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SEC Filings

DENTSPLY SIRONA INC. filed this Form 8-K on 11/08/2018
Entire Document

(In millions)
Nine Months Ended September 30, 
Cash flows from operating activities: 
Net loss $(1,012.4)$(900.1)
Adjustments to reconcile net loss to net cash provided by operating activities: 
Depreciation 103.4 93.9 
Amortization of intangible assets 149.7 140.5 
Amortization of deferred financing costs 2.0 1.9 
Deferred income taxes (97.9)(46.3)
Stock based compensation expense 15.1 40.8 
Restructuring and other costs - non-cash 19.2 11.6 
Goodwill impairment 1,085.8 1,092.9 
Indefinite-lived intangible asset impairment 179.2 79.8 
Other non cash (income) (2.0)(1.6)
Loss on disposal of property, plant and equipment 2.7 2.3 
Gain on sale of equity security (44.1)— 
Changes in operating assets and liabilities, net of acquisitions: 
Accounts and notes receivable-trade, net 25.1 (57.6)
Inventories, net (83.3)(67.3)
Prepaid expenses and other current assets, net (47.3)(60.2)
Other noncurrent assets, net (10.3)4.3 
Accounts payable 10.1 9.1 
Accrued liabilities (7.1)46.8 
Income taxes 13.2 (24.1)
Other noncurrent liabilities (3.5)6.3 
Net cash provided by operating activities 297.6 373.0 
Cash flows from investing activities: 
Capital expenditures (130.6)(98.6)
Purchase of short term investments (0.1)(2.3)
Cash paid for acquisitions of businesses and equity investments, net of cash acquired (130.5)(135.9)
Proceeds from sale of equity security 54.1 — 
Cash received on derivative contracts 3.7 6.5 
Cash paid on derivative contracts (2.4)— 
Expenditures for identifiable intangible assets (5.5)(6.7)
Purchase of Company-owned life insurance policies — (0.9)
Proceeds from sale of property, plant and equipment, net 6.3 2.1 
Net cash used in investing activities (205.0)(235.8)
Cash flows from financing activities: 
Increase in short-term borrowings 124.3 1.4 
Cash paid for treasury stock (250.2)(151.4)
Cash dividends paid (59.1)(58.2)
Proceeds from long-term borrowings 0.3 2.9 
Repayments on long-term borrowings (9.3)(16.2)
Proceeds from exercise of stock options 22.8 52.9 
Net cash used in financing activities (171.2)(168.6)
Effect of exchange rate changes on cash and cash equivalents (8.9)17.5 
Net decrease in cash and cash equivalents (87.5)(13.9)
Cash and cash equivalents at beginning of period 320.6 383.9 
Cash and cash equivalents at end of period $233.1 $370.0

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