HENRY SCHEIN INC, 10-Q filed on 11/5/2024
Quarterly Report
v3.24.3
Cover Page - shares
 9 Months Ended
Sep. 28, 2024
Oct. 28, 2024
Cover [Abstract]    
Entity Central Index Key 0001000228  
Amendment Flag false  
Document Fiscal Year Focus 2024  
Document Fiscal Period Focus Q3  
Current Fiscal Year End Date --12-28  
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Sep. 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 $.01 per share  
Trading Symbol HSIC  
Security Exchange Name NASDAQ  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Emerging Growth Company false  
Entity Small Business false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   124,681,294
v3.24.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Sep. 28, 2024
Dec. 30, 2023
Current assets:    
Cash and cash equivalents $ 126 $ 171
Accounts receivable, net of allowance for credit losses of $86 and $83 [1] 1,660 1,863
Inventories, net 1,754 1,815
Prepaid expenses and other 607 639
Total current assets 4,147 4,488
Property and equipment, net 540 498
Operating lease right-of-use assets 304 325
Goodwill 3,986 3,875
Other intangibles, net 1,100 916
Investments and other 528 471
Total assets 10,605 10,573
Current liabilities:    
Accounts payable 1,026 1,020
Bank credit lines 638 264
Current maturities of long-term debt 109 150
Operating lease liabilities 77 80
Accrued expenses:    
Payroll and related 289 332
Taxes 159 137
Other 631 700
Total current liabilities 2,929 2,683
Long-term debt [1] 1,906 1,937
Deferred income taxes 123 54
Operating lease liabilities 262 310
Other liabilities 414 436
Total liabilities 5,634 5,420
Redeemable noncontrolling interests 832 864
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,125,154,194 outstanding on September 28, 2024 and 129,247,765 outstanding on December 30, 2023 1 1
Additional paid-in capital 0 0
Retained earnings 3,766 3,860
Accumulated other comprehensive loss (264) (206)
Total Henry Schein, Inc. stockholders' equity 3,503 3,655
Noncontrolling interests 636 634
Total stockholders' equity 4,139 4,289
Total liabilities, redeemable noncontrolling interests and stockholders' equity $ 10,605 $ 10,573
[1]
Amounts presented include balances held by our consolidated variable interest entity (“VIE”).
 
At September 28, 2024 and
December 30, 2023, includes trade accounts receivable of $
341
 
million and $
284
 
million, respectively, and long-term debt of $
210
million and $
210
 
million, respectively.
v3.24.3
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Millions
Sep. 28, 2024
Dec. 30, 2023
Current assets:    
Accounts receivable, allowances for credit losses (in dollars) $ 86 $ 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) 125,154,194 129,247,765
Variable Interest Entity, Primary Beneficiary [Member] | Recourse [Member]    
Stockholders' equity:    
Liabilities of VIE $ 210 $ 210
Asset Pledged as Collateral [Member] | Variable Interest Entity, Primary Beneficiary [Member]    
Stockholders' equity:    
Pledged assets $ 341 $ 284
v3.24.3
CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 28, 2024
Sep. 30, 2023
Sep. 28, 2024
Sep. 30, 2023
CONDENSED CONSOLIDATED STATEMENTS OF INCOME [Abstract]        
Net sales $ 3,174 $ 3,162 $ 9,482 $ 9,322
Cost of sales 2,181 2,167 6,459 6,386
Gross profit 993 995 3,023 2,936
Operating expenses:        
Selling, general and administrative 724 725 2,296 2,149
Depreciation and amortization 64 59 188 152
Restructuring costs 48 11 73 59
Operating income 157 200 466 576
Other income (expense):        
Interest income 7 6 18 12
Interest expense (34) (25) (96) (58)
Other, net (2) (2) (1) (2)
Income before taxes, equity in earnings of affiliates and noncontrolling interests 128 179 387 528
Income taxes (32) (39) (97) (119)
Equity in earnings of affiliates, net of tax 3 3 12 10
Net income 99 143 302 419
Less: Net income attributable to noncontrolling interests 0 (6) (6) (21)
Net income attributable to Henry Schein, Inc. $ 99 $ 137 $ 296 $ 398
Earnings per share attributable to Henry Schein, Inc.:        
Basic (in dollars per share) $ 0.79 $ 1.06 $ 2.32 $ 3.04
Diluted (in dollars per share) $ 0.78 $ 1.05 $ 2.30 $ 3.02
Weighted-average common shares outstanding:        
Basic (in shares) 126,124,715 130,388,353 127,550,045 130,888,717
Diluted (in shares) 127,054,934 131,442,135 128,498,494 132,149,172
v3.24.3
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 28, 2024
Sep. 30, 2023
Sep. 28, 2024
Sep. 30, 2023
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]        
Net income $ 99 $ 143 $ 302 $ 419
Other comprehensive income (loss), net of tax:        
Foreign currency translation gain (loss) 58 (45) (58) (17)
Unrealized gain (loss) from hedging activities (18) 6 (3) 2
Other comprehensive income (loss), net of tax 40 (39) (61) (15)
Comprehensive income 139 104 241 404
Comprehensive income attributable to noncontrolling interests:        
Net income 0 (6) (6) (21)
Foreign currency translation loss (gain) (12) 2 3 1
Comprehensive income attributable to noncontrolling interests (12) (4) (3) (20)
Comprehensive income attributable to Henry Schein, Inc. $ 127 $ 100 $ 238 $ 384
v3.24.3
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)
$ in Millions
Total
Common Stock $.01 Par Value [Member]
Additional Paid-in Capital [Member]
Retained Earnings [Member]
Accumulated Other Comprehensive Income (Loss) [Member]
Noncontrolling Interests [Member]
Beginning Balance at Dec. 31, 2022 $ 4,095 $ 1 $ 0 $ 3,678 $ (233) $ 649
Beginning Balance, shares (in shares) at Dec. 31, 2022   131,792,817        
Net income (excluding amounts attributable to Redeemable noncontrolling interests) 408     398   10
Foreign currency translation gain (loss) (excluding loss amounts attributable to Redeemable noncontrolling interests) (16)       (16)  
Unrealized gain (loss) from hedging activities, net of tax 2       2  
Distributions to noncontrolling shareholders (28)         (28)
Change in fair value of redeemable securities 14   14      
Noncontrolling interests and adjustments related to business acquisitions (2)   0     (2)
Repurchases and retirement of common stock - Value (201)   (26) (175)    
Repurchases and retirement of common stock - Shares   (2,521,695)        
Stock-based compensation expense - Value 38   38      
Stock-based compensation expense - Shares   1,060,883        
Stock issued upon exercise of stock options - Value 1   1      
Stock issued upon exercise of stock options - Shares   19,744        
Shares withheld for payroll taxes - Value (32)   (32)      
Shares withheld for payroll taxes - Shares   (415,048)        
Settlement of stock-based compensation awards - Value 1   1      
Settlement of stock-based compensation awards - Shares   (818)        
Transfer of charges in excess of capital 0   4 (4)    
Ending Balance at Sep. 30, 2023 4,280 $ 1 0 3,897 (247) 629
Ending Balance, shares (in shares) at Sep. 30, 2023   129,935,883        
Beginning Balance at Jul. 01, 2023 4,186 $ 1 0 3,769 (210) 626
Beginning Balance, shares (in shares) at Jul. 01, 2023   130,576,806        
Net income (excluding amounts attributable to Redeemable noncontrolling interests) 141     137   4
Foreign currency translation gain (loss) (excluding loss amounts attributable to Redeemable noncontrolling interests) (43)       (43)  
Unrealized gain (loss) from hedging activities, net of tax 6       6  
Distributions to noncontrolling shareholders (1)         (1)
Change in fair value of redeemable securities 28   28      
Noncontrolling interests and adjustments related to business acquisitions (1)   (1)     0
Repurchases and retirement of common stock - Value (50)   (6) (44)    
Repurchases and retirement of common stock - Shares   (659,681)        
Stock-based compensation expense - Value 14   14      
Stock-based compensation expense - Shares   23,985        
Stock issued upon exercise of stock options - Shares   3,884        
Shares withheld for payroll taxes - Value 0   0      
Shares withheld for payroll taxes - Shares   (9,183)        
Settlement of stock-based compensation awards - Value 0   0      
Settlement of stock-based compensation awards - Shares   72        
Transfer of charges in excess of capital 0   (35) 35    
Ending Balance at Sep. 30, 2023 4,280 $ 1 0 3,897 (247) 629
Ending Balance, shares (in shares) at Sep. 30, 2023   129,935,883        
Beginning Balance at Dec. 30, 2023 $ 4,289 $ 1 0 3,860 (206) 634
Beginning Balance, shares (in shares) at Dec. 30, 2023 129,247,765 129,247,765        
Net income (excluding amounts attributable to Redeemable noncontrolling interests) $ 302     296   6
Foreign currency translation gain (loss) (excluding loss amounts attributable to Redeemable noncontrolling interests) (54)       (55) 1
Unrealized gain (loss) from hedging activities, net of tax (3)       (3)  
Distributions to noncontrolling shareholders (5)         (5)
Purchase of noncontrolling interests (8)   (7)     (1)
Change in fair value of redeemable securities (87)   (87)      
Noncontrolling interests and adjustments related to business acquisitions (7)   (8)     1
Repurchases and retirement of common stock - Value (313)   (42) (271)    
Repurchases and retirement of common stock - Shares   (4,368,510)        
Stock-based compensation expense - Value 30   30      
Stock-based compensation expense - Shares   337,753        
Stock issued upon exercise of stock options - Value $ 3   3      
Stock issued upon exercise of stock options - Shares 48,842 47,688        
Shares withheld for payroll taxes - Value $ (9)   (9)      
Shares withheld for payroll taxes - Shares   (110,566)        
Settlement of stock-based compensation awards - Value 1   1      
Settlement of stock-based compensation awards - Shares   64        
Transfer of charges in excess of capital     119 (119)    
Ending Balance at Sep. 28, 2024 $ 4,139 $ 1 0 3,766 (264) 636
Ending Balance, shares (in shares) at Sep. 28, 2024 125,154,194 125,154,194        
Beginning Balance at Jun. 29, 2024 $ 4,148 $ 1 0 3,803 (292) 636
Beginning Balance, shares (in shares) at Jun. 29, 2024   127,080,545        
Net income (excluding amounts attributable to Redeemable noncontrolling interests) 98     99   (1)
Foreign currency translation gain (loss) (excluding loss amounts attributable to Redeemable noncontrolling interests) 47       46 1
Unrealized gain (loss) from hedging activities, net of tax (18)       (18)  
Purchase of noncontrolling interests (2)   (1)     (1)
Change in fair value of redeemable securities (6)   (6)      
Noncontrolling interests and adjustments related to business acquisitions (3)   (4)     1
Repurchases and retirement of common stock - Value (137)   (18) (119)    
Repurchases and retirement of common stock - Shares   (1,954,076)        
Stock-based compensation expense - Value 10   10      
Stock-based compensation expense - Shares   7,655        
Stock issued upon exercise of stock options - Value 1   1      
Stock issued upon exercise of stock options - Shares   22,448        
Shares withheld for payroll taxes - Value 0   0      
Shares withheld for payroll taxes - Shares   (2,403)        
Settlement of stock-based compensation awards - Value 1   1      
Settlement of stock-based compensation awards - Shares   25        
Transfer of charges in excess of capital 0   17 (17)    
Ending Balance at Sep. 28, 2024 $ 4,139 $ 1 $ 0 $ 3,766 $ (264) $ 636
Ending Balance, shares (in shares) at Sep. 28, 2024 125,154,194 125,154,194        
v3.24.3
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 28, 2024
Sep. 30, 2023
Sep. 28, 2024
Sep. 30, 2023
Dec. 30, 2023
Net income (loss) attributable to redeemable noncontrolling interests $ (1) $ 2 $ 0 $ 11 $ 6
Foreign currency translation gain (loss) attributable to redeemable noncontrolling interests 11 (2) (4) (1) $ 5
Unrealized gain (loss) from foreign currency hedging activities, tax (benefit) $ (7) $ 3 $ (1) $ 1  
v3.24.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 9 Months Ended
Sep. 28, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income $ 302 $ 419
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 221 180
Non-cash restructuring charges 11 13
Stock-based compensation expense 30 38
Provision for losses on trade and other accounts receivable 12 7
Benefit from deferred income taxes (41) (4)
Equity in earnings of affiliates (12) (10)
Distributions from equity affiliates 10 12
Changes in unrecognized tax benefits 3 5
Other (25) (11)
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable 188 (72)
Inventories 38 180
Other current assets 38 (55)
Accounts payable and accrued expenses (131) (170)
Net cash provided by operating activities 644 532
Cash flows from investing activities:    
Purchases of property and equipment (112) (108)
Payments related to equity investments and business acquisitions, net of cash acquired (223) (668)
Proceeds from loan to affiliate 3 4
Capitalized software costs (30) (30)
Other (10) (6)
Net cash used in investing activities (372) (808)
Cash flows from financing activities:    
Net change in bank credit lines 374 (98)
Proceeds from issuance of long-term debt 120 1,158
Principal payments for long-term debt (193) (457)
Debt issuance costs 0 (3)
Proceeds from issuance of stock upon exercise of stock options 3 1
Payments for repurchases and retirement of common stock (310) (200)
Payments for taxes related to shares withheld for employee taxes (9) (34)
Distributions to noncontrolling shareholders (36) (41)
Acquisitions of noncontrolling interests in subsidiaries (255) (19)
Net cash provided by (used in) financing activities (306) 307
Effect of exchange rate changes on cash and cash equivalents (11) 18
Net change in cash and cash equivalents (45) 49
Cash and cash equivalents, beginning of period 171 117
Cash and cash equivalents, end of period $ 126 $ 166
v3.24.3
Basis of Presentation
 9 Months Ended
Sep. 28, 2024
Basis of Presentation [Abstract]  
Basis of Presentation
Note 1 – Basis of Presentation
Our condensed consolidated financial statements include the accounts of Henry
 
Schein, Inc., and all of our
controlled subsidiaries (“we”, “us” and “our”).
 
