognized as a reduction of revenue by the amount
 
of expected returns and are recorded as refund
liability within accrued expenses-other within our consolidated balance sheets.
 
We estimate the sales return
liability based on historical data for specific products, adjusted as necessary
 
for new products.
 
The allowance for
returns is presented gross as a refund liability and we record a right of
 
return asset (and a corresponding adjustment
to cost of sales) for any products that we expect to be returned and resaleable.
Cost of Sales
The primary components of cost of sales include the cost of the product
 
(net of purchase discounts, supplier
chargebacks and rebates) and inbound and outbound freight charges.
Costs related to purchasing, receiving, inspections, warehousing,
 
internal inventory transfers and other costs of our
distribution network are included in selling, general and administrative
 
expenses along with other operating costs.
 
Total distribution network costs were $
105
 
million, $
105
 
million and $
103
 
million for the years ended December
28, 2024, December 30, 2023 and December 31, 2022, respectively.
Supplier Rebates
 
Supplier rebates are included as a reduction of cost of sales and are recognized
 
over the period they are earned.
 
The
factors we consider in estimating supplier rebate accruals include forecasted
 
inventory purchases,
 
sales, supplier
rebate contract terms, which generally provide for increasing rebates based
 
on either increased purchase or sales
volumes.
Direct Shipping and Handling Costs
Freight and other direct shipping costs are included in cost of sales.
 
Direct handling costs, which represent
primarily direct compensation costs of employees who pick, pack and otherwise
 
prepare, if necessary, merchandise
for shipment to our customers are reflected in selling, general and administrative
 
expenses.
 
Direct handling costs
were $
106
 
million, $
98
 
million and $
96
 
million for the years ended December 28, 2024, December 30, 2023
 
and
December 31, 2022, respectively.
Advertising and Promotional Costs
We expense advertising and promotional costs as incurred.
 
Total advertising and promotional expenses were $
43
million, $
47
 
million and $
47
 
million for the years ended December 28, 2024, December 30, 2023 and
 
December
31, 2022, respectively.
Stock-Based Compensation Costs
We
measure stock-based compensation at the grant date, based on the estimated
 
fair value of the award, and
recognize the cost (net of estimated forfeitures) as compensation expense on
 
a straight-line basis over the requisite
service period for time-based restricted stock units and on a graded vesting
 
basis for the option awards.
 
For
performance-based awards, at each reporting date, we reassess whether achievement
 
of the performance condition
is probable and accrue compensation expense when achievement of
 
the performance condition is probable.
 
Our
stock-based compensation expense is reflected in selling, general and administrative
 
expenses.
Employment Benefit Plans and other Postretirement Benefit Plans
Some of our employees in our international markets participate
 
in various noncontributory defined benefit plans.
 
We recognize the funded status, measured as the difference between the fair value of plan assets and the projected
benefit obligation.
 
Each unfunded plan is recognized as a liability and each funded
 
plan is recognized as either an
asset or liability based on its funded status.
 
We measure our plan assets and liabilities at the end of our fiscal year.
Net periodic pension costs and valuations are dependent on assumptions
 
used by third-party actuaries in calculating
those amounts.
 
These assumptions include discount rates, expected return on plan
 
assets, rate of future
compensation levels, retirement rates, mortality rates, and other factors.
 
We record the service cost component of
net pension cost in selling, general and administrative expenses within
 
our consolidated statements of income.
Gains and losses that result from changes in actuarial assumptions or
 
from actual experience that differs from
actuarial assumptions are recognized in and then amortized from Accumulated
 
other comprehensive income (loss).
Cash and Cash Equivalents
 
We consider all highly liquid short-term investments with an original maturity of three months or less to be cash
equivalents.
 
Due to the short-term maturity of such investments,
 
the carrying amounts are a reasonable estimate of
fair value.
 
Outstanding checks in excess of funds on deposit of $
33
 
million and $
52
 
million, primarily related to
payments for inventory, were classified as accounts payable as of December 28, 2024 and December 30, 2023.
Accounts Receivable and Allowance for Credit Losses
Accounts receivable are generally recognized when revenues are recognized.
 
In accordance with the “expected
credit loss” model, the carrying amount of accounts receivable is reduced
 
by a valuation allowance that reflects our
best estimate of the amounts that we do not expect to collect.
 
In addition to reviewing delinquent accounts
receivable, we consider many factors in estimating our reserve, including
 
types of customers and their credit
worthiness, experience and historical data adjusted for current conditions
 
and reasonable supportable forecasts.
 
We
record allowances for credit losses based upon a specific review of all
 
significant outstanding invoices.
 
For
those invoices not specifically reviewed, provisions are provided at differing rates,
 
based upon the age of the
receivable, the collection history associated with the geographic region
 
that the receivable was recorded in, current
economic trends and reasonable supportable forecasts.
 
We
write off a receivable and charge it against its recorded
allowance when we deem them uncollectible.
Our net accounts receivable balance was $
1,482
 
million, $
1,863
 
million, and $
1,442
 
million, at December 28, 2024,
December 30, 2023 and December 31, 2022, respectively.
The following table presents our allowances for credit losses:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of
Description
December 28,
2024
December 30,
2023
December 31,
2022
Balance at beginning of year
$
83
$
65
$
67
Provision for credit losses
14
17
6
Adjustments to existing allowances for late fees, foreign currency
exchange rates, and write-offs
(19)
1
(8)
Balance at end of year
$
78
$
83
$
65
Contract Assets
Contract assets include amounts related to any conditional right to consideration
 
for work completed but not billed
as of the reporting date.
 
Contract assets are transferred to accounts receivable when
 
the right becomes
unconditional.
 
The contract assets primarily relate to our bundled arrangements for
 
the sale of equipment and
consumables and sales of term software licenses.
 
Current contract assets are included in Prepaid expenses and
other and the non-current contract assets are included in investments and other
 
within our consolidated balance
sheets.
 
Current and non-current contract asset balances as of December 28,
 
2024 and December 30, 2023 were not
material.
Contract Liabilities
Contract liabilities are comprised of advance payments and upfront payments
 
for service arrangements provided
over time that are accounted for as deferred revenue amounts.
 
Contract liabilities are transferred to revenue once
the performance obligation has been satisfied.
 
Current contract liabilities are included in accrued expenses: other
and the non-current contract liabilities are included in other liabilities
 
within our consolidated balance sheets.
During the years ended December 28, 2024, December 30, 2023, and December
 
31, 2022, we recognized
substantially all of the current contract liability amounts that were previously
 
deferred at the beginning of each
year.
The following table presents our contract liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of
Description
December 28,
2024
December 30,
2023
December 31,
2022
Current contract liabilities
$
81
$
89
$
86
Non-current contract liabilities
8
9
8
Total contract
 
liabilities
$
89
$
98
$
94
Inventories and Reserves
 
Inventories consist primarily of finished goods,
 
raw materials and work-in-process and are valued at the lower
 
of
cost or net realizable value.
 
Cost is determined by the weighted average method for merchandise and by
 
actual cost
for large equipment and high-tech equipment.
 
We manufacture certain of our products for our specialty businesses
(oral surgery solutions including dental implants, endodontics, and orthopedics).
 
In accordance with our policy for
inventory valuation, we consider many factors including the
 
condition and salability of the inventory, historical
sales, forecasted sales and market and economic trends.
 
From time to time, we adjust our assumptions for
anticipated changes in any of these or other factors expected to affect the value of inventory.
Property and Equipment
Property and equipment are stated at cost, net of accumulated depreciation or
 
amortization.
 
Depreciation is
computed under the straight-line method using estimated useful lives
 
Amortization of leasehold improvements is computed using the straight-line
 
method
over the lesser of the useful life of the assets or the remaining lease term.
Capitalized Software Development Costs
Capitalized software costs consist of costs to purchase and develop software
 
for internal use and for sale or use by
customers.
 
For software to be used solely to meet internal needs, we capitalize
 
costs incurred during the
 
 
 
 
 
 
application development stage and include such costs within property
 
and equipment, net within our consolidated
balance sheets.
 
For software to be sold, leased, or marketed to external users, we capitalize
 
software development
costs when technological feasibility is reached, and for cloud-based applications
 
used to deliver our services we
capitalize costs incurred during the application development stage,
 
and include such costs within investments and
other within our consolidated balance sheets.
Leases
 
We
determine if an arrangement contains a lease at inception.
 
An arrangement contains a lease if it implicitly or
explicitly identifies an asset to be used and conveys the right to control
 
the use of the identified asset in exchange
for consideration.
 
As a lessee, we include operating leases in operating lease right-of-use
 
(“ROU”) assets,
operating lease liabilities, and non-current operating lease liabilities in our
 
consolidated balance sheets.
 
Finance
leases are included in property and equipment, current maturities of
 
long-term debt, and long-term debt in our
consolidated balance sheets.
 
ROU assets represent our right to use an underlying asset for the lease
 
term and lease liabilities represent our
obligation to make lease payments arising from the lease.
 
Operating lease ROU assets and liabilities are recognized
upon commencement of the lease based on the present value of the lease payments
 
over the lease term.
 
As most of
our leases do not provide an implicit interest rate, we generally use our incremental
 
borrowing rate based on the
estimated rate of interest for fully collateralized and fully amortizing borrowings
 
over a similar term of the lease
payments at commencement date to determine the present value of
 
lease payments.
 
When readily determinable, we
use the implicit rate.
 
Our lease terms may include options to extend or terminate the lease when it is reasonably
certain that we will exercise that option.
 
Lease expense for lease payments is recognized on a straight-line
 
basis
over the lease term.
 
Expenses associated with operating leases and finance leases
 
are included in selling, general
and administrative and interest expense, respectively within our consolidated
 
statement of income.
 
Short-term
leases with a term of 12 months or less are not capitalized.
We
have lease agreements with lease and non-lease components, which are
 
generally accounted for as a single
lease component, except non-lease components for leases of vehicles, which
 
are accounted for separately.
 
When a
vehicle lease contains both lease and non-lease components, we allocate the
 
transaction price based on the relative
standalone selling price.
Business Acquisitions
We account for business acquisitions under the acquisition method of accounting, under which the net assets of
acquired businesses are recorded at their fair value at the acquisition
 
date and our consolidated financial statements
include the acquired businesses’ results of operations from that date.
Some prior owners of acquired subsidiaries are eligible to receive additional
 
purchase price cash consideration, or
we may be entitled to recoup a portion of purchase price cash consideration
 
if certain financial targets are met.
 
We
have accrued liabilities for the estimated fair value of additional purchase
 
price consideration at the time of the
acquisition, using the income approach, including a probability-weighted
 
discounted cash flow method or an option
pricing method, where applicable.
 
Any adjustments to these accrual amounts are recorded
 
in selling, general and
administrative within our consolidated statements of income.
 
While we use our best estimates and assumptions to accurately value
 
assets acquired and liabilities assumed at the
acquisition date, our estimates are inherently uncertain and subject
 
to refinement.
 
As a result, within
12 months
following the date of acquisition, or the measurement period, we
 
may record adjustments to the assets acquired and
liabilities assumed with the corresponding offset to goodwill within our consolidated balance
 
sheets.
 
At the end of
the measurement period or final determination of the values of such assets
 
acquired or liabilities assumed,
whichever comes first, any subsequent adjustments are recognized
 
in our consolidated statements of operations.
Goodwill
 
Any excess of acquisition consideration over the fair value of identifiable
 
net assets acquired is recorded as
goodwill.
 
Goodwill is an asset representing the future economic benefits
 
arising from other assets acquired in a
business combination that are not individually identified and separately
 
recognized, such as future customers and
technology, as well as the assembled workforce.
Goodwill represents, for acquired business, the excess of the purchase price
 
over the estimated fair value of the net
assets acquired, including the amount assigned to identifiable intangible
 
assets.
 
Goodwill is subject to impairment
analysis annually or more frequently if needed.
 
Such impairment analyses for goodwill requires a comparison
 
of
the fair value to the carrying value of reporting units.
 
We aggregate operating segments into the reportable
segments based on economic similarities, the nature of their products, customer
 
basis, and methods of distribution
as follows: Global Distribution and Value-Added Services; Global Specialty Products;
 
and Global Technology.
 
Goodwill was allocated to such reporting units, for the purpose of
 
preparing our impairment analyses, based on a
specific identification basis.
During the fourth quarter of our fiscal year ended December 28, 2024,
 
we revised our segment structure to align
with how our Chairman and Chief Executive Officer manages the business, assesses
 
performance and allocates
resources.
 
Our revised reportable segments now consist of: (i) Global Distribution
 
and Value
 
-Added Services; (ii)
Global Specialty Products;
 
and (iii) Global Technology.
 
Reporting units under the former structure were tested for
impairment, and no impairment was identified.
 
As a result of the realignment and the change in operating
segments, we reallocated goodwill to each of our new reporting units using
 
a relative fair value approach.
 
Based on
the impairment test under the new structure, it was determined that the
 
fair values of our reporting units more likely
than not exceeded their carrying values, resulting in no impairment.
 
For both the former and new structure
goodwill impairment tests as of September 30, 2024, the fair values of reporting
 
units were computed using the
methodology described above.
Application of the goodwill impairment test requires judgment, including
 
the identification of reporting units,
assignment of assets and liabilities that are considered shared services
 
to the reporting units, and ultimately the
determination of the fair value of each reporting unit.
 
The fair value of each reporting unit is calculated by
applying the discounted cash flow methodology and confirming with
 
a market approach.
 
There are inherent
uncertainties related to fair value models, the inputs and our judgments
 
in applying them to this analysis.
 
The most
significant inputs include estimation of future cash flows based on budget
 
expectations, and determination of
comparable companies to develop a weighted average cost of capital for each
 
reporting unit.
In connection with our restructuring initiatives, during the year ended
 
December 28, 2024, we recorded an $
11
million impairment of goodwill in the Global Specialty Products segment,
 
relating to the disposal of a portion of a
business; such impairment was calculated based on the relative fair value
 
of goodwill.
 
For the year ended
December 31, 2022, we recorded a $
20
 
million impairment of goodwill, in the Global Specialty Products segment,
relating to the disposal of an unprofitable business for which estimated
 
fair value was lower than carrying value.
Intangible Assets
In connection with our business acquisitions, the major classes of
 
assets and liabilities to which we generally
allocate acquisition consideration to, excluding goodwill, include
 
identifiable intangible assets (i.e., customer
relationships and lists, trademarks and trade names, product development
 
and non-compete agreements), inventory
and accounts receivable.
 
The estimated fair value of identifiable intangible assets
 
is based on critical judgments
and assumptions derived from analysis of market conditions, including
 
discount rates, projected revenue growth
rates (which are based on historical trends and assessment of financial projections),
 
estimated customer attrition and
projected cash flows.
 
We have calculated the value of these intangible assets using the multi-period excess
 
 
earnings method, the relief-from-royalty method, and the with and without
 
method, where applicable.
 
These
assumptions are forward-looking and could be affected by future economic and
 
market conditions.
 
Intangible assets, other than goodwill, are evaluated for impairment whenever
 
events or changes in circumstances
indicate that the carrying amount of the assets may not be recoverable
 
through the undiscounted future cash flows
expected to be derived from such asset or asset group.
Definite and indefinite-lived intangible assets primarily consist of non-compete
 
agreements, trademarks, trade
names, customer lists, customer relationships and product development.
 
For long-lived assets used in operations,
impairment losses are only recorded if the asset or asset groups carrying amount
 
is not recoverable through its
undiscounted future cash flows.
 
We measure the impairment loss based on the difference between the carrying
amount and the estimated fair value.
 
When an impairment exists, the related assets are written down to
 
fair value.
During the years ended December 28, 2024, December 30, 2023
 
and December 31, 2022, we recorded total
impairment charges within the selling, general and administrative line of our consolidated statements
 
of income on
intangible assets of $
0
 
million, $
7
 
million and $
34
 
million, respectively, as more fully discussed in
 
 
 
During the years ended December 28, 2024, December 30, 2023
 
and
December 31, 2022, we recorded impairment charges, within the restructuring and
 
integration costs line of our
consolidated statements of income, of $
14
 
million, $
12
, million, and $
35
 
million, respectively.
Income Taxes
We account for income taxes under an asset and liability approach that requires the recognition of deferred income
tax assets and liabilities for the expected future tax consequences of events
 
that have been recognized in our
financial statements or tax returns.
 
In estimating future tax consequences, we generally consider all expected
 
future
events other than expected enactments of changes in tax laws or rates.
 
The effect on deferred income tax assets and
liabilities of a change in tax rates is recognized as income or expense in
 
the period that includes the enactment date.
 
We file a consolidated U.S. federal income tax return with our 80% or greater owned U.S. subsidiaries.
Redeemable Noncontrolling Interests
Some minority stockholders in certain of our consolidated subsidiaries have
 
the right, at certain times, to require us
to acquire their ownership interest in those entities at fair value.
 
Their interests in these subsidiaries are classified
outside permanent equity on our consolidated balance sheets and are
 
carried at the estimated redemption amounts.
 
The redemption amounts have been estimated based on recent transactions
 
and/or implied multiples of earnings
and, if such earnings and cash flows are not achieved, the value of the
 
redeemable noncontrolling interests might be
impacted.
 
Changes in the estimated redemption amounts of the noncontrolling
 
interests subject to put options are
reflected at each reporting period with a corresponding adjustment
 
to Additional paid-in capital.
 
Future reductions
in the carrying amounts are subject to a “floor” amount that is equal
 
to the fair value of the redeemable
noncontrolling interests at the time they were originally recorded.
 
The recorded value of the redeemable
noncontrolling interests cannot go below the floor level.
 
Adjustments to the carrying amount of noncontrolling
interests to reflect a fair value redemption feature do not impact the
 
calculation of earnings per share.
 
Our net
income is reduced by the portion of the subsidiaries’ net income
 
that is attributable to redeemable noncontrolling
interests.
 
 
Noncontrolling Interests
Noncontrolling interest represents the ownership interests of certain
 
minority owners of our consolidated
subsidiaries.
 
Our net income is reduced by the portion of the subsidiaries’
 
net income that is attributable to
noncontrolling interests.
Comprehensive Income
Comprehensive income includes certain gains and losses that, under accounting
 
principles generally accepted in the
United States, are excluded from net income as such amounts are recorded
 
directly as an adjustment to
stockholders’ equity.
 
Our comprehensive income is primarily comprised of net income,
 
foreign currency
translation gain (loss), unrealized gain (loss) from hedging activities
 
and unrealized pension adjustment gain.
 
Risk Management and Derivative Financial Instruments
 
We use derivative instruments to minimize our exposure to fluctuations in foreign currency exchange rates, interest
rates, and our unfunded non-qualified supplemental retirement plan (“SERP”)
 
and our deferred compensation plan
(“DCP”).
 
Our objective is to manage the impact that foreign currency
 
exchange rate fluctuations could have on
recognized asset and liability fair values, earnings and cash flows, as well
 
as our net investments in foreign
subsidiaries, the interest rate risk on variable rate debt, and the returns on
 
our SERP and DCP.
 
Our risk
management policy requires that derivative contracts used as hedges be
 
effective at reducing the risks associated
with the exposure being hedged and be designated hedges at inception
 
of the contracts.
 
We do not enter into
derivative instruments for speculative purposes.
 
Our derivative instruments primarily include foreign currency
forward contracts, total return swaps, and interest rate swaps.
 
Foreign currency forward agreements related to forecasted inventory
 
purchase commitments with foreign suppliers,
foreign currency swaps related to foreign currency denominated debt, and
 
interest rate swaps related to variable rate
debt are designated as cash flow hedges.
 
For derivatives that are designated and qualify as cash flow hedges,
 
the
changes in the fair value of the derivatives are recorded as a
 
component of Accumulated other comprehensive
income in stockholders’ equity and subsequently reclassified into
 
earnings in the period(s) during which the hedged
transactions affect earnings.
 
We classify the cash flows related to our hedging activities in the same category in our
consolidated statements of cash flows as the cash flows related
 
to the hedged item.
Foreign currency forward contracts related to our euro-denominated
 
foreign operations are designated as net
investment hedges.
 
For derivatives that are designated and qualify as net investment
 
hedges, changes in the fair
value of the derivatives are recorded in the foreign currency translation gain
 
(loss) component of Accumulated
other comprehensive income in stockholders’ equity until the net
 
investment is sold or substantially liquidated.
Interest swap agreements are entered into for the purpose of hedging
 
the cash flow of our variable interest rate term
loan.
Our foreign currency forward agreements related to foreign currency
 
balance sheet exposure provide economic
hedges but are not designated as hedges for accounting purposes.
For agreements not designated as hedges, changes in the value of the derivative,
 
along with the transaction gain or
loss on the hedged item, are recorded in other, net, within our consolidated statements of income.
Total return swaps are entered into for the purpose of economically hedging our SERP and DCP.
 
These swaps are
expected to be renewed on an annual basis.
 
Changes in the fair values of these total return swaps are recorded in
selling, general, and administrative expenses within our consolidated
 
statements of income and offset recognized
changes in the fair values of our SERP and DCP liabilities.
Foreign Currency Translation
 
and Transactions
The financial position and results of operations of our foreign subsidiaries
 
are determined using local currencies as
the functional currencies.
 
Assets and liabilities of foreign subsidiaries are translated at the exchange
 
rate in effect at
each year-end.
 
Income statement accounts are translated at the average rate
 
of exchange prevailing during the year.
 
Translation adjustments arising from the use of differing exchange rates from period to period are included
 
in
Accumulated other comprehensive income in stockholders’ equity.
 
Gains and losses resulting from foreign
currency transactions are included in earnings.
Accounting Pronouncements Adopted
 
During the year ended December 28, 2024, we adopted Accounting Standards
 
Update (“ASU”) 2023-07, “
Segment
Reporting (Topic 280): Improvements to Reportable Segments
” (“Topic 280”),
 
which aims to improve financial
reporting by requiring disclosure of incremental segment information on an annual
 
and interim basis for all public
entities to enable investors to develop more decision-useful financial analyses.
 
The amendments in Topic 280 do
not change how a public entity identifies its operating segments, aggregates
 
those operating segments, or applies
the quantitative thresholds to determine its reportable segments.
 
We adopted Topic
 
280 on a retrospective basis,
which resulted in the required additional disclosures included in our 2024
 
fiscal year annual consolidated financial
statements.
 
During the year ended December 30, 2023, we adopted ASC Topic 848,
“Reference Rate Reform” (Topic 848):
Facilitation of the Effects of Reference Rate Reform on Financial Reporting”
 
which provides optional expedients
and exceptions for applying GAAP to contracts, hedging relationships and
 
other transactions affected by the
discontinuation of the London Interbank Offered Rate or by another reference rate
 
expected to be discontinued
because of reference rate reform.
 
The adoption of Topic 848 did not have a material impact on our consolidated
financial statements.
Recently Issued Accounting Standards
In November 2024, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update
(“ASU”) 2024-03, “
Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosure
(Subtopic 220-40)
:
Disaggregation of Income Statement Expenses
,” which requires additional disclosure about the
specific expense categories in the notes to financial statements at interim and
 
annual reporting periods.
 
The
amendments in this ASU do not change or remove current expense
 
disclosure requirements but affect where this
information appears in the notes to financial statements.
 
This ASU is effective for annual reporting periods
beginning after December 15, 2026, and interim reporting periods beginning
 
after December 15, 2027, with early
adoption permitted.
 
Upon adoption, the guidance can be applied prospectively or retrospectively.
 
We are currently
evaluating the impact that ASU 2024-03 will have on our consolidated
 
financial statements.
In March 2024, the FASB issued ASU 2024-01, “
Compensation - Stock Compensation (Topic 718): Scope
Application of Profits Interest and Similar Awards,
” which clarifies how to determine whether profits interest and
similar awards should be accounted for as a share-based payment arrangement
 
under Topic 718 or within the scope
of other guidance.
 
The ASU provides an illustrative example with multiple fact patterns
 
and amends the structure
of paragraph 718-10-15-3 of Topic 718 to improve its clarity and operability.
 
The guidance in ASU 2024-01
applies to all entities that issue profits interest awards as compensation
 
to employees or nonemployees in exchange
for goods or services.
 
Entities can apply the amendments either retrospectively to
 
all periods presented in the
financial statements or prospectively to profits interest awards granted
 
or modified on or after the date of adoption.
 
If prospective application is elected, an entity must disclose the nature
 
of and reason for the change in accounting
principle that resulted from the adoption of the ASU.
 
This ASU is effective for fiscal years beginning after
 
 
December 15, 2024, including interim periods within those fiscal years.
 
We do not expect that the requirements of
ASU 2024-01 will have a material impact on our consolidated financial
 
statements.
In December 2023, the FASB issued ASU 2023-09, “
Income Taxes (Topic
 
740): Improvements to Income Tax
Disclosures
,” which requires public business entities to disclose additional
 
information in specified categories with
respect to the reconciliation of the effective tax rate to the statutory rate for federal, state and
 
foreign income taxes.
 
It also requires greater detail about individual reconciling items in
 
the rate reconciliation to the extent the impact of
those items exceeds a specified threshold.
 
In addition to new disclosures associated with the rate reconciliation,
 
the
ASU requires information pertaining to taxes paid (net of refunds received)
 
to be disaggregated for federal, state,
and foreign taxes and further disaggregated for specific jurisdictions
 
to the extent the related amounts exceed a
quantitative threshold.
 
The ASU also describes items that need to be disaggregated
 
based on their nature, which is
determined by reference to the item’s fundamental or essential characteristics, such as the transaction or event
 
that
triggered the establishment of the reconciling item and the activity with which
 
the reconciling item is associated.
 
The ASU eliminates the historic requirement that entities disclose information
 
concerning unrecognized tax
benefits having a reasonable possibility of significantly increasing
 
or decreasing in the 12 months following the
reporting date.
 
This ASU is effective for annual periods beginning after December 15, 2024.
 
Early adoption is
permitted for annual financial statements that have not yet been
 
issued or made available for issuance.
 
This ASU
should be applied on a prospective basis; however, retrospective application is permitted.
 
We are currently
evaluating the impact that ASU 2023-09 will have on our consolidated
 
financial statements.
v3.25.0.1
Cyber Incident
 12 Months Ended
Dec. 28, 2024
Cyber Incident [Abstract]  
Cyber Incident
Note 2 – Cyber Incident
In October 2023 Henry Schein experienced a cyber incident that primarily
 
affected the operations of our North
American and European dental and medical distribution businesses.
 
Henry Schein One, our practice management
software, revenue cycle management and patient relationship management
 
solutions business, was not affected, and
our manufacturing businesses were mostly unaffected.
 
On November 22, 2023, we experienced a disruption of our
ecommerce platform and related applications, which was remediated.
During the years ended December 28, 2024 and December 30, 2023, we had
 
a sales decrease in our dental and
medical distribution businesses, which we believe was primarily a
 
result of lower sales to episodic customers
following last year’s cyber incident.
During the years ended December 28, 2024 and December 30, 2023, we incurred
 
$
9
 
million and $
11
 
million,
respectively, of expenses directly related to the cyber incident, mostly consisting of professional fees.
 
We maintain
cyber insurance, subject to certain retentions and policy limitations.
 
With respect to the October 2023 cyber
incident, we have a $
60
 
million insurance policy, following a $
5
 
million retention.
 
During the years ended
December 28, 2024 we received insurance proceeds of $
40
 
million under this policy representing a partial
insurance recovery of losses related to the cyber incident, with the remaining
 
$
20
 
million of the claim being under
review by our insurance providers.
 
The expenses and insurance recoveries related to the cyber
 
incident are
included in the selling, general and administrative line in our consolidated
 
statements of income.
v3.25.0.1
Net Sales from Contracts with Customers
 12 Months Ended
Dec. 28, 2024
Net Sales from Contracts with Customers [Abstract]  
Net Sales from Contracts with Customers
Note 3 – Net Sales from Contracts with Customers
 
Net sales are recognized in accordance with policies disclosed
 
in
Disaggregation of Net Sales
As noted further in
 
during the fourth quarter of our fiscal year ended
December 28, 2024, we revised our reportable segments to align with how
 
the Chairman and Chief Executive
Officer manages the business, assesses performance and allocates resources.
 
All prior comparative segment
information has been recast to reflect our new segment structure.
The following table disaggregates our net sales by reportable and operating segment
 
and geographic area:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Years
 
Ended
 
December 28,
2024
December 30,
2023
December 31,
2022
Net Sales:
Global Distribution and Value
 
-Added Services
Global Dental merchandise
$
4,727
$
4,787
$
4,763
Global Dental equipment
1,719
1,671
1,715
Global Value
 
-added services
233
191
151
Global Dental
6,679
6,649
6,629
Global Medical
 
4,081
3,912
4,346
Total Global Distribution
 
and Value
 
-Added Services
10,760
10,561
10,975
Global Specialty Products
1,446
1,331
1,273
Global Technology
630
602
549
Eliminations
(163)
(155)
(150)
Total
$
12,673
$
12,339
$
12,647
v3.25.0.1
Segment and Geographic Data
 12 Months Ended
Dec. 28, 2024
Segment and Geographic Data [Abstract]  
Segment and Geographic Data
Note 4 – Segment and Geographic Data
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
During the fourth quarter of our fiscal year ended December 28, 2024,
 
we revised our reportable segments to align
with how the Chairman and Chief Executive Officer manages the business, assesses
 
performance and allocates
resources.
 
Our revised reportable segments now consist of: (i) Global Distribution
 
and Value
 
-Added Services; (ii)
Global Specialty Products; and (iii) Global Technology.
 
These segments offer different products and services to
the same customer base.
 
All prior comparative segment information has been recast
 
to reflect our new segment
structure.
We aggregate operating segments into these reportable segments based on economic similarities, the nature of their
products, customer base, and methods of distribution.
 
Global Distribution and Value-Added Services includes
merchandise and equipment distribution businesses that serve the global dental
 
and medical markets; it also
includes value-added services such as equipment repair services, financial
 
services on a non-recourse basis,
continuing education services for practitioners, consulting and other
 
services.
 
Global Distribution and Value-Added Services includes distribution to the global dental and medical markets of
national brand and corporate brand merchandise, as well as equipment and related
 
technical services.
 
This segment
also includes value-added services such as financial services, continuing
 
education services, consulting and other
services.
 
This segment also markets and sells under our own corporate brand,
 
a portfolio of cost-effective, high-
quality consumable merchandise.
 
Global Specialty Products includes manufacturing, marketing and sales
 
of dental
implant and biomaterial products; and endodontic, orthodontic and orthopedic
 
products and other health care-
related products and services.
 
Global Technology includes development and distribution of practice management
software, e-services, and other products, which are distributed to health
 
care providers.
Our organizational structure also includes Corporate, which consists primarily of
 
income and expenses associated
with support functions and projects.
Our chief operating decision maker (“CODM”) is our Chairman
 
and Chief Executive Officer.
 
Our CODM uses
adjusted operating income as the profitability metric for purposes of making
 
decisions about allocation of resources
to each segment and assessing performance of each segment.
 
Adjusted operating income provides a measure of our
underlying segment results that is in line with our approach to risk and performance
 
management.
 
We define
adjusted operating income as operating income adjusted to exclude
 
(a) direct cybersecurity costs and related
insurance recovery proceeds, (b) impairment of capitalized assets, (c)
 
amortization of acquisition intangibles, (d)
settlement and litigation, (e) organizational restructuring expenses, (f) impairment
 
of intangible assets, (g) changes
in fair value of contingent consideration, and (h) costs associated with
 
shareholder advisory matters.
 
These
adjustments are either: (i) non-cash or non-recurring in nature; (ii) not allocable
 
or controlled by the segment; or
(iii) not tied to the operational performance of the segment.
 
Assets by segment are not a measure used to assess the
performance of the Company by CODM and thus are not reported in
 
our disclosures.
The accounting policies of the reportable segments are generally
 
the same as those described in
 
 
 
Sales and transfers between operating segments are eliminated
in consolidation.
Segment adjusted operating income is presented in the following
 
table to reconcile to operating income as
presented on the consolidated statement of operations.
 
The reconciliation from operating income to income before
taxes and equity in earnings of affiliates is presented on our consolidated statements
 
of income.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Years Ended
December 28,
December 30,
December 31,
2024
2023
2022
Gross Sales:
Global Distribution and Value
 
-Added Services
(1)
$
10,760
$
10,561
$
10,975
Global Specialty Products
(2)
1,446
1,331
1,273
Global Technology
(3)
630
602
549
Total Gross Sales
12,836
12,494
12,797
Less: Eliminations:
Global Distribution and Value
 
-Added Services
 
(31)
(36)
(22)
Global Specialty Products
(132)
(119)
(128)
Total eliminations
(163)
(155)
(150)
Net Sales
Global Distribution and Value
 
-Added Services
 
10,729
10,525
10,953
Global Specialty Products
 
1,314
1,212
1,145
Global Technology
630
602
549
Total Net Sales
$
12,673
$
12,339
$
12,647
Years Ended
December 28,
December 30,
December 31,
2024
2023
2022
Operating Income
Global Distribution and Value
 
-Added Services
$
696
$
665
$
833
Global Specialty Products
178
175
192
Global Technology
152
142
125
Total Segment Operating Income
1,026
982
1,150
Corporate
(77)
(92)
(112)
Adjustments
(4)
(328)
(275)
(291)
Total Operating Income
$
621
$
615
$
747
Depreciation and Amortization
Global Distribution and Value
 
-Added Services
$
141
$
122
$
112
Global Specialty Products
110
80
61
Global Technology
46
46
39
Total
$
297
$
248
$
212
Global Distribution and Value
 
-Added Services: Includes distribution of infection-control products, handpieces, preventatives,
impression materials, composites, anesthetics, teeth, gypsum, acrylics, articulators, abrasives, PPE products, branded and generic
pharmaceuticals, vaccines, surgical products, diagnostic tests, dental chairs, delivery units and lights, digital dental laboratories, X-
ray supplies and equipment, high-tech and digital restoration equipment, equipment repair services, financial services on a non-
recourse basis, continuing education services for practitioners, consulting and other services.
 
This segment also markets and sells
under our own corporate brand, a portfolio of cost-effective, high-quality consumable merchandise.
(2)
Global Specialty Products: Includes manufacturing, marketing and sales of dental implant and biomaterial products; and
endodontic, orthodontic and orthopedic products and other health care-related products and services.
(3)
Global Technology: Includes development and distribution of practice management software, e-services, and other products, which
are distributed to health care providers.
Adjustments represent items excluded from segment operating income to enable comparison of financial results between periods.
 
The following table presents a breakdown of such adjustments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Years Ended
December 28,
December 30,
December 31,
2024
2023
2022
Adjustments:
Restructuring costs
$
(110)
$
(80)
$
(131)
Acquisition intangible amortization
(184)
(150)
(126)
Cyber incident-third-party advisory expenses, net of insurance
31
(11)
-
Changes in contingent consideration
(45)
-
-
Litigation settlements
(6)
-
-
Impairment of capitalized assets
(12)
(27)
-
Impairment of intangible assets
-
(7)
(34)
Costs associated with shareholder advisory matters
(2)
-
-
Total adjustments
$
(328)
$
(275)
$
(291)
The following table presents information about our operations by geographic
 
area as of and for the years ended
December 28, 2024, December 30, 2023 and December 31, 2022.
 
Net sales by geographic area are based on the
respective locations of our subsidiaries.
 
No country, except for the United States, generated net sales greater than
10
% of consolidated net sales.
 
There were no material amounts of sales or transfers among geographic
 
areas and
there were no material amounts of export sales.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2024
2023
2022
Net Sales
Long-Lived
Assets
Net Sales
Long-Lived
Assets
Net Sales
Long-Lived
Assets
United States
 
$
8,803
$
3,453
$
8,641
$
3,273
$
9,197
$
2,730
Other
 
3,870
2,281
3,698
2,341
3,450
1,417
Consolidated total
 
$
12,673
$
5,734
$
12,339
$
5,614
$
12,647
$
4,147
v3.25.0.1
Business Acquisitions
 12 Months Ended
Dec. 28, 2024
Business Acquisitions [Abstract]  
Business Acquisitions
Note 5 – Business Acquisitions
Our acquisition strategy is focused on investments in companies that
 
add new customers and sales teams, increase
our geographic footprint (whether entering a new country, such as emerging markets, or building scale where we
have already invested in businesses), and finally, those that enable us to access new products and technologies.
Acquisition of TriMed
On April 1, 2024, we acquired a
60
% voting equity interest in TriMed Inc. (“TriMed”), a global developer of
solutions for the orthopedic treatment of lower and upper extremities, headquartered
 
in California,
 
for consideration
of $
315
 
million.
 
This acquisition is reported in our Global Specialty Products segment.
 
During the year ended
December 28, 2024, we completed the accounting for this acquisition.
 
The following table aggregates the final fair
value, as of the date of the acquisition, of consideration paid and net
 
assets acquired in the TriMed acquisition:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Final Allocation
Acquisition consideration:
Cash
$
141
Deferred consideration
21
Redeemable noncontrolling interests
153
Total consideration
$
315
Identifiable assets acquired and liabilities assumed:
Current assets
$
35
Intangible assets
221
Other noncurrent assets
10
Current liabilities
(7)
Deferred income taxes
(62)
Other noncurrent liabilities
(6)
Total identifiable
 
net assets
191
Goodwill
124
Total net assets acquired
$
315
Goodwill is a result of synergies that are expected to originate from the acquisition as well as
 
the expected growth
potential of TriMed.
 
