Envista (NVST) 10-Q 3 Nov 21 2021 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Oct. 01, 2021	Oct. 29, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Oct. 1, 2021
Document Transition Report	false
Entity File Number	001-39054
Entity Registrant Name	ENVISTA HOLDINGS CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	83-2206728
Entity Address, Address Line One	200 S. Kraemer Blvd., Building E
Entity Address, City or Town	Brea,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92821-6208
City Area Code	714
Local Phone Number	817-7000
Title of 12(b) Security	Common stock, $0.01 par value
Trading Symbol	NVST
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		161,368,349
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001757073

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Oct. 01, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 638.8	$ 888.9
Trade accounts receivable, less allowance for credit losses of $25.2 and $30.5, respectively	307.4	301.7
Inventories, net	274.3	216
Prepaid expenses and other current assets	77.9	70.1
Current assets held for sale	468	113.9
Total current assets	1,766.4	1,590.6
Property, plant and equipment, net	266.1	274.6
Operating lease right-of-use assets	150.8	162.7
Other long-term assets	174.1	119
Goodwill	3,145.8	3,207.4
Other intangible assets, net	1,058.8	1,152.7
Noncurrent assets held for sale	0	369
Total assets	6,562	6,876
Current liabilities:
Short-term debt	426.7	886.8
Trade accounts payable	171	202.5
Accrued expenses and other liabilities	509.9	467.8
Operating lease liabilities	24.5	31.1
Current liabilities held for sale	137.1	96.5
Total current liabilities	1,269.2	1,684.7
Operating lease liabilities	139.7	152.6
Other long-term liabilities	318.2	347
Long-term debt	887.8	907.7
Noncurrent liabilities held for sale	0	63
Commitments and contingencies
Stockholders’ equity:
Preferred stock, no par value, 15.0 million shares authorized; no shares issued or outstanding at October 1, 2021 and December 31, 2020	0	0
Common stock - $0.01 par value, 500.0 million shares authorized;161.7 million shares issued and 161.3 million shares outstanding at October 1, 2021; 160.2 million shares issued and 160.0 million outstanding at December 31, 2020	1.6	1.6
Additional paid-in capital	3,716.6	3,684.4
Retained earnings	381.1	126.4
Accumulated other comprehensive loss	(152.6)	(91.8)
Total Envista stockholders’ equity	3,946.7	3,720.6
Noncontrolling interests	0.4	0.4
Total stockholders’ equity	3,947.1	3,721
Total liabilities and stockholders’ equity	$ 6,562	$ 6,876

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions	Oct. 01, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Allowance for credit losses	$ 25.2	$ 30.5
Preferred stock, par value (in USD per share)	$ 0	$ 0
Preferred shares authorized (in shares)	15,000,000	15,000,000
Preferred shares issued (in shares)	0	0
Preferred shares outstanding (in shares)	0	0
Common stock, par value (in USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	161,700,000	160,200,000
Common stock, shares outstanding (in shares)	161,300,000	160,000,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended			9 Months Ended
	Oct. 01, 2021	Oct. 02, 2020		Oct. 01, 2021		Oct. 02, 2020
Income Statement [Abstract]
Sales	$ 607.3	$ 547.2		$ 1,857.1		$ 1,312.8
Cost of sales	251	238.8		773.8		598
Gross profit	356.3	308.4		1,083.3		714.8
Operating expenses:
Selling, general and administrative	250.6	226.8		747.5		681.3
Research and development	24	20		75.7		63.5
Operating profit (loss)	81.7	61.6		260.1		(30)
Nonoperating income (expense):
Other income	0.2	0.2		0.8		0.4
Interest expense, net	(12)	(23.4)		(43.6)		(41.2)
Income (loss) before income taxes	69.9	38.4		217.3		(70.8)
Income tax (benefit) expense	(10.3)	14.8		(3.7)		(22.2)
Income (loss) from continuing operations	80.2	23.6		221		(48.6)
Income (loss) from discontinued operations, net of tax (refer to Note 3)	12.7	12		33.7		(26.5)
Net income (loss)	$ 92.9	$ 35.6		$ 254.7		$ (75.1)
Earnings (loss) per share:
Earnings (loss) from continuing operations - basic (in USD per share)	$ 0.50	$ 0.15		$ 1.37		$ (0.30)
Earnings (loss) from continuing operations - diluted (in USD per share)	0.45	0.14		1.25		(0.30)
Earnings (loss) from discontinued operations - basic (in USD per share)	0.08	0.08		0.21		(0.17)
Earnings (loss) from discontinued operations - diluted (in USD per share)	0.07	0.07		0.19		(0.17)
Earnings (loss) - basic (in USD per share)	0.58	0.22	[1]	1.58		(0.47)
Earnings (loss) - diluted (in USD per share)	$ 0.52	$ 0.22	[1]	$ 1.43	[1]	$ (0.47)
Average common stock and common equivalent shares outstanding:
Basic (in shares)	161.5	159.7		161.1		159.4
Diluted (in shares)	178.1	163.9		177.5		159.4
[1]	* Earnings (loss) per share is computed independently for earnings (loss) per share from continuing operations and earnings (loss) per share from discontinued operations. The sum of earnings (loss) per share from continuing operations and earnings (loss) per share from discontinued operations does not equal earnings (loss) per share due to rounding.

