Envista Holdings CorpNVST
Envista Holdings Corp Segments Disclosure
SEGMENT INFORMATION
The Company operates and reports its results in two business segments, the Specialty Products & Technologies and Equipment & Consumables segments. The Company’s Specialty Products & Technologies products primarily include implants, regenerative products, prosthetics, orthodontic brackets, aligners and lab products. The Company’s Equipment & Consumables products primarily include traditional consumable products such as bonding agents and cements, impression materials, infection prevention products and restorative products, while the Company’s equipment products primarily include digital imaging systems, software and other visualization and magnification systems.
On December 31, 2024, the Company adopted ASU 2023-07, “Segment Reporting - Improving Reportable Segment Disclosures” and updated its disclosures to conform to the new segment disclosure requirements. Additionally, prior year disclosures have been modified to conform to the new ASU disclosure presentation requirements. There were no changes to significant expense classifications nor the methods used to allocate such expenses, and therefore recasting of segment information for the year ended December 31, 2023 is not required.
The Company’s operating segments are also its reportable segments. The Company’s chief operating decision maker (“CODM”) is the chief executive officer. The CODM primarily utilizes segment operating profit or loss as the key indicator in assessing the segment's performance and allocating resources. Operating profit represents total revenues less expenses, excluding corporate and other expenses, nonoperating income (expense), interest expense and income taxes. The expense components used in determining operating profit include the following:
Cost of sales which includes the cost of materials, labor, facilities, restructuring costs and other infrastructure used to manufacture the Company’s products, and shipping and handling costs attributable to delivering these products to customers.
Selling, General & Administrative expenses which includes, among other things, the costs of selling, marketing, promotion, advertising and administration (including business technology, facilities, legal, finance, human resources, business development and procurement), restructuring costs, and amortization expense for intangible assets that have been acquired through business combinations.
Research and development (“R&D”) expenses which include project costs specific to new product R&D and product lifecycle management, overhead costs associated with R&D operations, regulatory costs, product registrations and investments that support local market clinical trials for approved indications.
For corporate and other, these expenses represent unallocated corporate costs and other costs, including goodwill and intangible impairment charges. These activities do not meet the criteria for a stand-alone reporting segment under ASC 280 Segment Reporting, thus are not considered in management’s evaluation of reportable segment operating performance.
The identifiable assets by segment are those used in each segment’s operations. Additionally, inter-segment amounts which have been eliminated, are not significant to the below presentation of segment information.
Segment related information is shown below ($ in millions):
| Year Ended December 31, 2025 | |||||||||||||||||
| Specialty Products & Technologies | Equipment & Consumables | Total | |||||||||||||||
| Sales | $ | 1,752.8 | $ | 966.7 | $ | 2,719.5 | |||||||||||
| Less: | |||||||||||||||||
| Expenses | 1,561.6 | 808.7 | 2,370.3 | ||||||||||||||
| Segment operating profit | $ | 191.2 | $ | 158.0 | $ | 349.2 | |||||||||||
| Segment operating profit and reconciliation to income before taxes: | |||||||||||||||||
| Segment operating profit | $ | 349.2 | |||||||||||||||
| Corporate and other | (133.1) | ||||||||||||||||
| Nonoperating other expense, net | (2.3) | ||||||||||||||||
| Interest expense, net | (36.6) | ||||||||||||||||
| Income before taxes | $ | 177.2 | |||||||||||||||
| Depreciation and amortization | |||||||||||||||||
| Specialty Products & Technologies | $ | 86.0 | |||||||||||||||
| Equipment & Consumables | 28.2 | ||||||||||||||||
| Corporate and other | 1.8 | ||||||||||||||||
| Total | $ | 116.0 | |||||||||||||||
| Capital expenditures, gross | |||||||||||||||||