The acquired goodwill is not deductible for tax purposes.
The following table summarizes the identifiable intangible assets acquired
 
as part of the acquisition of TriMed:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2024
Weighted Average
 
Useful
Lives (in years)
Product development
$
204
9
Trademarks / Tradenames
9
7
In process research & development
8
Not Applicable
Total
$
221
Except for in-process research and development (“IPR&D”), intangible assets
 
acquired as a result of the TriMed
acquisition are being amortized over their estimated useful lives
 
using the straight-line method of amortization.
 
The IPR&D is accounted for as an indefinite-lived intangible asset and
 
is not amortized until completion or
abandonment of the associated research and development efforts.
 
IPR&D is tested for impairment annually or
periodically if an indicator of impairment exists during the period until completion.
 
 
Pro forma financial information and TriMed’s revenue and earnings since the acquisition date have not been
presented because the impact of the TriMed acquisition during the year ended December
 
28, 2024 was immaterial
to our consolidated financial statements.
Other 2024 Acquisitions
During the year ended December 28, 2024, we acquired companies within
 
the Global Distribution and Value-
Added Services, Global Specialty Products, and Global Technology segments.
 
Our acquired ownership interest in
these companies range from
51
% to
100
%.
 
Total consideration for these acquisitions was $
113
 
million (including
cash paid of $
62
 
million, fair value of previously held equity investment of
 
$
30
 
million, noncontrolling interest of
$
18
 
million, estimated fair value of contingent consideration payable of
 
$
2
 
million, and deferred consideration of
$
1
 
million).
 
Net assets acquired primarily consisted of $
59
 
million of goodwill and $
64
 
million of intangible
assets.
 
The intangible assets acquired consisted of customer relationships
 
and lists of $
33
 
million, trademarks and
tradenames of $
24
 
million, product development of $
5
 
million and non-compete agreements of $
2
 
million.
 
Weighted average useful lives for these acquired intangible assets were
11 years
,
7 years
,
9 years
 
and
5 years
,
respectively.
During the year ended December 28, 2024, we completed the accounting
 
for certain acquisitions that occurred in
fiscal year 2024 and we did not record any material measurement period
 
adjustments related to these acquisitions.
 
The accounting for other acquisitions in fiscal year 2024 has not been
 
completed in several areas, including but not
limited to pending assessment of current expected credit losses.
Goodwill is a result of the synergies and cross-selling opportunities that these acquisitions
 
are expected to provide
for us, as well as the expected growth potential.
 
The majority of the acquired goodwill is not deductible
 
for tax
purposes.
During the year ended December 28, 2024, in connection with an acquisition
 
of a controlling interest of an affiliate,
we recognized a gain of approximately $
19
 
million related to the remeasurement to fair value of our previously
held equity investment, using a discounted cash flow model based on
 
Level 3 inputs, as defined in
 
 
which was recorded in selling, general and administrative
 
in the consolidated statements of
income.
 
The impact of these acquisitions, individually and in the aggregate, was
 
not considered material to our consolidated
financial statements.
2023 Acquisitions
Acquisition of Shield Healthcare
On October 2, 2023, we acquired a
90
% voting equity interest in Shield Healthcare, Inc. (“Shield”), a
 
supplier of
homecare medical products delivered directly to patients in their homes,
 
for consideration of $
348
 
million.
 
This
acquisition is reported in our Global Distribution and Value-Added Services segment.
 
Shield expands our existing
medical business by delivering a diverse range of products, including
 
items such as incontinence, urology, ostomy,
enteral nutrition, advanced wound care and diabetes supplies.
 
Additionally, Shield offers continuous glucose
monitoring devices directly to patients in their homes.
During the year ended December 28, 2024, we completed the accounting
 
for our acquisition of Shield.
 
The
following table aggregates the final fair value, as of the date of the acquisition,
 
of consideration paid and net assets
acquired in the Shield acquisition:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Final Allocation
Acquisition consideration:
Cash
$
289
Deferred consideration
22
Redeemable noncontrolling interests
37
Total consideration
$
348
Identifiable assets acquired and liabilities assumed:
Current assets
$
41
Intangible assets
166
Other noncurrent assets
16
Current liabilities
(24)
Deferred income taxes
(43)
Other noncurrent liabilities
(7)
Total identifiable
 
net assets
149
Goodwill
199
Total net assets acquired
$
348
Goodwill is a result of synergies that are expected to originate from the acquisition as well as
 
the expected growth
potential of Shield.
 
The acquired goodwill is not deductible for tax purposes.
The following table summarizes the identifiable intangible assets acquired
 
as part of the acquisition of Shield:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2023
Weighted Average
 
Useful
Lives (in years)
Customer relationships and lists
$
156
12
Trademarks / Tradenames
10
5
Total
$
166
Pro forma financial information and Shield’s revenue and earnings from the acquisition date have
 
 
not been presented because the impact of the Shield acquisition was
 
immaterial to our consolidated financial
statements.
Acquisition of S.I.N. Implant System
On July 5, 2023, we acquired a
100
% voting equity interest in S.I.N. Implant System (“S.I.N.”) for consideration of
$
329
 
million.
 
This acquisition is reported in our Global Specialty Products segment.
 
Based in São Paulo, S.I.N.
manufactures an extensive line of products to perform dental implant procedures
 
and is focused on advancing the
development of value-priced dental implants.
 
In 2023, S.I.N. expanded the distribution of its products into the
United States and other international markets.
During the year ended December 28, 2024, we completed the accounting
 
for our acquisition of S.I.N.
 
The
following table aggregates the final fair value, as of the date of acquisition,
 
of consideration paid and net assets
acquired in the S.I.N. acquisition:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Final Allocation
Acquisition consideration:
Cash
$
329
Total consideration
$
329
Identifiable assets acquired and liabilities assumed:
Current assets
$
73
Intangible assets
87
Other noncurrent assets
48
Current liabilities
(33)
Long-term debt
(22)
Deferred income taxes
(38)
Other noncurrent liabilities
(27)
Total identifiable
 
net assets
88
Goodwill
241
Total net assets acquired
$
329
Goodwill is a result of synergies that are expected to originate from the acquisition as well as
 
the expected growth
potential of S.I.N.
 
The acquired goodwill is not deductible for tax purposes.
The following table summarizes the identifiable intangible assets acquired
 
as part of the acquisition of S.I.N.:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2023
Weighted Average
 
Useful
Lives (in years)
Customer relationships and lists
$
38
7
Product development
36
8
Trademarks / Tradenames
13
10
Total
$
87
Pro forma financial information and S.I.N.’s revenue and earnings from the acquisition date have not been
presented because the impact of the S.I.N. acquisition was immaterial
 
to our consolidated financial statements.
Acquisition of Biotech Dental
On April 5, 2023, we acquired a
57
% voting equity interest in Biotech Dental, a provider of dental implants,
 
clear
aligners, individualized prosthetics and innovative digital dental software based
 
in France, for preliminary
consideration of $
423
 
million.
 
This acquisition is reported in our Global Specialty Products
 
segment.
 
Biotech
Dental has several important solutions for dental practices and dental
 
labs, including Nemotec, a comprehensive,
integrated suite of planning and diagnostic software using open architecture
 
that connects disparate medical devices
to create a digital view of the patient, offering greater diagnostic accuracy and an
 
improved patient experience.
During the year ended December 28, 2024, we completed the accounting
 
for our acquisition of Biotech Dental.
 
The following table aggregates the final fair value, as of the date of acquisition,
 
of consideration paid and net assets
acquired in the Biotech Dental acquisition:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Final Allocation
Acquisition consideration:
Cash
$
216
Fair value of contributed equity share in a controlled subsidiary
25
Redeemable noncontrolling interests
182
Total consideration
$
423
Identifiable assets acquired and liabilities assumed:
Current assets
$
74
Intangible assets
189
Other noncurrent assets
69
Current liabilities
(60)
Long-term debt
(73)
Deferred income taxes
(53)
Other noncurrent liabilities
(20)
Total identifiable
 
net assets
126
Goodwill
297
Total net assets acquired
$
423
Goodwill is a result of synergies that are expected to originate from the acquisition as well as
 
the expected growth
potential of Biotech Dental.
 
The acquired goodwill is not deductible for tax purposes.
The following table summarizes the identifiable intangible assets acquired
 
as part of the acquisition of Biotech
Dental:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2023
Weighted Average
 
Useful
Lives (in years)
Product development
$
124
10
Customer relationships and lists
47
9
Trademarks / Tradenames
18
7
Total
$
189
Pro forma financial information and Biotech’s revenues and earnings from the acquisition date have not been
presented because the impact of the Biotech Dental acquisition was immaterial
 
to our consolidated financial
statements.
Other 2023 Acquisitions
During the year ended December 30, 2023, in addition to those noted above,
 
we acquired companies within the
Global Distribution and Value-Added Services, Global Specialty Products, and Global Technology segments for
total consideration of $
284
 
million.
 
Our acquired ownership interest ranged between
51
% to
100
%.
 
During the
year ended December 28, 2024, we recorded an adjustment of $
38
 
million, within selling, general and
administrative in our consolidated statements of income, representing a change
 
in the fair value of contingent
consideration related to a 2023 acquisition.
During the year ended December 28, 2024, we completed the accounting
 
for certain fiscal year 2023 acquisitions.
 
In relation to these acquisitions, we did not record material adjustments
 
in our consolidated financial statements
relating to changes in estimated values of assets acquired, liabilities
 
assumed and contingent consideration assets
and liabilities.
Goodwill of $
171
 
million from these acquisitions is a result of the synergies and cross-selling opportunities
 
that
these acquisitions are expected to provide for us, as well as the expected
 
growth potential.
 
The majority of the
acquired goodwill is deductible for tax purposes. Intangible assets of
 
$
116
 
million, consisting of $
79
 
million of
customer relationships and lists, $
8
 
million of trademarks and tradenames, $
7
 
million of product development, and
other of $
22
 
million are being amortized over their weighted average useful lives that
 
range from
two years
 
to
ten
years
.
 
Pro forma financial information for our 2023 acquisitions has not been
 
presented because the impact of the
acquisitions was immaterial to our consolidated financial statements.
2022 Acquisitions
During the year ended December 31, 2022, we acquired companies within
 
the Global Distribution and Value-
Added Services, Global Specialty Products, and Global Technology segments.
 
Our acquired ownership interest
ranged between
55
% to
100
%.
 
For the years ended December 30, 2023 and December 31, 2022,
 
there were no
material adjustments recorded in our financial statements relating
 
to acquisitions for which provisional amounts
were recorded in prior periods.
 
During the year ended December 28, 2024, we recorded an
 
adjustment of $
7
million, within selling, general and administrative in our consolidated statements
 
of income, representing a change
in the fair value of contingent consideration related to a 2022 acquisition.
Goodwill of $
86
 
million is a result of the synergies and cross-selling opportunities that these acquisitions
 
are
expected to provide for us, as well as the expected growth potential.
 
Approximately half of the acquired goodwill
is deductible for tax purposes.
 
Intangible assets of $
96
 
million, consisting of $
81
 
million of customer relationships
and lists, $
9
 
million of trademarks and tradenames, and other of $
6
 
million are being amortized over their weighted
average useful lives that range from
two years
 
to
ten years
.
Pro forma financial information for our 2022 acquisitions has not been
 
presented because the impact of the
acquisitions was immaterial to our consolidated financial statements.
Acquisition Costs
 
During the years ended December 28, 2024, December 30, 2023
 
and December 31, 2022 we incurred $
6
 
million,
$
22
 
million and $
9
 
million in acquisition costs, respectively.
 
These costs are included in selling, general and
administrative in our consolidated statements of income.
v3.25.0.1
Inventories, Net
 12 Months Ended
Dec. 28, 2024
Inventories, Net [Abstract]  
Inventories, Net
Note 6 – Inventories, Net
Inventories, net consisted of the following as of:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
December 28,
2024
December 30,
2023
Finished goods
$
1,710
$
1,724
Raw materials
61
54
Work-in process
39
37
Inventories, net
$
1,810
$
1,815
Our inventory reserve was $
132
 
million and $
192
 
million as of December 28, 2024 and December 30, 2023,
respectively.
v3.25.0.1
Property and Equipment, Net
 12 Months Ended
Dec. 28, 2024
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net
Note 7 – Property and Equipment, Net
Property and equipment, including related estimated useful lives, consisted
 
of the following as of:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 28,
December 30,
2024
2023
Land
 
$
20
$
21
Buildings and permanent improvements
 
164
166
Leasehold improvements
 
109
103
Machinery and warehouse equipment
 
257
250
Furniture, fixtures and other
 
128
130
Computer equipment and software
 
523
500
1,201
1,170
Less accumulated depreciation and amortization
(670)
(672)
Property and equipment, net
 
$
531
$
498
Estimated Useful
Lives (in years)
Buildings and permanent improvements
 
40
Machinery and warehouse equipment
 
5
-
15
Furniture, fixtures and other
 
3
-
10
Computer equipment and software
 
3
-
10
Leasehold improvements are amortized on a straight-line basis over
 
the lesser of the useful life of the assets or the
remaining lease term.
Property and equipment related depreciation expense for the years
 
ended December 28, 2024, December 30, 2023
and December 31, 2022, was $
83
 
million, $
70
 
million and $
68
 
million, respectively.
 
Please see
 
for
finance lease amounts included in property and equipment, net within our
 
consolidated balance sheets.
During the year ended December 30, 2023 we recorded a $
27
 
million impairment of capitalized software, within
our Global Distribution and Value-Added Services segment.
v3.25.0.1
Leases
 12 Months Ended
Dec. 28, 2024
Leases [Abstract]  
Leases
Note 8 – Leases
We have operating and finance leases for corporate offices, office space, distribution and other facilities, vehicles
and certain equipment.
 
Our leases have remaining terms of less than
one year
 
to approximately
17
 
years, some of
which may include options to extend the leases for up to
15
 
years.
 
The components of lease expense were as
follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Years
 
Ended
December 28,
December 30,
December 31,
2024
2023
2022
Operating lease cost:
$
107
$
99
$
132
Variable
 
lease cost
12
12
11
Short-term lease cost
11
10
7
Total operating lease cost
 
(1)
130
121
150
Finance lease cost
4
5
3
Total lease cost
$
134
$
126
$
153
(1)
Total operating lease cost for the years ended December 28, 2024, December 30, 2023 and December 31, 2022, included costs of
$
17
 
million, $
11
 
million and $
42
 
million, respectively, related to facility leases recorded in "Restructuring and integration costs"
within our consolidated statements of income.
Further, for the years ended December 28, 2024, December 30, 2023 and December 31, 2022, we recognized
 
a net
impairment of operating lease right-of-use assets of $
0
 
million, $
3
 
million, and $
3
 
million respectively, related to
facility leases recorded in “Restructuring and integration costs” within our consolidated
 
statement of income.
Supplemental balance sheet information related to leases is as follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Years
 
Ended
December 28,
December 30,
2024
2023
Operating Leases:
Operating lease right-of-use assets
$
293
$
325
Current operating lease liabilities
75
80
Non-current operating lease liabilities
259
310
Total operating lease liabilities
$
334
$
390
Finance Leases:
Property and equipment, at cost
$
16
$
18
Accumulated depreciation
(9)
(9)
Property and equipment, net of accumulated depreciation
$
7
$
9
Current maturities of long-term debt
$
3
$
4
Long-term debt
3
4
Total finance
 
lease liabilities
$
6
$
8
Weighted Average
 
Remaining Lease Term in
 
Years:
Operating leases
5.9
6.6
Finance leases
2.7
2.6
Weighted
 
Average Discount
 
Rate:
Operating leases
4.2
%
3.6
%
Finance leases
4.4
%
4.0
%
Supplemental cash flow information related to leases is as follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Years
 
Ended
December 28,
December 30,
2024
2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases
$
94
$
92
Financing cash flows for finance leases
4
5
Right-of-use assets obtained in exchange for lease obligations:
Operating leases
 
$
76
$
124
Finance leases
2
4
Maturities of lease liabilities are as follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 28, 2024
Operating
Finance
Leases
Leases
2025
$
87
$
3
2026
74
2
2027
56
1
2028
43
1
2029
37
-
Thereafter
81
-
Total future
 
lease payments
378
7
Less imputed interest
44
1
Total
$
334
$
6
As of December 28, 2024, we have additional operating leases that have
 
not yet commenced with total lease
payments of $
7
 
million for buildings and vehicles.
 
These operating leases will commence after December 28,
2024, with lease terms of
two years
 
to
five years
.
Certain of our facilities related to our acquisitions are leased from
 
employees and minority shareholders.
 
These
leases are classified as operating leases and have a remaining lease term
 
ranging from less than a year to
13 years
.
 
As of December 28, 2024, current and non-current liabilities associated
 
with related party operating leases were $
6
million and $
20
 
million, respectively.
 
At December 28, 2024 related party leases represented
7.6
% and
7.8
% of the
total current and non-current operating lease liabilities, respectively.
 
As of December 30, 2023, current and non-
current liabilities associated with related party operating leases were
 
$
5
 
million and $
23
 
million, respectively.
 
At
December 30, 2023 related party leases represented
6.3
% and
7.4
% of the total current and non-current operating
lease liabilities, respectively.
v3.25.0.1
Goodwill and Other Intangibles, Net
 12 Months Ended
Dec. 28, 2024
Goodwill and Other Intangibles, Net [Abstract]  
Goodwill and Other Intangibles, Net
Note 9 – Goodwill and Other Intangibles, Net
Changes in the carrying amounts
 
of goodwill for the years ended December 28, 2024 and December
 
30, 2023 were
as follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Global
Distribution and
Value-Added
Services
Global Specialty
Products
Global
Technology
Total
Balance as of December 31, 2022
 
$
1,652
$
481
$
760
$
2,893
Adjustments to goodwill:
-
-
-
Acquisitions
 
338
578
29
945
Foreign currency translation
 
17
18
2
37
Balance as of December 30, 2023
 
2,007
1,077
791
3,875
Adjustments to goodwill:
Acquisitions
 
41
107
-
148
Disposal
-
(11)
(2)
(13)
Foreign currency translation
 
(39)
(80)
(4)
(123)
Balance as of December 28, 2024
 
$
2,009
$
1,093
$
785
$
3,887
 
During the fourth quarter of our fiscal year ended December 28, 2024,
 
we revised our segment structure to align
with how our Chairman and Chief Executive Officer manages the business, assesses
 
performance and allocates
resources.
 
Our revised reportable segments now consist of: (i) Global Distribution
 
and Value
 
-Added Services; (ii)
Global Specialty Products; and (iii) Global Technology.
 
Reporting units under the former structure were tested for
impairment, and no impairment was identified.
 
As a result of the realignment and the change in operating
segments, we reallocated goodwill to each of our new reporting units using
 
a relative fair value approach.
 
Based on
the impairment test under the new structure, it was determined that the fair values
 
of our reporting units more likely
than not exceeded their carrying values, resulting in no impairment.
 
For both the former and new structure
goodwill impairment tests as of September 30, 2024, the fair values of reporting
 
units were computed using the
methodology described in
In connection with our restructuring initiatives, during the year ended
 
December 28, 2024, we recorded an $
11
million impairment of goodwill in the Global Specialty Products segment,
 
relating to the disposal of a portion of a
business; such impairment was calculated based on the relative fair value
 
of goodwill.
 
For the year ended
December 31, 2022, in connection with our restructuring initiatives, we
 
recorded a $
20
 
million impairment of
goodwill, in the Global Specialty Products segment, relating to the disposal
 
of an unprofitable business for which
estimated fair value was lower than carrying value.
Other intangible assets consisted of the following:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 28, 2024
Weighted Average
Accumulated
Remaining Life
Cost
Amortization
Net
(in years)
Customer relationships and lists
$
915
$
(356)
$
559
10
Trademarks / Tradenames
188
(89)
99
8
Product development
403
(71)
332
9
Non-compete agreements
21
(6)
15
4
Other
 
28
(10)
18
15
Total
 
$
1,555
$
(532)
$
1,023
December 30, 2023
Weighted Average
Accumulated
Remaining Life
Cost
Amortization
Net
(in years)
Customer relationships and lists
$
984
$
(346)
$
638
10
Trademarks / Tradenames
168
(69)
99
8
Product development
205
(62)
143
9
Non-compete agreements
21
(6)
15
5
Other
 
39
(18)
21
10
Total
 
$
1,417
$
(501)
$
916
Trademarks, trade names, customer lists and customer relationships were established through
 
business acquisitions
and are amortized on a straight-line basis over their respective asset life.
 
Non-compete agreements represent
amounts paid primarily to prior owners of acquired businesses and certain
 
sales persons, in exchange for placing
restrictions on their ability to pose a competitive risk to us.
 
Such amounts are amortized, on a straight-line basis
over the respective non-compete period, which generally commences upon
 
termination of employment or
separation from us.
Amortization expense, excluding impairment charges, related to definite-lived intangible assets
 
for the years ended
December 28, 2024, December 30, 2023 and December 31, 2022, was $
185
 
million, $
152
 
million and $
126
 
million,
respectively.
During the year ended December 28, 2024 we recorded $
4
 
million of impairment charges related to businesses in
our Global Distribution and Value-Added Services segment.
 
It included $
2
 
million of trade name impairment,
calculated using the relative fair value related to a
 
disposal of a business and $
1
 
million related to trade name
impairment due to business integration in connection with our restructuring
 
initiatives.
 
The remaining $
1
 
million
impairment charges related to trade names and non-compete agreements were calculated
 
as the differences between
the carrying values and the estimated fair values of the impaired intangible assets,
 
using a discounted estimate of
future cash flows.
During the year ended December 30, 2023 we recorded $
19
 
million of impairment charges related to businesses in
our Global Distribution and Value-Added Services segment, consisting of $
7
 
million primarily related to customer
lists and relationships attributable to lower than anticipated operating
 
margins in certain businesses, and a $
12
million charge related to the planned exit of a business in connection with our restructuring
 
initiatives.
 
These
impairment charges were calculated as the differences between the carrying values and the estimated
 
fair values
 
of
the impaired intangible assets, using a discounted estimate of future
 
cash flows.
During the year ended December 31, 2022 we recorded $
49
 
million of impairment charges related to businesses in
our Global Distribution and Value-Added Services segment, the components of which were a $
15
 
million charge
 
 
related to the disposal of an unprofitable business in connection with
 
our restructuring initiatives and a $
34
 
million
charge related to customer lists and relationships attributable to customer attrition
 
rates being higher than expected
in certain other distribution and value-added services businesses.
 
These impairment charges were calculated as the
differences between the carrying values and the estimated fair values of the impaired intangible
 
assets, using a
discounted estimate of future cash flows.
The above intangible asset impairment charges were recorded within selling, general
 
and administrative expenses
and in restructuring and integration charges in our consolidated statement of income.
The annual amortization expense expected to be recorded for existing
 
intangibles assets for the years 2025 through
2029 is $
168
 
million, $
151
 
million, $
139
 
million, $
122
 
million and $
108
 
million.
v3.25.0.1
Investments and Other
 12 Months Ended
Dec. 28, 2024
Investments and Other [Abstract]  
Investments and Other
Note 10 – Investments and Other
Investments and other consisted of the following:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 28,
December 30,
2024
2023
Investments in unconsolidated affiliates
 
$
170
$
180
Non-current deferred foreign, state and local income taxes
 
47
38
Notes receivable
(1)
63
44
Capitalized costs for software and cloud based applications for external use
90
95
Security deposits
 
4
4
Acquisition-related indemnification assets
39
46
Non-current pension assets
9
9
Non-current inventory
27
-
Other
52
55
Total
 
$
501
$
471
(1)
Long-term notes receivable carry interest rates ranging from
3.0
% to
11.0
% and are due in varying installments through
November 21, 2028
.
Amortization expense, related to capitalized costs for software to be sold,
 
leased or marketed to external users, and
for cloud-based applications used to deliver our services, for the years
 
ended December 28, 2024, December 30,
2023 and December 31, 2022, was $
29
 
million, $
26
 
million and $
18
 
million, respectively, and is included in the
selling, general and administrative line within our consolidated statements
 
of income.
During the year ended December 28, 2024 we recorded a $
12
 
million impairment of capitalized software costs,
within our Global Technology segment.
v3.25.0.1
Fair Value Measurements
 12 Months Ended
Dec. 28, 2024
Fair Value Measurements [Abstract]  
Fair Value Measurements
Note 11 – Fair Value
 
Measurements
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The following section describes the fair values of our financial instruments
 
and the methodologies that we used to
measure their fair values.
 
Investments and notes receivable
There are no quoted market prices available for investments in unconsolidated
 
affiliates and notes receivable.
 
Certain of our notes receivable contain variable interest rates.
 
We believe the carrying amounts of the notes
receivable are a reasonable estimate of fair value based on the interest rates
 
in the applicable markets.
 
Our notes
receivable fair value is based on Level 3 inputs within the fair value
 
hierarchy.
Debt
The fair value of our debt (including bank credit lines, current maturities
 
of long-term debt and long-term debt) is
based on Level 3 inputs within the fair value hierarchy, and as of December 28, 2024 and December 30, 2023 was
estimated at $
2,536
 
million and $
2,351
 
million, respectively.
 
Factors that we considered when estimating the fair
value of our debt include market conditions, such as interest rates and credit
 
spreads.
Derivative contracts
Derivative contracts are valued using quoted market prices and
 
significant other observable inputs.
 
Our derivative
instruments primarily include foreign currency forward contracts, interest
 
rate swaps, and total return swaps.
The fair values for the majority of our foreign currency derivative contracts
 
are obtained by comparing our contract
rate to a published forward price of the underlying market rates, which
 
are based on market rates for comparable
transactions that are classified within Level 2 of the fair value hierarchy.
The fair value of the interest rate swap, which is classified within Level 2
 
of the fair value hierarchy, is determined
by comparing our contract rate to a forward market rate as of the
 
valuation date.
The fair value of total return swaps is determined by valuing the underlying
 
exchange traded funds of the swap
using market-on-close pricing by industry providers as of the valuation
 
date that are classified within Level 2 of the
fair value hierarchy.
Redeemable noncontrolling interests
The values for redeemable noncontrolling interests are based on recent
 
transactions and/or implied multiples of
earnings that are classified within Level 3 of the fair value hierarchy.
 
Intangible Assets
Assets measured on a non-recurring basis at fair value include intangibles.
 
Inputs for measuring intangibles are
classified as Level 3 within the fair value hierarchy.
 
Defined Benefit Plans
Assets of our defined benefit plans are measured on a recurring basis
 
and are classified as Level 1 within the fair
value hierarchy.
Contingent Consideration
We estimate the fair value of contingent consideration payments as part of the acquisition price and record the
estimated fair value of contingent consideration as a liability on our
 
consolidated balance sheet.
 
For transactions
accounted for as business combinations, subsequent changes in the
 
estimated fair value of contingent consideration
payments are included in selling, general, and administrative expenses
 
in our consolidated statements of
income.
 
For transactions involving changes in our ownership
 
in subsidiaries without a change in our control,
subsequent changes in the estimated fair value of contingent consideration
 
payments are recognized in additional
paid-in capital in our consolidated balance sheet.
 
We measure contingent consideration at the fair value on a
recurring basis using significant unobservable inputs classified as
 
Level 3 of the fair value hierarchy.
 
We use
various valuation techniques, including the Monte Carlo simulation
 
and probability-weighted scenarios, to
determine the fair value of the contingent consideration liabilities on
 
the acquisition date and at each reporting
period.
 
Our fair value measurement inputs include expected operating
 
performance, discount and risk-free rates,
and credit spread.
The following table presents our assets and liabilities that are measured and
 
recognized at fair value on a recurring
basis classified under the appropriate level of the fair value hierarchy as of
 
December 28, 2024 and December 30,
2023:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 28, 2024
Level 1
Level 2
Level 3
Total
Assets:
Derivative contracts designated as hedges
$
-
$
10
$
-
$
10
Derivative contracts undesignated
-
7
-
7
Total assets
 
$
-
$
17
$
-
$
17
Liabilities:
Derivative contracts designated as hedges
$
-
$
5
$
-
$
5
Derivative contracts undesignated
-
4
-
4
Total return
 
swaps
-
3
-
3
Contingent consideration
-
-
30
30
Total liabilities
 
$
-
$
12
$
30
$
42
Redeemable noncontrolling interests
 
$
-
$
-
$
806
$
806
December 30, 2023
Level 1
Level 2
Level 3
Total
Assets:
Derivative contracts designated as hedges
$
-
$
1
$
-
$
1
Derivative contracts undesignated
-
1
-
1
Total return
 
swap
-
4
-
4
Total assets
 
$
-
$
6
$
-
$
6
Liabilities:
Derivative contracts designated as hedges
$
-
$
18
$
-
$
18
Derivative contracts undesignated
-
2
-
2
Total liabilities
 
$
-
$
20
$
-
$
20
Redeemable noncontrolling interests
 
$
-
$
-
$
864
$
864
v3.25.0.1
Concentrations of Risk
 12 Months Ended
Dec. 28, 2024
Concentrations of Risk [Abstract]  
Concentrations of Risk
Note 12 – Concentrations of Risk
Certain financial instruments potentially subject us to concentrations of credit
 
risk.
 
These financial instruments
consist primarily of cash equivalents, trade receivables, long-term investments,
 
notes receivable and derivative
instruments.
 
In all cases, our maximum exposure to loss from credit
 
risk equals the gross fair value of the financial
instruments.
 
We routinely maintain cash balances at financial institutions in excess of insured amounts.
 
We have
not experienced any loss in such accounts and we manage this risk through
 
maintaining cash deposits and other
highly liquid investments in high quality financial institutions.
 
We continuously assess the need for reserves for
such losses, which have been within our expectations.
 
We do not require collateral or other security to support
financial instruments subject to credit risk, except for long-term notes receivable.
We limit credit risk with respect to our cash equivalents, short-term and long-term investments and derivative
instruments, by monitoring the credit worthiness of the financial institutions
 
who are the counter-parties to such
financial instruments.
 
As a risk management policy, we limit the amount of credit exposure by diversifying and
utilizing numerous investment grade counterparties.
With respect to our trade receivables, credit risk is somewhat limited due to a relatively large customer base and
 
its
dispersion across different types of health care professionals and geographic areas.
 
No single customer accounted
for more than
2
% of our net sales in each of the years ended December 28, 2024,
 
December 30, 2023 or December
31, 2022.
 
With respect to our sources of supply, our top 10 Global Distribution and Value
 
-Added Services
suppliers and our single largest supplier accounted for approximately
25
% and
4
%, respectively, of our aggregate
purchases for the year ended December 28, 2024 and approximately
24
% and
4
%, respectively, of our aggregate
purchases for the year ended December 30, 2023.
Our long-term notes receivable primarily represent strategic financing arrangements
 
with certain affiliates.
 
Generally, these notes are secured by certain assets of the counterparty; however, in most cases our security is
subordinate to the rights of other commercial financial institutions.
 
While we have exposure to credit loss in the
event of non-performance by these counterparties, we conduct ongoing assessments
 
of their financial and
operational performance.
v3.25.0.1
Derivatives and Hedging Activities
 12 Months Ended
Dec. 28, 2024
Derivatives and Hedging Activities [Abstract]  
Derivatives and Hedging Activities
Note 13 – Derivatives and Hedging Activities
 
We are exposed to market risks and changes in foreign currency exchange rates against the U.S. dollar and each
other, and changes to the credit risk of the derivative counterparties.
 
We attempt to minimize these risks using
foreign currency forward contracts and by maintaining counter-party credit limits.
 
Our hedging activities provide
only limited protection against currency exchange and credit risks.
 
Factors that could influence the effectiveness of
our hedging programs include currency markets and availability of hedging
 
instruments and liquidity of the credit
markets.
 
All foreign currency forward contracts that we enter are for the sole
 
purpose of hedging an existing or
anticipated currency exposure.
 
We do not enter into foreign currency forward contracts for speculative purposes
and we manage our credit risks by diversifying our counterparties,
 
maintaining a strong balance sheet and having
multiple sources of capital.
 
Our derivative instruments primarily include foreign currency forward contracts,
 
total
return swaps, and interest rate swaps.
During 2019 we entered foreign currency forward contracts that we designated
 
as net investment hedges to hedge a
portion of our euro-denominated foreign operations.
 
These net investment hedges offset changes in the U.S. dollar
value of our investments in certain euro-functional currency subsidiaries due
 
to fluctuating foreign exchange rates.
 
Gains and losses related to these net investment hedges are recorded
 
in accumulated other comprehensive loss
within our consolidated balance sheets.
 
Amounts excluded from the assessment of hedge effectiveness are
 
included
in interest expense within our consolidated statements of income.
 
The aggregate notional value of these net
investment hedges, which matured on
November 16, 2023
, was approximately €
200
 
million.
 
On November 3,
2023 we entered into new foreign currency forward contracts to
 
hedge a portion of our euro-denominated foreign
operations which are designated as net investment hedges.
 
The aggregate notional value of this net investment
hedge, which matures on
November 3, 2028
, is approximately €
300
 
million.
 
During the years ended December 28,
2024, December 30, 2023, and December 31, 2022, we recorded an
 
increase/(decrease) of $
10
 
million, $(
32
)
million, and $
9
 
million, respectively, within other comprehensive income related to these foreign currency forward
contracts.
 
On
March 20, 2020
, we entered a total return swap to economically hedge our unfunded
 
non-qualified SERP and
our DCP.
 
This swap will offset changes in our SERP and DCP liabilities.
 
At the swap’s inception, the notional
value of the investments in these plans was $
43
 
million.
 
At December 28, 2024, the notional value of the
investments in these plans was $
106
 
million.
 
At December 28, 2024, the financing blended rate for this swap
 
was
based on the Secured Overnight Financing Rate (“SOFR”) of
4.53
% plus
0.61
%, for a combined rate of
5.14
%.
 
For
the years ended December 28, 2024, December 30, 2023,
 
and December 31, 2022,
 
we recorded within selling,
general and administrative expenses in our consolidated statement of income,
 
a gain (loss) of $
8
 
million,
10
million, and $(
17
) million, respectively, net of transaction costs, related to this undesignated swap.
On July 11, 2023, we entered into interest rate swap agreements to hedge the cash flow of our variable
 
rate $
750
million floating debt term loan facility, with
three years
 
maturity, effectively changing the floating rate portion of
our obligation to a fixed rate.
 
Under the terms of the interest rate swap agreements, we receive variable
 
interest
payments based on the one-month Term SOFR rate and pay interest at a fixed rate.
 
As of December 28, 2024, the
notional value of the interest rate swap agreements was $
713
 
million.
 
For the years ended December 28, 2024 and
December 30, 2023, we recorded, within accumulated other comprehensive
 
loss within our consolidated balance
sheets, a loss of $
3
 
million and $
10
 
million, respectively, related to the change in the fair value of these interest rate
swap agreements, since we have designated these swaps agreements as cash flow
 
hedges.
Fluctuations in the value of certain foreign currencies as compared
 
to the U.S. dollar may positively or negatively
affect our revenues, gross margins, operating expenses and retained earnings, all of which are expressed
 
in U.S.
dollars.
 
Where we deem it prudent, we engage in hedging programs using primarily
 
foreign currency forward
contracts aimed at limiting the impact of foreign currency exchange
 
rate fluctuations on earnings.
 
We purchase
short-term (i.e., generally 18 months or less) foreign currency forward contracts
 
to protect against currency
 
 
exchange risks associated with intercompany loans due from our international
 
subsidiaries and the payment of
merchandise purchases to our foreign suppliers.
 
We do not hedge the translation of foreign currency profits into
U.S. dollars, as we consider foreign currency translation to be an accounting
 
exposure, not an economic
exposure.
 
Amounts related to our hedging activities are recorded in prepaid
 
expenses and other and/or accrued
expenses: other within our consolidated balance sheets.
The following table summarizes the terms and fair value of our outstanding derivative
 
financial instruments as of
December 28, 2024 and December 30, 2023:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 28, 2024
Notional
Amount
Classification
Fair
Value
Maturity Date
Derivatives used in cash flow hedges:
Foreign currency forward contracts
$
84
Prepaid expenses and other
$
-
October 30, 2025
Interest rate swaps
713
Accrued expenses, other
(3)
July 13, 2026
Derivatives used in net investment hedges:
Foreign currency forward contracts
336
Prepaid expenses and other
9
November 3, 2028
Undesignated hedging relationships:
Total return
 
swaps
106
Accrued expenses, other
(3)
December 30, 2024
Total
$
1,239
$
3
December 30, 2023
Notional
Amount
Classification
Fair
Value
Maturity Date
Derivatives used in cash flow hedges:
Foreign currency forward contracts
$
102
Accrued expenses, other
$
(1)
November 21, 2024
Interest rate swaps
741
Accrued expenses, other
(10)
July 13, 2026
Derivatives used in net investment hedges:
Foreign currency forward contracts
352
Accrued expenses, other
(6)
November 3, 2028
Undesignated hedging relationships:
Total return
 
swaps
96
Prepaid expenses and other
4
January 3, 2024
Total
$
1,291
$
(13)
The following table summarizes the effect of cash flow hedges and net investment hedges
 
on our consolidated
statements of income for the years ended December 28, 2024, December
 
30, 2023 and December 31, 2022:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Years
 
Ended
December 28,
December 30,
December 31,
2024
2023
2022
Derivatives used in cash flow hedges:
Foreign currency forward contracts
$
-
$
(1)
$
-
Interest rate swaps
6
(7)
-
Derivatives used in net investment hedges:
Foreign currency forward contracts
7
(10)
7
Total
 
$
13
$
(18)
$
7
The amount of gains or losses reclassified from accumulated other comprehensive
 
loss into income were not
material for the years ended December 28, 2024, December 30, 2023,
 
and December 31, 2022.
v3.25.0.1
Debt
 12 Months Ended
Dec. 28, 2024
Debt [Abstract]  
Debt
Note 14 – Debt
Bank Credit Lines
Bank credit lines consisted of the following:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 28,
December 30,
2024
2023
Revolving credit agreement
$
-
$
200
Other short-term bank credit lines
650
64
Total
$
650
$
264
Revolving Credit Agreement
On
August 20, 2021
, we entered into a $
1.0
 
billion revolving credit agreement (the “Revolving Credit Agreement”)
which was subsequently amended and restated on
July 11, 2023
 
to extend the maturity date to
July 11, 2028
 
and
update the interest rate provisions to reflect the current market approach
 
for a multicurrency facility.
 