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 condensed consolidated financial condition,
 
results of operations or cash flows.
Our accompanying unaudited condensed consolidated financial statements
 
have been prepared in accordance with
accounting principles generally accepted in the United States
 
(“U.S. GAAP”) for interim financial information and
with the instructions to Form 10-Q and Article 10 of Regulation S-X.
 
Accordingly, they do not include all of the
information and footnote disclosures required by U.S. GAAP for complete
 
financial statements.
The unaudited interim condensed consolidated financial statements should be
 
read in conjunction with the audited
consolidated financial statements and notes to the consolidated financial
 
statements contained in our Annual Report
on Form 10-K for the year ended December 30, 2023 and with the information
 
contained in our other publicly-
available filings with the Securities and Exchange Commission.
 
The condensed consolidated financial statements
reflect all adjustments considered necessary for a fair presentation of
 
the consolidated results of operations and
financial position for the interim periods presented.
 
All such adjustments are of a normal recurring nature.
 
The preparation of 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.
 
The results of
operations for the three and nine months ended September 28, 2024
 
are not necessarily indicative of the results to
be expected for any other interim period or for the year ending December 28, 2024.
Our condensed 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.
We consolidate the results of operations and financial position of a trade accounts receivable securitization which
we consider a VIE because we are its primary beneficiary, as 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
benefits.
 
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 September 28, 2024
and December 30, 2023, certain trade accounts receivable that can
 
only be used to settle obligations of this VIE
were $
341
 
million and $
284
 
million, respectively, and the liabilities of this VIE where the creditors have recourse
to us were $
210
 
million and $
210
 
million, respectively.
v3.24.3
Significant Accounting Policies and Recently Issued Accounting Standards
 9 Months Ended
Sep. 28, 2024
Significant Accounting Policies and Recently Issued Accounting Standards [Abstract]  
Significant Accounting Policies and Recently Issued Accounting Standards
Note 2 – Significant Accounting Policies and Recently Issued Accounting
 
Standards
Significant Accounting Policies
 
There have been no material changes in our significant accounting policies during
 
the three and nine months ended
September 28, 2024, as compared to the significant accounting policies
 
described in Item 8 of our Annual Report
on Form 10-K for the year ended December 30, 2023.
Recently Issued Accounting Standards
In March 2024, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update
(“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, 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.
In November 2023, the FASB issued ASU 2023-07, “
Segment Reporting (Topic 280): Improvements to Reportable
Segments
,” 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.
 
Currently, Topic
 
280 requires that a public entity disclose certain information about its
 
reportable
segments.
 
For example, a public entity is required to report a measure of
 
segment profit or loss that the chief
operating decision maker uses to assess segment performance and
 
make decisions about allocating resources.
 
Topic 280 also requires other specified segment items and amounts, such as depreciation, amortization and
depletion expense, to be disclosed under certain circumstances.
 
The amendments in this ASU do not change or
remove those disclosure requirements and 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.
 
This ASU is effective for fiscal years beginning after December 15, 2023, and interim
 
periods within fiscal years
beginning after December 15, 2024.
 
Early adoption is permitted.
 
We are currently evaluating the impact that ASU
2023- 07 will have on our consolidated financial statements.
v3.24.3
Cyber Incident
 9 Months Ended
Sep. 28, 2024
Cyber Incident [Abstract]  
Cyber Incident
Note 3 – 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 three and nine months ended September 28, 2024, 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 three and nine months ended September 28, 2024, we
 
incurred $
1
 
million and $
9
 
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 three and nine months ended
September 28, 2024, we received insurance proceeds of $
10
 
million and $
20
 
million, respectively, representing a
partial insurance recovery of losses related to the cyber incident.
 
The expenses and insurance recoveries related to
the cyber incident are included in the selling, general and administrative
 
line in our condensed consolidated
statements of income.
v3.24.3
Net Sales from Contracts with Customers
 9 Months Ended
Sep. 28, 2024
Net Sales from Contracts with Customers [Abstract]  
Net Sales from Contracts with Customers
Note 4 – Net Sales from Contracts with Customers
Net sales are recognized in accordance with policies disclosed in Item
 
8 of our Annual Report on Form 10-K for
the year ended December 30, 2023.
Disaggregation of Net Sales
The following table disaggregates our net sales by reportable and operating segment
 
and geographic area:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Nine Months Ended
September 28, 2024
September 28, 2024
North
America
International
Global
North
America
International
Global
Net sales:
Health care distribution
 
Dental
 
$
1,089
$
763
$
1,852
$
3,321
$
2,369
$
5,690
Medical
 
1,076
25
1,101
3,060
80
3,140
Total health care distribution
2,165
788
2,953
6,381
2,449
8,830
Technology
 
and value-added services
 
190
31
221
565
87
652
Total net sales
$
2,355
$
819
$
3,174
$
6,946
$
2,536
$
9,482
Three Months Ended
 
Nine Months Ended
September 30, 2023
September 30, 2023
North
America
International
Global
North
America
International
Global
Net sales:
Health care distribution
 
Dental
 
$
1,134
$
748
$
1,882
$
3,447
$
2,290
$
5,737
Medical
 
1,044
26
1,070
2,920
71
2,991
Total health care distribution
2,178
774
2,952
6,367
2,361
8,728
Technology
 
and value-added services
 
185
25
210
519
75
594
Total net sales
$
2,363
$
799
$
3,162
$
6,886
$
2,436
$
9,322
Contract Liabilities
At September 28, 2024,
 
December 30, 2023, and December 31, 2022, the current and non-current
 
contract
liabilities were $
76
 
million and $
8
 
million; $
89
 
million and $
9
 
million; and $
86
 
million and $
8
 
million,
respectively.
 
During the nine months ended September 28, 2024, we recognized,
 
in net sales, $
72
 
million of the
amount that was previously deferred at December 30, 2023.
 
During the nine months ended September 30, 2023,
we recognized in net sales $
70
 
million of the amount that was previously deferred at December 31, 2022.
 
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.
v3.24.3
Segment Data
 9 Months Ended
Sep. 28, 2024
Segment Data [Abstract]  
Segment Data
 
Note 5
 
–
Segment Data
We conduct our business through
two
 
reportable segments: (i) health care distribution and (ii) technology
 
and
value-added services.
 
These segments offer different products and services to the same customer base.
 
Our global
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.
 
Our
dental and medical groups serve practitioners in
33
 
countries worldwide.
The health care distribution reportable segment aggregates our global dental
 
and medical operating segments.
 
This
segment distributes consumable products, dental specialty products (including
 
implant, orthodontic and endodontic
products),
 
small equipment, laboratory products, large equipment, equipment repair
 
services, branded and generic
pharmaceuticals, vaccines, surgical products, diagnostic tests, infection-control products, personal
 
protective
equipment (“PPE”) products, vitamins and orthopedic implants.
 
Our global technology and value-added services reportable segment provides
 
software, technology and other value-
added services to health care practitioners.
 
Our technology offerings include practice management software
systems for dental practitioners.
 
Our value-added practice solutions include practice consultancy, education,
revenue cycle management and financial services on a non-recourse basis,
 
e-services, continuing education services
for practitioners,
 
practice technology, network and hardware services,
 
and other services.
The following tables present information about our reportable and operating
 
segments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
Nine Months Ended
September 28,
September 30,
September 28,
September 30,
2024
2023
2024
2023
Net sales:
Health care distribution
(1)
Dental
 
$
1,852
$
1,882
$
5,690
$
5,737
Medical
 
1,101
1,070
3,140
2,991
Total health care distribution
2,953
2,952
8,830
8,728
Technology
 
and value-added services
(2)
221
210
652
594
Total
 
$
3,174
$
3,162
$
9,482
$
9,322
Consists of consumable products, dental specialty products (including implant, orthodontic and endodontic products), small
equipment, laboratory products, large equipment, equipment repair services, branded and generic pharmaceuticals, vaccines, surgical
products, diagnostic tests, infection-control products, PPE products, vitamins and orthopedic implants.
(2)
Consists of practice management software and other value-added products, which are distributed primarily to health care providers,
practice consultancy, education, revenue cycle management and financial services on a non-recourse basis, e-services, continuing
education services for practitioners, practice technology, network and hardware services, and other services.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
Nine Months Ended
September 28,
September 30,
September 28,
September 30,
2024
2023
2024
2023
Operating Income:
Health care distribution
 
$
118
$
160
$
390
$
471
Technology
 
and value-added services
 
39
40
76
105
Total
$
157
$
200
$
466
$
576
v3.24.3
Business Acquisitions
 9 Months Ended
Sep. 28, 2024
Business Acquisitions [Abstract]  
Business Acquisitions
Note 6
 
–
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.
The following table aggregates
 
the preliminary estimated fair value, as of the date of acquisition, of
 
consideration
paid and net assets acquired in the TriMed acquisition:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2024
Acquisition consideration:
Cash
$
141
Deferred consideration
22
Redeemable noncontrolling interests
153
Total consideration
$
316
Identifiable assets acquired and liabilities assumed:
Current assets
$
36
Intangible assets
221
Other noncurrent assets
10
Current liabilities
(9)
Deferred income taxes
(62)
Other noncurrent liabilities
(6)
Total identifiable
 
net assets
190
Goodwill
126
Total net assets acquired
$
316
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.
 
The accounting for the acquisition of TriMed has not been completed in several areas,
 
including but not limited to
pending assessments of accounts receivable, right-of-use lease assets,
 
accrued liabilities, lease liabilities, income
and non-income based taxes.
 
During the three months ended September 28, 2024, we did not
 
record any material
measurement period adjustments.
 
We expect to finalize these amounts as soon as possible but no later than one
year from the acquisition date.
Pro forma financial information has not been presented because the
 
impact of the TriMed acquisition during the
three and nine months ended September 28, 2024 was immaterial
 
to our condensed consolidated financial
statements.
Other 2024 Acquisitions
During the nine months ended September 28, 2024, we acquired companies
 
within the health care distribution and
technology and value-added services segments.
 
Our acquired ownership interest in these companies range from
51
% to
100
%.
 
Total consideration for these acquisitions was $
113
 
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 nine months ended September 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 accounts receivable,
 
right-of-use lease assets, lease liabilities,
accrued liabilities and non-income based taxes.
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 three and nine months ended September 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
The impact of these acquisitions, individually and in the aggregate, was
 
not considered material to our condensed
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
(including cash paid of $
289
 
million, deferred consideration of $
22
 
million and redeemable noncontrolling interests
of $
37
 
million).
 
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 quarter ended June 29, 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 has 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.
 
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 quarter ended June 29, 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 has 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 (including cash paid of $
216
 
million, $
25
 
million of contributed equity share in a
controlled subsidiary, and redeemable noncontrolling interests of $
182
 
million).
 
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 quarter ended March 30, 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 has not been presented because the
 
impact of the Biotech Dental acquisition was
immaterial to our condensed consolidated financial statements.
Other 2023 Acquisitions
During the year ended December 30, 2023, in addition to those noted above,
 
we acquired companies within the
health care distribution and technology and value-added services segments.
 
Our acquired ownership interest ranged
between
51
% to
100
%.
 
During the three and nine months ended September 28, 2024, we recorded
 
an adjustment of
$
0
 
million and $
38
 
million, respectively, within selling, general and administrative in our condensed consolidated
statements of income, representing a change in the fair value of contingent
 
consideration related to a 2023
acquisition.
During the nine months ended September 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 condensed
consolidated financial statements relating to changes in estimated values of
 
assets acquired, liabilities assumed and
contingent consideration assets and liabilities.
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 deductible for
 
tax
purposes.
Pro forma financial information for our 2023 acquisitions has not been
 
presented because the impact of the
acquisitions was immaterial to our condensed consolidated
 
financial statements.
Acquisition Costs
During the three and nine months ended September 28, 2024, we
 
incurred $
2
 
million and $
5
 
million in acquisition
costs, respectively.
 
During the three and nine months ended September 30, 2023,
 
we incurred $
6
 
million and $
18
million in acquisition costs, respectively.
 
These costs are included in selling, general and administrative
 
in our
condensed consolidated statements of income.
v3.24.3
Fair Value Measurements
 9 Months Ended
Sep. 28, 2024
Fair Value Measurements [Abstract]  
Fair Value Measurements
Note 7 – 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.
 
 
 
 
 
 
 
 
 
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 are a reasonable
estimate of fair value based on the interest rates in the applicable
 
markets.
 