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Oct. 01, 2021	Oct. 02, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 92.9	$ 35.6	$ 254.7	$ (75.1)
Other comprehensive (loss) income, net of income taxes:
Foreign currency translation adjustments	(25)	18.6	(64.3)	14.5
Cash flow hedge adjustments	1.1	1.5	3.6	(7.4)
Pension plan adjustments	0.2	0.2	(0.1)	0.9
Total other comprehensive (loss) income, net of income taxes	(23.7)	20.3	(60.8)	8
Comprehensive income (loss)	$ 69.2	$ 55.9	$ 193.9	$ (67.1)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Millions	Total	Total Envista Equity	Common Stock	Additional Paid-in Capital	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Loss	Noncontrolling Interests
Balance, beginning of period at Dec. 31, 2019		$ 3,540.2	$ 1.6	$ 3,589.7	$ 93.1	$ (144.2)	$ 2.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock-based award activity		6.4		6.4
Net income (loss)		(17.2)			(17.2)
Other comprehensive income (loss)		(45.7)				(45.7)
Balance, end of period at Apr. 03, 2020		3,483.7	1.6	3,596.1	75.9	(189.9)	2.6
Balance, beginning of period at Dec. 31, 2019		3,540.2	1.6	3,589.7	93.1	(144.2)	2.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	$ (75.1)
Other comprehensive income (loss)	8
Balance, end of period at Oct. 02, 2020		3,557.6	1.6	3,674.2	18	(136.2)	2.2
Balance, beginning of period at Apr. 03, 2020		3,483.7	1.6	3,596.1	75.9	(189.9)	2.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock-based award activity		7.6		7.6
Equity component of convertible senior notes, net of financing costs and taxes		77.9		77.9
Purchase of capped calls related to issuance of convertible senior notes, net of taxes		(15.7)		(15.7)
Net income (loss)		(93.5)			(93.5)
Other comprehensive income (loss)		33.4				33.4
Changes in noncontrolling interests							(0.1)
Balance, end of period at Jul. 03, 2020		3,493.4	1.6	3,665.9	(17.6)	(156.5)	2.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock-based award activity		8.3		8.3
Net income (loss)	35.6	35.6			35.6
Other comprehensive income (loss)	20.3	20.3				20.3
Changes in noncontrolling interests							(0.3)
Balance, end of period at Oct. 02, 2020		3,557.6	1.6	3,674.2	18	(136.2)	2.2
Balance, beginning of period at Dec. 31, 2020	3,721	3,720.6	1.6	3,684.4	126.4	(91.8)	0.4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock-based award activity		6.7		6.7
Net income (loss)		71.7			71.7
Other comprehensive income (loss)		(52.1)				(52.1)
Balance, end of period at Apr. 02, 2021		3,746.9	1.6	3,691.1	198.1	(143.9)	0.4
Balance, beginning of period at Dec. 31, 2020	3,721	3,720.6	1.6	3,684.4	126.4	(91.8)	0.4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	254.7
Other comprehensive income (loss)	(60.8)
Balance, end of period at Oct. 01, 2021	3,947.1	3,946.7	1.6	3,716.6	381.1	(152.6)	0.4
Balance, beginning of period at Apr. 02, 2021		3,746.9	1.6	3,691.1	198.1	(143.9)	0.4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock-based award activity		16.5		16.5
Net income (loss)		90.1			90.1
Other comprehensive income (loss)		15				15
Balance, end of period at Jul. 02, 2021		3,868.5	1.6	3,707.6	288.2	(128.9)	0.4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock-based award activity		9		9
Net income (loss)	92.9	92.9			92.9
Other comprehensive income (loss)	(23.7)	(23.7)				(23.7)
Balance, end of period at Oct. 01, 2021	$ 3,947.1	$ 3,946.7	$ 1.6	$ 3,716.6	$ 381.1	$ (152.6)	$ 0.4