The interest
rate on this revolving credit facility is based on Term Secured Overnight Financing Rate (“
Term SOFR
”) plus a
spread based on our leverage ratio at the end of each financial reporting
 
quarter.
 
As of December 28, 2024 the
interest rate on this revolving credit facility was
4.45
% plus
1.18
% for a combined rate of
5.63
%.
 
As of December
30, 2023 the interest rate on this revolving credit facility was
5.36
% plus
1.00
% for a combined rate of
6.36
%.
 
The Revolving Credit Agreement requires, among other things, that we
 
maintain certain maximum leverage ratios.
 
Additionally, the Revolving Credit Agreement contains customary representations, warranties and affirmative
covenants as well as customary negative covenants, subject to negotiated
 
exceptions, on liens, indebtedness,
significant corporate changes (including mergers), dispositions and certain restrictive
 
agreements.
 
As of December
28, 2024 and December 30, 2023, we had $
0
 
million and $
200
 
million in borrowings, respectively, under this
revolving credit facility.
 
During the year ended December 28, 2024, the average
 
outstanding balance under the
Revolving Credit Agreement was approximately $
50
 
million.
 
As of December 28, 2024 and December 30, 2023,
there were $
11
 
million and $
10
 
million of letters of credit, respectively, provided to third parties under the
Revolving Credit Agreement.
Other Short-Term Bank Credit
 
Lines
As of December 28, 2024 and December 30, 2023, we had various other
 
short-term bank credit lines available, in
various currencies, with a maximum borrowing capacity of $
790
 
million and $
368
 
million, respectively.
 
As of
December 28, 2024 and December 30, 2023, $
650
 
million and $
64
 
million, respectively, were outstanding.
 
During
the year ended December 28, 2024, the average outstanding balances under our
 
various other short-term bank credit
lines was approximately $
492
 
million.
 
As of December 28, 2024 and December 30, 2023, borrowings
 
under other
short-term bank credit lines had weighted average interest rates of
5.35
% and
6.02
%, respectively.
Long-term debt
Long-term debt consisted of the following:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 28,
December 30,
2024
2023
Private placement facilities
 
$
975
$
1,074
Term loan
712
741
U.S. trade accounts receivable securitization
150
210
Various
 
collateralized and uncollateralized loans payable with interest,
in varying installments through 2031 at interest rates
from
0.00
% to
9.42
% at December 28, 2024 and
from
0.00
% to
9.42
% at December 30, 2023
43
54
Finance lease obligations
6
8
Total
 
1,886
2,087
Less current maturities
(56)
(150)
Total long-term debt
 
$
1,830
$
1,937
As of December 28, 2024,
 
the aggregate amounts of long-term debt, including finance lease obligations
 
and net of
deferred debt issuance costs, maturing in each of the next five years
 
and thereafter are as follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2025
 
$
56
2026
 
690
2027
 
257
2028
 
180
2029
 
102
Thereafter
 
601
Total
 
$
1,886
Private Placement Facilities
Our private placement facilities provided by
four
 
insurance companies have a total facility amount of $
1.5
 
billion,
and are available on an uncommitted basis at fixed rate economic terms
 
to be agreed upon at the time of issuance,
from time to time through
October 20, 2026
.
 
The facilities allow us to issue senior promissory notes to the
 
lenders
at a fixed rate based on an agreed upon spread over applicable treasury
 
notes at the time of issuance.
 
The term of
each possible issuance will be selected by us and can range from
five
 
to
15 years
 
(with an average life no longer
than
12 years
).
 
The proceeds of any issuances under the facilities will be used
 
for general corporate purposes,
including working capital and capital expenditures, to refinance existing
 
indebtedness, and/or to fund potential
acquisitions.
 
The agreements provide, among other things, that we maintain
 
certain maximum leverage ratios, and
contain restrictions relating to subsidiary indebtedness, liens, affiliate transactions,
 
disposal of assets and certain
changes in ownership.
 
These facilities contain make-whole provisions in the event that we
 
pay off the facilities
prior to the applicable due dates.
The components of our private placement facility borrowings as of December
 
28, 2024, which have a weighted
average interest rate of
3.70
% are presented in the following table:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Amount of
Date of
 
Borrowing
Borrowing
 
Borrowing
Outstanding
Rate
Due Date
June 16, 2017
$
100
3.42
%
June 16, 2027
September 15, 2017
100
3.52
September 15, 2029
January 2, 2018
100
3.32
January 2, 2028
September 2, 2020
100
2.35
September 2, 2030
June 2, 2021
100
2.48
June 2, 2031
June 2, 2021
100
2.58
June 2, 2033
May 4, 2023
75
4.79
May 4, 2028
May 4, 2023
75
4.84
May 4, 2030
May 4, 2023
75
4.96
May 4, 2033
May 4, 2023
150
4.94
May 4, 2033
Total
$
975
The components of our private placement facility borrowings as of December
 
30, 2023, which have a weighted
average interest rate of
3.65
% are presented in the following table:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Amount of
Date of
 
Borrowing
Borrowing
 
Borrowing
Outstanding
Rate
Due Date
January 20, 2012
$
50
3.45
%
January 20, 2024
December 24, 2012
50
3.00
December 24, 2024
June 16, 2017
100
3.42
June 16, 2027
September 15, 2017
100
3.52
September 15, 2029
January 2, 2018
100
3.32
January 2, 2028
September 2, 2020
100
2.35
September 2, 2030
June 2, 2021
100
2.48
June 2, 2031
June 2, 2021
100
2.58
June 2, 2033
May 4, 2023
75
4.79
May 4, 2028
May 4, 2023
75
4.84
May 4, 2030
May 4, 2023
75
4.96
May 4, 2033
May 4, 2023
150
4.94
May 4, 2033
Less: Deferred debt issuance costs
(1)
Total
$
1,074
Term Loan
On July 11, 2023, we entered into a
three-year
 
$
750
 
million term loan credit agreement (the “Term Credit
Agreement”).
 
The interest rate on this term loan is based on the
Term SOFR
 
plus a spread based on our leverage
ratio at the end of each financial reporting quarter.
 
This term loan matures on
July 11, 2026
.
 
We are required to
make quarterly payments of $
9
 
million from September 2024 through June 2026, with the remaining
 
balance due in
July 2026.
 
Previously, we had been required to make quarterly payments of $
5
 
million from September 2023
through June 2024.
 
As of December 28, 2024, the borrowings outstanding under
 
this term loan were $
712
 
million.
 
At December 28, 2024, the interest rate under the Term Credit Agreement was
4.45
% plus
1.60
% for a combined
rate of
6.05
%.
 
As of December 30, 2023, the borrowings outstanding under
 
this term loan were $
741
 
million.
 
At
December 30, 2023, the interest rate under the Term Credit Agreement was
5.36
% plus
1.35
% for a combined rate
of
6.71
%.
 
However, we have a hedge in place that ultimately creates an effective fixed rate of
6.04
% and
5.79
% at
December 28, 2024 and December 30, 2023, respectively.
 
The Term Credit Agreement requires, among other
things, that we maintain certain maximum leverage ratios.
 
Additionally, the Term
 
Credit Agreement contains
customary representations, warranties and affirmative covenants as well as customary
 
negative covenants, subject
to negotiated exceptions, on liens, indebtedness, significant corporate changes
 
(including mergers), dispositions and
certain restrictive agreements.
U.S. Trade Accounts Receivable Securitization
We have a facility agreement based on our U.S. trade accounts receivable that is structured as an asset-backed
securitization program with pricing committed for up to
three years
.
 
On December 6, 2024, we extended the
expiration date of this facility agreement to
December 6, 2027
 
(the previous maturity date was
December 15, 2025
).
 
This facility agreement has a purchase limit of $
450
 
million with two banks as agents.
As of December 28, 2024 and December 30, 2023, the borrowings outstanding
 
under this securitization facility
were $
150
 
million and $
210
 
million, respectively.
 
At December 28, 2024, the interest rate on borrowings under
this facility was based on the
asset-backed commercial paper rate
 
of
4.73
% plus
0.75
%, for a combined rate of
5.48
%.
 
At December 30, 2023, the interest rate on borrowings under
 
this facility was based on the asset-backed
commercial paper rate of
5.67
% plus
0.75
%, for a combined rate of
6.42
%.
If our accounts receivable collection pattern changes due to customers
 
either paying late or not making payments,
our ability to borrow under this facility may be reduced.
We are required to pay a commitment fee of
30
 
to
35
 
basis points depending upon program utilization.
v3.25.0.1
Income Taxes
 12 Months Ended
Dec. 28, 2024
Income Taxes [Abstract]  
Income Taxes
Note 15 – Income Taxes
Income before taxes and equity in earnings of affiliates was as follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Years
 
ended
December 28,
December 30,
December 31,
2024
2023
2022
Domestic
 
$
338
$
424
$
506
Foreign
 
175
118
215
Total
 
$
513
$
542
$
721
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The provisions for income taxes were as follows:
Years
 
ended
December 28,
December 30,
December 31,
2024
2023
2022
Current income tax expense:
U.S. Federal
 
$
100
$
72
$
150
State and local
 
33
28
49
Foreign
 
56
40
44
Total current
 
189
140
243
Deferred income tax expense (benefit):
U.S. Federal
 
(29)
9
(48)
State and local
 
(12)
(3)
(13)
Foreign
 
(20)
(26)
(12)
Total deferred
 
(61)
(20)
(73)
Total provision
 
$
128
$
120
$
170
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The tax effects of temporary differences that give rise to our deferred income tax asset (liability) were
 
as follows:
Years
 
Ended
December 28,
December 30,
2024
2023
Deferred income tax asset:
Net operating losses
$
91
$
90
Other carryforwards
37
34
Inventory, premium
 
coupon redemptions and accounts receivable
valuation allowances
 
37
44
Operating lease liability
76
80
Capitalization of research and development costs
27
15
Other asset
49
51
Total deferred income
 
tax asset
 
317
314
Valuation
 
allowance for deferred tax assets
(1)
(38)
(36)
Net deferred income tax asset
279
278
Deferred income tax liability
Intangibles amortization
(260)
(219)
Operating lease right-of-use asset
(67)
(65)
Property and equipment
(7)
(10)
Total deferred tax
 
liability
(334)
(294)
Net deferred income tax asset (liability)
$
(55)
$
(16)
(1)
Primarily relates to operating losses, the benefits of which are uncertain.
 
Any future reductions of such valuation allowances will be
reflected as a reduction of income tax expense.
The assessment of the amount of value assigned to our deferred tax assets under
 
the applicable accounting rules is
judgmental.
 
We
are required to consider all available positive and negative evidence
 
in evaluating the likelihood
that we will be able to realize the benefit of our deferred tax assets in the future.
 
Such evidence includes reversals
of deferred tax liabilities and projected future taxable income.
 
Since this evaluation requires consideration of
events that may occur some years into the future, there is an element of
 
judgment involved.
 
Realization of our
deferred tax assets is dependent on generating sufficient taxable income in future periods.
 
We
believe that it is
more likely than not that future taxable income will be sufficient to allow us to recover
 
substantially all of the value
assigned to our deferred tax assets.
 
However, if future events cause us to conclude that it is not more likely than
not that we will be able to recover the value assigned to our deferred tax assets, we
 
will be required to adjust our
valuation allowance accordingly.
As of December 28, 2024, we had federal, state and foreign net operating
 
loss carryforwards of approximately $
57
million, $
45
 
million and $
333
 
million, respectively.
 
The federal, state and foreign net operating loss carryforwards
will begin to expire in various years from 2025 through 2044.
 
The amounts of federal, state and foreign net
operating losses that can be carried-forward indefinitely are $
57
 
million, $
16
 
million and $
311
 
million,
respectively.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Years
 
ended
December 28,
December 30,
December 31,
2024
2023
2022
Income tax provision at federal statutory rate
 
$
108
$
114
$
151
State income tax provision, net of federal income tax effect
 
11
15
20
Foreign income tax provision
10
5
4
Pass-through noncontrolling interest
 
1
(8)
(4)
Valuation
 
allowance
 
6
(3)
(2)
Unrecognized tax benefits and audit settlements
5
9
11
Interest expense related to loans
 
(14)
(13)
(12)
Effect of cross border tax laws
12
7
6
Other
 
(11)
(6)
(4)
Total income
 
tax provision
 
$
128
$
120
$
170
 
For the year ended December 28, 2024 our effective tax rate was
24.9
%, compared to
22.1
% for the prior year
period.
 
In 2022, our effective tax rate was
23.5
%.
 
The difference between our effective tax rate and the federal
statutory tax rate is primarily due to state and foreign income taxes
 
and interest expense.
 
On December 22, 2017, the U.S. government passed the Tax Cuts and Jobs Act, which requires U.S. companies to
pay a mandatory one-time transition tax on historical offshore earnings that have not
 
been repatriated to the U.S.
 
The transition tax is payable over eight years.
 
Within our consolidated balance sheets, transition tax of $
24
 
million
and $
11
 
million were included in accrued taxes for 2024 and 2023, respectively, and $
24
 
million was included in
other liabilities for 2023.
Due to the one-time transition tax and the imposition of the GILTI provisions, all previously unremitted earnings
will no longer be subject to U.S. federal income tax; however, there could be U.S., state and/or foreign withholding
taxes upon distribution of such unremitted earnings.
 
Determination of the amount of unrecognized deferred tax
liability with respect to such earnings is not practicable.
The Organization of Economic Co-Operation and Development (OECD) issued
 
technical and administrative
guidance on Pillar Two rules in December 2021, which provides for a global minimum tax rate on the earnings of
large multinational businesses on a country-by-country basis.
 
Effective January 1, 2024, the minimum global tax
rate is 15% for various jurisdictions pursuant to the Pillar Two rules.
 
Future tax reform resulting from these
developments may result in changes to long-standing tax principles, which
 
may adversely impact our effective tax
rate going forward or result in higher cash tax liabilities.
 
As of December 28, 2024, the impact of the Pillar Two
rules to our financial statements was immaterial.
ASC Topic 740 prescribes the accounting for uncertainty in income taxes recognized in accordance with other
provisions contained within its guidance.
 
This topic prescribes a recognition threshold and a measurement
 
attribute
for the financial statement recognition and measurement of tax positions taken or
 
expected to be taken in a tax
return.
 
For those benefits to be recognized, a tax position must be
 
more likely than not to be sustained upon
examination by the taxing authorities.
 
The amount recognized is measured as the largest amount of benefit that has
a greater than 50% likelihood of being realized upon ultimate audit settlement.
 
In the normal course of business,
our tax returns are subject to examination by various taxing authorities.
 
Such examinations may result in future tax
and interest assessments by these taxing authorities for uncertain tax positions
 
taken in respect of certain tax
matters.
 
 
The total amount of unrecognized tax benefits, which are included in “other
 
liabilities” within our consolidated
balance sheets, as of December 28, 2024 and December 30, 2023 was $
108
 
million and $
115
 
million, respectively,
of which $
100
 
million and $
107
 
million, respectively, would affect the effective tax rate if recognized.
 
It is
possible that the amount of unrecognized tax benefits will change in the next 12
 
months, which may result in a
material impact on our consolidated statements of income.
All tax returns audited by the IRS are officially closed through 2020.
 
The tax years subject to examination by the
IRS include years 2021 and forward.
 
In addition, limited positions reported in the 2017 tax year are subject
 
to IRS
examination.
The amount of tax interest expense included as a component of the provision
 
for taxes was $
2
 
million, $
4
 
million
and $
0
 
million in 2024, 2023 and 2022, respectively.
 
The total amount of accrued interest is included in other
liabilities within our consolidated balance sheets, and was $
18
 
million as of December 28, 2024 and $
16
 
million as
of December 30, 2023.
 
The amount of penalties accrued for during the periods presented was not
 
material to our
consolidated financial statements.
The following table provides a reconciliation of unrecognized tax benefits:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 28,
December 30,
December 31,
2024
2023
2022
Balance, beginning of period
 
$
98
$
82
$
71
Additions based on current year tax positions
 
5
9
14
Additions based on prior year tax positions
 
10
26
8
Reductions based on prior year tax positions
 
(14)
(2)
-
Reductions resulting from settlements with taxing authorities
 
-
(3)
(1)
Reductions resulting from lapse in statutes of limitations
 
(10)
(14)
(10)
Balance, end of period
 
$
89
$
98
$
82
v3.25.0.1
Plans of Restructuring and Integration Costs
 12 Months Ended
Dec. 28, 2024
Plans of Restructuring and Integration Costs [Abstract]  
Plans of Restructuring and Integration Costs
Note 16 – Plans of Restructuring and Integration Costs
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
On August 6, 2024, we committed to a new restructuring plan (the “2024
 
Plan”) to integrate recent acquisitions,
right-size operations and further increase efficiencies.
 
During the year ended December 28, 2024, we recorded
restructuring charges associated with the 2024 Plan of $
73
 
million, which primarily related to severance and
employee-related costs, accelerated amortization of right-of-use
 
lease assets and fixed assets, impairment of
intangible assets related to the disposal of a portion of a business
 
and other exit costs.
 
We expect to record
restructuring charges associated with the 2024 Plan in 2025; however an estimate
 
of the amount of these charges
has not yet been determined.
During the year ended December 28, 2024, in connection with the 2024 Plan,
 
we recorded an impairment of
goodwill and intangible assets of $
13
 
million related to the disposal of a portion of a business.
 
This impairment is
included in the $
73
 
million of restructuring charges discussed above and related to the Global Specialty Products
segment.
On August 1, 2022, we committed to a restructuring plan (the “2022
 
Plan”) focused on funding the priorities of the
BOLD+1 strategic plan, streamlining operations and other initiatives to
 
increase efficiency.
 
The 2022 Plan has
been completed as of July 31, 2024.
 
During the years ended December 28, 2024, December
 
30, 2023, and
December 31, 2022, in connection with our 2022 Plan, we recorded restructuring
 
costs of $
37
 
million, $
80
 
million,
and $
128
 
million, respectively.
 
The restructuring costs for these periods primarily related to
 
severance and
employee-related costs, accelerated amortization of right-of-use
 
lease assets and fixed assets, impairment of
intangible assets related to disposal of a U.S. business,
 
and other exit costs.
 
During the year ended December 30, 2023, in connection with the 2022 Plan,
 
we recorded an impairment of an
intangible asset of $
12
 
million related to disposal of a U.S. business.
 
This impairment is included in the $
80
million of restructuring costs discussed above and related to the Global Specialty
 
Products segment.
 
The disposal
was completed during the first quarter of 2024.
 
During the year ended December 31, 2022, in connection with the 2022 Plan,
 
we vacated
one
 
of the buildings at our
corporate headquarters in Melville, New York, which resulted in an accelerated amortization of a right-of-use lease
asset of $
34
 
million.
 
We also initiated the disposal of a non-profitable U.S. business within the Global Specialty
Products segment and recorded related costs of $
49
 
million, which primarily consisted of impairment of intangible
assets and goodwill, inventory impairment, and severance and employee-related
 
costs, which are included in the
Global Specialty Products segment.
 
These costs are included in the $
128
 
million of restructuring charges discussed
above.
 
The disposal was completed during the first quarter of 2023.
 
On August 26, 2022, we acquired Midway Dental Supply.
 
In connection with this acquisition, during the year
ended December 31, 2022, we recorded integration costs of $
3
 
million related to one-time employee and other
costs, as well as restructuring charges of $
9
 
million, which are included in the $
128
 
million of restructuring charges
discussed above.
 
The integration and restructuring costs related to Midway Dental
 
Supply are recorded in the
Global Distribution and Value-Added Services segment.
Restructuring and integration costs recorded during our 2024, 2023 and
 
2022 fiscal years consisted of the
following:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year Ended
 
December 28, 2024
Global Distribution and
Value-Added Services
Global
Specialty
Products
Global
Technology
Corporate
Restructuring
Costs
Integration
Costs
Restructuring Costs
Total
2024 Plan
Severance and employee-related costs
$
31
$
-
$
5
$
6
$
2
$
44
Impairment and accelerated depreciation and
amortization of right-of-use lease assets and
other long-lived assets
5
-
3
4
-
12
Exit and other related costs
2
-
-
-
-
2
Loss on disposal of a business
-
-
15
-
-
15
Restructuring and integration costs-2024 Plan
$
38
$
-
$
23
$
10
$
2
$
73
2022 Plan
Severance and employee-related costs
$
18
$
-
$
5
$
1
$
-
$
24
Accelerated depreciation and amortization
10
-
-
-
(3)
7
Exit and other related costs
2
-
2
-
2
6
Restructuring and integration costs-2022 Plan
$
30
$
-
$
7
$
1
$
(1)
$
37
Total restructuring and integration costs
$
68
$
-
$
30
$
11
$
1
$
110
Year Ended
 
December 30, 2023
Global Distribution and
Value-Added Services
Global
Specialty
Products
Global
Technology
Corporate
Restructuring
Costs
Integration
Costs
Restructuring Costs
Total
2022 Plan
Severance and employee-related costs
$
29
$
-
$
5
$
5
$
7
$
46
Impairment and accelerated depreciation and
amortization of right-of-use lease assets and
other long-lived assets
13
-
-
2
-
15
Exit and other related costs
3
-
1
-
2
6
Loss on disposal of a business
-
-
13
-
-
13
Total restructuring and integration costs
$
45
$
-
$
19
$
7
$
9
$
80
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year Ended
 
December 31, 2022
Global Distribution and
Value-Added Services
Global
Specialty
Products
 
Global
Technology
Corporate
Restructuring
Costs
Integration
Costs
Restructuring Costs
Total
2022 Plan
Severance and employee-related costs
$
21
$
-
$
3
$
3
$
2
$
29
Impairment and accelerated depreciation and
amortization of right-of-use lease assets and other
long-lived assets
11
-
-
-
36
47
Exit and other related costs
2
-
-
-
1
3
Loss on disposal of a business
-
-
49
-
-
49
Integration employee-related and other costs
-
3
-
-
-
3
Total restructuring and integration costs
$
34
$
3
$
52
$
3
$
39
$
131
The following table summarizes, by plan year, the activity related to the liabilities associated with
 
our restructuring
initiatives under the 2022 Plan and the 2024 Plan for the year ended December
 
28, 2024.
 
The remaining accrued
balance of restructuring costs as of December 28, 2024, which primarily
 
relates to severance and employee-related
costs, is included in accrued expenses: other within our consolidated balance
 
sheets.
 
Liabilities related to exited
leased facilities are recorded within our current and non-current operating
 
lease liabilities within our consolidated
balance sheets.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2022 Plan
2024 Plan
Total
Balance, December 31, 2022
 
$
24
$
-
$
24
Restructuring costs
80
-
80
Non-cash accelerated depreciation and amortization
(15)
-
(15)
Non-cash impairment on disposal of a business
(12)
-
(12)
Cash payments and other adjustments
 
(54)
-
(54)
Balance, December 30, 2023
 
23
-
23
Restructuring costs
37
73
110
Non-cash accelerated depreciation and amortization
(7)
(12)
(19)
Non-cash impairment on disposal of a business
-
(13)
(13)
Cash payments and other adjustments
 
(41)
(20)
(61)
Balance, December 28, 2024
 
$
12
$
28
$
40
v3.25.0.1
Commitments and Contingencies
 12 Months Ended
Dec. 28, 2024
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies
Note 17 – Commitments and Contingencies
Purchase Commitments
In our Global Distribution and Value-Added Services business, we sometimes enter into long-term purchase
commitments to ensure the availability of products for distribution.
 
Future minimum annual payments for
inventory purchase commitments as of December 28, 2024 were:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2025
 
$
9
2026
 
5
2027
 
-
2028
 
-
2029
 
-
Thereafter
 
-
Total minimum
 
inventory purchase commitment payments
$
14
Employment, Consulting and Non-Compete Agreements
We have employment, consulting and non-compete agreements that have varying base aggregate annual payments
for the years 2025 through 2029 and thereafter of approximately $
20
 
million, $
4
 
million, $
0
 
million, $
0
 
million, $
0
million, and $
0
 
million, respectively.
 
We also have lifetime consulting agreements that provide for current
compensation of
four-hundred thousand
 
dollars per year, with small scheduled increases every fifth year with the
next increase in 2027.
 
In addition, some agreements have provisions for additional
 
incentives and compensation.
 
Legal Proceedings
Henry Schein, Inc. has been named as a defendant in multiple opioid
 
related lawsuits (currently less than one-
hundred and seventy-five (
175
); one or more of Henry Schein, Inc.’s subsidiaries is also named as a defendant in a
number of those cases).
 
Generally, the lawsuits allege that the manufacturers of prescription opioid drugs engaged
in a false advertising campaign to expand the market for such drugs and
 
their own market share and that the entities
in the supply chain (including Henry Schein, Inc. and its subsidiaries) reaped
 
financial rewards by refusing or
otherwise failing to monitor appropriately and restrict the improper distribution
 
of those drugs.
 
These actions
consist of some that have been consolidated within the MultiDistrict Litigation
 
(“MDL”) proceeding In Re National
Prescription Opiate Litigation (MDL No. 2804; Case No. 17-md-2804)
 
and are currently stayed, and others which
remain pending in state courts and are proceeding independently and outside
 
of the MDL.
 
On January 29, 2025,
the court granted our motion for summary judgment in the action
 
filed by Mobile County Board of Health, et al. in
Alabama state court and dismissed all claims against Henry Schein
 
with prejudice.
 
We have settled the action filed
by DCH Health Care Authority, et al. in Alabama state court (
thirty-four
 
plaintiffs) for an immaterial amount and
the claims against Henry Schein have been dismissed with prejudice.
 
We have also settled
forty-four
 
cases (plus
one
 
case in which we were not yet named a defendant) filed by plaintiffs represented
 
by the Napoli Shkolnik PLLC
law firm for an immaterial amount.
 
Stipulations of Discontinuance with Prejudice in those cases
 
are pending.
 
At
this time, the following case is set for trial: the action filed by Florida Health Sciences
 
Center, Inc. (and
25
other
hospitals located throughout the State of Florida) in Florida state court,
 
which is currently scheduled for a jury trial
in September 2025.
 
Of Henry Schein’s 2024 net sales of approximately $
12.7
 
billion, sales of opioids represented
less than
four
-tenths of 1 percent.
 
Opioids represent a negligible part of our business.
 
We intend to defend
ourselves vigorously against these actions.
On January 18, 2024, a putative class action was filed against the Company
 
in the U.S. District Court for the
Eastern District of New York (“EDNY”), Case No. 24-cv-387 (the “Cruz-Bermudez Action”), based on the
October 2023 cyber incident described in
 
On January 26, 2024, a second putative class
 
 
action was filed against the Company based on the cyber incident, also
 
in the EDNY,
 
Case No. 24-cv-550 (the
“Depperschmidt Action”).
 
On February 12, 2024, the Depperschmidt Action was voluntarily dismissed
 
without
prejudice.
 
On February 16, 2024, an amended complaint was filed in
 
the Cruz-Bermudez Action with additional
plaintiffs’ counsel from the Depperschmidt Action and an additional new plaintiff.
 
 
Plaintiffs in the Cruz-Bermudez Action seek to represent a class of all individuals
 
whose personally identifying
information and personal health information was compromised by
 
the incident.
 
Plaintiffs generally claim to have
been harmed by alleged actions and/or omissions by the Company
 
in connection with the incident and that the
Company made deceptive public statements regarding privacy and data protection.
 
Plaintiffs assert a variety of
claims seeking monetary damages, injunctive relief, costs and attorneys’
 
fees, and other related relief.
 
On March
22, 2024, plaintiffs voluntarily withdrew two of their five causes of action.
 
On April 8, 2024, the court denied the
Company’s motion to dismiss the remaining claims.
On June 6, 2024, plaintiffs and the Company informed the court that they had agreed
 
to a term sheet for a class
action settlement of the Cruz-Bermudez Action.
 
Plaintiffs and the Company entered into a class action settlement
agreement on September 13, 2024, and the court preliminarily approved
 
the settlement on September 16,
2024.
 
Under the terms of the settlement, all claims in the Cruz-Bermudez
 
Action will be dismissed, the Cruz-
Bermudez Action will be terminated, the Company will receive a
 
release of claims from the class, and the
Company will pay $
2.9
 
million into a fund for class members.
 
The court has approved the settlement and entered
the final approval order on February 20, 2025.
 
The settlement agreement’s effective date is
35 days
 
after the final
approval order assuming no appeals have been filed.
From time to time, we may become a party to other legal proceedings,
 
including, without limitation, product
liability claims, employment matters, commercial disputes, governmental
 
inquiries and investigations (which may
in some cases involve our entering into settlement arrangements or consent
 
decrees), and other matters arising out
of the ordinary course of our business.
 
While the results of any legal proceeding cannot be predicted with certainty,
in our opinion none of these other pending matters are currently
 
anticipated to have a material adverse effect on our
consolidated financial position, liquidity or results of operations.
As of December 28, 2024, we had accrued our best estimate of potential
 
losses relating to claims that were probable
to result in liability and for which we were able to reasonably estimate
 
a loss.
 
This accrued amount, as well as
related expenses, was not material to our financial position, results of operations
 
or cash flows.
 
Our method for
determining estimated losses considers currently available
 
facts, presently enacted laws and regulations and other
factors, including probable recoveries from third parties.
v3.25.0.1
Stock Based Compensation
 12 Months Ended
Dec. 28, 2024
Stock Based Compensation [Abstract]  
Stock Based Compensation
Note 18 – Stock-Based Compensation
Stock-based awards are provided to certain employees under our 2024 Stock Incentive
 
Plan (formerly known as our
2020 Stock Incentive Plan) and to non-employee directors under our 2023 Non-Employee
 
Director Stock Incentive
Plan (together, the “Plans”).
 
The Plans are administered by the Compensation Committee of the Board
 
(the
“Compensation Committee”).
 
Historically, equity-based awards to our employees have been granted solely in the
form of time-based and performance-based restricted stock units (“RSUs”)
 
with the exception of our 2021 plan year
in which non-qualified stock options were issued in place of performance-based
 
RSUs and in 2022, when we
granted time-based and performance-based RSUs, as well as non-qualified
 
stock options.
 
Starting with our 2023
plan year, we returned to granting our employees equity-based awards solely in the form of
 
time-based and
performance-based RSUs.
 
Our non-employee directors receive equity-based awards solely in the form
 
of time-
based RSUs.
As of December 28, 2024, there were
75,742,657
 
shares authorized and
9,973,475
 
shares available to be granted
under the 2024 Stock Incentive Plan and
2,075,000
 
shares authorized and
361,724
 
shares available to be granted
under the 2023 Non-Employee Director Stock Incentive Plan.
RSUs are stock-based awards granted to recipients with specified vesting provisions.
 
In the case of RSUs, common
stock is delivered on or following satisfaction of vesting conditions.
 
We issue RSUs to employees that primarily
vest (i) solely based on the recipient’s continued service over time, primarily with
four
-year cliff vesting and/or (ii)
based on achieving specified performance measurements and the recipient’s continued service over time, primarily
with
three
-year cliff vesting.
 
RSUs granted to our non-employee directors primarily include
12
-month cliff vesting.
 
For these RSUs, we recognize the cost as compensation expense on a straight-line
 
basis.
For all RSUs, we estimate the fair value based on our closing stock
 
price on the grant date.
 
With respect to
performance-based RSUs, the number of shares that ultimately vest and
 
are received by the recipient is based upon
our performance as measured against specified targets over a specified period, as
 
determined by the Compensation
Committee.
 
Although there is no guarantee that performance targets will be achieved, we
 
estimate the fair value of
performance-based RSUs based on our closing stock price at time of grant.
Each of the Plans provide for certain adjustments to the performance measurement
 
in connection with awards under
the Plans.
 
With respect to the performance-based RSUs granted under our 2024 Stock Incentive Plan, such
performance measurement adjustments relate to significant events, including,
 
without limitation, acquisitions,
divestitures, new business ventures, certain capital transactions (including share
 
repurchases), differences in
budgeted average outstanding shares (other than those resulting from capital
 
transactions referred to above),
restructuring costs, if any, amortization expense recorded for acquisition-related intangible assets (solely with
respect to performance-based RSUs granted in the 2023 and 2024 plan years),
 
certain litigation settlements or
payments, if any, changes in accounting principles or in applicable laws or regulations, changes in income tax rates
in certain markets, foreign exchange fluctuations, the financial impact
 
either positive or negative, of the difference
in projected earnings generated by COVID-19 test kits (solely with respect
 
to performance-based RSUs granted in
the 2022 and 2023 plan years) and impairment charges (solely with respect to performance-based
 
RSUs granted in
the 2023 and 2024 plan years), and unforeseen events or circumstances
 
affecting us.
Over the performance period, the number of RSUs that will ultimately vest
 
and be issued and the related
compensation expense is adjusted upward or downward based upon our
 
estimation of achieving such performance
targets.
 
The ultimate number of shares delivered to recipients and the related compensation
 
cost recognized as an
expense is based on our actual performance against the pre-determined performance
 
metrics (in each case as
adjusted).
Stock options are awards that allow the recipient to purchase shares of our
 
common stock after vesting at a fixed
price set at the time of grant.
 
Stock options were granted at an exercise price equal to our
 
closing stock price on the
 
 
date of grant.
 
Stock options issued in 2021 and 2022 vest
one-third
 
per year based on the recipient’s continued
service, subject to the terms and conditions of the 2020 Stock Incentive Plan,
 
are fully vested
three years
 
from the
grant date and have a contractual term of
ten years
 
from the grant date, subject to earlier termination of term and
term acceleration upon certain events.
 
Compensation expense for stock options is recognized using
 
a graded
vesting method.
 
We estimate grant date fair value of stock options using the Black-Scholes valuation model.
 
During the year ended December 28, 2024, we did
no
t grant any stock options.
Our consolidated statements of income reflect pre-tax share-based compensation
 
expense of $
39
 
million, $
39
million and $
54
 
million for the years ended December 28, 2024, December 30, 2023
 
and December 31, 2022,
respectively.
Total unrecognized compensation cost related to unvested awards as of December 28, 2024 was $
66
 
million, which
is expected to be recognized over a weighted-average period of approximately
2.6
 
years.
 
The weighted-average grant date fair value of stock-based awards granted
 
was $
75.12
, $
76.43
 
and $
85.51
 
per share
during the years ended December 28, 2024, December 30, 2023 and December
 
31, 2022, respectively.
 
We
record deferred income tax assets for awards that will result in
 
future income tax deductions based on the
amount of compensation cost recognized and our statutory tax rate in the
 
jurisdiction in which we will receive a
deduction.
Our consolidated statements of cash flows present our stock-based compensation
 
expense as a reconciling
adjustment between net income and net cash provided by operating
 
activities for all periods presented.
 
There were
no cash benefits associated with tax deductions in excess of recognized
 
compensation for the years ended
December 28, 2024, December 30, 2023 and December 31, 2022.
The following weighted-average assumptions were used in determining
 
the most recent fair values of stock options
using the Black-Scholes valuation model:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2022
Expected dividend yield
 
0.00
%
Expected stock price volatility
 
27.80
%
Risk-free interest rate
 
3.62
%
Expected life of options (in years)
 
6.00
 
 
 
 
 
 
We have not declared cash dividends on our stock in the past and we do not anticipate declaring cash dividends in
the foreseeable future.
 
The expected stock price volatility is based on implied volatilities
 
from traded options on
our stock, historical volatility of our stock and other factors.
 
The risk-free interest rate is based on the U.S.
Treasury yield curve in effect at the time of grant that most closely aligns to the expected life of options.
 