Our investments and 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 September 28, 2024 and December 30, 2023 was
estimated at $
2,653
 
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 agreements, forecasted
 
inventory purchase commitments,
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.
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
 
condensed 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 condensed 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 condensed 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
 
September 28, 2024 and December 30,
2023:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
September 28, 2024
Level 1
Level 2
Level 3
Total
Assets:
Derivative contracts designated as hedges
$
-
$
-
$
-
$
-
Derivative contracts undesignated
-
2
-
2
Total return
 
swap
-
2
-
2
Total assets
 
$
-
$
4
$
-
$
4
Liabilities:
Derivative contracts designated as hedges
$
-
$
18
$
-
$
18
Derivative contracts undesignated
-
3
-
3
Contingent consideration
-
-
49
49
Total liabilities
 
$
-
$
21
$
49
$
70
Redeemable noncontrolling interests
 
$
-
$
-
$
832
$
832
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
v3.24.3
Debt
 9 Months Ended
Sep. 28, 2024
Debt [Abstract]  
Debt
Note 8 – Debt
Bank Credit Lines
Bank credit lines consisted of the following:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
September 28,
December 30,
2024
2023
Revolving credit agreement
$
50
$
200
Other short-term bank credit lines
588
64
Total
 
$
638
$
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 September 28, 2024 the
interest rate on this revolving credit facility was
4.96
% plus
1.18
% for a combined rate of
6.14
%.
 
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 September
28, 2024 and December 30, 2023, we had $
50
 
million and $
200
 
million in borrowings, respectively under this
revolving credit facility.
 
During the nine months ended September 28, 2024, the
 
average outstanding balance under
the Revolving Credit Agreement was approximately $
64
 
million.
 
As of September 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 September 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 $
689
 
million and $
368
 
million, respectively.
 
As of
September 28, 2024 and December 30, 2023, $
588
 
million and $
64
 
million, respectively, were outstanding.
 
During
the nine months ended September 28, 2024, the average outstanding balances
 
under our various other short-term
bank credit lines was approximately $
426
 
million.
 
As of September 28, 2024 and December 30, 2023, borrowings
under other short-term bank credit lines had weighted average interest
 
rates of
5.94
% and
6.02
%, respectively.
Long-term debt
Long-term debt consisted of the following:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
September 28,
December 30,
2024
2023
Private placement facilities
 
$
1,024
$
1,074
Term loan
722
741
U.S. trade accounts receivable securitization
210
210
Various
 
collateralized and uncollateralized loans payable with interest,
in varying installments through 2031 at interest rates
from
0.00
% to
9.42
% at September 28, 2024 and
 
from
0.00
% to
9.42
% at December 30, 2023
52
54
Finance lease obligations
7
8
Total
 
2,015
2,087
Less current maturities
 
(109)
(150)
Total long-term debt
 
$
1,906
$
1,937
 
 
 
 
 
 
 
 
 
 
 
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, which
 
have a weighted average interest rate of
3.66
%, as of September 28, 2024 are presented in the following table:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Amount of
Date of
Borrowing
Borrowing
 
Borrowing
Outstanding
Rate
Due Date
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
$
1,024
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 September 28, 2024, the borrowings outstanding under
 
this term loan were $
722
 
million.
 
At September 28, 2024, the interest rate under the Term Credit Agreement was
5.10
% plus
1.60
% for a combined
rate of
6.70
%.
 
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
September 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
.
 
This facility agreement has a purchase limit of
$
450
 
million with
two
 
banks as agents, and expires on
December 15, 2025
.
As of September 28, 2024 and December 30, 2023, the borrowings
 
outstanding under this securitization facility
were $
210
 
million and $
210
 
million, respectively.
 
At September 28, 2024, the interest rate on borrowings under
this facility was based on the
asset-backed commercial paper rate
 
of
5.28
% plus
0.75
%, for a combined rate of
6.03
%.
 
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.
v3.24.3
Income Taxes
 9 Months Ended
Sep. 28, 2024
Income Taxes [Abstract]  
Income Taxes
Note 9 – Income Taxes
 
 
 
For the nine months ended September 28, 2024 our effective tax rate was
25.1
%, compared to
22.5
% for the prior
year period.
 
The difference between our effective tax rate and the federal statutory tax rate primarily
 
relates to state
and foreign income taxes and interest expense.
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.
 
As of September 28, 2024,
 
the impact of the
Pillar Two rules to our financial statements was immaterial.
 
As we operate in jurisdictions which have adopted
Pillar Two,
 
we are continuing to analyze the implications to effectively manage the impact
 
for 2024 and beyond.
 
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.
The total amount of unrecognized tax benefits, which are included in
 
“other liabilities” within our condensed
consolidated balance sheets, as of September 28, 2024 and December 30,
 
2023, was $
107
 
million and $
115
 
million,
respectively, of which $
99
 
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 condensed 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 $
1
 
million and $
3
million for the nine months ended September 28, 2024 and September
 
30, 2023,
 
respectively.
 
The total amount of
accrued interest is included in “other liabilities,” and was $
18
 
million as of September 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
condensed consolidated financial statements.
v3.24.3
Plans of Restructuring
 9 Months Ended
Sep. 28, 2024
Plans of Restructuring [Abstract]  
Plans of Restructuring
Note 10 – Plans of Restructuring
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 three months ended September 28, 2024 and
 
September 30, 2023,
in connection with our 2022 Plan, we recorded restructuring costs of
 
$
12
 
million and $
11
 
million, respectively.
 
During the nine months ended September 28, 2024 and September 30, 2023,
 
in connection with our 2022 Plan, we
recorded restructuring costs of $
37
 
million and $
59
 
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, and other exit costs.
 
We expect to record immaterial charges associated with the 2022 Plan during the
remainder of 2024.
 
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 three and nine months ended September 28,
2024, we recorded restructuring charges associated with the 2024 Plan of $
36
 
million which primarily related to
severance and employee-related costs, accelerated amortization of right-of-use
 
lease assets and fixed assets, and
other lease exit costs.
 
We expect to record restructuring charges associated with the 2024 Plan during the fourth
quarter of 2024 and in 2025, however an estimate of the amount of these charges has not
 
yet been determined.
 
 
Restructuring costs recorded for the three and nine months ended September
 
28, 2024 and September 30, 2023, in
connection with the 2022 Plan and 2024 Plan consisted of the following:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
September 28, 2024
Nine Months Ended
 
September 28, 2024
Health Care
Distribution
Technology
and Value-
Added Services
Total
Health Care
Distribution
Technology
and Value-
Added Services
Total
2024 Plan
Severance and employee-related costs
$
26
$
5
$
31
$
26
$
5
$
31
Accelerated depreciation and amortization
2
2
4
2
2
4
Exit and other related costs
1
-
1
1
-
1
Restructuring costs-2024 Plan
$
29
$
7
$
36
$
29
$
7
$
36
2022 Plan
Severance and employee-related costs
$
7
$
1
$
8
$
21
$
3
$
24
Accelerated depreciation and amortization
1
-
1
7
-
7
Exit and other related costs
1
2
3
4
2
6
Restructuring costs-2022 Plan
$
9
$
3
$
12
$
32
$
5
$
37
Total restructuring
 
costs
$
38
$
10
$
48
$
61
$
12
$
73
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
September 30, 2023
Nine Months Ended
 
September 30, 2023
Health Care
Distribution
Technology
and Value-
Added Services
Total
Health Care
Distribution
Technology
and Value-
Added Services
Total
2022 Plan
Severance and employee-related costs
$
6
$
-
$
6
$
36
$
4
$
40
Accelerated depreciation and amortization
3
1
4
12
2
14
Exit and other related costs
1
-
1
3
1
4
Loss on disposal of a business
-
-
-
1
-
1
Total restructuring
 
costs
$
10
$
1
$
11
$
52
$
7
$
59
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 nine months
 
ended September 28, 2024.
 
The remaining
accrued balance of restructuring costs as of September 28, 2024, which
 
primarily relates to severance and
employee-related costs, is included in accrued expenses: other within
 
our condensed consolidated balance sheets.
 
Liabilities related to exited leased facilities are recorded within our current
 
and non-current operating lease
liabilities within our condensed consolidated balance sheets.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2022 Plan
2024 Plan
Total
Balance, December 30, 2023
 
$
23
$
-
$
23
Restructuring costs
37
36
73
Non-cash accelerated depreciation and amortization
(7)
(4)
(11)
Cash payments and other adjustments
 
(35)
(7)
(42)
Balance, September 28, 2024
 
$
18
$
25
$
43
v3.24.3
Legal Proceedings
 9 Months Ended
Sep. 28, 2024
Legal Proceedings [Abstract]  
Legal Proceedings
Note 11 – 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.
 
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 2023 net sales of approximately $
12.3
 
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.
In August 2022, Henry Schein received a Grand Jury Subpoena from the United
 
States Attorney’s Office for the
Western District of Virginia,
 
seeking documents in connection with an investigation of possible
 
violations of the
Federal Food, Drug & Cosmetic Act by Butler Animal Health Supply, LLC (“Butler”), a former subsidiary of
Henry Schein.
 
The investigation relates to the sale of veterinary prescription drugs
 
to certain customers.
 
In
October 2022, Henry Schein received a second Grand Jury Subpoena
 
from the United States Attorney’s Office for
the Western District of Virginia.
 
The October 2022 Subpoena seeks documents relating to payments Henry
 
Schein
received from Butler or Covetrus, Inc. (“Covetrus”).
 
Butler was spun off into a separate company and became a
subsidiary of Covetrus in 2019 and is no longer owned by Henry Schein.
 
We are cooperating with the
investigation.
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.
 
The case remains pending.
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 proposed 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 proposed settlement is subject to the court’s
final approval.
 
The court has scheduled a fairness hearing on the proposed settlement
 
for February 14, 2025.
 
 
Henry Schein, Inc. and its subsidiary, North American Rescue, LLC (“NAR”), were named as defendants in a qui
tam lawsuit brought under the federal False Claims Act (“FCA”),
 
in an action entitled
Russ and Murphy ex rel.
United States v. North American Rescue, LLC et al.
; Case No. 21-cv-04238, filed in the United States District
 
Court
for the Eastern District of Pennsylvania.
 
The case was filed under seal in 2021 by two relators (Corey
 
Russ and
Chris Murphy) who worked for one of NAR’s competitors.
 
Relators also name C-A-T Resources, LLC (“CAT-R”)
as a defendant.
 
CAT
 
-R manufactures one of the products at issue in the case (the
 
combat application tourniquet, or
“CAT”).
 
After the Department of Justice declined to intervene, the case was unsealed,
 
and Relators filed their first
amended complaint in November 2023.
 
In response to motions to dismiss filed by Henry Schein, NAR
 
and CAT-
R, Relators requested and obtained leave to file their Second Amended
 
Complaint on April 24, 2024.
 
On July 26,
2024, the court ruled on motions to dismiss filed by Henry Schein,
 
NAR and CAT-R.
 
The court dismissed the
claims against Henry Schein (without prejudice).
 
The motions to dismiss filed by NAR and CAT-R were
denied.
 
Relators’ FCA claims are based on allegations that NAR made false
 
representations and certifications in
connection with, and sold and submitted false claims for payment to the federal
 
government for, various medical
products that Relators contend violated certain “Buy American”
 
laws (e.g., the Berry Amendment and Trade
Agreements Act of 1979) and/or were not properly sterilized as noted
 
on the products’ packaging, and thus
misbranded.
 
These products include the CAT,
 
syringes, compressed gauze, tracheostomy kits, hypothermia
blankets, eye, ear, nose and throat kits, and trauma dressing.
 
Relators sought three times the amount of damages to
be proved at trial, statutory civil penalties, reasonable expenses, attorneys’
 
fees and costs, and prejudgment
interest.
 
Pursuant to a settlement for an immaterial amount, the
 
court has dismissed the case with prejudice.
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 September 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.
v3.24.3
Stock-Based Compensation
 9 Months Ended
Sep. 28, 2024
Stock-Based Compensation [Abstract]  
Stock-Based Compensation
Note 12 – 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
 
of Directors
(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.
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 nine months ended September 28, 2024, we did
no
t grant any stock options.
 
 
 
Our condensed consolidated statements of income reflect pre-tax share-based compensation
 
expense of $
10
 
million,
and $
30
 
million for the three and nine months ended September 28, 2024,
 
respectively.
 
For the three and nine
months ended September 30, 2023, we recorded pre-tax share-based compensation
 
expense of $
14
 
million, and $
38
million.
Total unrecognized compensation cost related to unvested awards as of September 28, 2024 was $
83
 
million, which
is expected to be recognized over a weighted-average period of approximately
2.6
 
years.
Our condensed 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 nine
months ended September 28, 2024 and September 30, 2023.
The following table summarizes the stock option activity for the nine months
 
ended September 28, 2024:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Stock Options
Weighted Average
Weighted Average
Aggregate
Exercise
Remaining Contractual
 
 
Intrinsic
Shares
Price
Life (in years)
 
Value
Outstanding at beginning of period
 
1,078,459
$
71.46
 
Granted
 
-
 
-
 
Exercised
 
(48,842)
62.71
 
Forfeited
 
(10,980)
85.31
 
Outstanding at end of period
 
1,018,637
$
71.73
 
6.8
 
$
6
Options exercisable at end of period
 
887,589
$
69.70
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted Average
Weighted Average
Aggregate
Number of
Exercise
Remaining Contractual
Intrinsic
Options
Price
Life (in years)
Value
Expected to vest
131,048
$
85.51
7.5
$
-
The following tables summarize the activity of our unvested RSUs for
 
the nine months ended September 28, 2024:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Time-Based Restricted Stock Units
Performance-Based Restricted Stock Units
Weighted
 
Weighted
 
Average
 
Intrinsic
 
Average
 
Intrinsic
Grant Date Fair
Value
Grant Date Fair
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
 
465,339
75.83
329,118
76.70
Vested
 
(329,115)
63.00
(8,262)
66.53
Forfeited
 
(87,304)
77.19
(55,976)
79.69
Outstanding at end of period
 
1,704,313
$
72.92
$
73.22
473,622
$
75.91
$
73.22
v3.24.3
Redeemable Noncontrolling Interests
 9 Months Ended
Sep. 28, 2024
Redeemable Noncontrolling Interests [Abstract]  
Redeemable Noncontrolling Interests
Note 13 – 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.
 