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Oct. 01, 2021	Oct. 02, 2020
Cash flows from operating activities:
Net income (loss)	$ 254.7	$ (75.1)
Noncash items:
Depreciation	29.4	31.5
Amortization	62.6	68
Allowance for credit losses	4.2	20.1
Stock-based compensation expense	21.6	16.7
Gain on sale of property, plant and equipment	(2.2)	0
Restructuring charges	0.3	11.1
Impairment charges	9.4	17.1
Amortization of right-of-use assets	21.3	23.1
Amortization of debt discount and issuance costs	17.6	8
Change in trade accounts receivable	(15.1)	64.3
Change in inventories	(67.1)	16.8
Change in trade accounts payable	(39.9)	(49.3)
Change in prepaid expenses and other assets	(23.4)	(33.8)
Change in accrued expenses and other liabilities	(18.7)	(0.8)
Change in operating lease liabilities	(29.1)	(27.2)
Net cash provided by operating activities	225.6	90.5
Cash flows from investing activities:
Acquisitions, net of cash acquired	0	(40.7)
Payments for additions to property, plant and equipment	(46)	(34.6)
Proceeds from sales of property, plant and equipment	11.6	0
All other investing activities	8.5	11.3
Net cash used in investing activities	(25.9)	(64)
Cash flows from financing activities:
Proceeds from issuance of convertible senior notes	0	517.5
Payment of debt issuance and other deferred financing costs	(2.3)	(17.2)
Proceeds from revolving line of credit	0	249.8
Repayment of revolving line of credit	0	(250)
Repayment of borrowings	(475.7)	0
Purchase of capped calls related to issuance of convertible senior notes	0	(20.7)
Proceeds from stock option exercises	16	8.7
All other financing activities	(5.4)	0.6
Net cash (used in) provided by financing activities	(467.4)	488.7
Effect of exchange rate changes on cash and cash equivalents	17.6	(25.6)
Net change in cash and cash equivalents	(250.1)	489.6
Beginning balance of cash and cash equivalents	888.9	211.2
Ending balance of cash and cash equivalents	638.8	700.8
Supplemental data:
Cash paid for interest	26.1	34.3
Cash paid for taxes	65.6	22.3
ROU assets obtained in exchange for operating lease obligations	$ 24.9	$ 16