The six-
year expected life of the options was determined using the simplified
 
method for estimating the expected term as
permitted under Staff Accounting Bulletin Topic 14.
The following table summarizes the stock option activity for the year
 
ended December 28, 2024:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Stock Options
Weighted Average
Aggregate
Weighted Average
 
Remaining Contractual
Intrinsic
Shares
Exercise Price
Life (in years)
Value
Outstanding at beginning of year
 
1,078,459
$
71.46
Granted
 
-
-
Exercised
 
(100,077)
62.71
Forfeited
 
(14,891)
85.18
Outstanding at end of year
 
963,491
$
72.16
6.6
$
4
Options exercisable at end of year
 
837,341
$
70.11
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted Average
Aggregate
Number of
Weighted Average
Remaining Contractual
Intrinsic
Options
Exercise Price
Life (in years)
Value
Expected to vest
126,150
$
85.77
7.2
$
-
The following tables summarize the activity of our unvested RSUs for
 
the year ended December 28, 2024:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Time-Based Restricted Stock Units
Performance-Based Restricted Stock Units
Weighted Average
 
Weighted Average
 
Grant Date Fair
Intrinsic Value
Grant Date Fair
Intrinsic Value
Shares/Units
Value Per Share
Per Share
Shares/Units
Value Per Share
Per Share
Outstanding at beginning of period
 
1,655,393
$
70.34
208,742
$
78.02
Granted
 
465,861
75.84
253,896
76.88
Vested
 
(332,084)
63.09
(8,262)
66.53
Forfeited
 
(103,620)
76.95
(65,265)
79.60
Outstanding at end of period
 
1,685,550
$
72.92
$
70.42
389,111
$
75.98
$
70.42
The fair value of time and performance RSUs that vested was $
21
 
million and $
1
 
million, respectively, for the year
ended December 28, 2024; $
27
 
million and $
38
 
million, respectively, for the year ended December 30, 2023; and
$
31
 
million and $
23
 
million, respectively, for the year ended December 31, 2022.
v3.25.0.1
Employee Benefit Plans
 12 Months Ended
Dec. 28, 2024
Employee Benefit Plans [Abstract]  
Employee Benefit Plans
Note 19 – Employee Benefit Plans
Defined benefit plans
Certain of our employees in our international markets participate
 
in various noncontributory defined benefit plans.
 
These plans are managed to provide pension benefits to covered employees
 
in accordance with local regulations
and practices.
 
Our net unfunded liability for these plans are recorded
 
in accrued expenses: other; and other
liabilities within our consolidated balance sheets.
 
The following table presents the changes in projected benefit
obligations, plan assets, and the funded status of our defined benefit
 
pension plans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Years
 
Ended
December 28,
December 30,
2024
2023
Obligation and funded status:
Change in benefit obligation
Projected benefit obligation, beginning of period
$
125
$
108
Service costs
4
3
Interest cost
3
3
Past service cost (credit)
(1)
1
Actuarial gain
6
6
Participant contributions
2
1
Settlements
(1)
(3)
Effect of foreign currency translation
(9)
6
Projected benefit obligation, end of period
$
129
$
125
Change in plan assets
Fair value of plan assets at beginning of period
$
86
$
73
Actual return on plan assets
3
4
Employer contributions
3
2
Plan participant contributions
2
1
Expected return on plan assets
3
1
Benefit received
1
2
Settlements
(2)
(2)
Effect of foreign currency translation
(6)
5
Fair value of plan assets at end of period
$
90
$
86
Unfunded status at end of period
$
39
$
39
The majority of our defined benefit plans are unfunded, with the exception
 
of one plan in one country where the
amount of assets exceeds the projected benefit obligation by approximately
 
$
8
 
million and $
7
 
million as of
December 28, 2024 and December 30, 2023, respectively.
 
At December 28, 2024 and December 30, 2023 the
accumulated benefit obligations were $
125
 
million and $
121
 
million, respectively.
The following table provides the amounts recognized in our consolidated
 
balance sheets for our defined benefit
pension plans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Years
 
Ended
December 28,
December 30,
2024
2023
Non-current assets
$
28
$
27
Current liabilities
(1)
(1)
Non-current liabilities
(68)
(65)
Accumulated other comprehensive loss, pre-tax
10
8
The following table provides the components of net periodic pension cost
 
for our defined benefit plans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Years
 
Ended
December 28,
December 30,
December 31,
2024
2023
2022
Service cost
$
4
$
3
$
3
Interest cost
3
3
1
Expected return on plan assets
(3)
(3)
(1)
Employee contributions
(1)
(1)
-
Amortization of prior service credit
-
-
1
Net periodic pension cost
$
3
$
2
$
4
The following tables present the weighted-average actuarial assumptions
 
used to determine our pension benefit
obligation and our net periodic pension cost for the periods presented:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Years
 
Ended
December 28,
December 30,
Pension Benefit Obligation
2024
2023
Weighted average
 
discount rate
2.23
%
2.71
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Years
 
Ended
December 28,
December 30,
December 31,
Net Periodic Pension Cost
2024
2023
2022
Discount rate-pension benefit
1.70
%
1.50
%
1.25
%
Expected return on plan assets
1.13
%
0.51
%
0.81
%
Rate of compensation increase
1.98
%
1.64
%
1.68
%
Pension increase rate
0.63
%
0.80
%
0.61
%
The following table presents the estimated pension benefit payments that
 
are payable to the plan’s participants as of
December 28, 2024:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
2025
$
7
2026
6
2027
7
2028
8
2029
6
2030 to 2034
41
Total
$
75
401(k) Plans
We offer
 
qualified 401(k) plans to substantially all domestic full-time employees.
 
As determined by our Board,
matching contributions to these plans generally do not exceed
100
% of the participants’ contributions up to
7
% of
their base compensation, subject to applicable legal limits.
 
Matching contributions are made in cash and are
allocated consistent with the participants’ investment elections on file, subject
 
to a
20
% allocation limit to the
Henry Schein Stock Fund.
 
Forfeitures attributable to participants whose employment terminates
 
prior to becoming
fully vested are reallocated as part of our ongoing matching contributions
 
and to offset administrative expenses of
the 401(k) plans.
Assets of the 401(k) and other defined contribution plans are held
 
in self-directed accounts enabling participants to
choose from various investment fund options.
 
Matching contributions related to these plans charged to operations
during the years ended December 28, 2024, December 30, 2023 and December
 
31, 2022 amounted to $
48
 
million,
$
50
 
million and $
45
 
million, respectively.
 
Within our consolidated statements of income, $
40
 
million, $
42
 
million,
and $
37
 
million, is included in selling, general and administrative; and $
8
 
million, $
8
 
million, and $
8
 
million is
included in cost of goods sold for the years ended December 28, 2024, December
 
30, 2023, and December 31,
2022, respectively.
Supplemental Executive Retirement Plan
We offer
 
an unfunded, non-qualified SERP to eligible employees.
 
This plan generally covers officers and certain
highly compensated employees after they have reached the maximum
 
IRS allowed pre-tax 401(k) contribution
limit.
 
Our contributions to this plan are equal to the 401(k) employee-elected
 
contribution percentage applied to
base compensation for the portion of the year in which such employees are
 
not eligible to make pre-tax
contributions to the 401(k) plan.
 
The amounts charged to operations during the years ended December 28, 2024,
December 30, 2023 and December 31, 2022 amounted to $
2
 
million, $
3
 
million and $
(1)
 
million, respectively.
 
The
charges are included in selling, general and administrative within our consolidated
 
statements of income.
 
Deferred Compensation Plan
We
offer DCP to a select group of management or highly compensated employees
 
of the Company and certain
subsidiaries.
 
This plan allows for the elective deferral of base salary, bonus and/or commission compensation by
eligible employees.
 
The amounts (credited)/charged to operations during the years ended December
 
28, 2024,
December 30, 2023 and December 31, 2022 were approximately $
12
 
million, $
12
 
million and $
(11)
 
million,
respectively.
 
The charges are included in selling, general and administrative within our consolidated
 
statements of
income.
v3.25.0.1
Redeemable Noncontrolling Interests
 12 Months Ended
Dec. 28, 2024
Redeemable Noncontrolling Interests [Abstract]  
Redeemable Noncontrolling Interests
Note 20 – Redeemable Noncontrolling Interests
Some minority stockholders in certain of our subsidiaries have the right,
 
at certain times, to require us to acquire
their ownership interest in those entities at fair value.
 
ASC Topic 480-10 is applicable for noncontrolling interests
where we are or may be required to purchase all or a portion of the
 
outstanding interest in a consolidated subsidiary
from the noncontrolling interest holder under the terms of a put option contained
 
in contractual agreements.
 
The
components of the change in the redeemable noncontrolling interests for the
 
years ended December 28, 2024,
December 30, 2023 and December 31, 2022, are presented in the following table:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 28,
December 30,
December 31,
2024
2023
2022
Balance, beginning of period
 
$
864
$
576
$
613
Decrease in redeemable noncontrolling interests due to acquisitions of
noncontrolling interests in subsidiaries
(273)
(19)
(31)
Increase in redeemable noncontrolling interests due to business
acquisitions
171
326
4
Net income (loss) attributable to redeemable noncontrolling interests
(1)
6
21
Distributions declared, net of capital contributions
(50)
(19)
(21)
Effect of foreign currency translation gain (loss) attributable
 
to
redeemable noncontrolling interests
(24)
5
(6)
Change in fair value of redeemable securities
 
119
(11)
(4)
Balance, end of period
 
$
806
$
864
$
576
v3.25.0.1
Comprehensive Income
 12 Months Ended
Dec. 28, 2024
Comprehensive Income [Abstract]  
Comprehensive Income
Note 21 – Comprehensive Income
Comprehensive income includes certain gains and losses that, under U.S.
 
GAAP,
 
are excluded from net income and
are recorded directly to stockholders’ equity.
 
The following table summarizes our Accumulated other comprehensive loss, net
 
of applicable taxes as of:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 28,
December 30,
December 31,
2024
2023
2022
Attributable to redeemable noncontrolling interests:
Foreign currency translation adjustment
 
$
(56)
$
(32)
$
(37)
Attributable to noncontrolling interests:
Foreign currency translation adjustment
 
$
(1)
$
(1)
$
(1)
Attributable to Henry Schein, Inc.:
Foreign currency translation adjustment
$
(371)
$
(188)
$
(236)
Unrealized gain (loss) from hedging activities
 
-
(13)
5
Pension adjustment loss
 
(8)
(5)
(2)
Accumulated other comprehensive loss
 
$
(379)
$
(206)
$
(233)
Total Accumulated
 
other comprehensive loss
 
$
(436)
$
(239)
$
(271)
The following table summarizes the components of comprehensive income, net
 
of applicable taxes as follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 28,
December 30,
December 31,
2024
2023
2022
Net income
 
$
398
$
436
$
566
Foreign currency translation gain (loss)
(207)
53
(88)
Tax effect
 
-
-
-
Foreign currency translation gain (loss)
(207)
53
(88)
Unrealized gain (loss) from hedging activities
 
18
(25)
10
Tax effect
 
(5)
7
(3)
Unrealized gain (loss) from hedging activities
 
13
(18)
7
Pension adjustment gain (loss)
(5)
(3)
16
Tax effect
 
2
-
(4)
Pension adjustment gain (loss)
(3)
(3)
12
Comprehensive income
 
$
201
$
468
$
497
 
Our financial statements are denominated in U.S. Dollars.
 
Fluctuations in the value of foreign currencies as
compared to the U.S. Dollar may have a significant impact on our
 
comprehensive income.
 
The foreign currency
translation gain (loss) during the years ended December 28, 2024, December 30,
 
2023 and December 31, 2022 was
primarily due to changes in foreign currency exchange rates of the Brazilian
 
Real, Euro, British Pound, Canadian
Dollar, Australian Dollar,
 
Swiss Franc, and New Zealand Dollar.
The hedging gain (loss) during the years ended December 28, 2024, December
 
30, 2023, and December 31, 2022
was attributable to a net investment hedge.
The following table summarizes our total comprehensive income, net of
 
applicable taxes as follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 28,
December 30,
December 31,
2024
2023
2022
Comprehensive income attributable to
Henry Schein, Inc.
 
$
217
$
443
$
476
Comprehensive income attributable to
noncontrolling interests
 
9
14
6
Comprehensive income (loss) attributable to
Redeemable noncontrolling interests
 
(25)
11
15
Comprehensive income
 
$
201
$
468
$
497
v3.25.0.1
Earnings Per Share
 12 Months Ended
Dec. 28, 2024
Earnings Per Share [Abstract]  
Earnings Per Share
Note 22 – Earnings Per Share
Basic earnings per share is computed by dividing net income attributable
 
to Henry Schein, Inc. by the weighted-
average number of common shares outstanding for the period.
 
Our diluted earnings per share is computed similarly
to basic earnings per share, except that it reflects the effect of common shares issuable
 
for unvested RSUs and upon
exercise of stock options using the treasury stock method in periods
 
in which they have a dilutive effect.
A reconciliation of shares used in calculating earnings per basic and
 
diluted share follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Years
 
Ended
December 28,
December 30,
December 31,
2024
2023
2022
Basic
 
126,788,997
130,618,990
136,064,221
Effect of dilutive securities:
Stock options and restricted stock units
 
990,231
1,129,181
1,691,449
Diluted
127,779,228
131,748,171
137,755,670
The number of antidilutive securities that were excluded from the calculation
 
of diluted weighted average common
shares outstanding are as follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Years
 
Ended
December 28,
December 30,
December 31,
2024
2023
2022
Stock options
406,676
424,695
342,716
Restricted stock units
9,287
15,040
19,466
Total anti-dilutive
 
securities excluded from earnings per share
computation
415,963
439,735
362,182
v3.25.0.1
Supplemental Cash Flow Information
 12 Months Ended
Dec. 28, 2024
Supplemental Cash Flow Elements [Abstract]  
Supplemental Cash Flow Information
Note 23 – Supplemental Cash Flow Information
Cash paid for interest and income taxes was:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Years
 
ended
December 28,
December 30,
December 31,
2024
2023
2022
Interest
 
$
132
$
84
$
47
Income taxes
 
144
218
265
For the years ended December 28, 2024, December 30, 2023 and December
 
31, 2022, we had $
18
 
million, $
(25)
million and $
10
 
million of non-cash net unrealized gains (losses) related to hedging
 
activities, respectively.
For the year ended December 30, 2023, there was approximately $
143
 
million of debt assumed as part of the
acquisitions of Biotech Dental and S.I.N.
v3.25.0.1
Related Party Transactions
 12 Months Ended
Dec. 28, 2024
Related Party Transactions  
Related Party Transactions
Note 24 – Related Party Transactions
In connection with the formation of Henry Schein One, LLC, our joint venture
 
with Internet Brands, which was
formed on July 1, 2018, we entered into a
ten-year
 
royalty agreement with Internet Brands whereby we will pay
Internet Brands approximately $
31
 
million annually for the use of their intellectual property.
 
During the years
ended December 28, 2024, December 30, 2023 and December 31, 2022, we recorded
 
$
31
 
million, $
31
 
million and
$
31
 
million, respectively, within selling, general and administrative in our consolidated statements of income, in
connection with costs related to this royalty agreement.
 
As of December 28, 2024 and December 30, 2023, Henry
Schein One, LLC had a net payable balance to Internet Brands of $
1
 
million and $
1
 
million, respectively,
comprised of amounts related to results of operations and the royalty agreement.
 
The components of this payable
are recorded within accrued expenses: other within our consolidated balance sheets.
We
have interests in entities that we account for under the equity accounting
 
method.
 
In our normal course of
business, during the years ended December 28, 2024, December 30, 2023
 
and December 31, 2022, we recorded net
sales of $
52
 
million, $
47
 
million, and $
46
 
million respectively, to such entities.
 
During the years ended December
28, 2024, December 30, 2023 and December 31, 2022, we purchased
 
$
11
 
million, $
10
 
million and $
9
 
million
respectively, from such entities.
 
At December 28, 2024 and December 30, 2023, we had an aggregate
 
$
31
 
million
and $
32
 
million, respectively, due from our equity affiliates, and $
6
 
million and $
5
 
million, respectively, due to our
equity affiliates.
Certain of our facilities related to our acquisitions are leased from employees
 
and minority shareholders.
v3.25.0.1
Subsequent Event
 12 Months Ended
Dec. 28, 2024
Subsequent Event [Abstract]  
Subsequent Event
Note 25 – Subsequent Event
On January 29, 2025, Henry Schein, Inc. announced a strategic investment
 
by funds affiliated with KKR, a leading
global investment firm.
 
In addition to KKR’s current holdings, KKR will make an additional $
250
 
million
investment in the Company’s common stock.
 
As a result, KKR will own approximately
12
% of the Company’s
stock.
 
KKR will also have the ability to purchase additional shares via
 
open market purchases up to a total equity
stake of
14.9
% of the outstanding common shares of the Company.
 
In addition, under the agreement
between Henry Schein and KKR,
two
 
independent directors will join our Board of Directors.
 
Upon consummation
of this strategic investment,
 
we will issue new shares of common stock to funds affiliated with KKR for an
investment of $
250
 
million, at approximately $
76.10
 
per share.
 
As part of the agreement, KKR has also agreed to
customary voting and other provisions.
 
Consummation of these transactions is subject to customary closing
conditions, including the expiration or termination of any waiting
 
period under the Hart-Scott-Rodino Act and
certain foreign regulatory approvals.
v3.25.0.1
Insider Trading Arrangements
 3 Months Ended
Dec. 28, 2024
Insider Trading Arr [Line Items]  
No Insider Trading Flag true
v3.25.0.1
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 28, 2024
Insider Trading Policies Proc [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.0.1
Cybersecurity Risk Management Strategy And Governance
 12 Months Ended
Dec. 28, 2024
Cybersecurity Risk Management Strategy And Governance [Line Items]  
Cybersecurity Risk Management Processes For Assessing Identifying And Managing Threats [Text Block]
 
Cybersecurity Risk Management and Strategy
 
We have developed and implemented a cybersecurity risk mitigation strategy intended to protect our information
systems.
 
Our cybersecurity risk mitigation strategy is designed
 
so that the Company’s cybersecurity program is
aligned with generally accepted cybersecurity standards and frameworks,
 
in particular the NIST Cybersecurity
Framework, or “NIST CSF,” and our Company is externally audited, or certified, with ISO27001 partial scope.
 
We maintain an Office of Cybersecurity (“OCS”), led by our Chief Information Security Officer (“CISO”), which
oversees
 
the operations of our cyber risk mitigation strategy.
 
The OCS is a cross-functional, enterprise-wide
management team, which continuously evaluates our global cybersecurity
 
program’s effectiveness and is focused
on maintaining and protecting our information systems.
 
In overseeing the operations of our cyber risk mitigation
strategy, the OCS partners with our Global Technology Solutions team, which is led by our Chief Technology
Officer (“CTO”) and is comprised of over one hundred professionals that support our information
 
systems and
operations.
 
Our cyber risk mitigation strategy includes
monitoring
 
for and addressing risks that materialize within
the Company’s information systems, as well as at our
third-party
 
vendors, suppliers and other third-party business
partners.
 
Our CISO reports to our CTO.
 
Our CTO,
 
who also serves as Senior Vice President,
 
has more than 30 years of
experience leading large-scale global IT organizations and received a Bachelor of Business Administration
 
in
Business Computer Information Systems and a Master of Business Administration
 
from Hofstra University.
 
Our Vice President, Global CISO, who also serves as Vice
 
 
 
President and Head of the Office of Cyber Security, has over 30 years of experience leading global cybersecurity
and technology programs in large and complex corporations, and holds a Certified
 
Information Systems Security
Professional and a Certified Information Systems Auditor certification.
 
He also received a BS, Information
Technology and Security from Baker College.
 
The cybersecurity risk mitigation strategy is also overseen by
 
senior
managers who are members of our Executive Steering Committee, comprised
 
of the Company’s most senior
technology, legal and internal auditing officers.
 
Our CEO is regularly briefed on issues, incidents, and
developments, and our Board oversees our risk mitigation strategy principally
 
through its Audit Committee and
Regulatory, Compliance and Cybersecurity Committee, as described in more detail below.
 
Our cybersecurity risk management program includes, among other
 
elements:
•
risk assessments designed to help identify material cybersecurity risks
 
to our information systems;
 
•
a security team principally responsible for managing our (i) cybersecurity
 
risk assessment processes, and
(ii) defining cybersecurity control standards;
•
the use of expert external service providers to assess, test or otherwise assist
 
with aspects of our
cybersecurity controls, and to respond to specific cybersecurity threats;
 
•
the review and assessment of past cybersecurity incidents with a view to
 
learning from those events to
further strengthen our cyber risk mitigation strategy;
 
•
a written cybersecurity incident response plan that includes procedures
 
for responding to cybersecurity
incidents; and
•
a Global Information Security Policy, together with more detailed information security policies,
procedures, standards, and guidelines.
 
In addition, all employees with systems access are required to participate
 
in mandatory annual cybersecurity and
anti-phishing courses, along with compliance programs.
 
Our employees who perform financial gatekeeper roles
also receive additional mandatory annual data security training specific
 
to spoofing, phishing and similar data
security threats.
 
Per written Company policies, employees are also required
 
to safeguard confidential information.
 
Our cybersecurity risk strategy is integrated into our overall enterprise
 
risk management program, and our
cybersecurity team is supported by and connected with the enterprise risk
 
management team.
 
Prior Cyber Incidents
 
In addition to immaterial and unrelated prior incidents at certain of
 
our subsidiaries, in October 2023 Henry Schein
experienced a cyber incident that primarily affected the operations of our North American
 
and European dental and
medical distribution businesses.
 
Henry Schein One, our practice management software, revenue cycle
 
management
and patient relationship management solutions business was not affected, and
 
our manufacturing businesses were
mostly unaffected.
 
The October 2023 cyber incident disrupted key business operations,
 
adversely impacted our
financial results for the fourth quarter and full year 2023, diverted
 
attention of management, and caused the
Company to incur significant remediation costs.
 
The incident had residual impact on our financial results in 2024.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block]
We have developed and implemented a cybersecurity risk mitigation strategy intended to protect our information
systems.
 
Our cybersecurity risk mitigation strategy is designed
 
so that the Company’s cybersecurity program is
aligned with generally accepted cybersecurity standards and frameworks,
 
in particular the NIST Cybersecurity
Framework, or “NIST CSF,” and our Company is externally audited, or certified, with ISO27001 partial scope.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight And Identification Processes [Flag] true
Cybersecurity Risk Materially Affected Or Reasonably Likely To Materially Affect Registrant [Flag] true
Cybersecurity Risk Materially Affected Or Reasonably Likely To Materially Affect Registrant [Text Block]
In addition to immaterial and unrelated prior incidents at certain of
 
our subsidiaries, in October 2023 Henry Schein
experienced a cyber incident that primarily affected the operations of our North American
 
and European dental and
medical distribution businesses.
 
Henry Schein One, our practice management software, revenue cycle
 
management
and patient relationship management solutions business was not affected, and
 
our manufacturing businesses were
mostly unaffected.
 
The October 2023 cyber incident disrupted key business operations,
 
adversely impacted our
financial results for the fourth quarter and full year 2023, diverted
 
attention of management, and caused the
Company to incur significant remediation costs.
 
The incident had residual impact on our financial results in 2024.
Cybersecurity Risk Board Of Directors Oversight [Text Block]
 
Cybersecurity Governance
 
Our Board has a Regulatory, Compliance and Cybersecurity Committee that focuses on cybersecurity oversight,
together with other board committees, principally the Audit Committee.
 
The purpose of the Regulatory,
Compliance and Cybersecurity Committee is to assist the Board by providing
 
guidance to, and oversight of, the
Company’s senior management responsible for assessing and managing Company-wide regulatory, corporate
compliance and cybersecurity risk management programs.
 
The primary responsibilities of the Regulatory,
Compliance and Cybersecurity Committee are to (i) discuss cybersecurity
 
strategic decisions, issues, challenges and
opportunities relating thereto, (ii) provide expertise to guide assessment
 
and monitoring of Company-wide
regulatory, corporate compliance and cybersecurity risk management budgeting, spending and capital investment,
(iii) monitor progress and status of the Company’s regulatory, corporate compliance and cybersecurity risk
management programs, (iv) review and evaluate major regulatory, corporate compliance and cybersecurity risk
management initiatives to identify emerging and future opportunities for synergy or to
 
leverage regulatory,
corporate compliance and cybersecurity risk management investments
 
more effectively and cost efficiently,
 
 
(v) report to the Audit Committee on regulatory, corporate compliance and cybersecurity risk management matters
reviewed by the Regulatory, Compliance and Cybersecurity Committee that may impact the Company’s financial
reporting and (vi) be generally available to, and communicate with,
 
the Company’s senior management, and to
inform the Board in the areas described above.
Our CISO and CTO, along with other key executives who are part of our Executive
 
Steering Committee, review
strategy, policy,
 
program effectiveness, standards, enforcement and cybersecurity issue management
 
with the
Board’s Regulatory,
 
Compliance and Cybersecurity Committee on at least a quarterly basis and
 
with the Audit
Committee on at least a bi-annual basis.
 
Our CTO
meets
 
with Board members outside of the formal meetings on a
regular basis as well as in connection with specific cybersecurity issues or
 
threats.
Cybersecurity Risk Board Committee Or Subcommittee Responsible For Oversight [Text Block]
The purpose of the Regulatory,
Compliance and Cybersecurity Committee is to assist the Board by providing
 
guidance to, and oversight of, the
Company’s senior management responsible for assessing and managing Company-wide regulatory, corporate
compliance and cybersecurity risk management programs.
Cybersecurity Risk Process For Informing Board Committee Or Subcommittee Responsible For Oversight [Text Block]
Our Board has a Regulatory, Compliance and Cybersecurity Committee that focuses on cybersecurity oversight,
together with other board committees, principally the Audit Committee.
 
The purpose of the Regulatory,
Compliance and Cybersecurity Committee is to assist the Board by providing
 
guidance to, and oversight of, the
Company’s senior management responsible for assessing and managing Company-wide regulatory, corporate
compliance and cybersecurity risk management programs.
 
The primary responsibilities of the Regulatory,
Compliance and Cybersecurity Committee are to (i) discuss cybersecurity
 
strategic decisions, issues, challenges and
opportunities relating thereto, (ii) provide expertise to guide assessment
 
and monitoring of Company-wide
regulatory, corporate compliance and cybersecurity risk management budgeting, spending and capital investment,
(iii) monitor progress and status of the Company’s regulatory, corporate compliance and cybersecurity risk
management programs, (iv) review and evaluate major regulatory, corporate compliance and cybersecurity risk
management initiatives to identify emerging and future opportunities for synergy or to
 
leverage regulatory,
corporate compliance and cybersecurity risk management investments
 
more effectively and cost efficiently,
 
 
(v) report to the Audit Committee on regulatory, corporate compliance and cybersecurity risk management matters
reviewed by the Regulatory, Compliance and Cybersecurity Committee that may impact the Company’s financial
reporting and (vi) be generally available to, and communicate with,
 
the Company’s senior management, and to
inform the Board in the areas described above.
Cybersecurity Risk Role Of Management [Text Block]
We maintain an Office of Cybersecurity (“OCS”), led by our Chief Information Security Officer (“CISO”), which
oversees
 
the operations of our cyber risk mitigation strategy.
 
The OCS is a cross-functional, enterprise-wide
management team, which continuously evaluates our global cybersecurity
 
program’s effectiveness and is focused
on maintaining and protecting our information systems.
 
In overseeing the operations of our cyber risk mitigation
strategy, the OCS partners with our Global Technology Solutions team, which is led by our Chief Technology
Officer (“CTO”) and is comprised of over one hundred professionals that support our information
 
systems and
operations.
 
Our cyber risk mitigation strategy includes
monitoring
 
for and addressing risks that materialize within
the Company’s information systems, as well as at our
third-party
 
vendors, suppliers and other third-party business
partners.
Cybersecurity Risk Management Positions Or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions Or Committees Responsible [Text Block]
We maintain an Office of Cybersecurity (“OCS”), led by our Chief Information Security Officer (“CISO”), which
oversees
 
the operations of our cyber risk mitigation strategy.
Cybersecurity Risk Management Expertise Of Management Responsible [Text Block]
Our CISO reports to our CTO.
 
Our CTO,
 
who also serves as Senior Vice President,
 
has more than 30 years of
experience leading large-scale global IT organizations and received a Bachelor of Business Administration
 
in
Business Computer Information Systems and a Master of Business Administration
 
from Hofstra University.
 
Our Vice President, Global CISO, who also serves as Vice
 
 
President and Head of the Office of Cyber Security, has over 30 years of experience leading global cybersecurity
and technology programs in large and complex corporations, and holds a Certified
 
Information Systems Security
Professional and a Certified Information Systems Auditor certification.
 
He also received a BS, Information
Technology and Security from Baker College.
 
The cybersecurity risk mitigation strategy is also overseen by
 
senior
managers who are members of our Executive Steering Committee, comprised
 
of the Company’s most senior
technology, legal and internal auditing officers.
 
Our CEO is regularly briefed on issues, incidents, and
developments, and our Board oversees our risk mitigation strategy principally
 
through its Audit Committee and
Regulatory, Compliance and Cybersecurity Committee, as described in more detail below.
Cybersecurity Risk Process For Informing Management Or Committees Responsible [Text Block]
Our CISO and CTO, along with other key executives who are part of our Executive
 
Steering Committee, review
strategy, policy,
 
program effectiveness, standards, enforcement and cybersecurity issue management
 
with the
Board’s Regulatory,
 
Compliance and Cybersecurity Committee on at least a quarterly basis and
 
with the Audit
Committee on at least a bi-annual basis.
 
Our CTO
meets
 
with Board members outside of the formal meetings on a
regular basis as well as in connection with specific cybersecurity issues or
 
threats.
Cybersecurity Risk Management Positions Or Committees Responsible Report To Board [Flag] true
v3.25.0.1
Basis of Presentation and Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 28, 2024
Basis of Presentation and Significant Accounting Policies [Abstract]  
Nature of Operations
Nature of Operations
We distribute health care products and value-added services primarily to office-based dental and medical
practitioners, across dental practices, laboratories, physician practices,
 
and ambulatory surgery centers, as well as
government, institutional health care clinics and alternate care clinics.
 
We also provide software and technology
services to health care practitioners.
 
Our dental businesses serve office-based dental practitioners, dental
laboratories, schools, government and other institutions.
 
Our medical businesses serve physician offices, urgent
care centers, ambulatory care sites, emergency medical technicians, dialysis centers,
 
home health, federal and state
governments and large enterprises, such as group practices and integrated delivery
 
networks, among other providers
across a wide range of specialties.
We have operations or affiliates in the United States, Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile,
China, the Czech Republic, France, Germany, Hong Kong SAR, Ireland, Israel, Italy, Japan, Liechtenstein,
Luxembourg, Mexico, Morocco, the Netherlands, New Zealand, Peru, Poland, Portugal, South
 
Africa, Spain,
Sweden, Switzerland, Thailand, United Arab Emirates and the United Kingdom.
Basis of Presentation
Basis of Presentation
Our consolidated financial statements include the accounts of Henry
 
Schein, Inc. and all of our controlled
subsidiaries and VIE.
 
All intercompany accounts and transactions are eliminated
 
in consolidation.
 
Investments in
unconsolidated affiliates for which we have the ability to influence the operating or
 
financial decisions are
accounted for under the equity method.
 
Certain prior period amounts have been reclassified to conform
 
to the
current period presentation.
 
These reclassifications, individually and in the aggregate, did not
 
have a material
impact on our consolidated financial condition, results of operations
 
or cash flows.
The primary beneficiary of a VIE is required to consolidate the assets and
 
liabilities of the VIE.
 
We are deemed to
be the primary beneficiary of the VIE when we have the power to direct activities
 
that most significantly affect its
economic performance and have the obligation to absorb the majority
 
of its losses or the right to receive benefits
that could potentially be significant to the VIE.
 
In determining whether we are the primary beneficiary, we
consider factors such as ownership interest, debt investments, management
 
representation, authority to control
decisions, and contractual and substantive participating rights of each party.
 
For this VIE, the trade accounts
receivable transferred to the VIE are pledged as collateral to the related debt.
 
The VIE’s creditors have recourse to
us for losses on these trade accounts receivable.
 
At December 28, 2024 and December 30, 2023,
 
certain trade
accounts receivable that can only be used to settle obligations of this VIE
 
were $
241
 
million and $
284
 
million,
respectively, and the liabilities of this VIE where the creditors have recourse to us were $
150
 
million and $
210
million, respectively.
Fair Value Measurements
 
 
 
 
 
 
 
 
 
 
 
Fair Value
 
Measurements
Fair value is defined as the price that would be received to sell an asset or
 
paid to transfer a liability in an orderly
transaction between market participants at the measurement date.
 
The fair value hierarchy distinguishes between
(1) market participant assumptions developed based on market data obtained
 
from independent sources (observable
inputs) and (2) an entity’s own assumptions about market participant assumptions developed based on the best
information available in the circumstances (unobservable inputs).
The fair value hierarchy consists of three broad levels, which gives the
 
highest priority to unadjusted quoted prices
in active markets for identical assets or liabilities (Level 1) and the lowest priority
 
to unobservable inputs (Level 3).
 
The three levels of the fair value hierarchy are described as follows:
 
 
•
 
Level 1— Unadjusted quoted prices in active markets for identical assets
 
or liabilities that are accessible at the
measurement date.
•
 
Level 2— Inputs other than quoted prices included within Level 1 that are
 
observable for the asset or liability,
either directly or indirectly.
 
Level 2 inputs include: quoted prices for similar assets or liabilities
 
in active markets;
quoted prices for identical or similar assets or liabilities in markets
 
that are not active; inputs other than quoted
prices that are observable for the asset or liability; and inputs that are
 
derived principally from or corroborated by
observable market data by correlation or other means.
•
 
Level 3— Inputs that are unobservable for the asset or liability.
Use of Estimates
 
 
 
 
 
 
 
 
 
 
Use of Estimates
The preparation of consolidated financial statements in conformity with
 
accounting principles generally accepted in
the United States requires us to make estimates and assumptions that
 
affect the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities at the date of
 
the financial statements and the reported
amounts of revenues and expenses during the reporting period.
 
Actual results could differ from those estimates.
Our consolidated financial statements reflect estimates and assumptions
 
made by us that affect, among other things,
our goodwill, long-lived asset and definite-lived intangible asset valuation;
 
inventory valuation; equity investment
valuation; assessment of the annual effective tax rate; valuation of deferred income
 
taxes and income tax
contingencies; the allowance for credit losses; hedging activity; supplier
 
rebates; measurement of compensation
cost for certain share-based performance awards and cash bonus plans; and
 
pension plan assumptions.
Fiscal Year
 
 
 
 
 
Fiscal Year
We report our results of operations and cash flows on a
52
 
or
53
 
weeks per fiscal year basis ending on the last
Saturday of December.
 
The year ended December 28, 2024 consisted of
52
 
weeks, and the years ended December
30, 2023 and December 31, 2022 consisted of
52
 
weeks and
53
 
weeks, respectively.
Revenue Recognition
 
 
 
 
 
 
 
Revenue Recognition
 
Revenue is recognized when a customer obtains control of promised goods
 
or services in an amount that reflects the
consideration that we expect to receive for those goods or services.
 
To recognize revenue, we:
•
 
identify the contract(s) with a customer;
 
•
 
identify the performance obligations in the contract;
 
•
 
determine the transaction price;
 
•
 
allocate the transaction price to the performance obligations in the contract;
 
and
 
•
 
recognize revenue when, or as, we satisfy a performance obligation.
We generate revenue from the sale of dental and medical consumable products, equipment, and services such as
equipment repair and financial services (Global Distribution and Value-Added Services revenues), company-
manufactured specialty products (Global Specialty Products revenue), and software
 
products and related services
(Global Technology revenues).
 
Provisions for discounts, rebates to customers, customer
 
returns and other contra
revenue adjustments are included in the transaction price at contract
 
inception by estimating the most likely amount
 
 
 
 
 
 
 
 
 
based upon historical data and estimates and are provided for in the
 
period in which the related sales are
recognized.
Revenue derived from the sale of consumable products and company-manufactured
 
specialty products is
recognized at the point in time when control transfers to the customer, (e.g. when legal title and risks and
 
rewards
of ownership transfer to the customer, we have no post-shipment obligations, and we have an enforceable
 
right to
payment).
 
Sales of consumable products typically entail high-volume, low-dollar
 
orders shipped using third-party
common carriers.
 
Revenue derived from the sale of equipment is recognized when control
 
transfers to the customer.
 
This occurs
when the equipment is delivered.
 
Such sales typically entail scheduled deliveries of large equipment primarily
 
by
equipment service technicians.
 
Most equipment requires minimal installation, which is
 
typically completed at the
time of delivery.
Our merchandise and equipment products generally carry standard warranty
 
terms provided by the manufacturer;
however, in instances where we provide a warranty on company-manufactured products or labor services, the
warranty costs are accrued in accordance with Accounting Standards Codification
 
(“ASC”) Topic 460 Guarantees.
 
At December 28, 2024 and December 30, 2023, we had accrued approximately
 
$
8
 
million and $
12
 
million,
respectively, for warranty costs.
 
Revenue derived from the sale of software products is recognized when
 
products are delivered to customers or
made available electronically.
 
Such software is generally installed by customers and does
 
not require extensive
training.
 
Revenue derived from post-contract customer support for software,
 
including annual support and/or
training, is generally recognized over time using time elapsed as the input method
 
that best depicts the transfer of
control to the customer.
 