| Specialty Products & Technologies | $ | 28.6 | |||||||||||||||
| Equipment & Consumables | 16.8 | ||||||||||||||||
| Corporate and other | 0.9 | ||||||||||||||||
| Total | $ | 46.3 | |||||||||||||||
| Identifiable assets | |||||||||||||||||
| Specialty Products & Technologies | $ | 2,488.3 | |||||||||||||||
| Equipment & Consumables | 1,942.1 | ||||||||||||||||
| Corporate and other | 1,248.6 | ||||||||||||||||
| Total | $ | 5,679.0 | |||||||||||||||
| Year Ended December 31, 2024 | |||||||||||||||||
| Specialty Products & Technologies | Equipment & Consumables | Total | |||||||||||||||
| Sales | $ | 1,616.4 | $ | 894.2 | $ | 2,510.6 | |||||||||||
| Less: | |||||||||||||||||
| Expenses | 1,526.5 | 741.9 | 2,268.4 | ||||||||||||||
| Segment operating profit | $ | 89.9 | $ | 152.3 | $ | 242.2 | |||||||||||
| Segment operating profit and reconciliation to loss before taxes: | |||||||||||||||||
| Segment operating profit | $ | 242.2 | |||||||||||||||
| Corporate and other | (1,280.4) | ||||||||||||||||
| Nonoperating other expense, net | (0.1) | ||||||||||||||||
| Interest expense, net | (46.4) | ||||||||||||||||
| Loss before taxes | $ | (1,084.7) | |||||||||||||||
| Depreciation and amortization | |||||||||||||||||
| Specialty Products & Technologies | $ | 85.1 | |||||||||||||||
| Equipment & Consumables | 35.9 | ||||||||||||||||
| Corporate and other | 2.1 | ||||||||||||||||
| Total | $ | 123.1 | |||||||||||||||
| Capital expenditures, gross | |||||||||||||||||
| Specialty Products & Technologies | $ | 20.4 | |||||||||||||||
| Equipment & Consumables | 10.5 | ||||||||||||||||
| Corporate and other | 3.2 | ||||||||||||||||
| Total | $ | 34.1 | |||||||||||||||
| Identifiable assets | |||||||||||||||||
| Specialty Products & Technologies | $ | 2,354.2 | |||||||||||||||
| Equipment & Consumables | 1,884.2 | ||||||||||||||||
| Corporate and other | 1,112.1 | ||||||||||||||||
| Total | $ | 5,350.5 | |||||||||||||||
| Year Ended December 31, 2023 | |||||||||||||||||
| Specialty Products & Technologies | Equipment & Consumables | Total | |||||||||||||||
| Sales | $ | 1,642.4 | $ | 924.1 | $ | 2,566.5 | |||||||||||
| Less: | |||||||||||||||||
| Expenses | 1,410.3 | 767.8 | 2,178.1 | ||||||||||||||
| Segment operating profit | $ | 232.1 | $ | 156.3 | $ | 388.4 | |||||||||||
| Segment operating profit and reconciliation to loss before taxes: | |||||||||||||||||
| Segment operating profit | $ | 388.4 | |||||||||||||||
| Corporate and other | (356.9) | ||||||||||||||||
| Nonoperating other expense, net | (23.0) | ||||||||||||||||
| Interest expense, net | (63.4) | ||||||||||||||||
| Loss before taxes | $ | (54.9) | |||||||||||||||
| Depreciation and amortization | |||||||||||||||||
| Specialty Products & Technologies | $ | 86.1 | |||||||||||||||
| Equipment & Consumables | 47.2 | ||||||||||||||||
| Corporate and other | 2.3 | ||||||||||||||||
| Total | $ | 135.6 | |||||||||||||||
| Capital expenditures, gross | |||||||||||||||||
| Specialty Products & Technologies | $ | 39.0 | |||||||||||||||
| Equipment & Consumables | 12.3 | ||||||||||||||||
| Corporate and other | 1.9 | ||||||||||||||||
| Total | $ | 53.2 | |||||||||||||||
Operations in Geographical Areas:
| Year Ended December 31, | |||||||||||||||||
| ($ in millions) | 2025 | 2024 | 2023 | ||||||||||||||
| Sales: | |||||||||||||||||
| United States | $ | 1,281.3 | $ | 1,202.9 | $ | 1,209.4 | |||||||||||
| China | 194.4 | 193.5 | 205.7 | ||||||||||||||
| All other (each country individually less than 5% of total sales) | 1,243.8 | 1,114.2 | 1,151.4 | ||||||||||||||
| Total | $ | 2,719.5 | $ | 2,510.6 | $ | 2,566.5 | |||||||||||
| Property, plant and equipment, net: | December 31, 2025 | December 31, 2024 | |||||||||||||||
| United States | $ | 160.5 | $ | 155.6 | |||||||||||||
| Sweden | 37.7 | 32.4 | |||||||||||||||
| Czech Republic | 30.4 | 23.2 | |||||||||||||||
| China | 20.4 | 21.3 | |||||||||||||||
| Mexico | 14.2 | 15.8 | |||||||||||||||
| All other (each country individually less than 5% of total long-lived assets) | 33.6 | 28.7 | |||||||||||||||
| Total | $ | 296.8 | $ | 277.0 | |||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 12, 2026 | Showing above |
| 2024 | Feb 13, 2025 | |
| 2023 | Feb 15, 2024 | |
| 2022 | Feb 16, 2023 | |
| 2021 | Feb 24, 2022 | |
| 2020 | Feb 19, 2021 | |
| 2019 | Feb 21, 2020 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.