Business And Basis Of Presentat

Business And Basis Of Presentation	9 Months Ended
	Oct. 01, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and Basis of Presentation	BUSINESS AND BASIS OF PRESENTATION Separation and Initial Public Offering Envista Holdings Corporation (together with its subsidiaries, “Envista” or the “Company”) was formed as a wholly-owned subsidiary of Danaher Corporation (“Danaher”). Danaher formed Envista to ultimately acquire, own and operate the Dental business of Danaher. On September 20, 2019, the Company completed an initial public offering (“IPO”) resulting in the issuance of 30.8 million shares of its common stock (including shares issued pursuant to the underwriters’ option to purchase additional shares) to the public, which represented 19.4% of the Company’s outstanding common stock, at $22.00 per share, the initial public offering price, for total net proceeds, after deducting underwriting discounts and commissions, of $643.4 million. In connection with the completion of the IPO, through a series of equity and other transactions, Danaher transferred substantially all of its Dental business to the Company. As consideration for the transfer of the Dental business to the Company, the Company paid Danaher approximately $2.0 billion, which included the net proceeds from the IPO and the net proceeds from term debt financing, as further discussed in Note 13, and issued to Danaher 127.9 million shares of the Company’s common stock. The transactions described above related to the transfer of the Dental business are collectively referred to herein as the “Separation.” On November 15, 2019, Danaher announced an exchange offer whereby Danaher stockholders could exchange all or a portion of Danaher common stock for shares of the Company’s common stock owned by Danaher. The disposition of the Company’s shares was completed on December 18, 2019 and resulted in the full separation of the Company and disposal of Danaher’s entire ownership and voting interest in the Company. Business Overview The Company provides products that are used to diagnose, treat and prevent disease and ailments of the teeth, gums and supporting bone, as well as to improve the aesthetics of the human smile. The Company is a worldwide provider of a broad range of dental implants, orthodontic appliances, general dental consumables, equipment and services and is dedicated to driving technological innovations that help dental professionals improve clinical outcomes and enhance productivity. The Company operates in two business segments: Specialty Products & Technologies and Equipment & Consumables. The Company’s Specialty Products & Technologies segment develops, manufactures and markets dental implant systems, dental prosthetics and associated treatment software and technologies, as well as orthodontic bracket systems, aligners and lab products. The Company’s Equipment & Consumables segment develops, manufactures and markets dental equipment and supplies used in dental offices, including digital imaging systems, software and other visualization/magnification systems; endodontic systems and related consumables; and restorative materials and instruments, rotary burs, impression materials, bonding agents and cements and infection prevention products. Basis of Presentation All revenues and costs as well as assets and liabilities directly associated with the business activity of the Company are included in the financial statements. All significant intercompany accounts and transactions between the businesses comprising the Company have been eliminated in the accompanying Condensed Consolidated Financial Statements. The Condensed Consolidated Financial Statements included herein have been prepared by the Company without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to such rules and regulations; however, the Company believes that the disclosures are adequate to make the information presented not misleading. The accompanying Condensed Consolidated Financial Statements contain all adjustments (consisting of only normal recurring adjustments and reclassifications to conform to current year presentation) necessary to present fairly the financial position of the Company as of October 1, 2021 and December 31, 2020, and its results of operations for the three and nine month periods ended October 1, 2021 and October 2, 2020 and cash flows for the nine month periods ended October 1, 2021 and October 2, 2020. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the Company’s Consolidated and Combined Financial Statements and accompanying notes for the three years ended December 31, 2020, included in the Annual Report on Form 10-K filed by the Company with the SEC on February 19, 2021. As discussed in Note 3, Discontinued Operations, the Company has entered into a master sale and purchase agreement to sell its KaVo dental treatment unit and instrument business (the "KaVo Treatment Unit and Instrument Business"), which was part of the Company’s Equipment and Consumables segment. The previously reported amounts for the KaVo Treatment Unit and Instrument Business have been reclassified to discontinued operations for all periods presented. All segment information and descriptions exclude the KaVo Treatment Unit and Instrument Business. Risks and Uncertainties The Company is subject to risks and uncertainties as a result of the novel coronavirus (“COVID-19”) pandemic. During 2020, the Company’s sales