Revenue derived from software sold on a Software-as-a-Service
 
basis is recognized ratably
over the subscription period as control is transferred to the customer.
Revenue derived from other sources, including freight charges, equipment repairs
 
and financial services, is
recognized when the related product revenue is recognized or when
 
the services are provided.
 
We apply the
practical expedient to treat shipping and handling activities performed after
 
the customer obtains control as
fulfillment activities, rather than a separate performance obligation in the
 
contract.
Sales, value-add and other taxes we collect concurrent with revenue-producing
 
activities are excluded from
revenue.
Some of our revenue is derived from bundled arrangements that include
 
multiple distinct performance obligations,
which are accounted for separately.
 
When we sell software products together with related services (i.e.,
 
training
and technical support), we allocate the transaction price to each
 
distinct performance obligation based on the
estimated standalone selling price for each performance obligation.
 
Bundled arrangements that include elements
that are not considered software consist primarily of equipment and the related
 
installation service.
 
We allocate
revenue for such arrangements based on the relative selling prices of the goods
 
or services.
 
If an observable selling
price is not available (i.e., because we or others do not sell the goods or
 
services separately), we use one of the
following techniques to estimate the standalone selling price: adjusted
 
market approach; cost-plus-margin
approach; or the residual method.
 
There is no specific hierarchy for the use of these methods, but
 
the estimated
selling price reflects our best estimate of what the selling prices of each deliverable
 
would be if it were sold
regularly on a standalone basis taking into consideration the cost structure
 
of our business, technical skill required,
customer location and other market conditions.
Sales Returns
Sales returns are recognized as a reduction of revenue by the amount
 
of expected returns and are recorded as refund
liability within accrued expenses-other within our consolidated balance sheets.
 
We estimate the sales return
liability based on historical data for specific products, adjusted as necessary
 
for new products.
 
The allowance for
returns is presented gross as a refund liability and we record a right of
 
return asset (and a corresponding adjustment
to cost of sales) for any products that we expect to be returned and resaleable.
Cost of Sales
The primary components of cost of sales include the cost of the product
 
(net of purchase discounts, supplier
chargebacks and rebates) and inbound and outbound freight charges.
Costs related to purchasing, receiving, inspections, warehousing,
 
internal inventory transfers and other costs of our
distribution network are included in selling, general and administrative
 
expenses along with other operating costs.
 
Total distribution network costs were $
105
 
million, $
105
 
million and $
103
 
million for the years ended December
28, 2024, December 30, 2023 and December 31, 2022, respectively.
Supplier Rebates
 
Supplier rebates are included as a reduction of cost of sales and are recognized
 
over the period they are earned.
 
The
factors we consider in estimating supplier rebate accruals include forecasted
 
inventory purchases,
 
sales, supplier
rebate contract terms, which generally provide for increasing rebates based
 
on either increased purchase or sales
volumes.
Direct Shipping and Handling Costs
Freight and other direct shipping costs are included in cost of sales.
 
Direct handling costs, which represent
primarily direct compensation costs of employees who pick, pack and otherwise
 
prepare, if necessary, merchandise
for shipment to our customers are reflected in selling, general and administrative
 
expenses.
 
Direct handling costs
were $
106
 
million, $
98
 
million and $
96
 
million for the years ended December 28, 2024, December 30, 2023
 
and
December 31, 2022, respectively.
Advertising and Promotional Costs
Advertising and Promotional Costs
We expense advertising and promotional costs as incurred.
 
Total advertising and promotional expenses were $
43
million, $
47
 
million and $
47
 
million for the years ended December 28, 2024, December 30, 2023 and
 
December
31, 2022, respectively.
Stock-Based Compensation Costs
Stock-Based Compensation Costs
We
measure stock-based compensation at the grant date, based on the estimated
 
fair value of the award, and
recognize the cost (net of estimated forfeitures) as compensation expense on
 
a straight-line basis over the requisite
service period for time-based restricted stock units and on a graded vesting
 
basis for the option awards.
 
For
performance-based awards, at each reporting date, we reassess whether achievement
 
of the performance condition
is probable and accrue compensation expense when achievement of
 
the performance condition is probable.
 
Our
stock-based compensation expense is reflected in selling, general and administrative
 
expenses.
Employment Benefit Plans and other Postretirement Benefit Plans
Employment Benefit Plans and other Postretirement Benefit Plans
Some of our employees in our international markets participate
 
in various noncontributory defined benefit plans.
 
We recognize the funded status, measured as the difference between the fair value of plan assets and the projected
benefit obligation.
 
Each unfunded plan is recognized as a liability and each funded
 
plan is recognized as either an
asset or liability based on its funded status.
 
We measure our plan assets and liabilities at the end of our fiscal year.
Net periodic pension costs and valuations are dependent on assumptions
 
used by third-party actuaries in calculating
those amounts.
 
These assumptions include discount rates, expected return on plan
 
assets, rate of future
compensation levels, retirement rates, mortality rates, and other factors.
 
We record the service cost component of
net pension cost in selling, general and administrative expenses within
 
our consolidated statements of income.
Gains and losses that result from changes in actuarial assumptions or
 
from actual experience that differs from
actuarial assumptions are recognized in and then amortized from Accumulated
 
other comprehensive income (loss).
Cash and Cash Equivalents
Cash and Cash Equivalents
 
We consider all highly liquid short-term investments with an original maturity of three months or less to be cash
equivalents.
 
Due to the short-term maturity of such investments,
 
the carrying amounts are a reasonable estimate of
fair value.
 
Outstanding checks in excess of funds on deposit of $
33
 
million and $
52
 
million, primarily related to
payments for inventory, were classified as accounts payable as of December 28, 2024 and December 30, 2023.
Accounts Receivable and Allowance for Credit Losses
Accounts Receivable and Allowance for Credit Losses
Accounts receivable are generally recognized when revenues are recognized.
 
In accordance with the “expected
credit loss” model, the carrying amount of accounts receivable is reduced
 
by a valuation allowance that reflects our
best estimate of the amounts that we do not expect to collect.
 
In addition to reviewing delinquent accounts
receivable, we consider many factors in estimating our reserve, including
 
types of customers and their credit
worthiness, experience and historical data adjusted for current conditions
 
and reasonable supportable forecasts.
 
We
record allowances for credit losses based upon a specific review of all
 
significant outstanding invoices.
 
For
those invoices not specifically reviewed, provisions are provided at differing rates,
 
based upon the age of the
receivable, the collection history associated with the geographic region
 
that the receivable was recorded in, current
economic trends and reasonable supportable forecasts.
 
We
write off a receivable and charge it against its recorded
allowance when we deem them uncollectible.
Our net accounts receivable balance was $
1,482
 
million, $
1,863
 
million, and $
1,442
 
million, at December 28, 2024,
December 30, 2023 and December 31, 2022, respectively.
The following table presents our allowances for credit losses:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of
Description
December 28,
2024
December 30,
2023
December 31,
2022
Balance at beginning of year
$
83
$
65
$
67
Provision for credit losses
14
17
6
Adjustments to existing allowances for late fees, foreign currency
exchange rates, and write-offs
(19)
1
(8)
Balance at end of year
$
78
$
83
$
65
Contract Balances
Contract Assets
Contract assets include amounts related to any conditional right to consideration
 
for work completed but not billed
as of the reporting date.
 
Contract assets are transferred to accounts receivable when
 
the right becomes
unconditional.
 
The contract assets primarily relate to our bundled arrangements for
 
the sale of equipment and
consumables and sales of term software licenses.
 
Current contract assets are included in Prepaid expenses and
other and the non-current contract assets are included in investments and other
 
within our consolidated balance
sheets.
 
Current and non-current contract asset balances as of December 28,
 
2024 and December 30, 2023 were not
material.
Contract Liabilities
Contract liabilities are comprised of advance payments and upfront payments
 
for service arrangements provided
over time that are accounted for as deferred revenue amounts.
 
Contract liabilities are transferred to revenue once
the performance obligation has been satisfied.
 
Current contract liabilities are included in accrued expenses: other
and the non-current contract liabilities are included in other liabilities
 
within our consolidated balance sheets.
During the years ended December 28, 2024, December 30, 2023, and December
 
31, 2022, we recognized
substantially all of the current contract liability amounts that were previously
 
deferred at the beginning of each
year.
The following table presents our contract liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of
Description
December 28,
2024
December 30,
2023
December 31,
2022
Current contract liabilities
$
81
$
89
$
86
Non-current contract liabilities
8
9
8
Total contract
 
liabilities
$
89
$
98
$
94
Inventories and Reserves
Inventories and Reserves
 
Inventories consist primarily of finished goods,
 
raw materials and work-in-process and are valued at the lower
 
of
cost or net realizable value.
 
Cost is determined by the weighted average method for merchandise and by
 
actual cost
for large equipment and high-tech equipment.
 
We manufacture certain of our products for our specialty businesses
(oral surgery solutions including dental implants, endodontics, and orthopedics).
 
In accordance with our policy for
inventory valuation, we consider many factors including the
 
condition and salability of the inventory, historical
sales, forecasted sales and market and economic trends.
 
From time to time, we adjust our assumptions for
anticipated changes in any of these or other factors expected to affect the value of inventory.
Property and Equipment
Property and Equipment
Property and equipment are stated at cost, net of accumulated depreciation or
 
amortization.
 
Depreciation is
computed under the straight-line method using estimated useful lives
 
Amortization of leasehold improvements is computed using the straight-line
 
method
over the lesser of the useful life of the assets or the remaining lease term.
Capitalized Software Development Costs
Capitalized Software Development Costs
Capitalized software costs consist of costs to purchase and develop software
 
for internal use and for sale or use by
customers.
 
For software to be used solely to meet internal needs, we capitalize
 
costs incurred during the
 
 
 
 
 
 
application development stage and include such costs within property
 
and equipment, net within our consolidated
balance sheets.
 
For software to be sold, leased, or marketed to external users, we capitalize
 
software development
costs when technological feasibility is reached, and for cloud-based applications
 
used to deliver our services we
capitalize costs incurred during the application development stage,
 
and include such costs within investments and
other within our consolidated balance sheets.
Leases
Leases
 
We
determine if an arrangement contains a lease at inception.
 
An arrangement contains a lease if it implicitly or
explicitly identifies an asset to be used and conveys the right to control
 
the use of the identified asset in exchange
for consideration.
 
As a lessee, we include operating leases in operating lease right-of-use
 
(“ROU”) assets,
operating lease liabilities, and non-current operating lease liabilities in our
 
consolidated balance sheets.
 
Finance
leases are included in property and equipment, current maturities of
 
long-term debt, and long-term debt in our
consolidated balance sheets.
 
ROU assets represent our right to use an underlying asset for the lease
 
term and lease liabilities represent our
obligation to make lease payments arising from the lease.
 
Operating lease ROU assets and liabilities are recognized
upon commencement of the lease based on the present value of the lease payments
 
over the lease term.
 
As most of
our leases do not provide an implicit interest rate, we generally use our incremental
 
borrowing rate based on the
estimated rate of interest for fully collateralized and fully amortizing borrowings
 
over a similar term of the lease
payments at commencement date to determine the present value of
 
lease payments.
 
When readily determinable, we
use the implicit rate.
 
Our lease terms may include options to extend or terminate the lease when it is reasonably
certain that we will exercise that option.
 
Lease expense for lease payments is recognized on a straight-line
 
basis
over the lease term.
 
Expenses associated with operating leases and finance leases
 
are included in selling, general
and administrative and interest expense, respectively within our consolidated
 
statement of income.
 
Short-term
leases with a term of 12 months or less are not capitalized.
We
have lease agreements with lease and non-lease components, which are
 
generally accounted for as a single
lease component, except non-lease components for leases of vehicles, which
 
are accounted for separately.
 
When a
vehicle lease contains both lease and non-lease components, we allocate the
 
transaction price based on the relative
standalone selling price.
Business Acquisitions
Business Acquisitions
We account for business acquisitions under the acquisition method of accounting, under which the net assets of
acquired businesses are recorded at their fair value at the acquisition
 
date and our consolidated financial statements
include the acquired businesses’ results of operations from that date.
Some prior owners of acquired subsidiaries are eligible to receive additional
 
purchase price cash consideration, or
we may be entitled to recoup a portion of purchase price cash consideration
 
if certain financial targets are met.
 
We
have accrued liabilities for the estimated fair value of additional purchase
 
price consideration at the time of the
acquisition, using the income approach, including a probability-weighted
 
discounted cash flow method or an option
pricing method, where applicable.
 
Any adjustments to these accrual amounts are recorded
 
in selling, general and
administrative within our consolidated statements of income.
 
While we use our best estimates and assumptions to accurately value
 
assets acquired and liabilities assumed at the
acquisition date, our estimates are inherently uncertain and subject
 
to refinement.
 
As a result, within
12 months
following the date of acquisition, or the measurement period, we
 
may record adjustments to the assets acquired and
liabilities assumed with the corresponding offset to goodwill within our consolidated balance
 
sheets.
 
At the end of
the measurement period or final determination of the values of such assets
 
acquired or liabilities assumed,
whichever comes first, any subsequent adjustments are recognized
 
in our consolidated statements of operations.
Goodwill
Goodwill
 
Any excess of acquisition consideration over the fair value of identifiable
 
net assets acquired is recorded as
goodwill.
 
Goodwill is an asset representing the future economic benefits
 
arising from other assets acquired in a
business combination that are not individually identified and separately
 
recognized, such as future customers and
technology, as well as the assembled workforce.
Goodwill represents, for acquired business, the excess of the purchase price
 
over the estimated fair value of the net
assets acquired, including the amount assigned to identifiable intangible
 
assets.
 
Goodwill is subject to impairment
analysis annually or more frequently if needed.
 
Such impairment analyses for goodwill requires a comparison
 
of
the fair value to the carrying value of reporting units.
 
We aggregate operating segments into the reportable
segments based on economic similarities, the nature of their products, customer
 
basis, and methods of distribution
as follows: Global Distribution and Value-Added Services; Global Specialty Products;
 
and Global Technology.
 
Goodwill was allocated to such reporting units, for the purpose of
 
preparing our impairment analyses, based on a
specific identification basis.
During the fourth quarter of our fiscal year ended December 28, 2024,
 
we revised our segment structure to align
with how our Chairman and Chief Executive Officer manages the business, assesses
 
performance and allocates
resources.
 
Our revised reportable segments now consist of: (i) Global Distribution
 
and Value
 
-Added Services; (ii)
Global Specialty Products;
 
and (iii) Global Technology.
 
Reporting units under the former structure were tested for
impairment, and no impairment was identified.
 
As a result of the realignment and the change in operating
segments, we reallocated goodwill to each of our new reporting units using
 
a relative fair value approach.
 
Based on
the impairment test under the new structure, it was determined that the
 
fair values of our reporting units more likely
than not exceeded their carrying values, resulting in no impairment.
 
For both the former and new structure
goodwill impairment tests as of September 30, 2024, the fair values of reporting
 
units were computed using the
methodology described above.
Application of the goodwill impairment test requires judgment, including
 
the identification of reporting units,
assignment of assets and liabilities that are considered shared services
 
to the reporting units, and ultimately the
determination of the fair value of each reporting unit.
 
The fair value of each reporting unit is calculated by
applying the discounted cash flow methodology and confirming with
 
a market approach.
 
There are inherent
uncertainties related to fair value models, the inputs and our judgments
 
in applying them to this analysis.
 
The most
significant inputs include estimation of future cash flows based on budget
 
expectations, and determination of
comparable companies to develop a weighted average cost of capital for each
 
reporting unit.
In connection with our restructuring initiatives, during the year ended
 
December 28, 2024, we recorded an $
11
million impairment of goodwill in the Global Specialty Products segment,
 
relating to the disposal of a portion of a
business; such impairment was calculated based on the relative fair value
 
of goodwill.
 
For the year ended
December 31, 2022, we recorded a $
20
 
million impairment of goodwill, in the Global Specialty Products segment,
relating to the disposal of an unprofitable business for which estimated
 
fair value was lower than carrying value.
Intangible Assets
Intangible Assets
In connection with our business acquisitions, the major classes of
 
assets and liabilities to which we generally
allocate acquisition consideration to, excluding goodwill, include
 
identifiable intangible assets (i.e., customer
relationships and lists, trademarks and trade names, product development
 
and non-compete agreements), inventory
and accounts receivable.
 
The estimated fair value of identifiable intangible assets
 
is based on critical judgments
and assumptions derived from analysis of market conditions, including
 
discount rates, projected revenue growth
rates (which are based on historical trends and assessment of financial projections),
 
estimated customer attrition and
projected cash flows.
 
We have calculated the value of these intangible assets using the multi-period excess
 
 
earnings method, the relief-from-royalty method, and the with and without
 
method, where applicable.
 
These
assumptions are forward-looking and could be affected by future economic and
 
market conditions.
 
Intangible assets, other than goodwill, are evaluated for impairment whenever
 
events or changes in circumstances
indicate that the carrying amount of the assets may not be recoverable
 
through the undiscounted future cash flows
expected to be derived from such asset or asset group.
Definite and indefinite-lived intangible assets primarily consist of non-compete
 
agreements, trademarks, trade
names, customer lists, customer relationships and product development.
 
For long-lived assets used in operations,
impairment losses are only recorded if the asset or asset groups carrying amount
 
is not recoverable through its
undiscounted future cash flows.
 
We measure the impairment loss based on the difference between the carrying
amount and the estimated fair value.
 
When an impairment exists, the related assets are written down to
 
fair value.
During the years ended December 28, 2024, December 30, 2023
 
and December 31, 2022, we recorded total
impairment charges within the selling, general and administrative line of our consolidated statements
 
of income on
intangible assets of $
0
 
million, $
7
 
million and $
34
 
million, respectively, as more fully discussed in
 
 
 
During the years ended December 28, 2024, December 30, 2023
 
and
December 31, 2022, we recorded impairment charges, within the restructuring and
 
integration costs line of our
consolidated statements of income, of $
14
 
million, $
12
, million, and $
35
 
million, respectively.
Income Taxes
Income Taxes
We account for income taxes under an asset and liability approach that requires the recognition of deferred income
tax assets and liabilities for the expected future tax consequences of events
 
that have been recognized in our
financial statements or tax returns.
 
In estimating future tax consequences, we generally consider all expected
 
future
events other than expected enactments of changes in tax laws or rates.
 
The effect on deferred income tax assets and
liabilities of a change in tax rates is recognized as income or expense in
 
the period that includes the enactment date.
 
We file a consolidated U.S. federal income tax return with our 80% or greater owned U.S. subsidiaries.
Redeemable Noncontrolling Interests
Redeemable Noncontrolling Interests
Some minority stockholders in certain of our consolidated subsidiaries have
 
the right, at certain times, to require us
to acquire their ownership interest in those entities at fair value.
 
Their interests in these subsidiaries are classified
outside permanent equity on our consolidated balance sheets and are
 
carried at the estimated redemption amounts.
 
The redemption amounts have been estimated based on recent transactions
 
and/or implied multiples of earnings
and, if such earnings and cash flows are not achieved, the value of the
 
redeemable noncontrolling interests might be
impacted.
 
Changes in the estimated redemption amounts of the noncontrolling
 
interests subject to put options are
reflected at each reporting period with a corresponding adjustment
 
to Additional paid-in capital.
 
Future reductions
in the carrying amounts are subject to a “floor” amount that is equal
 
to the fair value of the redeemable
noncontrolling interests at the time they were originally recorded.
 
The recorded value of the redeemable
noncontrolling interests cannot go below the floor level.
 
Adjustments to the carrying amount of noncontrolling
interests to reflect a fair value redemption feature do not impact the
 
calculation of earnings per share.
 
Our net
income is reduced by the portion of the subsidiaries’ net income
 
that is attributable to redeemable noncontrolling
interests.
Noncontrolling Interests
Noncontrolling Interests
Noncontrolling interest represents the ownership interests of certain
 
minority owners of our consolidated
subsidiaries.
 
Our net income is reduced by the portion of the subsidiaries’
 
net income that is attributable to
noncontrolling interests.
Comprehensive Income
Comprehensive Income
Comprehensive income includes certain gains and losses that, under accounting
 
principles generally accepted in the
United States, are excluded from net income as such amounts are recorded
 
directly as an adjustment to
stockholders’ equity.
 
Our comprehensive income is primarily comprised of net income,
 
foreign currency
translation gain (loss), unrealized gain (loss) from hedging activities
 
and unrealized pension adjustment gain.
Risk Management and Derivative Financial Instruments
 
Risk Management and Derivative Financial Instruments
 
We use derivative instruments to minimize our exposure to fluctuations in foreign currency exchange rates, interest
rates, and our unfunded non-qualified supplemental retirement plan (“SERP”)
 
and our deferred compensation plan
(“DCP”).
 
Our objective is to manage the impact that foreign currency
 
exchange rate fluctuations could have on
recognized asset and liability fair values, earnings and cash flows, as well
 
as our net investments in foreign
subsidiaries, the interest rate risk on variable rate debt, and the returns on
 
our SERP and DCP.
 
Our risk
management policy requires that derivative contracts used as hedges be
 
effective at reducing the risks associated
with the exposure being hedged and be designated hedges at inception
 
of the contracts.
 
We do not enter into
derivative instruments for speculative purposes.
 
Our derivative instruments primarily include foreign currency
forward contracts, total return swaps, and interest rate swaps.
 
Foreign currency forward agreements related to forecasted inventory
 
purchase commitments with foreign suppliers,
foreign currency swaps related to foreign currency denominated debt, and
 
interest rate swaps related to variable rate
debt are designated as cash flow hedges.
 
For derivatives that are designated and qualify as cash flow hedges,
 
the
changes in the fair value of the derivatives are recorded as a
 
component of Accumulated other comprehensive
income in stockholders’ equity and subsequently reclassified into
 
earnings in the period(s) during which the hedged
transactions affect earnings.
 
We classify the cash flows related to our hedging activities in the same category in our
consolidated statements of cash flows as the cash flows related
 
to the hedged item.
Foreign currency forward contracts related to our euro-denominated
 
foreign operations are designated as net
investment hedges.
 
For derivatives that are designated and qualify as net investment
 
hedges, changes in the fair
value of the derivatives are recorded in the foreign currency translation gain
 
(loss) component of Accumulated
other comprehensive income in stockholders’ equity until the net
 
investment is sold or substantially liquidated.
Interest swap agreements are entered into for the purpose of hedging
 
the cash flow of our variable interest rate term
loan.
Our foreign currency forward agreements related to foreign currency
 
balance sheet exposure provide economic
hedges but are not designated as hedges for accounting purposes.
For agreements not designated as hedges, changes in the value of the derivative,
 
along with the transaction gain or
loss on the hedged item, are recorded in other, net, within our consolidated statements of income.
Total return swaps are entered into for the purpose of economically hedging our SERP and DCP.
 
These swaps are
expected to be renewed on an annual basis.
 
Changes in the fair values of these total return swaps are recorded in
selling, general, and administrative expenses within our consolidated
 
statements of income and offset recognized
changes in the fair values of our SERP and DCP liabilities.
Foreign Currency Translation and Transactions
Foreign Currency Translation
 
and Transactions
The financial position and results of operations of our foreign subsidiaries
 
are determined using local currencies as
the functional currencies.
 
Assets and liabilities of foreign subsidiaries are translated at the exchange
 
rate in effect at
each year-end.
 
Income statement accounts are translated at the average rate
 
of exchange prevailing during the year.
 
Translation adjustments arising from the use of differing exchange rates from period to period are included
 
in
Accumulated other comprehensive income in stockholders’ equity.
 
Gains and losses resulting from foreign
currency transactions are included in earnings.
Accounting Pronouncements Adopted and Recently Issued Accounting Standards
Accounting Pronouncements Adopted
 
During the year ended December 28, 2024, we adopted Accounting Standards
 
Update (“ASU”) 2023-07, “
Segment
Reporting (Topic 280): Improvements to Reportable Segments
” (“Topic 280”),
 
which aims to improve financial
reporting by requiring disclosure of incremental segment information on an annual
 
and interim basis for all public
entities to enable investors to develop more decision-useful financial analyses.
 
The amendments in Topic 280 do
not change how a public entity identifies its operating segments, aggregates
 
those operating segments, or applies
the quantitative thresholds to determine its reportable segments.
 
We adopted Topic
 
280 on a retrospective basis,
which resulted in the required additional disclosures included in our 2024
 
fiscal year annual consolidated financial
statements.
 
During the year ended December 30, 2023, we adopted ASC Topic 848,
“Reference Rate Reform” (Topic 848):
Facilitation of the Effects of Reference Rate Reform on Financial Reporting”
 
which provides optional expedients
and exceptions for applying GAAP to contracts, hedging relationships and
 
other transactions affected by the
discontinuation of the London Interbank Offered Rate or by another reference rate
 
expected to be discontinued
because of reference rate reform.
 
The adoption of Topic 848 did not have a material impact on our consolidated
financial statements.
Recently Issued Accounting Standards
In November 2024, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update
(“ASU”) 2024-03, “
Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosure
(Subtopic 220-40)
:
Disaggregation of Income Statement Expenses
,” which requires additional disclosure about the
specific expense categories in the notes to financial statements at interim and
 
annual reporting periods.
 
The
amendments in this ASU do not change or remove current expense
 
disclosure requirements but affect where this
information appears in the notes to financial statements.
 
This ASU is effective for annual reporting periods
beginning after December 15, 2026, and interim reporting periods beginning
 
after December 15, 2027, with early
adoption permitted.
 
Upon adoption, the guidance can be applied prospectively or retrospectively.
 
We are currently
evaluating the impact that ASU 2024-03 will have on our consolidated
 
financial statements.
In March 2024, the FASB issued ASU 2024-01, “
Compensation - Stock Compensation (Topic 718): Scope
Application of Profits Interest and Similar Awards,
” which clarifies how to determine whether profits interest and
similar awards should be accounted for as a share-based payment arrangement
 
under Topic 718 or within the scope
of other guidance.
 
The ASU provides an illustrative example with multiple fact patterns
 
and amends the structure
of paragraph 718-10-15-3 of Topic 718 to improve its clarity and operability.
 
The guidance in ASU 2024-01
applies to all entities that issue profits interest awards as compensation
 
to employees or nonemployees in exchange
for goods or services.
 
Entities can apply the amendments either retrospectively to
 
all periods presented in the
financial statements or prospectively to profits interest awards granted
 
or modified on or after the date of adoption.
 
If prospective application is elected, an entity must disclose the nature
 
of and reason for the change in accounting
principle that resulted from the adoption of the ASU.
 
This ASU is effective for fiscal years beginning after
 
 
December 15, 2024, including interim periods within those fiscal years.
 
We do not expect that the requirements of
ASU 2024-01 will have a material impact on our consolidated financial
 
statements.
In December 2023, the FASB issued ASU 2023-09, “
Income Taxes (Topic
 
740): Improvements to Income Tax
Disclosures
,” which requires public business entities to disclose additional
 
information in specified categories with
respect to the reconciliation of the effective tax rate to the statutory rate for federal, state and
 
foreign income taxes.
 
It also requires greater detail about individual reconciling items in
 
the rate reconciliation to the extent the impact of
those items exceeds a specified threshold.
 
In addition to new disclosures associated with the rate reconciliation,
 
the
ASU requires information pertaining to taxes paid (net of refunds received)
 
to be disaggregated for federal, state,
and foreign taxes and further disaggregated for specific jurisdictions
 
to the extent the related amounts exceed a
quantitative threshold.
 
The ASU also describes items that need to be disaggregated
 
based on their nature, which is
determined by reference to the item’s fundamental or essential characteristics, such as the transaction or event
 
that
triggered the establishment of the reconciling item and the activity with which
 
the reconciling item is associated.
 
The ASU eliminates the historic requirement that entities disclose information
 
concerning unrecognized tax
benefits having a reasonable possibility of significantly increasing
 
or decreasing in the 12 months following the
reporting date.
 
This ASU is effective for annual periods beginning after December 15, 2024.
 
Early adoption is
permitted for annual financial statements that have not yet been
 
issued or made available for issuance.
 
This ASU
should be applied on a prospective basis; however, retrospective application is permitted.
 
We are currently
evaluating the impact that ASU 2023-09 will have on our consolidated
 
financial statements.
v3.25.0.1
Net Sales from Contracts with Customers (Tables)
 12 Months Ended
Dec. 28, 2024
Net Sales from Contracts with Customers [Abstract]  
Disaggregation of Net Sales
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Years
 
Ended
 
December 28,
2024
December 30,
2023
December 31,
2022
Net Sales:
Global Distribution and Value
 
-Added Services
Global Dental merchandise
$
4,727
$
4,787
$
4,763
Global Dental equipment
1,719
1,671
1,715
Global Value
 
-added services
233
191
151
Global Dental
6,679
6,649
6,629
Global Medical
 
4,081
3,912
4,346
Total Global Distribution
 
and Value
 
-Added Services
10,760
10,561
10,975
Global Specialty Products
1,446
1,331
1,273
Global Technology
630
602
549
Eliminations
(163)
(155)
(150)
Total
$
12,673
$
12,339
$
12,647
v3.25.0.1
Segment and Geographic Data (Tables)
 12 Months Ended
Dec. 28, 2024
Segment and Geographic Data [Abstract]  
Business Segment Information
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Years Ended
December 28,
December 30,
December 31,
2024
2023
2022
Gross Sales:
Global Distribution and Value
 
-Added Services
(1)
$
10,760
$
10,561
$
10,975
Global Specialty Products
(2)
1,446
1,331
1,273
Global Technology
(3)
630
602
549
Total Gross Sales
12,836
12,494
12,797
Less: Eliminations:
Global Distribution and Value
 
-Added Services
 
(31)
(36)
(22)
Global Specialty Products
(132)
(119)
(128)
Total eliminations
(163)
(155)
(150)
Net Sales
Global Distribution and Value
 
-Added Services
 
10,729
10,525
10,953
Global Specialty Products
 
1,314
1,212
1,145
Global Technology
630
602
549
Total Net Sales
$
12,673
$
12,339
$
12,647
Years Ended
December 28,
December 30,
December 31,
2024
2023
2022
Operating Income
Global Distribution and Value
 
-Added Services
$
696
$
665
$
833
Global Specialty Products
178
175
192
Global Technology
152
142
125
Total Segment Operating Income
1,026
982
1,150
Corporate
(77)
(92)
(112)
Adjustments
(4)
(328)
(275)
(291)
Total Operating Income
$
621
$
615
$
747
Depreciation and Amortization
Global Distribution and Value
 
-Added Services
$
141
$
122
$
112
Global Specialty Products
110
80
61
Global Technology
46
46
39
Total
$
297
$
248
$
212
Global Distribution and Value
 
-Added Services: Includes distribution of infection-control products, handpieces, preventatives,
impression materials, composites, anesthetics, teeth, gypsum, acrylics, articulators, abrasives, PPE products, branded and generic
pharmaceuticals, vaccines, surgical products, diagnostic tests, dental chairs, delivery units and lights, digital dental laboratories, X-
ray supplies and equipment, high-tech and digital restoration equipment, equipment repair services, financial services on a non-
recourse basis, continuing education services for practitioners, consulting and other services.
 
This segment also markets and sells
under our own corporate brand, a portfolio of cost-effective, high-quality consumable merchandise.
(2)
Global Specialty Products: Includes manufacturing, marketing and sales of dental implant and biomaterial products; and
endodontic, orthodontic and orthopedic products and other health care-related products and services.
(3)
Global Technology: Includes development and distribution of practice management software, e-services, and other products, which
are distributed to health care providers.
Adjustments represent items excluded from segment operating income to enable comparison of financial results between periods.
 
The following table presents a breakdown of such adjustments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Years Ended
December 28,
December 30,
December 31,
2024
2023
2022
Adjustments:
Restructuring costs
$
(110)
$
(80)
$
(131)
Acquisition intangible amortization
(184)
(150)
(126)
Cyber incident-third-party advisory expenses, net of insurance
31
(11)
-
Changes in contingent consideration
(45)
-
-
Litigation settlements
(6)
-
-
Impairment of capitalized assets
(12)
(27)
-
Impairment of intangible assets
-
(7)
(34)
Costs associated with shareholder advisory matters
(2)
-
-
Total adjustments
$
(328)
$
(275)
$
(291)
Operations by Geographic Area
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2024
2023
2022
Net Sales
Long-Lived
Assets
Net Sales
Long-Lived
Assets
Net Sales
Long-Lived
Assets
United States
 
$
8,803
$
3,453
$
8,641
$
3,273
$
9,197
$
2,730
Other
 
3,870
2,281
3,698
2,341
3,450
1,417
Consolidated total
 
$
12,673
$
5,734
$
12,339
$
5,614
$
12,647
$
4,147
v3.25.0.1
Business Acquisitions (Tables)
 12 Months Ended
Dec. 28, 2024
TriMed [Member]  
Business Acquisition [Line Items]  
Acquisition Consideration
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Final Allocation
Acquisition consideration:
Cash
$
141
Deferred consideration
21
Redeemable noncontrolling interests
153
Total consideration
$
315
Identifiable assets acquired and liabilities assumed:
Current assets
$
35
Intangible assets
221
Other noncurrent assets
10
Current liabilities
(7)
Deferred income taxes
(62)
Other noncurrent liabilities
(6)
Total identifiable
 
net assets
191
Goodwill
124
Total net assets acquired
$
315
Intangible Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2024
Weighted Average
 
Useful
Lives (in years)
Product development
$
204
9
Trademarks / Tradenames
9
7
In process research & development
8
Not Applicable
Total
$
221
Shield Healthcare, Inc. [Member]  
Business Acquisition [Line Items]  
Acquisition Consideration
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Final Allocation
Acquisition consideration:
Cash
$
289
Deferred consideration
22
Redeemable noncontrolling interests
37
Total consideration
$
348
Identifiable assets acquired and liabilities assumed:
Current assets
$
41
Intangible assets
166
Other noncurrent assets
16
Current liabilities
(24)
Deferred income taxes
(43)
Other noncurrent liabilities
(7)
Total identifiable
 
net assets
149
Goodwill
199
Total net assets acquired
$
348
Intangible Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2023
Weighted Average
 
Useful
Lives (in years)
Customer relationships and lists
$
156
12
Trademarks / Tradenames
10
5
Total
$
166
S.I.N. Implant System [Member]  
Business Acquisition [Line Items]  
Acquisition Consideration
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Final Allocation
Acquisition consideration:
Cash
$
329
Total consideration
$
329
Identifiable assets acquired and liabilities assumed:
Current assets
$
73
Intangible assets
87
Other noncurrent assets
48
Current liabilities
(33)
Long-term debt
(22)
Deferred income taxes
(38)
Other noncurrent liabilities
(27)
Total identifiable
 
net assets
88
Goodwill
241
Total net assets acquired
$
329
Intangible Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2023
Weighted Average
 
Useful
Lives (in years)
Customer relationships and lists
$
38
7
Product development
36
8
Trademarks / Tradenames
13
10
Total
$
87
Biotech Dental [Member]  
Business Acquisition [Line Items]  
Acquisition Consideration
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Final Allocation
Acquisition consideration:
Cash
$
216
Fair value of contributed equity share in a controlled subsidiary
25
Redeemable noncontrolling interests
182
Total consideration
$
423
Identifiable assets acquired and liabilities assumed:
Current assets
$
74
Intangible assets
189
Other noncurrent assets
69
Current liabilities
(60)
Long-term debt
(73)
Deferred income taxes
(53)
Other noncurrent liabilities
(20)
Total identifiable
 
net assets
126
Goodwill
297
Total net assets acquired
$
423
Intangible Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2023
Weighted Average
 
Useful
Lives (in years)
Product development
$
124
10
Customer relationships and lists
47
9
Trademarks / Tradenames
18
7
Total
$
189
v3.25.0.1
Inventories, Net (Tables)
 12 Months Ended
Dec. 28, 2024
Inventories, Net [Abstract]  
Schedule of Inventory, Net
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
December 28,
2024
December 30,
2023
Finished goods
$
1,710
$
1,724
Raw materials
61
54
Work-in process
39
37
Inventories, net
$
1,810
$
1,815
v3.25.0.1
Property and Equipment, Net (Tables)
 12 Months Ended
Dec. 28, 2024
Property, Plant and Equipment [Abstract]  
Property and Equipment, Including Related Estimated Useful Lives
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 28,
December 30,
2024
2023
Land
 
$
20
$
21
Buildings and permanent improvements
 
164
166
Leasehold improvements
 
109
103
Machinery and warehouse equipment
 
257
250
Furniture, fixtures and other
 
128
130
Computer equipment and software
 
523
500
1,201
1,170
Less accumulated depreciation and amortization
(670)
(672)
Property and equipment, net
 
$
531
$
498
Estimated Useful
Lives (in years)
Buildings and permanent improvements
 
40
Machinery and warehouse equipment
 
5
-
15
Furniture, fixtures and other
 
3
-
10
Computer equipment and software
 
3
-
10
v3.25.0.1
Leases (Tables)
 12 Months Ended
Dec. 28, 2024
Leases [Abstract]  
Components of Lease Expense, Supplemental Cash Flow and Supplemental Balance Sheet Information
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Years
 