Accounting Standards Codification 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 nine months ended September 28, 2024 and the year
 
ended December 30, 2023 are presented in the
following table:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
September 28,
December 30,
2024
2023
Balance, beginning of period
 
$
864
$
576
Decrease in redeemable noncontrolling interests due to acquisitions of
 
 
noncontrolling interests in subsidiaries
(257)
(19)
Increase in redeemable noncontrolling interests due to business acquisitions
172
326
Net income attributable to redeemable noncontrolling interests
 
-
6
Distributions declared, net of capital contributions
(30)
(19)
Effect of foreign currency translation gain (loss) attributable to
 
redeemable noncontrolling interests
 
(4)
5
Change in fair value of redeemable securities
 
87
(11)
Balance, end of period
 
$
832
$
864
v3.24.3
Comprehensive Income
 9 Months Ended
Sep. 28, 2024
Comprehensive Income [Abstract]  
Comprehensive Income
 
 
 
 
Note 14 – 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:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
September 28,
December 30,
2024
2023
Attributable to redeemable noncontrolling interests:
Foreign currency translation adjustment
 
$
(36)
$
(32)
Attributable to noncontrolling interests:
Foreign currency translation adjustment
 
$
-
$
(1)
Attributable to Henry Schein, Inc.:
Foreign currency translation adjustment
$
(243)
$
(188)
Unrealized gain loss from hedging activities
 
(16)
(13)
Pension adjustment loss
 
(5)
(5)
Accumulated other comprehensive loss
 
$
(264)
$
(206)
Total Accumulated
 
other comprehensive loss
 
$
(300)
$
(239)
The following table summarizes the components of comprehensive income, net
 
of applicable taxes as follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
Nine Months Ended
September 28,
September 30,
September 28,
September 30,
2024
2023
2024
2023
Net income
$
99
$
143
$
302
$
419
Foreign currency translation gain (loss)
58
(45)
(58)
(17)
Tax effect
 
-
-
-
-
Foreign currency translation gain (loss)
58
(45)
(58)
(17)
Unrealized gain (loss) from hedging activities
(25)
9
(4)
3
Tax effect
 
7
(3)
1
(1)
Unrealized gain (loss) from hedging activities
(18)
6
(3)
2
Comprehensive income
 
$
139
$
104
$
241
$
404
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 nine months ended September 28, 2024 and
 
nine months ended September 30,
2023 was primarily due to changes in foreign currency exchange
 
rates of the Brazilian Real, British Pound, Euro,
Swiss Franc, Canadian Dollar, and Australian Dollar.
The hedging gain (loss) during the three and nine months ended September
 
28, 2024, and September 30, 2023 was
attributable to a net investment hedge.
The following table summarizes our total comprehensive income, net of
 
applicable taxes as follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
Nine Months Ended
September 28,
September 30,
September 28,
September 30,
2024
2023
2024
2023
Comprehensive income attributable to
Henry Schein, Inc.
 
$
127
$
100
$
238
$
384
Comprehensive income attributable to
noncontrolling interests
 
-
4
7
10
Comprehensive income (loss) attributable to
Redeemable noncontrolling interests
 
12
-
(4)
10
Comprehensive income
 
$
139
$
104
$
241
$
404
v3.24.3
Earnings Per Share
 9 Months Ended
Sep. 28, 2024
Earnings Per Share [Abstract]  
Earnings Per Share
Note 15
 
–
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:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
Nine Months Ended
September 28,
September 30,
September 28,
September 30,
2024
2023
2024
2023
Basic
 
126,124,715
130,388,353
127,550,045
130,888,717
Effect of dilutive securities:
Stock options and restricted stock units
 
930,219
1,053,782
948,449
1,260,455
Diluted
 
127,054,934
131,442,135
128,498,494
132,149,172
The number of antidilutive securities that were excluded from the calculation
 
of diluted weighted average common
shares outstanding are as follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
Nine Months Ended
September 28,
September 30,
September 28,
September 30,
2024
2023
2024
2023
Stock options
412,574
424,005
416,065
426,237
Restricted stock units
17,627
7,362
16,339
15,072
Total anti-dilutive
 
securities excluded from earnings per
share computation
430,201
431,367
432,404
441,309
v3.24.3
Supplemental Cash Flow Information
 9 Months Ended
Sep. 28, 2024
Supplemental Cash Flow information [Abstract]  
Supplemental Cash Flow Information
Note 16 – Supplemental Cash Flow Information
 
Cash paid for interest and income taxes was:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Nine Months Ended
September 28,
September 30,
2024
2023
Interest
$
92
$
52
Income taxes
127
178
For the nine months ended September 28, 2024 and September 30, 2023, we had
 
$
(4)
 
million and $
3
 
million of
non-cash net unrealized gains (losses) related to hedging activities,
 
respectively.
v3.24.3
Related Party Transactions
 9 Months Ended
Sep. 28, 2024
Related Party Transactions [Abstract]  
Related Party Transactions
Note 17 – 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 three and
nine months ended September 28, 2024, we recorded $
8
 
million and $
23
 
million, respectively, within selling,
general and administrative in our condensed consolidated statements of income,
 
in connection with costs related to
this royalty agreement.
 
During the three and nine months ended September 30, 2023 we recorded
 
$
8
 
million and
$
23
 
million, respectively, within selling, general and administrative in our condensed consolidated statements of
income, in connection with costs related to this royalty agreement.
 
As of September 28, 2024 and December 30,
2023, Henry Schein One, LLC had a net payable balance to Internet
 
Brands of $
10
 
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 condensed
 
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 three and nine months ended September 28, 2024, we
 
recorded net sales of $
14
 
million and
$
38
 
million respectively, to such entities.
 
During the three and nine months ended September 30, 2023, we
recorded net sales of $
11
 
million and $
34
 
million respectively, to such entities.
 
During the three and nine months
ended September 28, 2024, we purchased $
2
 
million and $
8
 
million respectively, from such entities.
 
During the
three and nine months ended September 30, 2023, we purchased $
1
 
million and $
7
 
million respectively, from such
entities.
 
At September 28, 2024 and December 30, 2023, we had an aggregate
 
$
32
 
million and $
32
 
million,
respectively, due from our equity affiliates, and $
8
 
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.
 
These
leases are classified as operating leases and have a remaining lease term
 
ranging from
six months
 
to
13
 
years.
 
As
of September 28, 2024, current and non-current liabilities associated with related
 
party operating leases were $
6
million and $
22
 
million, respectively.
 
At September 28, 2024, related party leases represented
7.4
% and
8.3
% of
the total current and non-current operating lease liabilities, respectively.
 
At 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.
v3.24.3
Basis of Presentation (Policy)
 9 Months Ended
Sep. 28, 2024
Basis of Presentation [Abstract]  
Principles of Consolidation
Our condensed consolidated financial statements include the accounts of Henry
 
Schein, Inc., and all of our
controlled subsidiaries (“we”, “us” and “our”).
 
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 condensed consolidated financial condition,
 
results of operations or cash flows.
Use of Estimates
The preparation of 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.
 
The results of
operations for the three and nine months ended September 28, 2024
 
are not necessarily indicative of the results to
be expected for any other interim period or for the year ending December 28, 2024.
Consolidated Variable Interest Entity
We consolidate the results of operations and financial position of a trade accounts receivable securitization which
we consider a VIE because we are its primary beneficiary, as 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
benefits.
 
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 September 28, 2024
and December 30, 2023, certain trade accounts receivable that can
 
only be used to settle obligations of this VIE
were $
341
 
million and $
284
 
million, respectively, and the liabilities of this VIE where the creditors have recourse
to us were $
210
 
million and $
210
 
million, respectively.
v3.24.3
Significant Accounting Policies and Recently Issued Accounting Standards (Policy)
 9 Months Ended
Sep. 28, 2024
Significant Accounting Policies and Recently Issued Accounting Standards [Abstract]  
Recently Issued Accounting Standards
Recently Issued Accounting Standards
In March 2024, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update
(“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, 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.
In November 2023, the FASB issued ASU 2023-07, “
Segment Reporting (Topic 280): Improvements to Reportable
Segments
,” 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.
 
Currently, Topic
 
280 requires that a public entity disclose certain information about its
 
reportable
segments.
 
For example, a public entity is required to report a measure of
 
segment profit or loss that the chief
operating decision maker uses to assess segment performance and
 
make decisions about allocating resources.
 
Topic 280 also requires other specified segment items and amounts, such as depreciation, amortization and
depletion expense, to be disclosed under certain circumstances.
 
The amendments in this ASU do not change or
remove those disclosure requirements and 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.
 
This ASU is effective for fiscal years beginning after December 15, 2023, and interim
 
periods within fiscal years
beginning after December 15, 2024.
 
Early adoption is permitted.
 
We are currently evaluating the impact that ASU
2023- 07 will have on our consolidated financial statements.
v3.24.3
Net Sales from Contracts with Customers (Tables)
 9 Months Ended
Sep. 28, 2024
Net Sales from Contracts with Customers [Abstract]  
Disaggregation of Revenue
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Nine Months Ended
September 28, 2024
September 28, 2024
North
America
International
Global
North
America
International
Global
Net sales:
Health care distribution
 
Dental
 
$
1,089
$
763
$
1,852
$
3,321
$
2,369
$
5,690
Medical
 
1,076
25
1,101
3,060
80
3,140
Total health care distribution
2,165
788
2,953
6,381
2,449
8,830
Technology
 
and value-added services
 
190
31
221
565
87
652
Total net sales
$
2,355
$
819
$
3,174
$
6,946
$
2,536
$
9,482
Three Months Ended
 
Nine Months Ended
September 30, 2023
September 30, 2023
North
America
International
Global
North
America
International
Global
Net sales:
Health care distribution
 
Dental
 
$
1,134
$
748
$
1,882
$
3,447
$
2,290
$
5,737
Medical
 
1,044
26
1,070
2,920
71
2,991
Total health care distribution
2,178
774
2,952
6,367
2,361
8,728
Technology
 
and value-added services
 
185
25
210
519
75
594
Total net sales
$
2,363
$
799
$
3,162
$
6,886
$
2,436
$
9,322
v3.24.3
Segment Data (Tables)
 9 Months Ended
Sep. 28, 2024
Segment Data [Abstract]  
Business Segment Information
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
Nine Months Ended
September 28,
September 30,
September 28,
September 30,
2024
2023
2024
2023
Net sales:
Health care distribution
(1)
Dental
 
$
1,852
$
1,882
$
5,690
$
5,737
Medical
 
1,101
1,070
3,140
2,991
Total health care distribution
2,953
2,952
8,830
8,728
Technology
 
and value-added services
(2)
221
210
652
594
Total
 
$
3,174
$
3,162
$
9,482
$
9,322
Consists of consumable products, dental specialty products (including implant, orthodontic and endodontic products), small
equipment, laboratory products, large equipment, equipment repair services, branded and generic pharmaceuticals, vaccines, surgical
products, diagnostic tests, infection-control products, PPE products, vitamins and orthopedic implants.
(2)
Consists of practice management software and other value-added products, which are distributed primarily to health care providers,
practice consultancy, education, revenue cycle management and financial services on a non-recourse basis, e-services, continuing
education services for practitioners, practice technology, network and hardware services, and other services.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
Nine Months Ended
September 28,
September 30,
September 28,
September 30,
2024
2023
2024
2023
Operating Income:
Health care distribution
 
$
118
$
160
$
390
$
471
Technology
 
and value-added services
 
39
40
76
105
Total
$
157
$
200
$
466
$
576
v3.24.3
Business Acquisitions (Tables)
 9 Months Ended
Sep. 28, 2024
TriMed, Inc. [Member]  
Business Acquisition [Line Items]  
Summary of Estimated Fair Value of Consideration Paid and Net Assets Acquired
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2024
Acquisition consideration:
Cash
$
141
Deferred consideration
22
Redeemable noncontrolling interests
153
Total consideration
$
316
Identifiable assets acquired and liabilities assumed:
Current assets
$
36
Intangible assets
221
Other noncurrent assets
10
Current liabilities
(9)
Deferred income taxes
(62)
Other noncurrent liabilities
(6)
Total identifiable
 
net assets
190
Goodwill
126
Total net assets acquired
$
316
Summary of Identifiable Intangible Assets Acquired and Estimated Useful Lives
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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]  
Summary of Estimated Fair Value of Consideration Paid and Net Assets Acquired
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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
Summary of Identifiable Intangible Assets Acquired and Estimated Useful Lives
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2023
Weighted Average
 
Useful Lives
(in years)
Customer relationships and lists
$
156
12
Trademarks / Tradenames
10
5
Total
$
166
S.I.N [Member]  
Business Acquisition [Line Items]  
Summary of Estimated Fair Value of Consideration Paid and Net Assets Acquired
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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
Summary of Identifiable Intangible Assets Acquired and Estimated Useful Lives
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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]  
Summary of Estimated Fair Value of Consideration Paid and Net Assets Acquired
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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
Summary of Identifiable Intangible Assets Acquired and Estimated Useful Lives
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2023
Weighted Average
 