and results of operations were most impacted by the COVID-19 pandemic during the first and second quarters with positive signs of recovery during the third and fourth quarters of 2020. During the three and nine months ended October 1, 2021, the Company continued to see positive signs of recovery in certain markets in which it operates, however, certain markets continue to be more adversely impacted than others. The extent of the impact of the COVID-19 pandemic on the Company's business is highly uncertain and difficult to predict because of the dynamic and evolving nature of the crisis. A worsening of the pandemic or impacts of new variants of the virus may lead to temporary closures of dental practices in the future. Furthermore, capital markets and economies worldwide have also been negatively impacted by the COVID-19 pandemic, and it is possible that it could cause a material local and/or global economic slowdown or global recession. Such economic disruption could have a material adverse effect on the Company as the Company’s customers curtail and reduce capital and overall spending. Policymakers around the globe have responded with fiscal policy actions to support the healthcare industry and economy as a whole. The magnitude and overall effectiveness of these actions remains uncertain. The severity of the impact of the COVID-19 pandemic on the Company's business will depend on a number of factors, including, but not limited to, the scope and duration of the pandemic, the extent and severity of the impact on the Company's customers, the measures that have been and may be taken to contain the virus (including its various mutations) and mitigate its impact, U.S. and foreign government actions to respond to the reduction in global economic activity, the ability of the Company to continue to manufacture and source its products and to find suitable alternative products at reasonable prices, the impact of the pandemic and associated economic downturn on the Company’s ability to access capital if and when needed and how quickly and to what extent normal economic and operating conditions can resume, all of which are uncertain and cannot be predicted. Even after the COVID-19 pandemic has subsided, the Company may continue to experience materially adverse impacts on the Company’s financial condition and results of operations. The Company's future results of operations and liquidity could be adversely impacted by delays in payments of outstanding receivable amounts beyond normal payment terms, continued or worsening supply chain disruptions, uncertain demand, staffing shortages due to any federal, state, and local vaccine mandates and the impact of any initiatives or programs that the Company may undertake to address financial and operational challenges faced by its customers and suppliers. The extent to which the COVID-19 pandemic may materially impact the Company's financial condition, liquidity, or results of operations is uncertain. Accounting Standards Recently Adopted In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. The ASU was effective for public entities for fiscal years beginning after December 15, 2020, with early adoption permitted. The Company adopted this guidance on January 1, 2021, which did not have a significant impact on the Company’s Condensed Consolidated Financial Statements. Accounting Standards Not Yet Adopted In August 2020, the FASB issued ASU 2020-06, Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815 – 40), which simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts on an entity’s own equity. This guidance is part of the FASB’s simplification initiative, which aims to reduce unnecessary complexity in U.S. GAAP. The ASU is effective for public entities for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years. The Company has not yet completed its assessment of the impact of the new standard on the Company’s Condensed Consolidated Financial Statements. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting , which provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships and other transactions that reference London Interbank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued because of reference rate reform, if certain criteria are met. The ASU is effective for public entities as of March 12, 2020 through December 31, 2022. An entity may elect to apply the amendments to eligible hedging relationships existing as of the beginning of the interim period that includes March 12, 2020 and to new eligible hedging relationships entered into after the beginning of the interim period that includes March 12, 2020. If an entity elects to apply any of the amendments for an eligible hedging relationship existing as of the beginning of the interim period that includes March 12, 2020, any adjustments as a result of those elections must be reflected as of the beginning of that interim period and recognized in accordance with the guidance in Reference Rate Reform Subtopics 848-30, 848-40, and 848-50 (as applicable). If an entity elects to apply any of the amendments for a new hedging relationship entered into between the beginning of the interim period that includes March 12, 2020 and March 12, 2020, any adjustments as a result of those elections must be reflected as of the beginning of the hedging relationship and recognized in accordance with the guidance in Reference Rate Reform Subtopics 848-30, 848-40, and 848-50 (as applicable).