Ended
December 28,
December 30,
December 31,
2024
2023
2022
Operating lease cost:
$
107
$
99
$
132
Variable
 
lease cost
12
12
11
Short-term lease cost
11
10
7
Total operating lease cost
 
(1)
130
121
150
Finance lease cost
4
5
3
Total lease cost
$
134
$
126
$
153
(1)
Total operating lease cost for the years ended December 28, 2024, December 30, 2023 and December 31, 2022, included costs of
$
17
 
million, $
11
 
million and $
42
 
million, respectively, related to facility leases recorded in "Restructuring and integration costs"
within our consolidated statements of income.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Years
 
Ended
December 28,
December 30,
2024
2023
Operating Leases:
Operating lease right-of-use assets
$
293
$
325
Current operating lease liabilities
75
80
Non-current operating lease liabilities
259
310
Total operating lease liabilities
$
334
$
390
Finance Leases:
Property and equipment, at cost
$
16
$
18
Accumulated depreciation
(9)
(9)
Property and equipment, net of accumulated depreciation
$
7
$
9
Current maturities of long-term debt
$
3
$
4
Long-term debt
3
4
Total finance
 
lease liabilities
$
6
$
8
Weighted Average
 
Remaining Lease Term in
 
Years:
Operating leases
5.9
6.6
Finance leases
2.7
2.6
Weighted
 
Average Discount
 
Rate:
Operating leases
4.2
%
3.6
%
Finance leases
4.4
%
4.0
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Years
 
Ended
December 28,
December 30,
2024
2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases
$
94
$
92
Financing cash flows for finance leases
4
5
Right-of-use assets obtained in exchange for lease obligations:
Operating leases
 
$
76
$
124
Finance leases
2
4
Maturities of Finance and Operating Lease Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 28, 2024
Operating
Finance
Leases
Leases
2025
$
87
$
3
2026
74
2
2027
56
1
2028
43
1
2029
37
-
Thereafter
81
-
Total future
 
lease payments
378
7
Less imputed interest
44
1
Total
$
334
$
6
v3.25.0.1
Goodwill and Other Intangibles, Net (Tables)
 12 Months Ended
Dec. 28, 2024
Goodwill and Other Intangibles, Net [Abstract]  
Changes in the Carrying Amount of Goodwill
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Global
Distribution and
Value-Added
Services
Global Specialty
Products
Global
Technology
Total
Balance as of December 31, 2022
 
$
1,652
$
481
$
760
$
2,893
Adjustments to goodwill:
-
-
-
Acquisitions
 
338
578
29
945
Foreign currency translation
 
17
18
2
37
Balance as of December 30, 2023
 
2,007
1,077
791
3,875
Adjustments to goodwill:
Acquisitions
 
41
107
-
148
Disposal
-
(11)
(2)
(13)
Foreign currency translation
 
(39)
(80)
(4)
(123)
Balance as of December 28, 2024
 
$
2,009
$
1,093
$
785
$
3,887
Other Intangible Assets - Finite-Lived
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 28, 2024
Weighted Average
Accumulated
Remaining Life
Cost
Amortization
Net
(in years)
Customer relationships and lists
$
915
$
(356)
$
559
10
Trademarks / Tradenames
188
(89)
99
8
Product development
403
(71)
332
9
Non-compete agreements
21
(6)
15
4
Other
 
28
(10)
18
15
Total
 
$
1,555
$
(532)
$
1,023
December 30, 2023
Weighted Average
Accumulated
Remaining Life
Cost
Amortization
Net
(in years)
Customer relationships and lists
$
984
$
(346)
$
638
10
Trademarks / Tradenames
168
(69)
99
8
Product development
205
(62)
143
9
Non-compete agreements
21
(6)
15
5
Other
 
39
(18)
21
10
Total
 
$
1,417
$
(501)
$
916
v3.25.0.1
Investments and Other (Tables)
 12 Months Ended
Dec. 28, 2024
Investments and Other [Abstract]  
Investments and Other
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 28,
December 30,
2024
2023
Investments in unconsolidated affiliates
 
$
170
$
180
Non-current deferred foreign, state and local income taxes
 
47
38
Notes receivable
(1)
63
44
Capitalized costs for software and cloud based applications for external use
90
95
Security deposits
 
4
4
Acquisition-related indemnification assets
39
46
Non-current pension assets
9
9
Non-current inventory
27
-
Other
52
55
Total
 
$
501
$
471
(1)
Long-term notes receivable carry interest rates ranging from
3.0
% to
11.0
% and are due in varying installments through
November 21, 2028
.
v3.25.0.1
Fair Value Measurements (Tables)
 12 Months Ended
Dec. 28, 2024
Fair Value Measurements [Abstract]  
Fair value - assets and liabilities measured and recognized on a recurring basis
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 28, 2024
Level 1
Level 2
Level 3
Total
Assets:
Derivative contracts designated as hedges
$
-
$
10
$
-
$
10
Derivative contracts undesignated
-
7
-
7
Total assets
 
$
-
$
17
$
-
$
17
Liabilities:
Derivative contracts designated as hedges
$
-
$
5
$
-
$
5
Derivative contracts undesignated
-
4
-
4
Total return
 
swaps
-
3
-
3
Contingent consideration
-
-
30
30
Total liabilities
 
$
-
$
12
$
30
$
42
Redeemable noncontrolling interests
 
$
-
$
-
$
806
$
806
December 30, 2023
Level 1
Level 2
Level 3
Total
Assets:
Derivative contracts designated as hedges
$
-
$
1
$
-
$
1
Derivative contracts undesignated
-
1
-
1
Total return
 
swap
-
4
-
4
Total assets
 
$
-
$
6
$
-
$
6
Liabilities:
Derivative contracts designated as hedges
$
-
$
18
$
-
$
18
Derivative contracts undesignated
-
2
-
2
Total liabilities
 
$
-
$
20
$
-
$
20
Redeemable noncontrolling interests
 
$
-
$
-
$
864
$
864
v3.25.0.1
Derivatives and Hedging Activities (Tables)
 12 Months Ended
Dec. 28, 2024
Derivatives and Hedging Activities [Abstract]  
Summary of Terms and Fair Value of Derivative Instruments
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 28, 2024
Notional
Amount
Classification
Fair
Value
Maturity Date
Derivatives used in cash flow hedges:
Foreign currency forward contracts
$
84
Prepaid expenses and other
$
-
October 30, 2025
Interest rate swaps
713
Accrued expenses, other
(3)
July 13, 2026
Derivatives used in net investment hedges:
Foreign currency forward contracts
336
Prepaid expenses and other
9
November 3, 2028
Undesignated hedging relationships:
Total return
 
swaps
106
Accrued expenses, other
(3)
December 30, 2024
Total
$
1,239
$
3
December 30, 2023
Notional
Amount
Classification
Fair
Value
Maturity Date
Derivatives used in cash flow hedges:
Foreign currency forward contracts
$
102
Accrued expenses, other
$
(1)
November 21, 2024
Interest rate swaps
741
Accrued expenses, other
(10)
July 13, 2026
Derivatives used in net investment hedges:
Foreign currency forward contracts
352
Accrued expenses, other
(6)
November 3, 2028
Undesignated hedging relationships:
Total return
 
swaps
96
Prepaid expenses and other
4
January 3, 2024
Total
$
1,291
$
(13)
Summary of Effect of Cash Flow and Net Investment Hedges on Statements of Income
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Years
 
Ended
December 28,
December 30,
December 31,
2024
2023
2022
Derivatives used in cash flow hedges:
Foreign currency forward contracts
$
-
$
(1)
$
-
Interest rate swaps
6
(7)
-
Derivatives used in net investment hedges:
Foreign currency forward contracts
7
(10)
7
Total
 
$
13
$
(18)
$
7
v3.25.0.1
Debt (Tables)
 12 Months Ended
Dec. 28, 2024
Debt [Abstract]  
Bank Credit Lines
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 28,
December 30,
2024
2023
Revolving credit agreement
$
-
$
200
Other short-term bank credit lines
650
64
Total
$
650
$
264
Schedule of Long-Term Debt
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 28,
December 30,
2024
2023
Private placement facilities
 
$
975
$
1,074
Term loan
712
741
U.S. trade accounts receivable securitization
150
210
Various
 
collateralized and uncollateralized loans payable with interest,
in varying installments through 2031 at interest rates
from
0.00
% to
9.42
% at December 28, 2024 and
from
0.00
% to
9.42
% at December 30, 2023
43
54
Finance lease obligations
6
8
Total
 
1,886
2,087
Less current maturities
(56)
(150)
Total long-term debt
 
$
1,830
$
1,937
Schedule of Long-Term Debt Maturities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2025
 
$
56
2026
 
690
2027
 
257
2028
 
180
2029
 
102
Thereafter
 
601
Total
 
$
1,886
Schedule of Private Placement Facilities
The components of our private placement facility borrowings as of December
 
28, 2024, which have a weighted
average interest rate of
3.70
% are presented in the following table:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Amount of
Date of
 
Borrowing
Borrowing
 
Borrowing
Outstanding
Rate
Due Date
June 16, 2017
$
100
3.42
%
June 16, 2027
September 15, 2017
100
3.52
September 15, 2029
January 2, 2018
100
3.32
January 2, 2028
September 2, 2020
100
2.35
September 2, 2030
June 2, 2021
100
2.48
June 2, 2031
June 2, 2021
100
2.58
June 2, 2033
May 4, 2023
75
4.79
May 4, 2028
May 4, 2023
75
4.84
May 4, 2030
May 4, 2023
75
4.96
May 4, 2033
May 4, 2023
150
4.94
May 4, 2033
Total
$
975
The components of our private placement facility borrowings as of December
 
30, 2023, which have a weighted
average interest rate of
3.65
% are presented in the following table:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Amount of
Date of
 
Borrowing
Borrowing
 
Borrowing
Outstanding
Rate
Due Date
January 20, 2012
$
50
3.45
%
January 20, 2024
December 24, 2012
50
3.00
December 24, 2024
June 16, 2017
100
3.42
June 16, 2027
September 15, 2017
100
3.52
September 15, 2029
January 2, 2018
100
3.32
January 2, 2028
September 2, 2020
100
2.35
September 2, 2030
June 2, 2021
100
2.48
June 2, 2031
June 2, 2021
100
2.58
June 2, 2033
May 4, 2023
75
4.79
May 4, 2028
May 4, 2023
75
4.84
May 4, 2030
May 4, 2023
75
4.96
May 4, 2033
May 4, 2023
150
4.94
May 4, 2033
Less: Deferred debt issuance costs
(1)
Total
$
1,074
v3.25.0.1
Income Taxes (Tables)
 12 Months Ended
Dec. 28, 2024
Income Taxes [Abstract]  
Income Before Taxes and Equity in Earnings of Affiliates
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Years
 
ended
December 28,
December 30,
December 31,
2024
2023
2022
Domestic
 
$
338
$
424
$
506
Foreign
 
175
118
215
Total
 
$
513
$
542
$
721
Provision for Income Taxes Attributable to Continuing Operations
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The provisions for income taxes were as follows:
Years
 
ended
December 28,
December 30,
December 31,
2024
2023
2022
Current income tax expense:
U.S. Federal
 
$
100
$
72
$
150
State and local
 
33
28
49
Foreign
 
56
40
44
Total current
 
189
140
243
Deferred income tax expense (benefit):
U.S. Federal
 
(29)
9
(48)
State and local
 
(12)
(3)
(13)
Foreign
 
(20)
(26)
(12)
Total deferred
 
(61)
(20)
(73)
Total provision
 
$
128
$
120
$
170
Tax Effects of Temporary Differences to Deferred Income Tax Asset (Liability)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The tax effects of temporary differences that give rise to our deferred income tax asset (liability) were
 
as follows:
Years
 
Ended
December 28,
December 30,
2024
2023
Deferred income tax asset:
Net operating losses
$
91
$
90
Other carryforwards
37
34
Inventory, premium
 
coupon redemptions and accounts receivable
valuation allowances
 
37
44
Operating lease liability
76
80
Capitalization of research and development costs
27
15
Other asset
49
51
Total deferred income
 
tax asset
 
317
314
Valuation
 
allowance for deferred tax assets
(1)
(38)
(36)
Net deferred income tax asset
279
278
Deferred income tax liability
Intangibles amortization
(260)
(219)
Operating lease right-of-use asset
(67)
(65)
Property and equipment
(7)
(10)
Total deferred tax
 
liability
(334)
(294)
Net deferred income tax asset (liability)
$
(55)
$
(16)
(1)
Primarily relates to operating losses, the benefits of which are uncertain.
 
Any future reductions of such valuation allowances will be
reflected as a reduction of income tax expense.
Reconciliation of Income Tax Provision at Federal Statutory Rate to Total Income Tax Provision
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Years
 
ended
December 28,
December 30,
December 31,
2024
2023
2022
Income tax provision at federal statutory rate
 
$
108
$
114
$
151
State income tax provision, net of federal income tax effect
 
11
15
20
Foreign income tax provision
10
5
4
Pass-through noncontrolling interest
 
1
(8)
(4)
Valuation
 
allowance
 
6
(3)
(2)
Unrecognized tax benefits and audit settlements
5
9
11
Interest expense related to loans
 
(14)
(13)
(12)
Effect of cross border tax laws
12
7
6
Other
 
(11)
(6)
(4)
Total income
 
tax provision
 
$
128
$
120
$
170
Reconciliation of Unrecognized Tax Benefits Excluding the Effect of Deferred Taxes
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 28,
December 30,
December 31,
2024
2023
2022
Balance, beginning of period
 
$
98
$
82
$
71
Additions based on current year tax positions
 
5
9
14
Additions based on prior year tax positions
 
10
26
8
Reductions based on prior year tax positions
 
(14)
(2)
-
Reductions resulting from settlements with taxing authorities
 
-
(3)
(1)
Reductions resulting from lapse in statutes of limitations
 
(10)
(14)
(10)
Balance, end of period
 
$
89
$
98
$
82
v3.25.0.1
Plans of Restructuring and Integration Costs (Tables)
 12 Months Ended
Dec. 28, 2024
Plans of Restructuring and Integration Costs [Abstract]  
Schedule of Restructuring Reserve by Type of Cost
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year Ended
 
December 28, 2024
Global Distribution and
Value-Added Services
Global
Specialty
Products
Global
Technology
Corporate
Restructuring
Costs
Integration
Costs
Restructuring Costs
Total
2024 Plan
Severance and employee-related costs
$
31
$
-
$
5
$
6
$
2
$
44
Impairment and accelerated depreciation and
amortization of right-of-use lease assets and
other long-lived assets
5
-
3
4
-
12
Exit and other related costs
2
-
-
-
-
2
Loss on disposal of a business
-
-
15
-
-
15
Restructuring and integration costs-2024 Plan
$
38
$
-
$
23
$
10
$
2
$
73
2022 Plan
Severance and employee-related costs
$
18
$
-
$
5
$
1
$
-
$
24
Accelerated depreciation and amortization
10
-
-
-
(3)
7
Exit and other related costs
2
-
2
-
2
6
Restructuring and integration costs-2022 Plan
$
30
$
-
$
7
$
1
$
(1)
$
37
Total restructuring and integration costs
$
68
$
-
$
30
$
11
$
1
$
110
Year Ended
 
December 30, 2023
Global Distribution and
Value-Added Services
Global
Specialty
Products
Global
Technology
Corporate
Restructuring
Costs
Integration
Costs
Restructuring Costs
Total
2022 Plan
Severance and employee-related costs
$
29
$
-
$
5
$
5
$
7
$
46
Impairment and accelerated depreciation and
amortization of right-of-use lease assets and
other long-lived assets
13
-
-
2
-
15
Exit and other related costs
3
-
1
-
2
6
Loss on disposal of a business
-
-
13
-
-
13
Total restructuring and integration costs
$
45
$
-
$
19
$
7
$
9
$
80
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year Ended
 
December 31, 2022
Global Distribution and
Value-Added Services
Global
Specialty
Products
 
Global
Technology
Corporate
Restructuring
Costs
Integration
Costs
Restructuring Costs
Total
2022 Plan
Severance and employee-related costs
$
21
$
-
$
3
$
3
$
2
$
29
Impairment and accelerated depreciation and
amortization of right-of-use lease assets and other
long-lived assets
11
-
-
-
36
47
Exit and other related costs
2
-
-
-
1
3
Loss on disposal of a business
-
-
49
-
-
49
Integration employee-related and other costs
-
3
-
-
-
3
Total restructuring and integration costs
$
34
$
3
$
52
$
3
$
39
$
131
Schedule of Restructuring Reserve by Segment
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2022 Plan
2024 Plan
Total
Balance, December 31, 2022
 
$
24
$
-
$
24
Restructuring costs
80
-
80
Non-cash accelerated depreciation and amortization
(15)
-
(15)
Non-cash impairment on disposal of a business
(12)
-
(12)
Cash payments and other adjustments
 
(54)
-
(54)
Balance, December 30, 2023
 
23
-
23
Restructuring costs
37
73
110
Non-cash accelerated depreciation and amortization
(7)
(12)
(19)
Non-cash impairment on disposal of a business
-
(13)
(13)
Cash payments and other adjustments
 
(41)
(20)
(61)
Balance, December 28, 2024
 
$
12
$
28
$
40
v3.25.0.1
Commitments and Contingencies (Tables)
 12 Months Ended
Dec. 28, 2024
Commitments and Contingencies Disclosure [Abstract]  
Purchase Commitments
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2025
 
$
9
2026
 
5
2027
 
-
2028
 
-
2029
 
-
Thereafter
 
-
Total minimum
 
inventory purchase commitment payments
$
14
v3.25.0.1
Stock Based Compensation (Tables)
 12 Months Ended
Dec. 28, 2024
Stock Based Compensation [Abstract]  
Valuation Model
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2022
Expected dividend yield
 
0.00
%
Expected stock price volatility
 
27.80
%
Risk-free interest rate
 
3.62
%
Expected life of options (in years)
 
6.00
Summary of Stock Option Activity Under the Plans
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Stock Options
Weighted Average
Aggregate
Weighted Average
 
Remaining Contractual
Intrinsic
Shares
Exercise Price
Life (in years)
Value
Outstanding at beginning of year
 
1,078,459
$
71.46
Granted
 
-
-
Exercised
 
(100,077)
62.71
Forfeited
 
(14,891)
85.18
Outstanding at end of year
 
963,491
$
72.16
6.6
$
4
Options exercisable at end of year
 
837,341
$
70.11
Intrinsic Values
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted Average
Aggregate
Number of
Weighted Average
Remaining Contractual
Intrinsic
Options
Exercise Price
Life (in years)
Value
Expected to vest
126,150
$
85.77
7.2
$
-
Status of Non-Vested Restricted Shares/Units
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Time-Based Restricted Stock Units
Performance-Based Restricted Stock Units
Weighted Average
 
Weighted Average
 
Grant Date Fair
Intrinsic Value
Grant Date Fair
Intrinsic Value
Shares/Units
Value Per Share
Per Share
Shares/Units
Value Per Share
Per Share
Outstanding at beginning of period
 
1,655,393
$
70.34
208,742
$
78.02
Granted
 
465,861
75.84
253,896
76.88
Vested
 
(332,084)
63.09
(8,262)
66.53
Forfeited
 
(103,620)
76.95
(65,265)
79.60
Outstanding at end of period
 
1,685,550
$
72.92
$
70.42
389,111
$
75.98
$
70.42
v3.25.0.1
Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 28, 2024
Employee Benefit Plans [Abstract]  
Obligation and Funded Status
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Years
 
Ended
December 28,
December 30,
2024
2023
Obligation and funded status:
Change in benefit obligation
Projected benefit obligation, beginning of period
$
125
$
108
Service costs
4
3
Interest cost
3
3
Past service cost (credit)
(1)
1
Actuarial gain
6
6
Participant contributions
2
1
Settlements
(1)
(3)
Effect of foreign currency translation
(9)
6
Projected benefit obligation, end of period
$
129
$
125
Change in plan assets
Fair value of plan assets at beginning of period
$
86
$
73
Actual return on plan assets
3
4
Employer contributions
3
2
Plan participant contributions
2
1
Expected return on plan assets
3
1
Benefit received
1
2
Settlements
(2)
(2)
Effect of foreign currency translation
(6)
5
Fair value of plan assets at end of period
$
90
$
86
Unfunded status at end of period
$
39
$
39
Balance Sheet
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Years
 
Ended
December 28,
December 30,
2024
2023
Non-current assets
$
28
$
27
Current liabilities
(1)
(1)
Non-current liabilities
(68)
(65)
Accumulated other comprehensive loss, pre-tax
10
8
Net Periodic Pension Cost
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Years
 
Ended
December 28,
December 30,
December 31,
2024
2023
2022
Service cost
$
4
$
3
$
3
Interest cost
3
3
1
Expected return on plan assets
(3)
(3)
(1)
Employee contributions
(1)
(1)
-
Amortization of prior service credit
-
-
1
Net periodic pension cost
$
3
$
2
$
4
Assumptions
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Years
 
Ended
December 28,
December 30,
Pension Benefit Obligation
2024
2023
Weighted average
 
discount rate
2.23
%
2.71
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Years
 
Ended
December 28,
December 30,
December 31,
Net Periodic Pension Cost
2024
2023
2022
Discount rate-pension benefit
1.70
%
1.50
%
1.25
%
Expected return on plan assets
1.13
%
0.51
%
0.81
%
Rate of compensation increase
1.98
%
1.64
%
1.68
%
Pension increase rate
0.63
%
0.80
%
0.61
%
Estimated Payments
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
2025
$
7
2026
6
2027
7
2028
8
2029
6
2030 to 2034
41
Total
$
75
v3.25.0.1
Redeemable Noncontrolling Interests (Tables)
 12 Months Ended
Dec. 28, 2024
Redeemable Noncontrolling Interests [Abstract]  
Change in Fair Value of Redeemable Noncontrolling Interests
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 28,
December 30,
December 31,
2024
2023
2022
Balance, beginning of period
 
$
864
$
576
$
613
Decrease in redeemable noncontrolling interests due to acquisitions of
noncontrolling interests in subsidiaries
(273)
(19)
(31)
Increase in redeemable noncontrolling interests due to business
acquisitions
171
326
4
Net income (loss) attributable to redeemable noncontrolling interests
(1)
6
21
Distributions declared, net of capital contributions
(50)
(19)
(21)
Effect of foreign currency translation gain (loss) attributable
 
to
redeemable noncontrolling interests
(24)
5
(6)
Change in fair value of redeemable securities
 
119
(11)
(4)
Balance, end of period
 
$
806
$
864
$
576
v3.25.0.1
Comprehensive Income (Tables)
 12 Months Ended
Dec. 28, 2024
Comprehensive Income [Abstract]  
Accumulated Other Comprehensive Income and Comprehensive Income Components
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 28,
December 30,
December 31,
2024
2023
2022
Attributable to redeemable noncontrolling interests:
Foreign currency translation adjustment
 
$
(56)
$
(32)
$
(37)
Attributable to noncontrolling interests:
Foreign currency translation adjustment
 
$
(1)
$
(1)
$
(1)
Attributable to Henry Schein, Inc.:
Foreign currency translation adjustment
$
(371)
$
(188)
$
(236)
Unrealized gain (loss) from hedging activities
 
-
(13)
5
Pension adjustment loss
 
(8)
(5)
(2)
Accumulated other comprehensive loss
 
$
(379)
$
(206)
$
(233)
Total Accumulated
 
other comprehensive loss
 
$
(436)
$
(239)
$
(271)
Components of comprehensive income, net of applicable taxes
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 28,
December 30,
December 31,
2024
2023
2022
Net income
 
$
398
$
436
$
566
Foreign currency translation gain (loss)
(207)
53
(88)
Tax effect
 
-
-
-
Foreign currency translation gain (loss)
(207)
53
(88)
Unrealized gain (loss) from hedging activities
 
18
(25)
10
Tax effect
 
(5)
7
(3)
Unrealized gain (loss) from hedging activities
 
13
(18)
7
Pension adjustment gain (loss)
(5)
(3)
16
Tax effect
 
2
-
(4)
Pension adjustment gain (loss)
(3)
(3)
12
Comprehensive income
 
$
201
$
468
$
497
Total Comprehensive Income
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 28,
December 30,
December 31,
2024
2023
2022
Comprehensive income attributable to
Henry Schein, Inc.
 
$
217
$
443
$
476
Comprehensive income attributable to
noncontrolling interests
 
9
14
6
Comprehensive income (loss) attributable to
Redeemable noncontrolling interests
 
(25)
11
15
Comprehensive income
 
$
201
$
468
$
497
v3.25.0.1
Earnings Per Share (Tables)
 12 Months Ended
Dec. 28, 2024
Earnings Per Share [Abstract]  
Reconciliation of Shares used in Calculating Earnings per Share Basic and Diluted
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Years
 
Ended
December 28,
December 30,
December 31,
2024
2023
2022
Basic
 
126,788,997
130,618,990
136,064,221
Effect of dilutive securities:
Stock options and restricted stock units
 
990,231
1,129,181
1,691,449
Diluted
127,779,228
131,748,171
137,755,670
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Years
 
Ended
December 28,
December 30,
December 31,
2024
2023
2022
Stock options
406,676
424,695
342,716
Restricted stock units
9,287
15,040
19,466
Total anti-dilutive
 
securities excluded from earnings per share
computation
415,963
439,735
362,182
v3.25.0.1
Supplemental Cash Flow Information (Tables)
 12 Months Ended
Dec. 28, 2024
Supplemental Cash Flow Elements [Abstract]  
Cash Paid for Interest and Income Taxes
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Years
 
ended
December 28,
December 30,
December 31,
2024
2023
2022
Interest
 
$
132
$
84
$
47
Income taxes
 
144
218
265
v3.25.0.1
Basis of Presentation and Significant Accounting Policies (Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Dec. 25, 2021
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Fiscal year duration 364 days 364 days 371 days  
Accrued warranty costs $ 8 $ 12    
Distribution network costs 105 105 $ 103  
Costs of goods sold 8,657 8,479 8,816  
Advertising and promotional costs 43 47 47  
Outstanding checks in excess of funds on deposit classified as accounts payable 33 52    
Contract liabilities, current 81 89 86  
Contract liabilities, noncurrent $ 8 9 8  
Lease option to extend Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option.      
Short-term lease expense $ 11 10 7  
Accounts receivable balance 1,482 [1] 1,863 [1] 1,442  
Allowance for doubtful accounts 78 83 65 $ 67
Impairment charge on intangible assets $ 0 7 34  
Business combinations, measurement period 12 months      
Facility Closing [Member]        
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Impairment charge on intangible assets $ 14 12 35  
Minimum [Member]        
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Fiscal year duration 364 days      
Maximum [Member]        
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Fiscal year duration 371 days      
Global Specialty Products [Member]        
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Goodwill impairment $ 11   20  
Global Specialty Products [Member] | Facility Closing [Member]        
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Goodwill impairment 11   20  
Shipping and Handling [Member]        
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Costs of goods sold 106 98 $ 96  
Variable Interest Entity, Primary Beneficiary [Member] | Recourse [Member]        
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Liabilities of VIE 150 210    
Variable Interest Entity, Primary Beneficiary [Member] | Asset Pledged As Collateral [Member]        
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Pledged assets $ 241 $ 284    
[1]
Amounts presented include balances held by our consolidated variable interest entity (“VIE”).
 
At December 28, 2024 and
December 30, 2023, includes trade accounts receivable of $
241
 
million and $
284
 
million, respectively, and long-term debt of $
150
million and $
210
 
million, respectively.
 