Useful
Lives (in years)
Product development
$
124
10
Customer relationships and lists
47
9
Trademarks / Tradenames
18
7
Total
$
189
v3.24.3
Fair Value Measurements (Tables)
 9 Months Ended
Sep. 28, 2024
Fair Value Measurements [Abstract]  
Assets and Liabilities Measured and Recognized on a Recurring Basis
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
September 28, 2024
Level 1
Level 2
Level 3
Total
Assets:
Derivative contracts designated as hedges
$
-
$
-
$
-
$
-
Derivative contracts undesignated
-
2
-
2
Total return
 
swap
-
2
-
2
Total assets
 
$
-
$
4
$
-
$
4
Liabilities:
Derivative contracts designated as hedges
$
-
$
18
$
-
$
18
Derivative contracts undesignated
-
3
-
3
Contingent consideration
-
-
49
49
Total liabilities
 
$
-
$
21
$
49
$
70
Redeemable noncontrolling interests
 
$
-
$
-
$
832
$
832
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
v3.24.3
Debt (Tables)
 9 Months Ended
Sep. 28, 2024
Debt [Abstract]  
Schedule of Bank Credit Lines
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
September 28,
December 30,
2024
2023
Revolving credit agreement
$
50
$
200
Other short-term bank credit lines
588
64
Total
 
$
638
$
264
Schedule of Long-Term Debt
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
September 28,
December 30,
2024
2023
Private placement facilities
 
$
1,024
$
1,074
Term loan
722
741
U.S. trade accounts receivable securitization
210
210
Various
 
collateralized and uncollateralized loans payable with interest,
in varying installments through 2031 at interest rates
from
0.00
% to
9.42
% at September 28, 2024 and
 
from
0.00
% to
9.42
% at December 30, 2023
52
54
Finance lease obligations
7
8
Total
 
2,015
2,087
Less current maturities
 
(109)
(150)
Total long-term debt
 
$
1,906
$
1,937
Schedule of Private Placement Facility Borrowings
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Amount of
Date of
Borrowing
Borrowing
 
Borrowing
Outstanding
Rate
Due Date
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
$
1,024
v3.24.3
Plans of Restructuring (Tables)
 9 Months Ended
Sep. 28, 2024
Plans of Restructuring [Abstract]  
Schedule of Restructuring Costs
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
September 28, 2024
Nine Months Ended
 
September 28, 2024
Health Care
Distribution
Technology
and Value-
Added Services
Total
Health Care
Distribution
Technology
and Value-
Added Services
Total
2024 Plan
Severance and employee-related costs
$
26
$
5
$
31
$
26
$
5
$
31
Accelerated depreciation and amortization
2
2
4
2
2
4
Exit and other related costs
1
-
1
1
-
1
Restructuring costs-2024 Plan
$
29
$
7
$
36
$
29
$
7
$
36
2022 Plan
Severance and employee-related costs
$
7
$
1
$
8
$
21
$
3
$
24
Accelerated depreciation and amortization
1
-
1
7
-
7
Exit and other related costs
1
2
3
4
2
6
Restructuring costs-2022 Plan
$
9
$
3
$
12
$
32
$
5
$
37
Total restructuring
 
costs
$
38
$
10
$
48
$
61
$
12
$
73
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
September 30, 2023
Nine Months Ended
 
September 30, 2023
Health Care
Distribution
Technology
and Value-
Added Services
Total
Health Care
Distribution
Technology
and Value-
Added Services
Total
2022 Plan
Severance and employee-related costs
$
6
$
-
$
6
$
36
$
4
$
40
Accelerated depreciation and amortization
3
1
4
12
2
14
Exit and other related costs
1
-
1
3
1
4
Loss on disposal of a business
-
-
-
1
-
1
Total restructuring
 
costs
$
10
$
1
$
11
$
52
$
7
$
59
Schedule of Restructuring Reserve by Segment
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2022 Plan
2024 Plan
Total
Balance, December 30, 2023
 
$
23
$
-
$
23
Restructuring costs
37
36
73
Non-cash accelerated depreciation and amortization
(7)
(4)
(11)
Cash payments and other adjustments
 
(35)
(7)
(42)
Balance, September 28, 2024
 
$
18
$
25
$
43
v3.24.3
Stock-Based Compensation (Tables)
 9 Months Ended
Sep. 28, 2024
Stock-Based Compensation [Abstract]  
Summary of Stock Option Activity Under the Plans
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Stock Options
Weighted Average
Weighted Average
Aggregate
Exercise
Remaining Contractual
 
 
Intrinsic
Shares
Price
Life (in years)
 
Value
Outstanding at beginning of period
 
1,078,459
$
71.46
 
Granted
 
-
 
-
 
Exercised
 
(48,842)
62.71
 
Forfeited
 
(10,980)
85.31
 
Outstanding at end of period
 
1,018,637
$
71.73
 
6.8
 
$
6
Options exercisable at end of period
 
887,589
$
69.70
Intrinsic Values
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted Average
Weighted Average
Aggregate
Number of
Exercise
Remaining Contractual
Intrinsic
Options
Price
Life (in years)
Value
Expected to vest
131,048
$
85.51
7.5
$
-
Status of Unvested RSUs
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Time-Based Restricted Stock Units
Performance-Based Restricted Stock Units
Weighted
 
Weighted
 
Average
 
Intrinsic
 
Average
 
Intrinsic
Grant Date Fair
Value
Grant Date Fair
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
 
465,339
75.83
329,118
76.70
Vested
 
(329,115)
63.00
(8,262)
66.53
Forfeited
 
(87,304)
77.19
(55,976)
79.69
Outstanding at end of period
 
1,704,313
$
72.92
$
73.22
473,622
$
75.91
$
73.22
v3.24.3
Redeemable Noncontrolling Interests (Tables)
 9 Months Ended
Sep. 28, 2024
Redeemable Noncontrolling Interests [Abstract]  
Components of the Change in Redeemable Noncontrolling Interests
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
September 28,
December 30,
2024
2023
Balance, beginning of period
 
$
864
$
576
Decrease in redeemable noncontrolling interests due to acquisitions of
 
 
noncontrolling interests in subsidiaries
(257)
(19)
Increase in redeemable noncontrolling interests due to business acquisitions
172
326
Net income attributable to redeemable noncontrolling interests
 
-
6
Distributions declared, net of capital contributions
(30)
(19)
Effect of foreign currency translation gain (loss) attributable to
 
redeemable noncontrolling interests
 
(4)
5
Change in fair value of redeemable securities
 
87
(11)
Balance, end of period
 
$
832
$
864
v3.24.3
Comprehensive Income (Tables)
 9 Months Ended
Sep. 28, 2024
Comprehensive Income [Abstract]  
Accumulated Other Comprehensive Loss Net of Applicable Taxes
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
September 28,
December 30,
2024
2023
Attributable to redeemable noncontrolling interests:
Foreign currency translation adjustment
 
$
(36)
$
(32)
Attributable to noncontrolling interests:
Foreign currency translation adjustment
 
$
-
$
(1)
Attributable to Henry Schein, Inc.:
Foreign currency translation adjustment
$
(243)
$
(188)
Unrealized gain loss from hedging activities
 
(16)
(13)
Pension adjustment loss
 
(5)
(5)
Accumulated other comprehensive loss
 
$
(264)
$
(206)
Total Accumulated
 
other comprehensive loss
 
$
(300)
$
(239)
Components of Comprehensive Income, Net of Applicable Taxes
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
Nine Months Ended
September 28,
September 30,
September 28,
September 30,
2024
2023
2024
2023
Net income
$
99
$
143
$
302
$
419
Foreign currency translation gain (loss)
58
(45)
(58)
(17)
Tax effect
 
-
-
-
-
Foreign currency translation gain (loss)
58
(45)
(58)
(17)
Unrealized gain (loss) from hedging activities
(25)
9
(4)
3
Tax effect
 
7
(3)
1
(1)
Unrealized gain (loss) from hedging activities
(18)
6
(3)
2
Comprehensive income
 
$
139
$
104
$
241
$
404
Total Comprehensive Income, Net of Applicable Taxes
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
Nine Months Ended
September 28,
September 30,
September 28,
September 30,
2024
2023
2024
2023
Comprehensive income attributable to
Henry Schein, Inc.
 
$
127
$
100
$
238
$
384
Comprehensive income attributable to
noncontrolling interests
 
-
4
7
10
Comprehensive income (loss) attributable to
Redeemable noncontrolling interests
 
12
-
(4)
10
Comprehensive income
 
$
139
$
104
$
241
$
404
v3.24.3
Earnings Per Share (Tables)
 9 Months Ended
Sep. 28, 2024
Earnings Per Share [Abstract]  
Reconciliation of Shares used in Calculating Earnings per Share Basic and Diluted
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
Nine Months Ended
September 28,
September 30,
September 28,
September 30,
2024
2023
2024
2023
Basic
 
126,124,715
130,388,353
127,550,045
130,888,717
Effect of dilutive securities:
Stock options and restricted stock units
 
930,219
1,053,782
948,449
1,260,455
Diluted
 
127,054,934
131,442,135
128,498,494
132,149,172
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
Nine Months Ended
September 28,
September 30,
September 28,
September 30,
2024
2023
2024
2023
Stock options
412,574
424,005
416,065
426,237
Restricted stock units
17,627
7,362
16,339
15,072
Total anti-dilutive
 