Acquisition

Acquisition	9 Months Ended
	Oct. 01, 2021
Business Combination and Asset Acquisition [Abstract]
Acquisition	ACQUISITION On January 21, 2020, the Company acquired all of the shares of Matricel GmbH (“Matricel”) for cash consideration of approximately $43.6 million. Matricel, a German company, is a provider of biomaterials used in dental applications and complements the Company’s Specialty Products & Technologies segment. For the three and nine months ended October 2, 2020, Matricel’s revenue and earnings were not material to the Condensed Consolidated Statements of Operations. Goodwill was not deductible for income tax purposes. The measurement period for adjustments related to the purchase price allocation for this acquisition is complete. The following table summarizes the fair values of the assets acquired and liabilities assumed as of the acquisition date ($ in millions): January 21, 2020 Assets acquired: Cash $ 2.9 Trade accounts receivable 1.0 Inventories 1.9 Prepaid expenses and other current assets 0.2 Property, plant and equipment 0.5 Goodwill 25.1 Other intangible assets 22.3 Total assets acquired 53.9 Liabilities assumed: Trade accounts payable (0.1) Accrued expenses and other liabilities (10.2) Total liabilities assumed (10.3) Total net assets acquired $ 43.6 The excess of the purchase price over the fair value assigned to the assets acquired and liabilities assumed represents the goodwill resulting from the acquisition. Goodwill attributable to the acquisition has been recorded as a non-current asset and is not amortized, but is subject to review at least on an annual basis for impairment. Goodwill recognized was primarily attributable to expected operating efficiencies and expansion opportunities in the business acquired. The pro forma impact of this acquisition is not presented as it was not considered material to the Company's Condensed Consolidated Financial Statements. The intangible assets acquired consist of technology and customer relationships. The weighted average amortization period of the acquired intangible assets in the aggregate is 10 years.

Discontinued Operations

Discontinued Operations	9 Months Ended
	Oct. 01, 2021
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	DISCONTINUED OPERATIONS On September 7, 2021, the Company entered into a master sale and purchase agreement (the "Purchase Agreement") with planmeca Verwaltungs GmbH, Germany ("Planmeca"), and Planmeca Oy, a privately-held Finnish company, as guarantor, pursuant to which the Company will sell to Planmeca its KaVo Treatment Unit and Instrument Business for total consideration of up to $455 million, which includes a potential earn-out payment of up to $30 million, subject to certain adjustments as provided in the Purchase Agreement. The Purchase Agreement provides that the Company will sell the KaVo Treatment Unit and Instrument Business through the sale of certain assets, the transfer of the equity of certain of its subsidiaries, and the assumption by Planmeca of certain liabilities and agreements, in each case used in or related to the KaVo Treatment Unit and Instrument Business (the "Divestiture"). The transaction is expected to close at the end of 2021. The Divestiture was part of the Company’s strategy to structurally improve its long-term margins and represents a strategic shift with a major effect on the Company’s operations and financial results as described in Accounting Standards Codification—Discontinued Operations ("ASC 205-20"). The pending sale meets the criteria to be accounted for as a discontinued operation. Accordingly, the Company has applied discontinued operations treatment for the Divestiture as required by ASC 205-20. In accordance with ASC 205-20, the Company reclassified the Divestiture to assets and liabilities held for sale on its Condensed Consolidated Balance Sheets as of October 1, 2021 and December 31, 2020 and reclassified the financial results of the Divestiture in its Condensed Consolidated Statements of Operations for all periods presented. The Company’s Condensed Consolidated Statements of Cash Flows for the three and nine months ended October 1, 2021 and October 2, 2020 include the financial results of the KaVo Treatment Unit and Instrument Business. The carrying amounts of the assets and liabilities of the Divestiture have been reclassified from their historical balance sheet presentation to current and noncurrent assets and current and noncurrent liabilities held for sale as follows: As of October 1, 2021 December 31, 2020 ASSETS Current assets: Trade accounts receivable, less allowance for credit losses of $4.4 and $6.6, respectively $ 57.4 $ 59.3 Inventories, net 53.5 50.9 Prepaid expenses and other current assets 6.7 3.7 Property, plant and equipment, net 27.5 — Operating lease right-of-use assets 2.8 — Other assets 8.2 — Goodwill 212.0 — Other intangible assets, net 99.9 — Current assets held for sale $ 468.0 $ 113.9 Property, plant and equipment, net $ — $ 28.4 Operating lease right-of-use assets — 2.6 Other long-term assets — 8.2 Goodwill — 223.3 Other intangible assets, net — 106.5 Noncurrent assets held for sale $ — $ 369.0 LIABILITIES AND EQUITY Current liabilities: Trade accounts payable $ 20.4 $ 32.6 Accrued expenses and other liabilities 53.5 62.5 Operating lease liabilities 2.7 1.4 Other liabilities 60.5 — Current liabilities held for sale $ 137.1 $ 96.5 Operating lease liabilities $ — $ 1.2 Other long-term liabilities — 61.8 Noncurrent liabilities held for sale $ — $ 63.0 The operating results of the Divestiture are reflected in the Condensed Consolidated Statements of Operations within income (loss) from discontinued operations, net of tax as follows: Three Months Ended Nine Months Ended October 1, 2021 October 2, 2020 October 1, 2021 October 2, 2020 Sales $ 102.5 $ 93.3 302.0 $ 236.8 Cost of sales 57.2 61.1 174.4 182.1 Gross profit 45.3 32.2 127.6 54.7 Operating expenses: Selling, general and administrative 25.2 22.0 70.4 78.1 Research and development 3.8 2.4 12.5 10.1 Operating profit (loss) 16.3 7.8 44.7 (33.5) Income tax expense (benefit) $ 3.6 $ (4.2) $ 11.0 $ (7.0) Income (loss) from discontinued operations $ 12.7 $ 12.0 $ 33.7 $ (26.5) Significant non-cash operating items and capital expenditures for the Divestiture are reflected in the cash flows from operations as follows: Nine Months Ended October 1, 2021 October 2, 2020 Cash flows from operating activities Non-cash restructuring charges $ — $ 9.6 Impairment charges $ — $ 10.3 Depreciation and amortization 1 $ 5.6 $ 9.0 Cash flows from investing activities: Capital expenditures $ 4.2 $ 4.5 1 Depreciation and amortization are no longer recognized once the business is classified as held for sale.