See
 
for further
information.
v3.25.0.1
Basis of Presentation and Significant Accounting Policies (Allowance for Credit Losses) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Basis of Presentation and Significant Accounting Policies [Abstract]      
Balance at beginning of year $ 83 $ 65 $ 67
Provision for credit losses 14 17 6
Adjustments to existing allowances for late fees, foreign currency exchange rates, and write-offs (19) 1 (8)
Balance at end of year $ 78 $ 83 $ 65
v3.25.0.1
Basis of Presentation and Significant Accounting Policies (Contract Liabilities) (Details) - USD ($)
$ in Millions
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Basis of Presentation and Significant Accounting Policies [Abstract]      
Current contract liabilities $ 81 $ 89 $ 86
Non-current contract liabilities 8 9 8
Total contract liabilities $ 89 $ 98 $ 94
v3.25.0.1
Cyber Incident (Narrative) (Details) - Cyber Incident [Member] - USD ($)
$ in Millions
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Expenses related to cyber incident $ 9 $ 11
Insurance policy limitations 60  
Insurance retention 5  
Insurance proceeds related to cyber incident 40  
Insurance claim under review $ 20  
v3.25.0.1
Net Sales from Contracts with Customers (Disaggregation of Net Sales) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Disaggregation of Revenue [Abstract]      
Net sales $ 12,673 $ 12,339 $ 12,647
Global Distribution and Value-Added Services [Member]      
Disaggregation of Revenue [Abstract]      
Net sales 10,729 10,525 10,953
Global Specialty Products [Member]      
Disaggregation of Revenue [Abstract]      
Net sales 1,314 1,212 1,145
Global Technology [Member]      
Disaggregation of Revenue [Abstract]      
Net sales 630 602 549
Operating Segments [Member]      
Disaggregation of Revenue [Abstract]      
Net sales 12,836 12,494 12,797
Operating Segments [Member] | Global Distribution and Value-Added Services [Member]      
Disaggregation of Revenue [Abstract]      
Net sales 10,760 10,561 10,975
Operating Segments [Member] | Global Distribution and Value-Added Services [Member] | Global Dental [Member]      
Disaggregation of Revenue [Abstract]      
Net sales 6,679 6,649 6,629
Operating Segments [Member] | Global Distribution and Value-Added Services [Member] | Global Dental Merchandise [Member]      
Disaggregation of Revenue [Abstract]      
Net sales 4,727 4,787 4,763
Operating Segments [Member] | Global Distribution and Value-Added Services [Member] | Global Dental Equipment [Member]      
Disaggregation of Revenue [Abstract]      
Net sales 1,719 1,671 1,715
Operating Segments [Member] | Global Distribution and Value-Added Services [Member] | Global Value-Added Services [Member]      
Disaggregation of Revenue [Abstract]      
Net sales 233 191 151
Operating Segments [Member] | Global Distribution and Value-Added Services [Member] | Global Medical [Member]      
Disaggregation of Revenue [Abstract]      
Net sales 4,081 3,912 4,346
Operating Segments [Member] | Global Specialty Products [Member]      
Disaggregation of Revenue [Abstract]      
Net sales 1,446 1,331 1,273
Operating Segments [Member] | Global Technology [Member]      
Disaggregation of Revenue [Abstract]      
Net sales 630 602 549
Intersegment Elimination [Member]      
Disaggregation of Revenue [Abstract]      
Net sales (163) (155) (150)
Intersegment Elimination [Member] | Global Distribution and Value-Added Services [Member]      
Disaggregation of Revenue [Abstract]      
Net sales (31) (36) (22)
Intersegment Elimination [Member] | Global Specialty Products [Member]      
Disaggregation of Revenue [Abstract]      
Net sales $ (132) $ (119) $ (128)
v3.25.0.1
Segment and Geographic Data (Narrative) (Details)
 12 Months Ended
Dec. 28, 2024
Minimum [Member] | United States [Member] | Geographic Concentration Risk [Member] | Sales Revenue, Net [Member]  
Segment Reporting Information [Line Items]  
Concentration risk percentage (as a percent) 10.00%
v3.25.0.1
Segment and Geographic Data (Business Segment Information) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Segment Reporting Information [Line Items]      
Net sales $ 12,673 $ 12,339 $ 12,647
Operating income 621 615 747
Depreciation and amortization 297 248 212
Restructuring costs 110 80 131
Impairment of capitalized costs 12 27 0
Impairment charge on intangible assets 0 7 34
Global Distribution and Value-Added Services [Member]      
Segment Reporting Information [Line Items]      
Net sales 10,729 10,525 10,953
Global Specialty Products [Member]      
Segment Reporting Information [Line Items]      
Net sales 1,314 1,212 1,145
Global Technology [Member]      
Segment Reporting Information [Line Items]      
Net sales 630 602 549
Operating Segments [Member]      
Segment Reporting Information [Line Items]      
Net sales 12,836 12,494 12,797
Operating income 1,026 982 1,150
Operating Segments [Member] | Global Distribution and Value-Added Services [Member]      
Segment Reporting Information [Line Items]      
Net sales 10,760 10,561 10,975
Operating income 696 665 833
Depreciation and amortization 141 122 112
Impairment charge on intangible assets 4 19 49
Operating Segments [Member] | Global Specialty Products [Member]      
Segment Reporting Information [Line Items]      
Net sales 1,446 1,331 1,273
Operating income 178 175 192
Depreciation and amortization 110 80 61
Operating Segments [Member] | Global Technology [Member]      
Segment Reporting Information [Line Items]      
Net sales 630 602 549
Operating income 152 142 125
Depreciation and amortization 46 46 39
Impairment of capitalized costs 12    
Corporate Nonsegment [Member]      
Segment Reporting Information [Line Items]      
Operating income (77) (92) (112)
Intersegment Elimination [Member]      
Segment Reporting Information [Line Items]      
Net sales (163) (155) (150)
Operating income (328) (275) (291)
Restructuring costs (110) (80) (131)
Acquisition intangible amortization (184) (150) (126)
Cyber incident-third-party advisory expenses, net of insurance 31 (11) 0
Changes in contingent consideration (45) 0 0
Litigation settlements (6) 0 0
Impairment of capitalized costs (12) (27) 0
Impairment charge on intangible assets 0 (7) (34)
Costs associated with shareholder advisory matters (2) 0 0
Intersegment Elimination [Member] | Global Distribution and Value-Added Services [Member]      
Segment Reporting Information [Line Items]      
Net sales (31) (36) (22)
Intersegment Elimination [Member] | Global Specialty Products [Member]      
Segment Reporting Information [Line Items]      
Net sales $ (132) $ (119) $ (128)
v3.25.0.1
Segment and Geographic Data (Operations by Geographic Area) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]      
Net sales $ 12,673 $ 12,339 $ 12,647
Long-Lived Assets 5,734 5,614 4,147
United States [Member]      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Net sales 8,803 8,641 9,197
Long-Lived Assets 3,453 3,273 2,730
Locations other than the United States [Member]      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Net sales 3,870 3,698 3,450
Long-Lived Assets $ 2,281 $ 2,341 $ 1,417
v3.25.0.1
Business Acquisitions (Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
Apr. 01, 2024
Oct. 02, 2023
Jul. 05, 2023
Apr. 05, 2023
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Business Acquisition [Line Items]              
Business Acquisition, Transaction Costs         $ 6 $ 22 $ 9
Goodwill         3,887 3,875 2,893
Series of Individually Immaterial Business Acquisitions [Member]              
Business Acquisition [Line Items]              
Consideration transferred         113 284  
Recognized gain related to remeasurement to fair value of previously held equity investment         19    
Goodwill         59 171 86
Intangible Assets         64 116 96
Cash         62    
Fair value of contributed equity share in a controlled subsidiary         30    
Redeemable noncontrolling interests         18    
Estimated fair value of contingent consideration payable         2    
Deferred consideration         1    
Series of Individually Immaterial Business Acquisitions [Member] | Customer Relationships And Lists [Member]              
Business Acquisition [Line Items]              
Intangible Assets         $ 33 79 81
Weighted Average Useful Lives (in years)         11 years    
Series of Individually Immaterial Business Acquisitions [Member] | Trademarks and Trade Names [Member]              
Business Acquisition [Line Items]              
Intangible Assets         $ 24 8 9
Weighted Average Useful Lives (in years)         7 years    
Series of Individually Immaterial Business Acquisitions [Member] | Product Development [Member]              
Business Acquisition [Line Items]              
Intangible Assets         $ 5 7  
Weighted Average Useful Lives (in years)         9 years    
Series of Individually Immaterial Business Acquisitions [Member] | Noncompete Agreements [Member]              
Business Acquisition [Line Items]              
Intangible Assets         $ 2    
Weighted Average Useful Lives (in years)         5 years    
Series of Individually Immaterial Business Acquisitions [Member] | Other Intangible Assets [Member]              
Business Acquisition [Line Items]              
Intangible Assets           $ 22 $ 6
Series of Individually Immaterial Business Acquisitions [Member] | Minimum [Member]              
Business Acquisition [Line Items]              
Percentage of voting interest acquired         51.00% 51.00% 55.00%
Weighted Average Useful Lives (in years)           2 years 2 years
Series of Individually Immaterial Business Acquisitions [Member] | Maximum [Member]              
Business Acquisition [Line Items]              
Percentage of voting interest acquired         100.00% 100.00% 100.00%
Weighted Average Useful Lives (in years)           10 years 10 years
Acquisitions Completed In Prior Year [Member]              
Business Acquisition [Line Items]              
Adjustments for provisional amounts         $ 38    
Acquisitions Completed, Two Years Prior [Member]              
Business Acquisition [Line Items]              
Adjustments for provisional amounts         7    
TriMed [Member]              
Business Acquisition [Line Items]              
Percentage of voting interest acquired 60.00%            
Consideration transferred $ 315       315    
Goodwill         124    
Intangible Assets         221    
Cash         141    
Redeemable noncontrolling interests         153    
Deferred consideration         $ 21    
TriMed [Member] | Product Development [Member]              
Business Acquisition [Line Items]              
Weighted Average Useful Lives (in years)         9 years    
Shield Healthcare, Inc. [Member]              
Business Acquisition [Line Items]              
Percentage of voting interest acquired   90.00%          
Consideration transferred   $ 348     $ 348    
Goodwill         199    
Intangible Assets         166    
Cash         289    
Redeemable noncontrolling interests         37    
Deferred consideration         22    
S.I.N. Implant System [Member]              
Business Acquisition [Line Items]              
Percentage of voting interest acquired     100.00%        
Consideration transferred     $ 329   329    
Goodwill         241    
Intangible Assets         87    
Cash         329    
S.I.N. Implant System [Member] | Product Development [Member]              
Business Acquisition [Line Items]              
Weighted Average Useful Lives (in years)     8 years        
Biotech Dental [Member]              
Business Acquisition [Line Items]              
Percentage of voting interest acquired       57.00%      
Consideration transferred       $ 423 423    
Goodwill         297    
Intangible Assets         189    
Cash         216    
Fair value of contributed equity share in a controlled subsidiary         25    
Redeemable noncontrolling interests         $ 182    
Biotech Dental [Member] | Product Development [Member]              
Business Acquisition [Line Items]              
Weighted Average Useful Lives (in years)       10 years      
v3.25.0.1
Business Acquisitions (Acquisition Consideration) (Details) - USD ($)
$ in Millions
 12 Months Ended
Apr. 01, 2024
Oct. 02, 2023
Jul. 05, 2023
Apr. 05, 2023
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Business Acquisition [Line Items]              
Goodwill         $ 3,887 $ 3,875 $ 2,893
TriMed [Member]              
Business Acquisition [Line Items]              
Cash         141    
Deferred consideration         21    
Redeemable noncontrolling interests         153    
Total $ 315       315    
Current assets         35    
Intangible Assets         221    
Other noncurrent assets         10    
Current liabilities         (7)    
Deferred income taxes         (62)    
Other noncurrent liabilities         (6)    
Total         191    
Goodwill         124    
Total         315    
Series of Individually Immaterial Business Acquisitions [Member]              
Business Acquisition [Line Items]              
Cash         62    
Fair value of contributed equity share in a controlled subsidiary         30    
Deferred consideration         1    
Estimated fair value of contingent consideration payable         2    
Redeemable noncontrolling interests         18    
Total         113 284  
Intangible Assets         64 116 96
Goodwill         59 $ 171 $ 86
Shield Healthcare, Inc. [Member]              
Business Acquisition [Line Items]              
Cash         289    
Deferred consideration         22    
Redeemable noncontrolling interests         37    
Total   $ 348     348    
Current assets         41    
Intangible Assets         166    
Other noncurrent assets         16    
Current liabilities         (24)    
Deferred income taxes         (43)    
Other noncurrent liabilities         (7)    
Total         149    
Goodwill         199    
Total         348    
S.I.N. Implant System [Member]              
Business Acquisition [Line Items]              
Cash         329    
Total     $ 329   329    
Current assets         73    
Intangible Assets         87    
Other noncurrent assets         48    
Current liabilities         (33)    
Long-term debt         (22)    
Deferred income taxes         (38)    
Other noncurrent liabilities         (27)    
Total         88    
Goodwill         241    
Total         329    
Biotech Dental [Member]              
Business Acquisition [Line Items]              
Cash         216    
Fair value of contributed equity share in a controlled subsidiary         25    
Redeemable noncontrolling interests         182    
Total       $ 423 423    
Current assets         74    
Intangible Assets         189    
Other noncurrent assets         69    
Current liabilities         (60)    
Long-term debt         (73)    
Deferred income taxes         (53)    
Other noncurrent liabilities         (20)    
Total         126    
Goodwill         297    
Total         $ 423    
v3.25.0.1
Business Acquisitions (Intangible Assets) (Details) - USD ($)
$ in Millions
 12 Months Ended
Oct. 02, 2023
Jul. 05, 2023
Apr. 05, 2023
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Series of Individually Immaterial Business Acquisitions [Member] | Minimum [Member]            
Business Acquisition [Line Items]            
Weighted Average Useful Lives (in years)         2 years 2 years
Series of Individually Immaterial Business Acquisitions [Member] | Maximum [Member]            
Business Acquisition [Line Items]            
Weighted Average Useful Lives (in years)         10 years 10 years
Series of Individually Immaterial Business Acquisitions [Member] | Product Development [Member]            
Business Acquisition [Line Items]            
Weighted Average Useful Lives (in years)       9 years    
Series of Individually Immaterial Business Acquisitions [Member] | Noncompete Agreements [Member]            
Business Acquisition [Line Items]            
Weighted Average Useful Lives (in years)       5 years    
Shield Healthcare, Inc. [Member]            
Business Acquisition [Line Items]            
Assets Acquired $ 166          
Shield Healthcare, Inc. [Member] | Customer Relationships and Lists [Member]            
Business Acquisition [Line Items]            
Assets Acquired $ 156          
Weighted Average Useful Lives (in years) 12 years          
Shield Healthcare, Inc. [Member] | Trademarks And Tradenames [Member]            
Business Acquisition [Line Items]            
Assets Acquired $ 10          
Weighted Average Useful Lives (in years) 5 years          
S.I.N. Implant System [Member]            
Business Acquisition [Line Items]            
Assets Acquired   $ 87        
S.I.N. Implant System [Member] | Customer Relationships and Lists [Member]            
Business Acquisition [Line Items]            
Assets Acquired   $ 38        
Weighted Average Useful Lives (in years)   7 years        
S.I.N. Implant System [Member] | Trademarks And Tradenames [Member]            
Business Acquisition [Line Items]            
Assets Acquired   $ 13        
Weighted Average Useful Lives (in years)   10 years        
S.I.N. Implant System [Member] | Product Development [Member]            
Business Acquisition [Line Items]            
Assets Acquired   $ 36        
Weighted Average Useful Lives (in years)   8 years        
Biotech Dental [Member]            
Business Acquisition [Line Items]            
Assets Acquired     $ 189      
Biotech Dental [Member] | Customer Relationships and Lists [Member]            
Business Acquisition [Line Items]            
Assets Acquired     $ 47      
Weighted Average Useful Lives (in years)     9 years      
Biotech Dental [Member] | Trademarks And Tradenames [Member]            
Business Acquisition [Line Items]            
Assets Acquired     $ 18      
Weighted Average Useful Lives (in years)     7 years      
Biotech Dental [Member] | Product Development [Member]            
Business Acquisition [Line Items]            
Assets Acquired     $ 124      
Weighted Average Useful Lives (in years)     10 years      
TriMed [Member]            
Business Acquisition [Line Items]            
Assets Acquired       $ 221    
TriMed [Member] | Trademarks And Tradenames [Member]            
Business Acquisition [Line Items]            
Assets Acquired       $ 9    
Weighted Average Useful Lives (in years)       7 years    
TriMed [Member] | Product Development [Member]            
Business Acquisition [Line Items]            
Assets Acquired       $ 204    
Weighted Average Useful Lives (in years)       9 years    
TriMed [Member] | In Process Research And Development [Member]            
Business Acquisition [Line Items]            
Assets Acquired       $ 8    
v3.25.0.1
Inventory, Net (Narrative) (Details) - USD ($)
$ in Millions
Dec. 28, 2024
Dec. 30, 2023
Inventories, Net [Abstract]    
Inventory reserves $ 132 $ 192
v3.25.0.1
Inventory, Net (Schedule of Inventory, Net) (Details) - USD ($)
$ in Millions
Dec. 28, 2024
Dec. 30, 2023
Inventories, Net [Abstract]    
Finished goods $ 1,710 $ 1,724
Raw materials 61 54
Work-in process 39 37
Inventories, net $ 1,810 $ 1,815
v3.25.0.1
Property and Equipment, Net (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Property, Plant and Equipment [Line Items]      
Property and equipment, gross $ 1,201 $ 1,170  
Less accumulated depreciation and amortization (670) (672)  
Property and equipment related depreciation expense 83 70 $ 68
Impairment of capitalized costs 12 27 $ 0
Land [Member]      
Property, Plant and Equipment [Line Items]      
Property and equipment, gross 20 21  
Buildings and permanent improvements [Member]      
Property, Plant and Equipment [Line Items]      
Property and equipment, gross $ 164 166  
Property and equipment, average useful life (in years) 40 years    
Leasehold improvements [Member]      
Property, Plant and Equipment [Line Items]      
Property and equipment, gross $ 109 103  
Machinery and warehouse equipment [Member]      
Property, Plant and Equipment [Line Items]      
Property and equipment, gross $ 257 250  
Machinery and warehouse equipment [Member] | Minimum [Member]      
Property, Plant and Equipment [Line Items]      
Property and equipment, average useful life (in years) 5 years    
Machinery and warehouse equipment [Member] | Maximum [Member]      
Property, Plant and Equipment [Line Items]      
Property and equipment, average useful life (in years) 15 years    
Furniture, fixtures and other [Member]      
Property, Plant and Equipment [Line Items]      
Property and equipment, gross $ 128 130  
Furniture, fixtures and other [Member] | Minimum [Member]      
Property, Plant and Equipment [Line Items]      
Property and equipment, average useful life (in years) 3 years    
Furniture, fixtures and other [Member] | Maximum [Member]      
Property, Plant and Equipment [Line Items]      
Property and equipment, average useful life (in years) 10 years    
Computer equipment and software [Member]      
Property, Plant and Equipment [Line Items]      
Property and equipment, gross $ 523 $ 500  
Computer equipment and software [Member] | Minimum [Member]      
Property, Plant and Equipment [Line Items]      
Property and equipment, average useful life (in years) 3 years    
Computer equipment and software [Member] | Maximum [Member]      
Property, Plant and Equipment [Line Items]      
Property and equipment, average useful life (in years) 10 years    
v3.25.0.1
Leases (Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Lessee, Lease, Description [Line Items]      
Operating lease assets, Lease not yet commenced $ 7    
Impairment of right-of-use asset from operating lease 0 $ 3 $ 3
Current operating lease liabilities 75 80  
Non-current operating lease liabilities 259 310  
Property Owned By Employees And Shareholders [Member]      
Lessee, Lease, Description [Line Items]      
Current operating lease liabilities 6 5  
Non-current operating lease liabilities $ 20 $ 23  
Property Owned By Employees And Shareholders [Member] | Current Operating Lease Liabilities [Member] | Related Party Concentration Risk [Member]      
Lessee, Lease, Description [Line Items]      
Concentration risk percentage (as a percent) 7.60% 6.30%  
Property Owned By Employees And Shareholders [Member] | Non-Current Operating Lease Liabilities [Member] | Related Party Concentration Risk [Member]      
Lessee, Lease, Description [Line Items]      
Concentration risk percentage (as a percent) 7.80% 7.40%  
Minimum [Member]      
Lessee, Lease, Description [Line Items]      
Remaining lease term 1 year    
Operating lease not yet commenced, term of contract 2 years    
Maximum [Member]      
Lessee, Lease, Description [Line Items]      
Remaining lease term 17 years    
Lease option to extend (in years) 15 years    
Operating lease not yet commenced, term of contract 5 years    
Maximum [Member] | Property Owned By Employees And Shareholders [Member]      
Lessee, Lease, Description [Line Items]      
Remaining lease term 13 years    
v3.25.0.1
Leases (Components of Lease Expense) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Leases [Abstract]      
Operating lease cost $ 107 $ 99 $ 132
Variable lease cost 12 12 11
Short-term lease cost 11 10 7
Total operating lease cost 130 121 150
Finance lease cost:      
Finance lease cost 4 5 3
Total lease cost 134 126 153
Operating lease cost including restructuring and integration costs $ 17 $ 11 $ 42
v3.25.0.1
Leases (Supplemental Balance Sheet Information) (Details) - USD ($)
$ in Millions
Dec. 28, 2024
Dec. 30, 2023
Operating Leases    
Operating lease right-of-use assets $ 293 $ 325
Current operating lease liabilities 75 80
Non-current operating lease liabilities 259 310
Total operating lease liabilities 334 390
Finance leases    
Property and equipment, at cost 16 18
Accumulated depreciation (9) (9)
Property and equipment, net of accumulated depreciation 7 9
Current maturities of long-term debt $ 3 $ 4
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List] Long-term Debt and Capital Lease Obligations, Current Long-term Debt and Capital Lease Obligations, Current
Long-term debt $ 3 $ 4
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List] Long-Term Debt and Lease Obligation Long-Term Debt and Lease Obligation
Total finance lease liabilities $ 6 $ 8
Weighted Average Remaining Lease Term, in years, Operating Lease 5 years 10 months 24 days 6 years 7 months 6 days
Weighted Average Remaining Lease Term, in years, Finance Lease 2 years 8 months 12 days 2 years 7 months 6 days
Weighted Average Discount Rate, Percent, Operating Lease 4.20% 3.60%
Weighted Average Discount Rate, Percent, Finance Lease 4.40% 4.00%
v3.25.0.1
Leases (Supplemental Cash Flow Information) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Cash paid for amounts included in the measurement of lease liabilities    
Operating cash flows for operating leases $ 94 $ 92
Financing cash flows for finance leases 4 5
Right-of-use assets obtained in exchange for lease obligations:    
Operating leases 76 124
Finance leases $ 2 $ 4
v3.25.0.1
Leases (Maturities of Lease Liabilities) (Details) - USD ($)
$ in Millions
Dec. 28, 2024
Dec. 30, 2023
Operating Leases    
2025 $ 87  
2026 74  
2027 56  
2028 43  
2029 37  
Thereafter 81  
Total future lease payments 378  
Less imputed interest 44  
Total operating lease liabilities 334 $ 390
Finance Leases    
2025 3  
2026 2  
2027 1  
2028 1  
2029 0  
Thereafter 0  
Total future lease payments 7  
Less imputed interest 1  
Total finance lease liabilities $ 6 $ 8
v3.25.0.1
Goodwill and Other Intangibles, Net (Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Goodwill and Intangible Assets [Line Items]      
Amortization of intangible assets $ 185 $ 152 $ 126
Impairment charge on intangible assets 0 7 34
Amortization expense expected to be recorded 2024 168    
Amortization expense expected to be recorded 2025 151    
Amortization expense expected to be recorded 2026 139    
Amortization expense expected to be recorded 2027 122    
Amortization expense expected to be recorded 2028 108    
Disposal of a Business [Member]      
Goodwill and Intangible Assets [Line Items]      
Impairment charge on intangible assets $ 14 $ 12 35
Trademarks and Trade Names [Member]      
Goodwill and Intangible Assets [Line Items]      
Average useful life (in years) 8 years 8 years  
Customer Lists and Relationships [Member]      
Goodwill and Intangible Assets [Line Items]      
Average useful life (in years) 10 years 10 years  
Product Development [Member]      
Goodwill and Intangible Assets [Line Items]      
Average useful life (in years) 9 years 9 years  
Noncompete Agreements [Member]      
Goodwill and Intangible Assets [Line Items]      
Average useful life (in years) 4 years 5 years  
Other Intangible Assets [Member]      
Goodwill and Intangible Assets [Line Items]      
Average useful life (in years) 15 years 10 years  
Global Specialty Products [Member]      
Goodwill and Intangible Assets [Line Items]      
Goodwill impairment $ 11   20
Global Specialty Products [Member] | Disposal of a Business [Member]      
Goodwill and Intangible Assets [Line Items]      
Goodwill impairment 11   20
Operating Segments [Member] | Global Distribution and Value-Added Services [Member]      
Goodwill and Intangible Assets [Line Items]      
Impairment charge on intangible assets 4 $ 19 49
Operating Segments [Member] | Global Distribution and Value-Added Services [Member] | Disposal of a Business [Member]      
Goodwill and Intangible Assets [Line Items]      
Impairment charge on intangible assets     15
Operating Segments [Member] | Global Distribution and Value-Added Services [Member] | Planned Exit of Business [Member]      
Goodwill and Intangible Assets [Line Items]      
Impairment charge on intangible assets   12  
Operating Segments [Member] | Global Distribution and Value-Added Services [Member] | Trade Names [Member] | Disposal of a Business [Member]      
Goodwill and Intangible Assets [Line Items]      
Impairment charge on intangible assets 2    
Operating Segments [Member] | Global Distribution and Value-Added Services [Member] | Trade Names [Member] | Business Integration [Member]      
Goodwill and Intangible Assets [Line Items]      
Impairment charge on intangible assets 1    
Operating Segments [Member] | Global Distribution and Value-Added Services [Member] | Trade Names and Non-Compete Agreements [Member]      
Goodwill and Intangible Assets [Line Items]      
Impairment charge on intangible assets $ 1    
Operating Segments [Member] | Global Distribution and Value-Added Services [Member] | Customer Lists and Relationships [Member]      
Goodwill and Intangible Assets [Line Items]      
Impairment charge on intangible assets   $ 7 $ 34
v3.25.0.1
Goodwill and Other Intangibles, Net (Changes in the Carrying Amount of Goodwill) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Goodwill [Roll Forward]      
Beginning balance $ 3,875 $ 2,893  
Adjustments to goodwill: Acquisitions 148 945  
Adjustments to goodwill: Disposal (13)    
Adjustments to goodwill: Foreign currency translation (123) 37  
Ending balance 3,887 3,875 $ 2,893
Global Distribution and Value-Added Services [Member]      
Goodwill [Roll Forward]      
Beginning balance 2,007 1,652  
Adjustments to goodwill: Acquisitions 41 338  
Adjustments to goodwill: Disposal 0    
Adjustments to goodwill: Foreign currency translation (39) 17  
Ending balance 2,009 2,007 1,652
Global Specialty Products [Member]      
Goodwill [Roll Forward]      
Beginning balance 1,077 481  
Adjustments to goodwill: Acquisitions 107 578  
Adjustments to goodwill: Impairment (11)   (20)
Adjustments to goodwill: Disposal (11)    
Adjustments to goodwill: Foreign currency translation (80) 18  
Ending balance 1,093 1,077 481
Global Technology [Member]      
Goodwill [Roll Forward]      
Beginning balance 791 760  
Adjustments to goodwill: Acquisitions 0 29  
Adjustments to goodwill: Disposal (2)    
Adjustments to goodwill: Foreign currency translation (4) 2  
Ending balance $ 785 $ 791 $ 760
v3.25.0.1
Goodwill and Other Intangibles, Net (Other Intangible Assets - Finite-Lived) (Details) - USD ($)
$ in Millions
Dec. 28, 2024
Dec. 30, 2023
Finite-Lived Intangible Assets, Net [Abstract]    
Cost $ 1,555 $ 1,417
Accumulated amortization (532) (501)
Net 1,023 916
Customer Relationships and Lists [Member]    
Finite-Lived Intangible Assets, Net [Abstract]    
Cost 915 984
Accumulated amortization (356) (346)
Net $ 559 $ 638
Weighted Average Remaining Life (in years) 10 years 10 years
Trademarks and Trade Names [Member]    
Finite-Lived Intangible Assets, Net [Abstract]    
Cost $ 188 $ 168
Accumulated amortization (89) (69)
Net $ 99 $ 99
Weighted Average Remaining Life (in years) 8 years 8 years
Product Development [Member]    
Finite-Lived Intangible Assets, Net [Abstract]    
Cost $ 403 $ 205
Accumulated amortization (71) (62)
Net $ 332 $ 143
Weighted Average Remaining Life (in years) 9 years 9 years
Noncompete Agreements [Member]    
Finite-Lived Intangible Assets, Net [Abstract]    
Cost $ 21 $ 21
Accumulated amortization (6) (6)
Net $ 15 $ 15
Weighted Average Remaining Life (in years) 4 years 5 years
Other intangibles assets [Member]    
Finite-Lived Intangible Assets, Net [Abstract]    
Cost $ 28 $ 39
Accumulated amortization (10) (18)
Net $ 18 $ 21
Weighted Average Remaining Life (in years) 15 years 10 years
v3.25.0.1
Investments and Other (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Investments in unconsolidated affiliates $ 170 $ 180  
Non-current deferred foreign, state and local income taxes 47 38  
Notes receivable 63 44  
Capitalized costs for software and cloud based applications for external use 90 95  
Security deposits 4 4  
Acquisition related indemnification assets 39 46  
Non-current pension assets 9 9  
Non-current inventory 27 0  
Other long-term assets 52 55  
Total 501 471  
Amortization of other long-term assets 29 26 $ 18
Impairment of capitalized costs 12 $ 27 $ 0
Operating Segments [Member] | Global Technology [Member]      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Impairment of capitalized costs $ 12    
Financing Receivable [Member]      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Latest maturity date of varying installments of long-term notes receivable Nov. 21, 2028    
Financing Receivable [Member] | Minimum [Member]      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Long-term notes receivable interest rate (as a percent) 3.00%    
Financing Receivable [Member] | Maximum [Member]      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Long-term notes receivable interest rate (as a percent) 11.00%    
v3.25.0.1
Fair Value Measurements (Details) - USD ($)
$ in Millions
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Dec. 25, 2021
Attributable To Redeemable Noncontrolling Interests [Abstract]        
Redeemable noncontrolling interests $ 806 $ 864 $ 576 $ 613
Estimate of Fair Value Measurement [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Fair value of debt 2,536 2,351    
Fair value, measurements, recurring [Member] | Fair Value Measurement [Domain]        
Assets [Abstract]        
Total return swaps   4    
Total assets 17 6    
Liabilities [Abstract]        
Total return swaps 3      
Contingent consideration 30      
Total liabilities 42 20    
Fair value, measurements, recurring [Member] | Fair Value Measurement [Domain] | Designated As Hedging Instrument [Member]        
Assets [Abstract]        
Derivative contracts - assets 10 1    
Liabilities [Abstract]        
Derivative contracts - liabilities 5 18    
Fair value, measurements, recurring [Member] | Fair Value Measurement [Domain] | Not Designated as Hedging Instrument [Member]        
Assets [Abstract]        
Derivative contracts - assets 7 1    
Liabilities [Abstract]        
Derivative contracts - liabilities 4 2    
Fair value, measurements, recurring [Member]        
Attributable To Redeemable Noncontrolling Interests [Abstract]        
Redeemable noncontrolling interests 806 864    
Fair value, measurements, recurring [Member] | Level 1 [Member] | Fair Value Measurement [Domain]        
Assets [Abstract]        
Total return swaps   0    
Total assets 0 0    
Liabilities [Abstract]        
Total return swaps 0      
Contingent consideration 0      
Total liabilities 0 0    
Fair value, measurements, recurring [Member] | Level 1 [Member] | Fair Value Measurement [Domain] | Designated As Hedging Instrument [Member]        
Assets [Abstract]        
Derivative contracts - assets 0 0    
Liabilities [Abstract]        
Derivative contracts - liabilities 0 0    
Fair value, measurements, recurring [Member] | Level 1 [Member] | Fair Value Measurement [Domain] | Not Designated as Hedging Instrument [Member]        
Assets [Abstract]        
Derivative contracts - assets 0 0    
Liabilities [Abstract]        
Derivative contracts - liabilities 0 0    
Fair value, measurements, recurring [Member] | Level 1 [Member]        
Attributable To Redeemable Noncontrolling Interests [Abstract]        
Redeemable noncontrolling interests 0 0    
Fair value, measurements, recurring [Member] | Level 2 [Member] | Fair Value Measurement [Domain]        
Assets [Abstract]        
Total return swaps   4    
Total assets 17 6    
Liabilities [Abstract]        
Total return swaps 3      
Contingent consideration 0      
Total liabilities 12 20    
Fair value, measurements, recurring [Member] | Level 2 [Member] | Fair Value Measurement [Domain] | Designated As Hedging Instrument [Member]        
Assets [Abstract]        
Derivative contracts - assets 10 1    
Liabilities [Abstract]        
Derivative contracts - liabilities 5 18    
Fair value, measurements, recurring [Member] | Level 2 [Member] | Fair Value Measurement [Domain] | Not Designated as Hedging Instrument [Member]        
Assets [Abstract]        
Derivative contracts - assets 7 1    
Liabilities [Abstract]        
Derivative contracts - liabilities 4 2    
Fair value, measurements, recurring [Member] | Level 2 [Member]        
Attributable To Redeemable Noncontrolling Interests [Abstract]        
Redeemable noncontrolling interests 0 0    
Fair value, measurements, recurring [Member] | Level 3 [Member] | Fair Value Measurement [Domain]        
Assets [Abstract]        
Total return swaps   0    
Total assets 0 0    
Liabilities [Abstract]        
Total return swaps 0      
Contingent consideration 30      
Total liabilities 30 0    
Fair value, measurements, recurring [Member] | Level 3 [Member] | Fair Value Measurement [Domain] | Designated As Hedging Instrument [Member]        
Assets [Abstract]        
Derivative contracts - assets 0 0    
Liabilities [Abstract]        
Derivative contracts - liabilities 0 0    
Fair value, measurements, recurring [Member] | Level 3 [Member] | Fair Value Measurement [Domain] | Not Designated as Hedging Instrument [Member]        
Assets [Abstract]        
Derivative contracts - assets 0 0    
Liabilities [Abstract]        
Derivative contracts - liabilities 0 0    
Fair value, measurements, recurring [Member] | Level 3 [Member]        
Attributable To Redeemable Noncontrolling Interests [Abstract]        
Redeemable noncontrolling interests $ 806 $ 864    
v3.25.0.1
Concentrations of Risk (Details)
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Top customer concentration risk [Member] | Sales revenue, net [Member] | Any single customer [Member] | Maximum [Member]      
Concentration Risk [Line Items]      
Concentration risk percentage (as a percent) 2.00% 2.00% 2.00%
Supplier concentration risk [Member] | Purchases [Member] | Top 10 Distribution and Value-Added Services Suppliers [Member]      
Concentration Risk [Line Items]      
Concentration risk percentage (as a percent) 25.00% 24.00%  
Supplier concentration risk [Member] | Purchases [Member] | Single Largest Supplier [Member]      
Concentration Risk [Line Items]      
Concentration risk percentage (as a percent) 4.00% 4.00%  
v3.25.0.1
Derivatives and Hedging Activities (Narrative) (Details)
€ in Millions
 12 Months Ended
Dec. 28, 2024
USD ($)
Dec. 30, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 28, 2024
EUR (€)
Dec. 28, 2024
USD ($)
Mar. 20, 2020
USD ($)
Derivative [Line Items]            
Notional amount   $ 1,291,000,000     $ 1,239,000,000  
Term Credit Agreement [Member]            
Derivative [Line Items]            
Debt face amount         $ 750,000,000  
Debt term 3 years          
Interest Rate Swaps [Member] | Term Credit Agreement [Member]            
Derivative [Line Items]            
Derivative fixed interest rate   5.79%   6.04% 6.04%  
Other Comprehensive Income [Member] | Interest Rate Swaps [Member] | Term Credit Agreement [Member]            
Derivative [Line Items]            
Gain (loss) on derivative $ (3,000,000) $ (10,000,000)        
SERP and DCP [Member] | Interest Rate Swaps [Member] | Term Credit Agreement [Member]            
Derivative [Line Items]            
Notional amount         $ 713,000,000  
Forward Contracts [Member] | Other Comprehensive Income [Member]            
Derivative [Line Items]            
Gain (loss) on derivative 10,000,000 (32,000,000) $ 9,000,000      
Total Return Swap [Member] | SERP and DCP [Member]            
Derivative [Line Items]            
Notional amount         $ 106,000,000 $ 43,000,000
Gain (loss) on derivative $ 8,000,000 $ 10,000,000 $ (17,000,000)      
Inception date Mar. 20, 2020          
Total Return Swap [Member] | Secured Overnight Financing Rate Sofr Overnight Index Swap Rate [Member] | SERP and DCP [Member]            
Derivative [Line Items]            
Derivative fixed interest rate       4.53% 4.53%  
Derivative basis spread on variable rate       0.61% 0.61%  
Derivative variable interest rate       5.14% 5.14%  
Net Investment Hedging [Member] | Foreign Exchange Forward [Member]            
Derivative [Line Items]            
Maturity date Nov. 03, 2028 Nov. 03, 2028        
Notional amount   $ 352,000,000     $ 336,000,000  
Net Investment Hedging [Member] | Forward Contracts I [Member]            
Derivative [Line Items]            
Maturity date Nov. 16, 2023          
Notional amount | €       € 200    
Net Investment Hedging [Member] | Forward Contracts II [Member]            
Derivative [Line Items]            
Maturity date Nov. 03, 2028          
Notional amount | €       € 300    
v3.25.0.1
Derivatives and Hedging Activities (Summary of Terms and Fair Value of Derivative Instruments) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Derivatives Fair Value [Line Items]    
Notional Amount $ 1,239 $ 1,291
Fair Value 3 (13)
Cash Flow Hedging [Member] | Foreign Currency Forward [Member]    
Derivatives Fair Value [Line Items]    
Notional Amount 84 102
Fair Value $ 0 $ (1)
Maturity Date Oct. 30, 2025 Nov. 21, 2024
Cash Flow Hedging [Member] | Interest Rate Swaps [Member]    
Derivatives Fair Value [Line Items]    
Notional Amount $ 713 $ 741
Fair Value $ (3) $ (10)
Maturity Date Jul. 13, 2026 Jul. 13, 2026
Net Investment Hedging [Member] | Foreign Currency Forward [Member]    
Derivatives Fair Value [Line Items]    
Notional Amount $ 336 $ 352
Fair Value $ 9 $ (6)
Maturity Date Nov. 03, 2028 Nov. 03, 2028
Undesignated Hedging [Member] | Total Return Swap [Member]    
Derivatives Fair Value [Line Items]    
Notional Amount $ 106 $ 96
Fair Value $ (3) $ 4
Maturity Date Dec. 30, 2024 Jan. 03, 2024
v3.25.0.1
Derivatives and Hedging Activities (Summary of Effect of Cash Flow and Net Investment Hedges on Statements of Income) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Derivative Instruments And Hedging Activities Disclosures [Line Items]      
Unrealized gain (loss) from hedging activities $ 13 $ (18) $ 7
Cash Flow Hedging [Member] | Foreign Currency Forward [Member]      
Derivative Instruments And Hedging Activities Disclosures [Line Items]      
Unrealized gain (loss) from hedging activities 0 (1) 0
Cash Flow Hedging [Member] | Interest Rate Swaps [Member]      
Derivative Instruments And Hedging Activities Disclosures [Line Items]      
Unrealized gain (loss) from hedging activities 6 (7) 0
Net Investment Hedging [Member] | Foreign Currency Forward [Member]      
Derivative Instruments And Hedging Activities Disclosures [Line Items]      
Unrealized gain (loss) from hedging activities $ 7 $ (10) $ 7
v3.25.0.1
Debt (Revolving Credit Agreement - Narrative) (Details) - Revolving Credit Facility [Member] - USD ($)
 12 Months Ended
Aug. 20, 2021
Dec. 28, 2024
Dec. 30, 2023
Line of Credit Facility [Line Items]      
Line of credit initiation date Aug. 20, 2021 Jul. 11, 2023  
Credit facility borrowing capacity   $ 1,000,000,000.0  
Credit facility expiration date   Jul. 11, 2028  
Line of credit interest rate   4.45% 5.36%
Debt instrument, basis spread on variable rate   1.18% 1.00%
Debt Instrument Variable Interest Rate Type Extensible Enumeration   Secured Overnight Financing Rate Sofr [Member] Secured Overnight Financing Rate Sofr [Member]
Line of credit combined interest rate   5.63% 6.36%
Borrowings   $ 0 $ 200,000,000
Average outstanding balance under line of credit   50,000,000  
Outstanding letters of credit provided to third parties   $ 11,000,000 $ 10,000,000
v3.25.0.1
Debt (Other Short-Term Bank Credit Lines - Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Line of Credit Facility [Line Items]    
Bank credit lines $ 650 $ 264
Other Short-Term Credit Lines [Member]    
Line of Credit Facility [Line Items]    
Credit facility borrowing capacity 790 368
Bank credit lines 650 $ 64
Average outstanding balance under line of credit $ 492  
Weighted average interest rate on borrowings under credit lines at period end 5.35% 6.02%
v3.25.0.1
Debt (Private Placement Facilities - Narrative) (Details) - Private Placement Facilities [Member]
 12 Months Ended
Dec. 28, 2024
USD ($)
number
Dec. 30, 2023
Debt Instrument [Line Items]    
Number of companies included in private placement facilities | number 4  
Debt instrument maximum borrowing capacity | $ $ 1,500,000,000  
Debt instrument, maturity date Oct. 20, 2026  
Average term of issuances under private placement facilities 12 years  
Weighted average interest rate at period end 3.70% 3.65%
Minimum [Member]    
Debt Instrument [Line Items]    
Term of issuances under private placement facilities 5 years  
Maximum [Member]    
Debt Instrument [Line Items]    
Term of issuances under private placement facilities 15 years  
v3.25.0.1
Debt (Term Loan - Narrative) (Details) - USD ($)
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Term Credit Agreement [Member]    
Line of Credit Facility [Line Items]    
Debt term 3 years  
Debt face amount $ 750,000,000  
Debt instrument, maturity date Jul. 11, 2026  
Long-term debt $ 712,000,000 $ 741,000,000
Debt instrument, interest rate, stated percentage 4.45% 5.36%
Debt instrument, basis spread on variable rate 1.60% 1.35%
Debt Instrument Variable Interest Rate Type Extensible Enumeration Secured Overnight Financing Rate Sofr Overnight Index Swap Rate [Member] Secured Overnight Financing Rate Sofr Overnight Index Swap Rate [Member]
Debt instrument, interest rate at period end 6.05% 6.71%
Term Credit Agreement [Member] | Interest Rate Swaps [Member]    
Line of Credit Facility [Line Items]    
Derivative fixed interest rate 6.04% 5.79%
September 2024 through June 2026 [Member]    
Line of Credit Facility [Line Items]    
Quarterly payments $ 9,000,000  
September 2023 through June 2024 [Member]    
Line of Credit Facility [Line Items]    
Quarterly payments $ 5,000,000  
v3.25.0.1
Debt (U.S. Trade Accounts Receivable Securitization - Narrative) (Details) - U.S. Trade Accounts Receivable Securitization [Member] - USD ($)
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Debt Instrument [Line Items]    
Pricing commitment period 3 years  
Debt instrument, maturity date Dec. 06, 2027 Dec. 15, 2025
Debt instrument maximum borrowing capacity $ 450,000,000  
Long-term debt $ 150,000,000 $ 210,000,000
Debt instrument, interest rate, stated percentage 4.73% 5.67%
Debt instrument, basis spread on variable rate 0.75% 0.75%
Debt Instrument Variable Interest Rate Type Extensible Enumeration Average Asset Backed Commercial Paper Rate [Member] Average Asset Backed Commercial Paper Rate [Member]
Debt instrument, variable rate basis at period end 5.48% 6.42%
Minimum [Member]    
Debt Instrument [Line Items]    
Commitment fee basis points depending upon program utilization 0.0030  
Maximum [Member]    
Debt Instrument [Line Items]    
Commitment fee basis points depending upon program utilization 0.0035  
v3.25.0.1
Debt (Bank Credit Lines) (Details) - USD ($)
$ in Millions
Dec. 28, 2024
Dec. 30, 2023
Line of Credit Facility [Line Items]    
Bank credit lines $ 650 $ 264
Revolving Credit Facility [Member]    
Line of Credit Facility [Line Items]    
Bank credit lines 0 200
Other Short-Term Credit Lines [Member]    
Line of Credit Facility [Line Items]    
Bank credit lines $ 650 $ 64
v3.25.0.1
Debt (Schedule of Long-term Debt) (Details) - USD ($)
$ in Millions
Dec. 28, 2024
Dec. 30, 2023
Debt Instrument [Line Items]    
Finance lease obligations $ 6 $ 8
Total Long-term debt 1,886 2,087
Less current maturities (56) (150)
Total long-term debt [1] 1,830 1,937
Term Credit Agreement [Member]    
Debt Instrument [Line Items]    
Long-term debt $ 712 $ 741
Borrowing Rate 4.45% 5.36%
Private Placement Facilities [Member]    
Debt Instrument [Line Items]    
Long-term debt $ 975 $ 1,074
U.S. Trade Accounts Receivable Securitization [Member]    
Debt Instrument [Line Items]    
Long-term debt $ 150 $ 210
Borrowing Rate 4.73% 5.67%
Various Collateralized and Uncollateralized Long-Term Loans Payable with Interest, in Varying Installments [Member]    
Debt Instrument [Line Items]    
Long-term debt $ 43 $ 54
Various Collateralized and Uncollateralized Long-Term Loans Payable with Interest, in Varying Installments [Member] | Minimum [Member]    
Debt Instrument [Line Items]    
Borrowing Rate 0.00% 0.00%
Various Collateralized and Uncollateralized Long-Term Loans Payable with Interest, in Varying Installments [Member] | Maximum [Member]    
Debt Instrument [Line Items]    
Borrowing Rate 9.42% 9.42%
[1]
Amounts presented include balances held by our consolidated variable interest entity (“VIE”).
 
At December 28, 2024 and
December 30, 2023, includes trade accounts receivable of $
241
 
million and $
284
 
million, respectively, and long-term debt of $
150
million and $
210
 
million, respectively.
 