securities excluded from earnings per
share computation
430,201
431,367
432,404
441,309
v3.24.3
Supplemental Cash Flow Information (Tables)
 9 Months Ended
Sep. 28, 2024
Supplemental Cash Flow information [Abstract]  
Cash paid for interest and income taxes
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Nine Months Ended
September 28,
September 30,
2024
2023
Interest
$
92
$
52
Income taxes
127
178
v3.24.3
Basis of Presentation - Narrative (Details) - Variable Interest Entity, Primary Beneficiary [Member] - USD ($)
$ in Millions
Sep. 28, 2024
Dec. 30, 2023
Asset Pledged as Collateral [Member]    
Pledged assets $ 341 $ 284
Recourse [Member]    
Liabilities of VIE $ 210 $ 210
v3.24.3
Cybersecurity Incident - Narrative (Details) - Cyber Incident [Member] - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 28, 2024
Sep. 28, 2024
Unusual or Infrequent Item, or Both [Line Items]    
Expenses related to cybersecurity incident $ 1 $ 9
Insurance proceeds related to cybersecurity incident $ 10 20
Insurance policy limitations   60
Insurance retention   $ 5
v3.24.3
Net Sales from Contracts with Customers - Narrative (Details) - USD ($)
$ in Millions
 9 Months Ended
Sep. 28, 2024
Sep. 30, 2023
Dec. 30, 2023
Dec. 31, 2022
Net Sales from Contracts with Customers [Abstract]        
Contract with Customer, Liability, Current $ 76   $ 89 $ 86
Contract with Customer, Liability, Noncurrent 8   $ 9 $ 8
Contract with Customer, Liability, Revenue Recognized $ 72 $ 70    
v3.24.3
Net Sales from Contracts with Customers - Disaggregation of Revenue (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 28, 2024
Sep. 30, 2023
Sep. 28, 2024
Sep. 30, 2023
Disaggregation of Revenue [Abstract]        
Net sales $ 3,174 $ 3,162 $ 9,482 $ 9,322
North America [Member]        
Disaggregation of Revenue [Abstract]        
Net sales 2,355 2,363 6,946 6,886
International [Member]        
Disaggregation of Revenue [Abstract]        
Net sales 819 799 2,536 2,436
Health Care Distribution [Member]        
Disaggregation of Revenue [Abstract]        
Net sales 2,953 2,952 8,830 8,728
Health Care Distribution [Member] | North America [Member]        
Disaggregation of Revenue [Abstract]        
Net sales 2,165 2,178 6,381 6,367
Health Care Distribution [Member] | International [Member]        
Disaggregation of Revenue [Abstract]        
Net sales 788 774 2,449 2,361
Health Care Distribution [Member] | Dental [Member]        
Disaggregation of Revenue [Abstract]        
Net sales 1,852 1,882 5,690 5,737
Health Care Distribution [Member] | Dental [Member] | North America [Member]        
Disaggregation of Revenue [Abstract]        
Net sales 1,089 1,134 3,321 3,447
Health Care Distribution [Member] | Dental [Member] | International [Member]        
Disaggregation of Revenue [Abstract]        
Net sales 763 748 2,369 2,290
Health Care Distribution [Member] | Medical [Member]        
Disaggregation of Revenue [Abstract]        
Net sales 1,101 1,070 3,140 2,991
Health Care Distribution [Member] | Medical [Member] | North America [Member]        
Disaggregation of Revenue [Abstract]        
Net sales 1,076 1,044 3,060 2,920
Health Care Distribution [Member] | Medical [Member] | International [Member]        
Disaggregation of Revenue [Abstract]        
Net sales 25 26 80 71
Technology and Value-Added Services [Member]        
Disaggregation of Revenue [Abstract]        
Net sales 221 210 652 594
Technology and Value-Added Services [Member] | North America [Member]        
Disaggregation of Revenue [Abstract]        
Net sales 190 185 565 519
Technology and Value-Added Services [Member] | International [Member]        
Disaggregation of Revenue [Abstract]        
Net sales $ 31 $ 25 $ 87 $ 75
v3.24.3
Segment Data (Details)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 28, 2024
USD ($)
countries
Sep. 30, 2023
USD ($)
Sep. 28, 2024
USD ($)
segments
countries
Sep. 30, 2023
USD ($)
Segment Data [Abstract]        
Number of reportable segments | segments     2  
Segment Reporting Information [Line Items]        
Net sales $ 3,174 $ 3,162 $ 9,482 $ 9,322
Operating income 157 200 466 576
Health Care Distribution [Member]        
Segment Reporting Information [Line Items]        
Net sales 2,953 2,952 8,830 8,728
Operating income $ 118 160 $ 390 471
Number of countries served globally | countries 33   33  
Health Care Distribution [Member] | Dental [Member]        
Segment Reporting Information [Line Items]        
Net sales $ 1,852 1,882 $ 5,690 5,737
Health Care Distribution [Member] | Medical [Member]        
Segment Reporting Information [Line Items]        
Net sales 1,101 1,070 3,140 2,991
Technology and Value-Added Services [Member]        
Segment Reporting Information [Line Items]        
Net sales 221 210 652 594
Operating income $ 39 $ 40 $ 76 $ 105
v3.24.3
Business Acquisitions - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Apr. 01, 2024
Oct. 02, 2023
Jul. 05, 2023
Apr. 05, 2023
Sep. 28, 2024
Sep. 30, 2023
Sep. 28, 2024
Sep. 28, 2024
Jun. 29, 2024
Sep. 30, 2023
Jun. 29, 2024
Mar. 30, 2024
Dec. 30, 2023
Business Acquisition [Line Items]                          
Goodwill         $ 3,986   $ 3,986 $ 3,986         $ 3,875
Acquisition costs incurred         2 $ 6   5   $ 18      
TriMed, Inc. [Member]                          
Business Acquisition [Line Items]                          
Percentage of voting interest acquired 60.00%                        
Total consideration $ 316                        
Consideration paid 141                        
Deferred consideration 22                        
Redeemable noncontrolling interests 153                        
Goodwill 126                        
Intangible assets $ 221                        
TriMed, Inc. [Member] | Product Development [Member]                          
Business Acquisition [Line Items]                          
Estimated useful lives (in years)             9 years            
TriMed, Inc. [Member] | Trademarks And Trade Names [Member]                          
Business Acquisition [Line Items]                          
Estimated useful lives (in years)             7 years            
Shield Healthcare, Inc. [Member]                          
Business Acquisition [Line Items]                          
Percentage of voting interest acquired   90.00%                      
Total consideration   $ 348             $ 348        
Consideration paid   289             289        
Deferred consideration   22             22        
Redeemable noncontrolling interests   $ 37             37        
Goodwill                 199   $ 199    
Intangible assets                 $ 166   166    
Shield Healthcare, Inc. [Member] | Customer Relationships and Lists [Member]                          
Business Acquisition [Line Items]                          
Estimated useful lives (in years)                 12 years        
Shield Healthcare, Inc. [Member] | Trademarks And Trade Names [Member]                          
Business Acquisition [Line Items]                          
Estimated useful lives (in years)                 5 years        
S.I.N. Implant System [Member]                          
Business Acquisition [Line Items]                          
Percentage of voting interest acquired     100.00%                    
Total consideration     $ 329               329    
Consideration paid                     329    
Goodwill                 $ 241   241    
Intangible assets                 $ 87   $ 87    
S.I.N. Implant System [Member] | Customer Relationships and Lists [Member]                          
Business Acquisition [Line Items]                          
Estimated useful lives (in years)     7 years                    
S.I.N. Implant System [Member] | Product Development [Member]                          
Business Acquisition [Line Items]                          
Estimated useful lives (in years)     8 years                    
S.I.N. Implant System [Member] | Trademarks And Trade Names [Member]                          
Business Acquisition [Line Items]                          
Estimated useful lives (in years)     10 years                    
Biotech Dental [Member]                          
Business Acquisition [Line Items]                          
Percentage of voting interest acquired       57.00%                  
Total consideration       $ 423               $ 423  
Consideration paid       216               216  
Fair value of contributed equity share in a controlled subsidiary       25               25  
Redeemable noncontrolling interests       $ 182               182  
Goodwill                       297  
Intangible assets                       $ 189  
Biotech Dental [Member] | Customer Relationships and Lists [Member]                          
Business Acquisition [Line Items]                          
Estimated useful lives (in years)                       9 years  
Biotech Dental [Member] | Product Development [Member]                          
Business Acquisition [Line Items]                          
Estimated useful lives (in years)                       10 years  
Biotech Dental [Member] | Trademarks And Trade Names [Member]                          
Business Acquisition [Line Items]                          
Estimated useful lives (in years)                       7 years  
Series Of Individually Immaterial Business Acquisitions [Member]                          
Business Acquisition [Line Items]                          
Total consideration               113          
Goodwill         59   $ 59 59          
Intangible assets         64   64 64          
Recognized gain related to remeasurement to fair value of previously held equity investment         19     19          
Series Of Individually Immaterial Business Acquisitions [Member] | Customer Relationships and Lists [Member]                          
Business Acquisition [Line Items]                          
Intangible assets         33   33 $ 33          
Estimated useful lives (in years)               11 years          
Series Of Individually Immaterial Business Acquisitions [Member] | Product Development [Member]                          
Business Acquisition [Line Items]                          
Intangible assets         5   5 $ 5          
Estimated useful lives (in years)               9 years          
Series Of Individually Immaterial Business Acquisitions [Member] | Non-compete Agreements [Member]                          
Business Acquisition [Line Items]                          
Intangible assets         2   2 $ 2          
Estimated useful lives (in years)               5 years          
Series Of Individually Immaterial Business Acquisitions [Member] | Trademarks And Trade Names [Member]                          
Business Acquisition [Line Items]                          
Intangible assets         $ 24   $ 24 $ 24          
Estimated useful lives (in years)               7 years          
Series Of Individually Immaterial Business Acquisitions [Member] | Minimum [Member]                          
Business Acquisition [Line Items]                          
Percentage of voting interest acquired         51.00%   51.00% 51.00%         51.00%
Series Of Individually Immaterial Business Acquisitions [Member] | Maximum [Member]                          
Business Acquisition [Line Items]                          
Percentage of voting interest acquired         100.00%   100.00% 100.00%         100.00%
Other 2023 Acquisitions [Member]                          
Business Acquisition [Line Items]                          
Change in fair value of contingent consideration         $ 0     $ 38          
v3.24.3
Business Acquisitions - Summary of Estimated Fair Value of Consideration Paid and Net Assets Acquired (Details) - USD ($)
$ in Millions
 9 Months Ended 12 Months Ended
Apr. 01, 2024
Oct. 02, 2023
Jul. 05, 2023
Apr. 05, 2023
Jun. 29, 2024
Jun. 29, 2024
Mar. 30, 2024
Sep. 28, 2024
Dec. 30, 2023
Identifiable assets acquired and liabilities assumed:                  
Goodwill               $ 3,986 $ 3,875
TriMed, Inc. [Member]                  
Acquisition consideration:                  
Cash $ 141                
Deferred consideration 22                
Redeemable noncontrolling interests 153                
Total consideration 316                
Identifiable assets acquired and liabilities assumed:                  
Current assets 36                
Intangible assets 221                
Other noncurrent assets 10                
Current liabilities (9)                
Deferred income taxes (62)                
Other noncurrent liabilities (6)                
Total identifiable net assets 190                
Goodwill 126                
Total net assets acquired $ 316                
Shield Healthcare, Inc. [Member]                  
Acquisition consideration:                  
Cash   $ 289     $ 289        
Deferred consideration   22     22        
Redeemable noncontrolling interests   37     37        
Total consideration   $ 348     348        
Identifiable assets acquired and liabilities assumed:                  
Current assets         41 $ 41      
Intangible assets         166 166      
Other noncurrent assets         16 16      
Current liabilities         (24) (24)      
