3 unchanged sentences
Stock Repurchase Program
−Removed: At December 31, 2020, the Company had authorization to purchase $1.0 billion of common stock under the share repurchase program and has $350 million remaining under this program.
+Added: At December 31, 2021, the Company had authorization to purchase $1.0 billion of common stock under the share repurchase program with $890 million remaining under this program.
Share repurchases may be made through open market purchases, Rule 10b5-1 plans, accelerated share repurchase transactions and other structured share repurchases, privately negotiated transactions or other transactions in such amounts and at such times as the Company deems appropriate based upon prevailing market and business conditions and other factors.
−Removed: During the quarter ended December 31, 2020, the Company had no repurchases of common shares under the stock repurchase program.
+Added: During the three months ended December 31, 2021, the Company had the following activity with respect to this repurchase program:
+Added: (in millions, except per share amounts) Total Number of Shares Purchased Average Price Paid Per Share Total Cost of Shares Purchased Dollar Value of Shares that May be Purchased Under the Stock Repurchase Program
+Added: October 1, 2021 to October 31, 2021 — $ — $ — $ 1,000
+Added: November 1, 2021 to November 30, 2021 2.0 55.14 110 890
+Added: December 1, 2021 to December 31.
+Added: 2021 — — — 890
+Added: 2.0 $ 55.14 $ 110
For the year ended December 31, 2021, the Company repurchased approximately 3.5 million shares at a cost of $200 million for an average price of $57.47.
9 unchanged sentences
S&P Health Care 100.00 122.08 129.97 157.04 178.15 224.70
−Removed: Selected Financial Data
−Removed: DENTSPLY SIRONA INC.
−Removed: AND SUBSIDIARIES
−Removed: SELECTED FINANCIAL DATA
−Removed: (in millions, except per share amounts, days and percentages)
−Removed: The following selected financial data is qualified by reference to, and should be read in conjunction with, the Consolidated Financial Statements, including the notes thereto, and Management’s Discussion and Analysis of Financial Condition and Results of Operations included elsewhere in this Form 10-K.
−Removed: Year ended December 31,
−Removed: 2020 2019 2018 (a)
−Removed: 2017 2016 (b)
−Removed: Statements of Operations Data:
−Removed: Net sales $ 3,342 $ 4,029 $ 3,986 $ 3,993 $ 3,745
−Removed: Gross profit 1,657 2,165 2,068 2,189 2,001
−Removed: Goodwill impairment 157 — 1,086 1651 —
−Removed: Restructuring and other costs 77 81 221 425 23
−Removed: Operating (loss) income (12) 361 (958) (1562) 455
−Removed: (Loss) income before income taxes (60) 345 (958) (1603) 441
−Removed: Net (loss) income (83) 263 (1,011) (1550) 431
−Removed: Net (loss) income attributable to Dentsply Sirona $ (83) $ 263 $ (1,011) $ (1550) $ 430
−Removed: Net (loss) income per common share attributable to Dentsply Sirona:
−Removed: Basic (0.38) 1.18 (4.51) (6.76) 1.97
−Removed: Diluted (0.38) 1.17 (4.51) (6.76) 1.94
−Removed: Cash dividends declared per common share 0.400 0.375 0.350 0.350 0.310
−Removed: Weighted Average Common Shares Outstanding:
−Removed: Basic 219.2 223.1 224.3 229.4 218.0
−Removed: Diluted 219.2 224.4 224.3 229.4 221.6
−Removed: Balance Sheet Data:
−Removed: Cash and cash equivalents 438 405 310 321 384
−Removed: Property, plant and equipment, net 791 802 871 876 800
−Removed: Goodwill and other intangibles, net 6,490 5,573 5,851 7,340 8,909
−Removed: Total assets 9,342 8,603 8,687 10,375 11,556
−Removed: Total long-term debt, current and long-term portions (c)
−Removed: 2,274 1,433 1,576 1,621 1,522
−Removed: Equity 4,970 5,095 5,133 6,628 8,126
−Removed: Return on average equity NM 5.1 % NM NM 8.2 %
−Removed: Total net debt to total capitalization (d)
−Removed: 27.0 % 16.8 % 20.8 % 16.6 % 12.4 %
−Removed: Depreciation and amortization $ 334 $ 323 $ 331 $ 316 $ 272
−Removed: Cash flows from operating activities 635 633 500 602 563
−Removed: Capital expenditures 87 123 183 144 125
−Removed: Interest expense (income), net 47 28 35 36 34
−Removed: Inventory days 102 116 124 131 113
−Removed: Receivable days 54 62 59 61 58
−Removed: Effective tax rate (38.3 %) 23.8 % NM 3.3 % 2.2 %
−Removed: NM - Not meaningful
−Removed: (a) The Company adopted Accounting Standard Codification Topic 606, " Revenue from Contracts with Customers" ("ASC 606") effective January 1, 2018, using the modified retrospective method to contracts which were not completed as of December 31, 2017.
−Removed: Results for the years ended December 31, 2017 and 2016 are accounted for in accordance with the accounting standards in effect during those years.
−Removed: (b) Includes the results of the Sirona merger from February 29, 2016 through December 31, 2016.
−Removed: Information prior to February 29, 2016 refers to DENTSPLY International Inc.
−Removed: (c) Total debt amounts shown are net of deferred financing costs, including financing leases.
−Removed: (d) The Company defines net debt as total debt, including current and long-term portions less deferred financing costs, less cash and cash equivalents.
−Removed: Total capitalization is defined as the sum of net debt plus equity.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.