See
 
for further
information.
v3.25.0.1
Debt (Schedule of Long-Term Debt Maturities) (Details) - USD ($)
$ in Millions
Dec. 28, 2024
Dec. 30, 2023
Maturities of Long-term Debt [Abstract]    
2025 $ 56  
2026 690  
2027 257  
2028 180  
2029 102  
Thereafter 601  
Total Long-term debt $ 1,886 $ 2,087
v3.25.0.1
Debt (Schedule of Private Placement Facilities) (Details) - Private Placement Facilities [Member] - USD ($)
$ in Millions
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Debt Instrument [Line Items]    
Less: Deferred debt issuance costs   $ (1)
Total Long-term debt $ 975 $ 1,074
Due Date Oct. 20, 2026  
Private Placement Facilities January 20, 2012 [Member]    
Debt Instrument [Line Items]    
Date of borrowing   Jan. 20, 2012
Amount of borrowing outstanding   $ 50
Borrowing Rate   3.45%
Due Date   Jan. 20, 2024
Private Placement Facilities December 24, 2012 [Member]    
Debt Instrument [Line Items]    
Date of borrowing   Dec. 24, 2012
Amount of borrowing outstanding   $ 50
Borrowing Rate   3.00%
Due Date   Dec. 24, 2024
Private Placement Facilities June 16, 2017 [Member]    
Debt Instrument [Line Items]    
Date of borrowing Jun. 16, 2017 Jun. 16, 2017
Amount of borrowing outstanding $ 100 $ 100
Borrowing Rate 3.42% 3.42%
Due Date Jun. 16, 2027 Jun. 16, 2027
Private Placement Facilities September 15, 2017 [Member]    
Debt Instrument [Line Items]    
Date of borrowing Sep. 15, 2017 Sep. 15, 2017
Amount of borrowing outstanding $ 100 $ 100
Borrowing Rate 3.52% 3.52%
Due Date Sep. 15, 2029 Sep. 15, 2029
Private Placement Facilities January 2, 2018 [Member]    
Debt Instrument [Line Items]    
Date of borrowing Jan. 02, 2018 Jan. 02, 2018
Amount of borrowing outstanding $ 100 $ 100
Borrowing Rate 3.32% 3.32%
Due Date Jan. 02, 2028 Jan. 02, 2028
Private Placement Facilities September 2, 2020 [Member]    
Debt Instrument [Line Items]    
Date of borrowing Sep. 02, 2020 Sep. 02, 2020
Amount of borrowing outstanding $ 100 $ 100
Borrowing Rate 2.35% 2.35%
Due Date Sep. 02, 2030 Sep. 02, 2030
Private Placement Facilities June 2, 2021 [Member]    
Debt Instrument [Line Items]    
Date of borrowing Jun. 02, 2021 Jun. 02, 2021
Amount of borrowing outstanding $ 100 $ 100
Borrowing Rate 2.48% 2.48%
Due Date Jun. 02, 2031 Jun. 02, 2031
Private Placement Facilities June 2, 2021 [Member]    
Debt Instrument [Line Items]    
Date of borrowing Jun. 02, 2021 Jun. 02, 2021
Amount of borrowing outstanding $ 100 $ 100
Borrowing Rate 2.58% 2.58%
Due Date Jun. 02, 2033 Jun. 02, 2033
Private Placement Facilities May 4, 2023 [Member]    
Debt Instrument [Line Items]    
Date of borrowing May 04, 2023 May 04, 2023
Amount of borrowing outstanding $ 75 $ 75
Borrowing Rate 4.79% 4.79%
Due Date May 04, 2028 May 04, 2028
Private Placement Facilities May 4, 2023 [Member]    
Debt Instrument [Line Items]    
Date of borrowing May 04, 2023 May 04, 2023
Amount of borrowing outstanding $ 75 $ 75
Borrowing Rate 4.84% 4.84%
Due Date May 04, 2030 May 04, 2030
Private Placement Facilities May 4, 2023 [Member]    
Debt Instrument [Line Items]    
Date of borrowing May 04, 2023 May 04, 2023
Amount of borrowing outstanding $ 75 $ 75
Borrowing Rate 4.96% 4.96%
Due Date May 04, 2033 May 04, 2033
Private Placement Facilities May 4, 2023 [Member]    
Debt Instrument [Line Items]    
Date of borrowing May 04, 2023 May 04, 2023
Amount of borrowing outstanding $ 150 $ 150
Borrowing Rate 4.94% 4.94%
Due Date May 04, 2033 May 04, 2033
v3.25.0.1
Income Taxes (Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Dec. 25, 2021
Income Tax Examination [Line Items]        
Effective tax rate (as a percent) 24.90% 22.10% 23.50%  
Unrecognized tax benefits $ 89 $ 98 $ 82 $ 71
Amount of tax interest expense included as a component of the provision for taxes 2 4 $ 0  
Accrued Taxes [Member]        
Income Tax Examination [Line Items]        
Tax Cuts And Jobs Act Of 2017 Transition Tax For Accumulated Foreign Earnings Liability Current 24 11    
Other Liabilities [Member]        
Income Tax Examination [Line Items]        
Unrecognized tax benefits including accrued interest 108 115    
Unrecognized tax benefits that would affect the effective tax rate if recognized 100 107    
Interest accrued 18 16    
Tax Cuts And Jobs Act Of 2017 Transition Tax For Accumulated Foreign Earnings Liability Current   $ 24    
Domestic Tax Authority [Member]        
Income Tax Examination [Line Items]        
Operating loss carryforwards 57      
Net operating loss carryforwards not subject to expiration 57      
State and Local Jurisdiction [Member]        
Income Tax Examination [Line Items]        
Operating loss carryforwards 45      
Net operating loss carryforwards not subject to expiration 16      
Foreign Tax Authority [Member]        
Income Tax Examination [Line Items]        
Operating loss carryforwards 333      
Net operating loss carryforwards not subject to expiration $ 311      
v3.25.0.1
Income Taxes (Income Before Taxes and Equity in Earnings of Affiliates) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Income before equity method investments, income taxes and loss on sale of equity investment [Abstract]      
Domestic $ 338 $ 424 $ 506
Foreign 175 118 215
Income before taxes, equity in earnings of affiliates and noncontrolling interests $ 513 $ 542 $ 721
v3.25.0.1
Income Taxes (Provision for Income Taxes Attributable to Continuing Operations) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Current income tax expense:      
U.S. Federal $ 100 $ 72 $ 150
State and local 33 28 49
Foreign 56 40 44
Total current 189 140 243
Deferred income tax expense (benefit):      
U.S. Federal (29) 9 (48)
State and local (12) (3) (13)
Foreign (20) (26) (12)
Total deferred (61) (20) (73)
Total income tax provision $ 128 $ 120 $ 170
v3.25.0.1
Income Taxes (Tax Effects of Temporary Differences to Deferred Income Tax Asset (Liability)) (Details) - USD ($)
$ in Millions
Dec. 28, 2024
Dec. 30, 2023
Deferred income tax asset:    
Net operating losses $ 91 $ 90
Other carryforwards 37 34
Inventory, premium coupon redemptions and accounts receivable valuation allowances 37 44
Operating lease liability 76 80
Capitalization of research and Development costs 27 15
Other asset 49 51
Total deferred income tax asset 317 314
Valuation allowance for deferred tax assets (38) (36)
Net deferred income tax asset 279 278
Deferred income tax liability    
Intangibles amortization (260) (219)
Operating lease right-of-use asset (67) (65)
Property and equipment (7) (10)
Total deferred tax liability (334) (294)
Net deferred income tax asset (liability) $ (55) $ (16)
v3.25.0.1
Income Taxes (Reconciliation of Income Tax Provision at Federal Statutory Rate to Total Income Tax Provision) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Effective Income Tax Rate Reconciliation, Amount [Abstract]      
Income tax provision at federal statutory rate $ 108 $ 114 $ 151
State income tax provision, net of federal income tax effect 11 15 20
Foreign income tax provision 10 5 4
Pass through noncontrolling interest 1 (8) (4)
Valuation allowance 6 (3) (2)
Unrecognized tax benefits and audit settlements 5 9 11
Interest expense related to loans (14) (13) (12)
Effect of cross border tax laws 12 7 6
Other (11) (6) (4)
Total income tax provision $ 128 $ 120 $ 170
v3.25.0.1
Income Taxes (Reconciliation of Unrecognized Tax Benefits Excluding the Effect of Deferred Taxes) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]      
Balance, beginning of period $ 98 $ 82 $ 71
Additions based on current year tax positions 5 9 14
Additions based on prior year tax positions 10 26 8
Reductions based on prior year tax positions (14) (2) 0
Reductions resulting from settlements with taxing authorities 0 (3) (1)
Reductions resulting from lapse in statutes of limitations (10) (14) (10)
Balance, end of period $ 89 $ 98 $ 82
v3.25.0.1
Plans of Restructuring and Integration Costs (Narrative) (Details)
$ in Millions
 12 Months Ended
Dec. 28, 2024
USD ($)
Dec. 30, 2023
USD ($)
Dec. 31, 2022
USD ($)
number
Restructuring Cost and Reserve [Line Items]      
Restructuring charges $ 110 $ 80  
Restructuring Incurred Cost Statement Of Income Or Comprehensive Income Extensible Enumeration Selling, General and Administrative Expense Selling, General and Administrative Expense  
Impairment charge on intangible assets $ 0 $ 7 $ 34
Disposal of a Business [Member]      
Restructuring Cost and Reserve [Line Items]      
Impairment charge on intangible assets 14 12 35
2024 Plan [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring charges 73    
2024 Plan [Member] | Disposal of a Business [Member]      
Restructuring Cost and Reserve [Line Items]      
Impairment charge on intangible assets 13    
2022 Plan [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring charges $ 37 80 $ 128
2022 Plan [Member] | Building Vacated [Member]      
Restructuring Cost and Reserve [Line Items]      
Number of buildings vacated | number     1
Accelerated amortization of right of use lease asset expense     $ 34
2022 Plan [Member] | Disposal of a Business [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring charges     49
Impairment charge on intangible assets   $ 12  
2022 Plan [Member] | Midway Dental Supply [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring charges     9
Integration costs     $ 3
v3.25.0.1
Plans of Restructuring and Integration Costs (Schedule of Restructuring Reserve by Type of Cost) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs $ 110 $ 80  
Total $ 110 $ 80 $ 131
Restructuring Incurred Cost Statement Of Income Or Comprehensive Income Extensible Enumeration Selling, General and Administrative Expense Selling, General and Administrative Expense  
2024 Plan [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs $ 73    
Total 73    
2024 Plan [Member] | Severance and Employee Related Costs [Member]      
Restructuring Cost and Reserve [Line Items]      
Total 44    
2024 Plan [Member] | Accelerated Depreciation and Amortization [Member]      
Restructuring Cost and Reserve [Line Items]      
Total 12    
2024 Plan [Member] | Exit and Other Related Costs [Member]      
Restructuring Cost and Reserve [Line Items]      
Total 2    
2024 Plan [Member] | Loss on Disposal of a Business [Member]      
Restructuring Cost and Reserve [Line Items]      
Total 15    
2022 Plan [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 37 $ 80 128
Total 37 80 131
2022 Plan [Member] | Severance and Employee Related Costs [Member]      
Restructuring Cost and Reserve [Line Items]      
Total 24 46 29
2022 Plan [Member] | Impairment and Accelerated Depreciation and Amortization of Right-of-Use Lease Assets and Other Long Long-Lived Assets [Member]      
Restructuring Cost and Reserve [Line Items]      
Total   15 47
2022 Plan [Member] | Accelerated Depreciation and Amortization [Member]      
Restructuring Cost and Reserve [Line Items]      
Total 7    
2022 Plan [Member] | Exit and Other Related Costs [Member]      
Restructuring Cost and Reserve [Line Items]      
Total 6 6 3
2022 Plan [Member] | Loss on Disposal of a Business [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs     49
Total   13 49
2022 Plan [Member] | Integration Employee Related and Other Costs [Member]      
Restructuring Cost and Reserve [Line Items]      
Total     3
Operating Segments [Member] | Global Distribution and Value-Added Services [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 68    
Integration Costs 0    
Operating Segments [Member] | Global Distribution and Value-Added Services [Member] | 2024 Plan [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 38    
Integration Costs 0    
Operating Segments [Member] | Global Distribution and Value-Added Services [Member] | 2024 Plan [Member] | Severance and Employee Related Costs [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 31    
Integration Costs 0    
Operating Segments [Member] | Global Distribution and Value-Added Services [Member] | 2024 Plan [Member] | Accelerated Depreciation and Amortization [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 5    
Integration Costs 0    
Operating Segments [Member] | Global Distribution and Value-Added Services [Member] | 2024 Plan [Member] | Exit and Other Related Costs [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 2    
Integration Costs 0    
Operating Segments [Member] | Global Distribution and Value-Added Services [Member] | 2024 Plan [Member] | Loss on Disposal of a Business [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 0    
Integration Costs 0    
Operating Segments [Member] | Global Distribution and Value-Added Services [Member] | 2022 Plan [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 30 45 34
Integration Costs   0 3
Operating Segments [Member] | Global Distribution and Value-Added Services [Member] | 2022 Plan [Member] | Severance and Employee Related Costs [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 18 29 21
Integration Costs 0 0 0
Operating Segments [Member] | Global Distribution and Value-Added Services [Member] | 2022 Plan [Member] | Impairment and Accelerated Depreciation and Amortization of Right-of-Use Lease Assets and Other Long Long-Lived Assets [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs   13 11
Integration Costs   0 0
Operating Segments [Member] | Global Distribution and Value-Added Services [Member] | 2022 Plan [Member] | Accelerated Depreciation and Amortization [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 10    
Integration Costs 0    
Operating Segments [Member] | Global Distribution and Value-Added Services [Member] | 2022 Plan [Member] | Exit and Other Related Costs [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 2 3 2
Integration Costs 0 0 0
Operating Segments [Member] | Global Distribution and Value-Added Services [Member] | 2022 Plan [Member] | Loss on Disposal of a Business [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs   0 0
Integration Costs 0 0 0
Operating Segments [Member] | Global Distribution and Value-Added Services [Member] | 2022 Plan [Member] | Integration Employee Related and Other Costs [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs     0
Integration Costs     3
Operating Segments [Member] | Global Specialty Products [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 30    
Operating Segments [Member] | Global Specialty Products [Member] | 2024 Plan [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 23    
Operating Segments [Member] | Global Specialty Products [Member] | 2024 Plan [Member] | Severance and Employee Related Costs [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 5    
Operating Segments [Member] | Global Specialty Products [Member] | 2024 Plan [Member] | Accelerated Depreciation and Amortization [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 3    
Operating Segments [Member] | Global Specialty Products [Member] | 2024 Plan [Member] | Exit and Other Related Costs [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 0    
Operating Segments [Member] | Global Specialty Products [Member] | 2024 Plan [Member] | Loss on Disposal of a Business [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 15    
Operating Segments [Member] | Global Specialty Products [Member] | 2022 Plan [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 7 19 52
Operating Segments [Member] | Global Specialty Products [Member] | 2022 Plan [Member] | Severance and Employee Related Costs [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 5 5 3
Operating Segments [Member] | Global Specialty Products [Member] | 2022 Plan [Member] | Impairment and Accelerated Depreciation and Amortization of Right-of-Use Lease Assets and Other Long Long-Lived Assets [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs   0 0
Operating Segments [Member] | Global Specialty Products [Member] | 2022 Plan [Member] | Accelerated Depreciation and Amortization [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 0    
Operating Segments [Member] | Global Specialty Products [Member] | 2022 Plan [Member] | Exit and Other Related Costs [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 2 1 0
Operating Segments [Member] | Global Specialty Products [Member] | 2022 Plan [Member] | Loss on Disposal of a Business [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs   13 49
Operating Segments [Member] | Global Specialty Products [Member] | 2022 Plan [Member] | Integration Employee Related and Other Costs [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs     0
Operating Segments [Member] | Global Technology [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 11    
Operating Segments [Member] | Global Technology [Member] | 2024 Plan [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 10    
Operating Segments [Member] | Global Technology [Member] | 2024 Plan [Member] | Severance and Employee Related Costs [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 6    
Operating Segments [Member] | Global Technology [Member] | 2024 Plan [Member] | Accelerated Depreciation and Amortization [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 4    
Operating Segments [Member] | Global Technology [Member] | 2024 Plan [Member] | Exit and Other Related Costs [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 0    
Operating Segments [Member] | Global Technology [Member] | 2024 Plan [Member] | Loss on Disposal of a Business [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 0    
Operating Segments [Member] | Global Technology [Member] | 2022 Plan [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 1 7 3
Operating Segments [Member] | Global Technology [Member] | 2022 Plan [Member] | Severance and Employee Related Costs [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 1 5 3
Operating Segments [Member] | Global Technology [Member] | 2022 Plan [Member] | Impairment and Accelerated Depreciation and Amortization of Right-of-Use Lease Assets and Other Long Long-Lived Assets [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs   2 0
Operating Segments [Member] | Global Technology [Member] | 2022 Plan [Member] | Accelerated Depreciation and Amortization [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 0    
Operating Segments [Member] | Global Technology [Member] | 2022 Plan [Member] | Exit and Other Related Costs [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 0 0 0
Operating Segments [Member] | Global Technology [Member] | 2022 Plan [Member] | Loss on Disposal of a Business [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs   0 0
Operating Segments [Member] | Global Technology [Member] | 2022 Plan [Member] | Integration Employee Related and Other Costs [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs     0
Corporate Nonsegment [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 1    
Corporate Nonsegment [Member] | 2024 Plan [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 2    
Corporate Nonsegment [Member] | 2024 Plan [Member] | Severance and Employee Related Costs [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 2    
Corporate Nonsegment [Member] | 2024 Plan [Member] | Accelerated Depreciation and Amortization [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 0    
Corporate Nonsegment [Member] | 2024 Plan [Member] | Exit and Other Related Costs [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 0    
Corporate Nonsegment [Member] | 2024 Plan [Member] | Loss on Disposal of a Business [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 0    
Corporate Nonsegment [Member] | 2022 Plan [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs (1) 9 39
Corporate Nonsegment [Member] | 2022 Plan [Member] | Severance and Employee Related Costs [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 0 7 2
Corporate Nonsegment [Member] | 2022 Plan [Member] | Impairment and Accelerated Depreciation and Amortization of Right-of-Use Lease Assets and Other Long Long-Lived Assets [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs   0 36
Corporate Nonsegment [Member] | 2022 Plan [Member] | Accelerated Depreciation and Amortization [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs (3)    
Corporate Nonsegment [Member] | 2022 Plan [Member] | Exit and Other Related Costs [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs $ 2 2 1
Corporate Nonsegment [Member] | 2022 Plan [Member] | Loss on Disposal of a Business [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs   $ 0 0
Corporate Nonsegment [Member] | 2022 Plan [Member] | Integration Employee Related and Other Costs [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs     $ 0
v3.25.0.1
Plans of Restructuring and Integration Costs (Schedule of Restructuring Reserve by Segment) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Restructuring Reserve [Roll Forward]      
Balance, beginning $ 23 $ 24  
Restructuring charges 110 80  
Non-cash asset impairment and accelerated depreciation and amortization of right-of-use lease assets and other long-lived assets (19) (15)  
Non-cash impairment on disposal of a business (13) (12)  
Cash payments and other adjustments (61) (54)  
Balance, ending $ 40 $ 23 $ 24
Restructuring Incurred Cost Statement Of Income Or Comprehensive Income Extensible Enumeration Selling, General and Administrative Expense Selling, General and Administrative Expense  
2022 Plan [Member]      
Restructuring Reserve [Roll Forward]      
Balance, beginning $ 23 $ 24  
Restructuring charges 37 80 128
Non-cash asset impairment and accelerated depreciation and amortization of right-of-use lease assets and other long-lived assets (7) (15)  
Non-cash impairment on disposal of a business 0 (12)  
Cash payments and other adjustments (41) (54)  
Balance, ending 12 23 $ 24
2024 Plan [Member]      
Restructuring Reserve [Roll Forward]      
Balance, beginning 0    
Restructuring charges 73    
Non-cash asset impairment and accelerated depreciation and amortization of right-of-use lease assets and other long-lived assets (12)    
Non-cash impairment on disposal of a business (13)    
Cash payments and other adjustments (20)    
Balance, ending $ 28 $ 0  
v3.25.0.1
Commitments and Contingencies (Other Commitments - Narrative) (Details)
 12 Months Ended
Dec. 28, 2024
USD ($)
Employment, consulting and non-compete agreements [Member]  
Other Commitment, Fiscal Year Maturity [Abstract]  
2025 $ 20,000,000
2026 4,000,000
2027 0
2028 0
2029 0
Thereafter 0
Life-time consulting agreement [Member]  
Other Commitment, Fiscal Year Maturity [Abstract]  
Current compensation paid under lifetime consulting agreement $ 400,000
v3.25.0.1
Commitments and Contingencies (Litigation - Narrative) (Details)
$ in Millions
 12 Months Ended
Jan. 29, 2025
number
Dec. 28, 2024
USD ($)
number
Dec. 30, 2023
USD ($)
Dec. 31, 2022
USD ($)
Feb. 20, 2025
Loss Contingency, Information about Litigation Matters [Abstract]          
Net sales | $   $ 12,673.0 $ 12,339.0 $ 12,647.0  
Maximum [Member]          
Loss Contingency, Information about Litigation Matters [Abstract]          
Number of pending claims   175      
DCH Health Care Authority Et Al [Member]          
Loss Contingency, Information about Litigation Matters [Abstract]          
Number of plaintiffs | number   34      
Other Hospitals Located Throughout Florida [Member]          
Loss Contingency, Information about Litigation Matters [Abstract]          
Number of plaintiffs   25      
Actions consolidated in the MultiDistrict Litigation [Member] | Maximum [Member]          
Loss Contingency, Information about Litigation Matters [Abstract]          
Maximum sales of opioids in North America during the year, percentage   0.40%      
Actions consolidated in the MultiDistrict Litigation [Member] | Continuing Operations [Member]          
Loss Contingency, Information about Litigation Matters [Abstract]          
Net sales | $   $ 12,700.0      
Cruz Bermudez Action [Member]          
Loss Contingency, Information about Litigation Matters [Abstract]          
Amount awarded to other party | $   $ 2.9      
Cruz Bermudez Action [Member] | Subsequent Event [Member]          
Loss Contingency, Information about Litigation Matters [Abstract]          
Settlement agreement effective date, number of days after final approval assuming no appeals filed         35 days
Napoli Shkolnik PLLC [Member] | Subsequent Event [Member]          
Loss Contingency, Information about Litigation Matters [Abstract]          
Number of cases settled | number 44        
Case In Which Company Is Not Yet Named Defendant [Member] | Subsequent Event [Member]          
Loss Contingency, Information about Litigation Matters [Abstract]          
Number of cases settled | number 1        
v3.25.0.1
Commitments and Contingencies (Purchase Commitments) (Details)
$ in Millions
Dec. 28, 2024
USD ($)
Unrecorded Unconditional Purchase Obligation [Abstract]  
2025 $ 9
2026 5
2027 0
2028 0
2029 0
Thereafter 0
Total minimum inventory purchase commitment payments $ 14
v3.25.0.1
Stock Based Compensation (Narrative) (Details) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Pre-tax share-based compensation expense $ 39 $ 39 $ 54
Total unrecognized compensation cost related to non-vested awards $ 66    
Weighted-average period of recognition for unrecognized compensation costs on nonvested awards (in years) 2 years 7 months 6 days    
Expected life of options (years)     6 years
Options granted in period 0    
Restricted Stock/Units [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Weighted-average grant date fair value of stock-based awards granted before forfeitures (in dollars per share) $ 75.12 $ 76.43 $ 85.51
Time-Based Restricted Stock/Units [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Number of years for full vesting (in years) 4 years    
Weighted-average grant date fair value of stock-based awards granted before forfeitures (in dollars per share) $ 75.84    
Intrinsic value (in dollars per share) $ 70.42    
Fair value of awards that vested $ 21 $ 27 $ 31
Performance-Based Restricted Stock/Units [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Number of years for full vesting (in years) 3 years    
Weighted-average grant date fair value of stock-based awards granted before forfeitures (in dollars per share) $ 76.88    
Intrinsic value (in dollars per share) $ 70.42    
Fair value of awards that vested $ 1 $ 38 $ 23
Stock Options [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Number of years for full vesting (in years) 3 years    
Percentage of stock options vest per year 33.33%    
Expiration period (in years) 10 years    
2020 Stock Incentive Plan [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Shares authorized to be granted (in shares) 75,742,657    
Shares available to be granted (in shares) 9,973,475    
Non-Employee Director Stock Incentive Plan [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Shares authorized to be granted (in shares) 2,075,000    
Shares available to be granted (in shares) 361,724    
Non-Employee Director Stock Incentive Plan [Member] | Time-Based Restricted Stock/Units [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Number of years for full vesting (in years) 12 months    
v3.25.0.1
Stock Based Compensation (Valuation Model) (Details)
 12 Months Ended
Dec. 31, 2022
Stock Based Compensation [Abstract]  
Expected dividend yield 0.00%
Expected stock price volatility 27.80%
Risk-free interest rate 3.62%
Expected life of options (years) 6 years
v3.25.0.1
Stock Based Compensation (Summary of Stock Option Activity Under the Plans) (Details) - Stock Options [Member]
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 28, 2024
USD ($)
$ / shares
shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]  
Outstanding at beginning of period (in shares) | shares 1,078,459
Granted (in shares) | shares 0
Exercised (in shares) | shares (100,077)
Forfeited (in shares) | shares (14,891)
Outstanding at end of period (in shares) | shares 963,491
Ending balance, options exercisable (in shares) | shares 837,341
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]  
Outstanding at beginning of period (in dollars per share) | $ / shares $ 71.46
Granted (in dollars per share) | $ / shares 0
Exercised (in dollars per share) | $ / shares 62.71
Forfeited (in dollars per share) | $ / shares 85.18
Outstanding at end of period (in dollars per share) | $ / shares 72.16
Ending balance, options exercisable (in dollars per share) | $ / shares $ 70.11
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]  
Outstanding at end of period, Weighted Average Remaining Contractual Life in Years 6 years 7 months 6 days
Outstanding at end of period, Aggregate Intrinsic Value | $ $ 4
v3.25.0.1
Stock-Based Compensation (Intrinsic Values) (Details) - Employee And Directors Stock Options [Member]
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 28, 2024
USD ($)
$ / shares
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Number of Options | shares 126,150
Weighted Average Exercise Price (in dollars per share) | $ / shares $ 85.77
Weighted Average Remaining Contractual Life (in years) 7 years 2 months 12 days
Aggregate Intrinsic Value | $ $ 0
v3.25.0.1
Stock Based Compensation (Status of Non-Vested Restricted Shares/Units) (Details)
 12 Months Ended
Dec. 28, 2024
$ / shares
shares
Time-Based Restricted Stock/Units [Member]  
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]  
Beginning balance outstanding (in shares) | shares 1,655,393
Granted (in shares) | shares 465,861
Vested (in shares) | shares (332,084)
Forfeited (in shares) | shares (103,620)
Ending balance outstanding (in shares) | shares 1,685,550
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]  
Beginning balance outstanding (in dollars per share) $ 70.34
Granted (in dollars per share) 75.84
Vested (in dollars per share) 63.09
Forfeited (in dollars per share) 76.95
Ending balance outstanding (in dollars per share) 72.92
Intrinsic value (in dollars per share) $ 70.42
Performance-Based Restricted Stock/Units [Member]  
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]  
Beginning balance outstanding (in shares) | shares 208,742
Granted (in shares) | shares 253,896
Vested (in shares) | shares (8,262)
Forfeited (in shares) | shares (65,265)
Ending balance outstanding (in shares) | shares 389,111
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]  
Beginning balance outstanding (in dollars per share) $ 78.02
Granted (in dollars per share) 76.88
Vested (in dollars per share) 66.53
Forfeited (in dollars per share) 79.60
Ending balance outstanding (in dollars per share) 75.98
Intrinsic value (in dollars per share) $ 70.42
v3.25.0.1
Employee Benefit Plans (Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Defined Contribution Plan Disclosure [Line Items]      
Accumulated benefit obligations $ 125 $ 121  
Funded Plan [Member]      
Defined Contribution Plan Disclosure [Line Items]      
Status of plan 8 7  
Management [Member] | Deferred compensation bonus and commission plan [Member]      
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]      
Deferred compensation plan fair market value amount charged (credited) to operations $ 12 12 $ (11)
Qualified 401K plan [Member]      
Defined Contribution Plan Disclosure [Line Items]      
Maximum matching contributions as a percentage of participants' contributions (as a percent) 100.00%    
Maximum participants' contributions as a percentage of their base compensation (as a percent) 7.00%    
Allowable maximum percentage of contributions allocated to Henry Schein Stock Fund (as a percent) 20.00%    
Amounts charged (credited) to operations $ 48 50 45
Qualified 401K plan [Member] | Selling General And Administrative Expenses [Member]      
Defined Contribution Plan Disclosure [Line Items]      
Amounts charged (credited) to operations 40 42 37
Qualified 401K plan [Member] | Cost of Goods Sold [Member]      
Defined Contribution Plan Disclosure [Line Items]      
Amounts charged (credited) to operations 8 8 8
Supplemental executive retirement plan [Member]      
Defined Contribution Plan Disclosure [Line Items]      
Amounts charged (credited) to operations $ 2 $ 3 $ (1)
v3.25.0.1
Employee Benefit Plans (Obligation and Funded Status) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Funded Plan [Member]      
Defined Benefit Plan Change In Fair Value Of Plan Assets [Roll Forward]      
Unfunded status at end of period $ 8 $ 7  
Pension Plans Defined Benefit [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Balance 125 108  
Service costs 4 3 $ 3
Interest cost 3 3 1
Past service cost (1) 1  
Actuarial gain (loss) 6 6  
Participant contributions 2 1  
Settlements (1) (3)  
Effect of foreign currency translation (9) 6  
Balance 129 125 108
Defined Benefit Plan Change In Fair Value Of Plan Assets [Roll Forward]      
Fair value of plan assets at beginning of period 86 73  
Actual return on plan assets 3 4  
Employer contributions 3 2  
Plan participant contributions 2 1  
Expected return on plan assets 3 1  
Benefit received 1 2  
Settlements (2) (2)  
Effect of foreign currency translation (6) 5  
Fair value of plan assets at end of period 90 86 $ 73
Pension Plans Defined Benefit [Member] | Unfunded Plan [Member]      
Defined Benefit Plan Change In Fair Value Of Plan Assets [Roll Forward]      
Unfunded status at end of period $ 39 $ 39  
v3.25.0.1
Employee Benefit Plans (Balance Sheet) (Details) - Pension Plans Defined Benefit [Member] - USD ($)
$ in Millions
Dec. 28, 2024
Dec. 30, 2023
Defined Benefit Plan Disclosure [Line Items]    
Non-current assets $ 28 $ 27
Current liabilities (1) (1)
Non-current liabilities (68) (65)
Accumulated other comprehensive loss, pre-tax $ 10 $ 8
v3.25.0.1
Employee Benefit Plans (Net Periodic Pension Cost) (Details) - Pension Plans Defined Benefit [Member] - USD ($)
$ in Millions
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]      
Service costs $ 4 $ 3 $ 3
Interest cost 3 3 1
Expected return on plan assets (3) (3) (1)
Employee contributions (1) (1) 0
Defined Benefit Plan Amortization Of Prior Service Cost Credit 0 0 1
Total $ 3 $ 2 $ 4
v3.25.0.1
Employee Benefit Plans (Assumptions) (Details) - Pension Plans Defined Benefit [Member]
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Discount Rate 2.23% 2.71%  
Defined Benefit Plan Weighted Average Assumptions Used In Calculating Net Periodic Benefit Cost [Abstract]      
Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Discount Rate 1.70% 1.50% 1.25%
Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Expected Long Term Return On Assets 1.13% 0.51% 0.81%
Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Rate Of Compensation Increase 1.98% 1.64% 1.68%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Pension Rate 0.63% 0.80% 0.61%
v3.25.0.1
Employee Benefit Plans (Estimated Payments) (Details) - Pension Plans Defined Benefit [Member]
$ in Millions
Dec. 28, 2024
USD ($)
Defined Benefit Plan Disclosure [Line Items]  
2025 $ 7
2026 6
2027 7
2028 8
2029 6
2030 to 2034 41
Total $ 75
v3.25.0.1
Redeemable Noncontrolling Interests (Change in Fair Value of Redeemable Noncontrolling Interests) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Components of the change in the redeemable noncontrolling interests [Abstract]      
Balance, beginning of period $ 864 $ 576 $ 613
Decrease in redeemable noncontrolling interests due to acquisitions of noncontrolling interests in subsidiaries (273) (19) (31)
Increase in redeemable noncontrolling interests due to business acquisitions 171 326 4
Net income attributable to redeemable noncontrolling interests (1) 6 21
Distributions declared, net of capital contributions (50) (19) (21)
Effect of foreign currency translation gain (loss) attributable to redeemable noncontrolling interests (24) 5 (6)
Change in fair value of redeemable securities 119 (11) (4)
Balance, end of period $ 806 $ 864 $ 576
v3.25.0.1
Comprehensive Income (Accumulated Other Comprehensive Income and Comprehensive Income Components) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Attributable to redeemable noncontrolling interests:      
Foreign currency translation adjustment $ (56) $ (32) $ (37)
Attributable to noncontrolling interests:      
Foreign currency translation adjustment (1) (1) (1)
Attributable to Henry Schein, Inc.:      
Foreign currency translation adjustment (371) (188) (236)
Unrealized gain (loss) from hedging activities 0 (13) 5
Pension adjustment loss (8) (5) (2)
Accumulated other comprehensive loss (379) (206) (233)
Total Accumulated other comprehensive loss (436) (239) (271)
Components of comprehensive income [Abstract]      
Net Income 398 436 566
Foreign currency translation gain (loss) (207) 53 (88)
Tax effect 0 0 0
Foreign currency translation gain (loss) (207) 53 (88)
Unrealized gain (loss) from hedging activities 18 (25) 10
Tax effect (5) 7 (3)
Unrealized gain (loss) from hedging activities 13 (18) 7
Pension adjustment gain (loss) (5) (3) 16
Tax effect 2 0 (4)
Pension adjustment gain (loss) (3) (3) 12
Comprehensive income $ 201 $ 468 $ 497
v3.25.0.1
Comprehensive Income (Total Comprehensive Income) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Comprehensive Income Net Of Applicable Taxes [Abstract]      
Comprehensive income attributable to Henry Schein, Inc. $ 217 $ 443 $ 476
Comprehensive income attributable to noncontrolling interests 9 14 6
Comprehensive income attributable to Redeemable noncontrolling interests (25) 11 15
Comprehensive income $ 201 $ 468 $ 497
v3.25.0.1
Earnings Per Share (Reconciliation of Shares used in Calculating Earnings per Share Basic and Diluted) (Details) - shares
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Weighted-average common shares outstanding:      
Basic (in shares) 126,788,997 130,618,990 136,064,221
Effect of dilutive securities:      
Stock options, restricted stock and restricted stock units (in shares) 990,231 1,129,181 1,691,449
Diluted (in shares) 127,779,228 131,748,171 137,755,670
v3.25.0.1
Earnings Per Share (Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share) (Details) - shares
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]      
Anti-dilutive securities excluded from earnings per share 415,963 439,735 362,182
Stock Options [Member]      
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]      
Anti-dilutive securities excluded from earnings per share 406,676 424,695 342,716
Restricted Stock/Units [Member]      
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]      
Anti-dilutive securities excluded from earnings per share 9,287 15,040 19,466
v3.25.0.1
Supplemental Cash Flow Information (Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Supplemental Cash Flow Elements [Abstract]      
Unrealized gain (loss) from hedging activities $ 18 $ (25) $ 10
Debt assumed as part of acquisitions   $ 143  
v3.25.0.1
Supplemental Cash Flow Information (Cash Paid for Interest and Income Taxes) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Supplemental Cash Flow Elements [Abstract]      
Interest $ 132 $ 84 $ 47
Income taxes $ 144 $ 218 $ 265
v3.25.0.1
Related Party Transactions (Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Internet Brands Inc [Member]      
Related Party Transaction [Line Items]      
Other Liabilities $ 1 $ 1  
Internet Brands Inc [Member] | Royalty Agreements [Member]      
Related Party Transaction [Line Items]      
Operating Costs And Expenses $ 31 31 $ 31
Internet Brands Inc [Member] | Scenario, Plan [Member] | Royalty Agreements [Member]      
Related Party Transaction [Line Items]      
Royalty agreement term (in years) 10 years    
Amount of transaction $ 31    
Equity Method Investee [Member]      
Related Party Transaction [Line Items]      
Purchases from related party 11 10 9
Other Liabilities 6 5  
Revenues 52 47 $ 46
Other Receivables $ 31 $ 32  
v3.25.0.1
Subsequent Event (Narrative) (Details) - Subsequent Event [Member] - KKR [Member]
$ / shares in Units, $ in Millions
Jan. 29, 2025
USD ($)
number
$ / shares
Subsequent Event [Line Items]  
Amount of transaction | $ $ 250
Minority interest ownership percentage 12.00%
Number of independent directors to join Board of Directors upon investment | number 2
Issue new shares of common stock | $ / shares $ 76.10
Maximum [Member]  
Subsequent Event [Line Items]  
Minority interest ownership percentage 14.90%