Deferred income taxes         (43) (43)      
Other noncurrent liabilities         (7) (7)      
Total identifiable net assets         149 149      
Goodwill         199 199      
Total net assets acquired         348 348      
S.I.N. Implant System [Member]                  
Acquisition consideration:                  
Cash           329      
Total consideration     $ 329     329      
Identifiable assets acquired and liabilities assumed:                  
Current assets         73 73      
Intangible assets         87 87      
Other noncurrent assets         48 48      
Current liabilities         (33) (33)      
Long-term debt         (22) (22)      
Deferred income taxes         (38) (38)      
Other noncurrent liabilities         (27) (27)      
Total identifiable net assets         88 88      
Goodwill         241 241      
Total net assets acquired         $ 329 $ 329      
Biotech Dental [Member]                  
Acquisition consideration:                  
Cash       $ 216     $ 216    
Fair value of contributed equity share in a controlled subsidiary       25     25    
Redeemable noncontrolling interests       182     182    
Total consideration       $ 423     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    
v3.24.3
Business Acquisitions - Summary of Identifiable Intangible Assets Acquired and Estimated Useful Lives (Details) - USD ($)
$ in Millions
 6 Months Ended 9 Months Ended 12 Months Ended
Jul. 05, 2023
Sep. 28, 2024
Jun. 29, 2024
Jun. 29, 2024
Mar. 30, 2024
TriMed, Inc. [Member]          
Business Acquisition [Line Items]          
Identifiable intangible assets acquired   $ 221      
TriMed, Inc. [Member] | Product Development [Member]          
Business Acquisition [Line Items]          
Identifiable intangible assets acquired   $ 204      
Estimated useful lives (in years)   9 years      
TriMed, Inc. [Member] | Trademarks/Tradenames [Member]          
Business Acquisition [Line Items]          
Identifiable intangible assets acquired   $ 9      
Estimated useful lives (in years)   7 years      
TriMed, Inc. [Member] | In Process Research And Development [Member]          
Business Acquisition [Line Items]          
Identifiable intangible assets acquired   $ 8      
Shield Healthcare, Inc. [Member]          
Business Acquisition [Line Items]          
Identifiable intangible assets acquired     $ 166    
Shield Healthcare, Inc. [Member] | Customer Relationships and Lists [Member]          
Business Acquisition [Line Items]          
Identifiable intangible assets acquired     $ 156    
Estimated useful lives (in years)     12 years    
Shield Healthcare, Inc. [Member] | Trademarks/Tradenames [Member]          
Business Acquisition [Line Items]          
Identifiable intangible assets acquired     $ 10    
Estimated useful lives (in years)     5 years    
S.I.N. Implant System [Member]          
Business Acquisition [Line Items]          
Identifiable intangible assets acquired       $ 87  
S.I.N. Implant System [Member] | Customer Relationships and Lists [Member]          
Business Acquisition [Line Items]          
Identifiable intangible assets acquired       38  
Estimated useful lives (in years) 7 years        
S.I.N. Implant System [Member] | Product Development [Member]          
Business Acquisition [Line Items]          
Identifiable intangible assets acquired       36  
Estimated useful lives (in years) 8 years        
S.I.N. Implant System [Member] | Trademarks/Tradenames [Member]          
Business Acquisition [Line Items]          
Identifiable intangible assets acquired       $ 13  
Estimated useful lives (in years) 10 years        
Biotech Dental [Member]          
Business Acquisition [Line Items]          
Identifiable intangible assets acquired         $ 189
Biotech Dental [Member] | Customer Relationships and Lists [Member]          
Business Acquisition [Line Items]          
Identifiable intangible assets acquired         $ 47
Estimated useful lives (in years)         9 years
Biotech Dental [Member] | Product Development [Member]          
Business Acquisition [Line Items]          
Identifiable intangible assets acquired         $ 124
Estimated useful lives (in years)         10 years
Biotech Dental [Member] | Trademarks/Tradenames [Member]          
Business Acquisition [Line Items]          
Identifiable intangible assets acquired         $ 18
Estimated useful lives (in years)         7 years
v3.24.3
Fair Value Measurements - Narrative (Details) - USD ($)
$ in Millions
Sep. 28, 2024
Dec. 30, 2023
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair value of debt (including bank credit lines) $ 2,653 $ 2,351
v3.24.3
Fair Value Measurements - Assets and Liabilities Measured and Recognized on a Recurring Basis (Details) - USD ($)
$ in Millions
Sep. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Attributable To Redeemable Noncontrolling Interests [Abstract]      
Redeemable noncontrolling interests $ 832 $ 864 $ 576
Fair value, measurements, recurring [Member]      
Assets [Abstract]      
Total return swaps 2 4  
Total assets 4 6  
Liabilities [Abstract]      
Contingent consideration 49    
Total liabilities 70 20  
Attributable To Redeemable Noncontrolling Interests [Abstract]      
Redeemable noncontrolling interests 832 864  
Fair value, measurements, recurring [Member] | Derivative contracts designated as hedges [Member]      
Assets [Abstract]      
Derivative contracts - assets 0 1  
Liabilities [Abstract]      
Derivative contracts - liabilities 18 18  
Fair value, measurements, recurring [Member] | Derivative contracts undesignated [Member]      
Assets [Abstract]      
Derivative contracts - assets 2 1  
Liabilities [Abstract]      
Derivative contracts - liabilities 3 2  
Fair value, measurements, recurring [Member] | Level 1 [Member]      
Assets [Abstract]      
Total return swaps 0 0  
Total assets 0 0  
Liabilities [Abstract]      
Contingent consideration 0    
Total liabilities 0 0  
Attributable To Redeemable Noncontrolling Interests [Abstract]      
Redeemable noncontrolling interests 0 0  
Fair value, measurements, recurring [Member] | Level 1 [Member] | Derivative contracts designated as hedges [Member]      
Assets [Abstract]      
Derivative contracts - assets 0 0  
Liabilities [Abstract]      
Derivative contracts - liabilities 0 0  
Fair value, measurements, recurring [Member] | Level 1 [Member] | Derivative contracts undesignated [Member]      
Assets [Abstract]      
Derivative contracts - assets 0 0  
Liabilities [Abstract]      
Derivative contracts - liabilities 0 0  
Fair value, measurements, recurring [Member] | Level 2 [Member]      
Assets [Abstract]      
Total return swaps 2 4  
Total assets 4 6  
Liabilities [Abstract]      
Contingent consideration 0    
Total liabilities 21 20  
Attributable To Redeemable Noncontrolling Interests [Abstract]      
Redeemable noncontrolling interests 0 0  
Fair value, measurements, recurring [Member] | Level 2 [Member] | Derivative contracts designated as hedges [Member]      
Assets [Abstract]      
Derivative contracts - assets 0 1  
Liabilities [Abstract]      
Derivative contracts - liabilities 18 18  
Fair value, measurements, recurring [Member] | Level 2 [Member] | Derivative contracts undesignated [Member]      
Assets [Abstract]      
Derivative contracts - assets 2 1  
Liabilities [Abstract]      
Derivative contracts - liabilities 3 2  
Fair value, measurements, recurring [Member] | Level 3 [Member]      
Assets [Abstract]      
Total return swaps 0 0  
Total assets 0 0  
Liabilities [Abstract]      
Contingent consideration 49    
Total liabilities 49 0  
Attributable To Redeemable Noncontrolling Interests [Abstract]      
Redeemable noncontrolling interests 832 864  
Fair value, measurements, recurring [Member] | Level 3 [Member] | Derivative contracts designated as hedges [Member]      
Assets [Abstract]      
Derivative contracts - assets 0 0  
Liabilities [Abstract]      
Derivative contracts - liabilities 0 0  
Fair value, measurements, recurring [Member] | Level 3 [Member] | Derivative contracts undesignated [Member]      
Assets [Abstract]      
Derivative contracts - assets 0 0  
Liabilities [Abstract]      
Derivative contracts - liabilities $ 0 $ 0  
v3.24.3
Debt - Revolving Credit Agreement Narrative (Details) - Revolving Credit Agreement [Member] - USD ($)
$ in Millions
 9 Months Ended 12 Months Ended
Aug. 20, 2021
Sep. 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  
Credit facility expiration date   Jul. 11, 2028  
Line of credit interest rate   4.96% 5.36%
Debt instrument, basis spread on variable rate   1.18% 1.00%
Line of credit combined interest rate   6.14% 6.36%
Borrowings   $ 50 $ 200
Outstanding letters of credit provided to third parties   11 $ 10
Average amount outstanding   $ 64  
v3.24.3
Debt - Other Short-Term Bank Credit Lines Narrative (Details) - USD ($)
$ in Millions
 9 Months Ended
Sep. 28, 2024
Dec. 30, 2023
Line of Credit Facility [Line Items]    
Bank credit lines $ 638 $ 264
Other Short-Term Credit Lines [Member]    
Line of Credit Facility [Line Items]    
Credit facility borrowing capacity 689 368
Bank credit lines $ 588 $ 64
Weighted average interest rate on borrowings under credit lines at period end 5.94% 6.02%
Average amount outstanding $ 426  
v3.24.3
Debt - Private Placement Facilities Narrative (Details) - Private Placement Facilities [Member]
 9 Months Ended
Sep. 28, 2024
USD ($)
Debt Instrument [Line Items]  
Number of companies included in private placement facilities 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 3.66%
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
v3.24.3
Debt - Term Loan Narrative (Details) - USD ($)
$ in Millions
 9 Months Ended 12 Months Ended
Sep. 28, 2024
Dec. 30, 2023
Term Credit Agreement [Member]    
Line of Credit Facility [Line Items]    
Debt face amount $ 750  
Debt term (in years) 3 years  
Long-term debt $ 722 $ 741
Debt instrument, interest rate, stated percentage 5.10% 5.36%
Debt instrument, basis spread on variable rate 1.60% 1.35%
Debt instrument, interest rate at period end 6.70% 6.71%
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, maturity date Jul. 11, 2026  
Term Credit Agreement [Member] | Interest Rate Swap [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  
September 2023 through June 2024 [Member]    
Line of Credit Facility [Line Items]    
Quarterly payments $ 5  
v3.24.3
Debt - U.S. Trade Accounts Receivable Securitization Narrative (Details) - U.S. Trade Accounts Receivable Securitization [Member]
$ in Millions
 9 Months Ended 12 Months Ended
Sep. 28, 2024
USD ($)
number
Dec. 30, 2023
USD ($)
Debt Instrument [Line Items]    
Pricing commitment period 3 years  
Debt instrument, maturity date Dec. 15, 2025  
Debt instrument maximum borrowing capacity $ 450  
Long-term debt $ 210 $ 210
Debt instrument, interest rate at period end 5.28% 5.67%
Debt instrument, basis spread on variable rate 0.75% 0.75%
Debt instrument, variable rate basis at period end 6.03% 6.42%
Debt Instrument Variable Interest Rate Type Extensible Enumeration Average Asset Backed Commercial Paper Rate [Member] Average Asset Backed Commercial Paper Rate [Member]
Number of banks as agents for debt instrument | number 2  
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  
v3.24.3
Debt - Schedule of Bank Credit Lines (Details) - USD ($)
$ in Millions
Sep. 28, 2024
Dec. 30, 2023
Line of Credit Facility [Line Items]    
Bank Credit lines $ 638 $ 264
Revolving Credit Agreement [Member]    
Line of Credit Facility [Line Items]    
Bank Credit lines 50 200
Other Short-Term Credit Lines [Member]    
Line of Credit Facility [Line Items]    
Bank Credit lines $ 588 $ 64
v3.24.3
Debt - Schedule of Long-term Debt (Details) - USD ($)
$ in Millions
Sep. 28, 2024
Dec. 30, 2023
Debt Instrument [Line Items]    
Finance lease obligations $ 7 $ 8
Total 2,015 2,087
Less current maturities (109) (150)
Long-term debt [1] 1,906 1,937
Term Credit Agreement [Member]    
Debt Instrument [Line Items]    
Long-term debt $ 722 $ 741
Borrowing Rate 5.10% 5.36%
Private Placement Facilities [Member]    
Debt Instrument [Line Items]    
Long-term debt $ 1,024 $ 1,074
U.S. Trade Accounts Receivable Securitization [Member]    
Debt Instrument [Line Items]    
Long-term debt 210 210
Various collateralized and uncollateralized loans payable with interest, in varying installments through 2031 at interest rates from 0.00% to 9.42% at September 28, 2024 and from 0.00% to 9.42% at December 30, 2023 [Member]    
Debt Instrument [Line Items]    
Long-term debt $ 52 $ 54
Various collateralized and uncollateralized loans payable with interest, in varying installments through 2031 at interest rates from 0.00% to 9.42% at September 28, 2024 and from 0.00% to 9.42% at December 30, 2023 [Member] | Minimum [Member]    
Debt Instrument [Line Items]    
Borrowing Rate 0.00% 0.00%
Various collateralized and uncollateralized loans payable with interest, in varying installments through 2031 at interest rates from 0.00% to 9.42% at September 28, 2024 and from 0.00% to 9.42% at December 30, 2023 [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 September 28, 2024 and
December 30, 2023, includes trade accounts receivable of $
341
 
million and $
284
 
million, respectively, and long-term debt of $
210
million and $
210
 
million, respectively.
v3.24.3
Debt - Schedule of Private Placement Facility Borrowings (Details) - Private Placement Facilities [Member] - USD ($)
$ in Millions
 9 Months Ended
Sep. 28, 2024
Dec. 30, 2023
Debt Instrument [Line Items]    
Less: Deferred debt issuance costs $ (1)  
Total $ 1,024 $ 1,074
Debt Instrument, Maturity Date Oct. 20, 2026  
Private Placement Facilities 1 [Member]    
Debt Instrument [Line Items]    
Debt Instrument, Issuance Date Dec. 24, 2012  
Long-term Debt, Gross $ 50  
Borrowing Rate 3.00%  
Debt Instrument, Maturity Date Dec. 24, 2024  
Private Placement Facilities 2 [Member]    
Debt Instrument [Line Items]    
Debt Instrument, Issuance Date Jun. 16, 2017  
Long-term Debt, Gross $ 100  
Borrowing Rate 3.42%  
Debt Instrument, Maturity Date Jun. 16, 2027  
Private Placement Facilities 3 [Member]    
Debt Instrument [Line Items]    
Debt Instrument, Issuance Date Sep. 15, 2017  
Long-term Debt, Gross $ 100  
Borrowing Rate 3.52%  
Debt Instrument, Maturity Date Sep. 15, 2029  
Private Placement Facilities 4 [Member]    
Debt Instrument [Line Items]    
Debt Instrument, Issuance Date Jan. 02, 2018  
Long-term Debt, Gross $ 100  
Borrowing Rate 3.32%  
Debt Instrument, Maturity Date Jan. 02, 2028  
Private Placement facilities 5 [Member]    
Debt Instrument [Line Items]    
Debt Instrument, Issuance Date Sep. 02, 2020  
Long-term Debt, Gross $ 100  
Borrowing Rate 2.35%  
Debt Instrument, Maturity Date Sep. 02, 2030  
Private Placement Facilities 6 [Member]    
Debt Instrument [Line Items]    
Debt Instrument, Issuance Date Jun. 02, 2021  
Long-term Debt, Gross $ 100  
Borrowing Rate 2.48%  
Debt Instrument, Maturity Date Jun. 02, 2031  
Private Placement Facilities 7 [Member]    
Debt Instrument [Line Items]    
Debt Instrument, Issuance Date Jun. 02, 2021  
Long-term Debt, Gross $ 100  
Borrowing Rate 2.58%  
Debt Instrument, Maturity Date Jun. 02, 2033  
Private Placement Facilities 8 [Member]    
Debt Instrument [Line Items]    
Debt Instrument, Issuance Date May 04, 2023  
Long-term Debt, Gross $ 75  
Borrowing Rate 4.79%  
Debt Instrument, Maturity Date May 04, 2028  
Private Placement Facilities 9 [Member]    
Debt Instrument [Line Items]    
Debt Instrument, Issuance Date May 04, 2023  
Long-term Debt, Gross $ 75  
Borrowing Rate 4.84%  
Debt Instrument, Maturity Date May 04, 2030  
Private Placement Facilities 10 [Member]    
Debt Instrument [Line Items]    
Debt Instrument, Issuance Date May 04, 2023  
Long-term Debt, Gross $ 75  
Borrowing Rate 4.96%  
Debt Instrument, Maturity Date May 04, 2033  
Private Placement Facilities 11 [Member]    
Debt Instrument [Line Items]    
Debt Instrument, Issuance Date May 04, 2023  
Long-term Debt, Gross $ 150  
Borrowing Rate 4.94%  
Debt Instrument, Maturity Date May 04, 2033  
v3.24.3
Income Taxes - Narrative (Details) - USD ($)
$ in Millions
 9 Months Ended
Sep. 28, 2024
Sep. 30, 2023
Dec. 30, 2023
Income Tax Examination [Line Items]      
Effective tax rate 25.10% 22.50%  
Tax interest expense (credit) $ 1 $ 3  
Other Liabilities [Member]      
Income Tax Examination [Line Items]      
Unrecognized tax benefits 107   $ 115
Unrecognized tax benefits that would affect the effective tax rate if recognized 99   107
Total interest $ 18   $ 16
v3.24.3
Plans of Restructuring - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 28, 2024
Sep. 30, 2023
Sep. 28, 2024
Sep. 30, 2023
Restructuring Cost and Reserve [Line Items]        
Restructuring costs $ 48 $ 11 $ 73 $ 59
2022 Plan [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring costs 12 $ 11 37 $ 59
2024 Plan [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring costs $ 36   $ 36  
v3.24.3
Plans of Restructuring - Schedule of Restructuring Costs and Integration Costs (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 28, 2024
Sep. 30, 2023
Sep. 28, 2024
Sep. 30, 2023
Restructuring Cost and Reserve [Line Items]        
Restructuring Costs $ 48 $ 11 $ 73 $ 59
Health Care Distribution [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring Costs 38   61  
Technology and Value-Added Services [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring Costs 10   12  
2024 Plan [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring Costs 36   36  
2024 Plan [Member] | Severance and Employee-Related Costs [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring Costs 31   31  
2024 Plan [Member] | Accelerated Depreciation and Amortization [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring Costs 4   4  
2024 Plan [Member] | Exit and Other Related Costs [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring Costs 1   1  
2024 Plan [Member] | Health Care Distribution [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring Costs 29   29  
2024 Plan [Member] | Health Care Distribution [Member] | Severance and Employee-Related Costs [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring Costs 26   26  
2024 Plan [Member] | Health Care Distribution [Member] | Accelerated Depreciation and Amortization [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring Costs 2   2  
2024 Plan [Member] | Health Care Distribution [Member] | Exit and Other Related Costs [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring Costs 1   1  
2024 Plan [Member] | Technology and Value-Added Services [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring Costs 7   7  
2024 Plan [Member] | Technology and Value-Added Services [Member] | Severance and Employee-Related Costs [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring Costs 5   5  
2024 Plan [Member] | Technology and Value-Added Services [Member] | Accelerated Depreciation and Amortization [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring Costs 2   2  
2024 Plan [Member] | Technology and Value-Added Services [Member] | Exit and Other Related Costs [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring Costs 0   0  
2022 Plan [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring Costs 12 11 37 59
2022 Plan [Member] | Severance and Employee-Related Costs [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring Costs 8 6 24 40
2022 Plan [Member] | Accelerated Depreciation and Amortization [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring Costs 1 4 7 14
2022 Plan [Member] | Exit and Other Related Costs [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring Costs 3 1 6 4
2022 Plan [Member] | Disposal of Business [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring Costs   0   1
2022 Plan [Member] | Health Care Distribution [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring Costs 9 10 32 52
2022 Plan [Member] | Health Care Distribution [Member] | Severance and Employee-Related Costs [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring Costs 7 6 21 36
2022 Plan [Member] | Health Care Distribution [Member] | Accelerated Depreciation and Amortization [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring Costs 1 3 7 12
2022 Plan [Member] | Health Care Distribution [Member] | Exit and Other Related Costs [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring Costs 1 1 4 3
2022 Plan [Member] | Health Care Distribution [Member] | Disposal of Business [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring Costs   0   1
2022 Plan [Member] | Technology and Value-Added Services [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring Costs 3 1 5 7
2022 Plan [Member] | Technology and Value-Added Services [Member] | Severance and Employee-Related Costs [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring Costs 1 0 3 4
2022 Plan [Member] | Technology and Value-Added Services [Member] | Accelerated Depreciation and Amortization [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring Costs 0 1 0 2
2022 Plan [Member] | Technology and Value-Added Services [Member] | Exit and Other Related Costs [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring Costs $ 2 0 $ 2 1
2022 Plan [Member] | Technology and Value-Added Services [Member] | Disposal of Business [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring Costs   $ 0   $ 0
v3.24.3
Plans of Restructuring - Schedule of Restructuring Reserve by Segment (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 28, 2024
Sep. 30, 2023
Sep. 28, 2024
Sep. 30, 2023
Restructuring Cost and Reserve [Line Items]        
Balance, beginning     $ 23  
Restructuring costs $ 48 $ 11 73 $ 59
Non-cash accelerated depreciation and amortization     (11) (13)
Cash payments and other adjustments     (42)  
Balance, ending 43   43  
2022 Plan [Member]        
Restructuring Cost and Reserve [Line Items]        
Balance, beginning     23  
Restructuring costs 12 $ 11 37 $ 59
Non-cash accelerated depreciation and amortization     (7)  
Cash payments and other adjustments     (35)  
Balance, ending 18   18  
2024 Plan [Member]        
Restructuring Cost and Reserve [Line Items]        
Balance, beginning     0  
Restructuring costs 36   36  
Non-cash accelerated depreciation and amortization     (4)  
Cash payments and other adjustments     (7)  
Balance, ending $ 25   $ 25  
v3.24.3
Legal Proceedings - Narrative (Details)
$ in Millions
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 28, 2024
USD ($)
claims
Sep. 30, 2023
USD ($)
Sep. 28, 2024
USD ($)
claims
Sep. 30, 2023
USD ($)
Dec. 30, 2023
USD ($)
Loss Contingency, Information about Litigation Matters [Abstract]          
Revenues $ 3,174.0 $ 3,162.0 $ 9,482.0 $ 9,322.0  
Maximum [Member]          
Loss Contingency, Information about Litigation Matters [Abstract]          
Loss Contingency, Pending Claims, Number | claims 175   175    
Actions Consolidated in the MultiDistrict Litigation [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]          
Revenues         $ 12,300.0
Other Hospitals Located throughout Florida [Member]          
Loss Contingency, Information about Litigation Matters [Abstract]          
Number of plaintiffs     25    
Cruz-Bermudez Action [Member]          
Loss Contingency, Information about Litigation Matters [Abstract]          
Litigation Settlement, Amount Awarded to Other Party $ 2.9        
v3.24.3
Stock-Based Compensation - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 28, 2024
Sep. 30, 2023
Sep. 28, 2024
Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Weighted-average period of recognition for unrecognized compensation costs on nonvested awards (in years)     2 years 7 months 6 days  
Grants in period (in shares)     0  
Total unrecognized compensation cost related to non-vested awards $ 83   $ 83  
Pre-tax share-based compensation (Credit) expense $ 10 $ 14 $ 30 $ 38
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  
Time-Based Restricted Stock/Restricted Units [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Number of years for full vesting (in years)     4 years  
Time-Based Restricted Stock/Restricted Units [Member] | 2015 Non-Employee Director Stock Incentive Plan [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Number of years for full vesting (in years)     12 months  
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  
v3.24.3
Stock-Based Compensation - Summary of Stock Option Activity under the Plans (Details) - USD ($)
$ / shares in Units, $ in Millions
 9 Months Ended
Sep. 28, 2024
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]  
Outstanding at beginning of period (in shares) 1,078,459
Exercised (in shares) (48,842)
Forfeited (in shares) (10,980)
Outstanding at end of period (in shares) 1,018,637
Weighted Average Exercise Price Per Share [Abstract]  
Outstanding at beginning of period (in dollars per share) $ 71.46
Exercised (in dollars per share) 62.71
Forfeited (in dollars per share) 85.31
Outstanding at end of period (in dollars per share) $ 71.73
Outstanding at end of period, Weighted Average Remaining Contractual Life in Years 6 years 9 months 18 days
Outstanding at end of period, Aggregate Intrinsic Value $ 6
Options exercisable (in shares) 887,589
Weighted average exercise price, options exercisable (in dollars per share) $ 69.70
v3.24.3
Stock-Based Compensation - Intrinsic Values (Details)
$ / shares in Units, $ in Millions
 9 Months Ended
Sep. 28, 2024
USD ($)
$ / shares
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Number of Options | shares 131,048
Weighted Average Exercise Price | $ / shares $ 85.51
Weighted Average Remaining Contractual Life (in years) 7 years 6 months
Aggregate Intrinsic Value | $ $ 0
v3.24.3
Stock-Based Compensation - Status of Unvested RSUs (Details)
 9 Months Ended
Sep. 28, 2024
$ / shares
shares
Time-Based Restricted Stock/Restricted 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 465,339
Vested (in shares) | shares (329,115)
Forfeited (in shares) | shares (87,304)
Ending balance outstanding (in shares) | shares 1,704,313
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) 75.83
Vested (in dollars per share) 63.00
Forfeited (in dollars per share) 77.19
Ending balance outstanding (in dollars per share) 72.92
Aggregate intrinsic value $ 73.22
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 329,118
Vested (in shares) | shares (8,262)
Forfeited (in shares) | shares (55,976)
Ending balance outstanding (in shares) | shares 473,622
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) 76.70
Vested (in dollars per share) 66.53
Forfeited (in dollars per share) 79.69
Ending balance outstanding (in dollars per share) 75.91
Aggregate intrinsic value $ 73.22
v3.24.3
Redeemable Noncontrolling Interests - Components of the Change in Redeemable Noncontrolling Interests (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 28, 2024
Sep. 30, 2023
Sep. 28, 2024
Sep. 30, 2023
Dec. 30, 2023
Components of the change in the redeemable noncontrolling interests [Abstract]          
Balance, beginning of period     $ 864 $ 576 $ 576
Decrease in redeemable noncontrolling interests due to acquisitions of noncontrolling interests in subsidiaries     (257)   (19)
Increase in redeemable noncontrolling interests due to business acquisitions     172   326
Net income (loss) attributable to redeemable noncontrolling interests $ (1) $ 2 0 11 6
Distributions declared, net of capital contributions     (30)   (19)
Effect of foreign currency translation gain (loss) attributable to redeemable noncontrolling interests 11 $ (2) (4) $ (1) 5
Change in fair value of redeemable securities     87   (11)
Balance, end of period $ 832   $ 832   $ 864
v3.24.3
Comprehensive Income - Accumulated Other Comprehensive Income and Comprehensive Income Components (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 28, 2024
Sep. 30, 2023
Sep. 28, 2024
Sep. 30, 2023
Dec. 30, 2023
Attributable to Redeemable noncontrolling interests:          
Foreign currency translation adjustment $ (36)   $ (36)   $ (32)
Attributable to noncontrolling interests:          
Foreign currency translation adjustment 0   0   (1)
Attributable to Henry Schein, Inc.:          
Foreign currency translation adjustment (243)   (243)   (188)
Unrealized gain (loss) from hedging activities (16)   (16)   (13)
Pension adjustment loss (5)   (5)   (5)
Accumulated other comprehensive loss (264)   (264)   (206)
Total Accumulated other comprehensive loss (300)   (300)   $ (239)
Components of Comprehensive Income          
Net Income (loss) 99 $ 143 302 $ 419  
Foreign currency translation gain (loss) 58 (45) (58) (17)  
Tax effect 0 0 0 0  
Foreign currency translation gain (loss) 58 (45) (58) (17)  
Unrealized gain (loss) from hedging activities (25) 9 (4) 3  
Tax effect 7 (3) 1 (1)  
Unrealized gain (loss) from hedging activities (18) 6 (3) 2  
Comprehensive income $ 139 $ 104 $ 241 $ 404  
v3.24.3
Comprehensive Income - Total Comprehensive Income, Net of Applicable Taxes (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 28, 2024
Sep. 30, 2023
Sep. 28, 2024
Sep. 30, 2023
Comprehensive Income Net Of Applicable Taxes [Abstract]        
Comprehensive income attributable to Henry Schein, Inc. $ 127 $ 100 $ 238 $ 384
Comprehensive income attributable to noncontrolling interests 0 4 7 10
Comprehensive income (loss) attributable to Redeemable noncontrolling interests 12 0 (4) 10
Comprehensive income $ 139 $ 104 $ 241 $ 404
v3.24.3
Earnings Per Share - Reconciliation of Shares used in Calculating Earnings per Share Basic and Diluted (Details) - shares
 3 Months Ended 9 Months Ended
Sep. 28, 2024
Sep. 30, 2023
Sep. 28, 2024
Sep. 30, 2023
Weighted-average common shares outstanding:        
Basic (in shares) 126,124,715 130,388,353 127,550,045 130,888,717
Effect of dilutive securities:        
Stock options and restricted stock units 930,219 1,053,782 948,449 1,260,455
Diluted (in shares) 127,054,934 131,442,135 128,498,494 132,149,172
v3.24.3
Earnings Per Share - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares
 3 Months Ended 9 Months Ended
Sep. 28, 2024
Sep. 30, 2023
Sep. 28, 2024
Sep. 30, 2023
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]        
Anti-dilutive securities excluded from EPS computation 430,201 431,367 432,404 441,309
Stock Options [Member]        
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]        
Anti-dilutive securities excluded from EPS computation 412,574 424,005 416,065 426,237
Restricted Stock Units [Member]        
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]        
Anti-dilutive securities excluded from EPS computation 17,627 7,362 16,339 15,072
v3.24.3
Supplemental Cash Flow Information (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 28, 2024
Sep. 30, 2023
Sep. 28, 2024
Sep. 30, 2023
Supplemental Cash Flow Information [Abstract]        
Interest     $ 92 $ 52
Income taxes     127 178
Non-cash net unrealized gains related to foreign currency hedging activities $ (25) $ 9 $ (4) $ 3
v3.24.3
Related Party Transactions - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 28, 2024
Sep. 30, 2023
Sep. 28, 2024
Sep. 30, 2023
Dec. 30, 2023
Related Party Transaction [Line Items]          
Current operating lease liabilities $ 77.0   $ 77.0   $ 80.0
Noncurrent operating lease liabilities 262.0   262.0   310.0
Equity Method Investee [Member]          
Related Party Transaction [Line Items]          
Other liabilities 8.0   8.0   5.0
Due from related party 32.0   32.0   32.0
Revenues 14.0 $ 11.0 38.0 $ 34.0  
Purchases from related party 2.0 1.0 8.0 7.0  
Internet Brands Inc [Member]          
Related Party Transaction [Line Items]          
Other liabilities 10.0   $ 10.0   1.0
Internet Brands Inc [Member] | Royalty Agreements [Member]          
Related Party Transaction [Line Items]          
Period covered by agreement     10 years    
Related party agreement amount     $ 31.0    
Operating costs and expenses 8.0 $ 8.0 23.0 $ 23.0  
Employees and Minority Shareholders [Member]          
Related Party Transaction [Line Items]          
Current operating lease liabilities 6.0   6.0   5.0
Noncurrent operating lease liabilities $ 22.0   $ 22.0   $ 23.0
Employees and Minority Shareholders [Member] | Operating Lease Liabilities, Current [Member] | Related Party Concentration Risk[Member]          
Related Party Transaction [Line Items]          
Concentration risk percentage     7.40%   6.30%
Employees and Minority Shareholders [Member] | Operating Lease Liabilities, Non-Current [Member] | Related Party Concentration Risk[Member]          
Related Party Transaction [Line Items]          
Concentration risk percentage     8.30%   7.40%
Employees and Minority Shareholders [Member] | Minimum [Member]          
Related Party Transaction [Line Items]          
Remaining operating lease term 6 months   6 months    
Employees and Minority Shareholders [Member] | Maximum [Member]          
Related Party Transaction [Line Items]          
Remaining operating lease term 13 years   13 years