Credit Losses

Credit Losses	9 Months Ended
	Oct. 01, 2021
Credit Loss [Abstract]
Credit Losses	CREDIT LOSSES The allowance for credit losses is a valuation account deducted from accounts receivable to present the net amount expected to be collected. Accounts receivable are charged off against the allowance when management believes the uncollectibility of an accounts receivable balance is confirmed. Management estimates the adequacy of the allowance by using relevant available information, from internal and external sources, relating to past events, current conditions and forecasts. Historical credit loss experience provides the basis for estimation of expected credit losses and is adjusted as necessary using the relevant information available. The allowance for credit losses is measured on a collective basis when similar risk characteristics exist. The Company has identified one portfolio segment based on the following risk characteristics: geographic regions, product lines, default rates and customer specific factors. The factors used by management in its credit loss analysis are inherently subject to uncertainty. The extent of the impact of the COVID-19 pandemic on the Company's business is highly uncertain and difficult to predict. The Company considered the current and expected future economic and market conditions surrounding the COVID-19 pandemic, including the impact of delays in payments of outstanding receivable amounts beyond normal payment terms. If actual results are not consistent with management’s estimates and assumptions, the allowance for credit losses may be overstated or understated and a charge or credit to net income (loss) may be required. The rollforward of the allowance for credit losses is summarized as follows ($ in millions): Balance at December 31, 2020 $ 30.5 Foreign currency translation (0.8) Provision for credit losses 3.5 Write-offs charged against the allowance (3.6) Recoveries (4.4) Balance at October 1, 2021 $ 25.2

Inventories

Inventories	9 Months Ended
	Oct. 01, 2021
Inventory Disclosure [Abstract]
Inventories	INVENTORIES The classes of inventory are summarized as follows ($ in millions): October 1, 2021 December 31, 2020 Finished goods $ 232.3 $ 179.3 Work in process 21.1 25.3 Raw materials 82.0 71.8 Reserve for inventory obsolescence (61.1) (60.4) Total $ 274.3 $ 216.0

Property, Plant And Equipment

Property, Plant And Equipment	9 Months Ended
	Oct. 01, 2021
Property, Plant and Equipment [Abstract]
Property, Plant And Equipment	PROPERTY, PLANT AND EQUIPMENT The classes of property, plant and equipment are summarized as follows ($ in millions): October 1, 2021 December 31, 2020 Land and improvements $ 10.8 $ 16.9 Buildings and improvements 172.2 148.8 Machinery, equipment and other assets 365.5 342.8 Construction in progress 42.1 84.8 Gross property, plant and equipment 590.6 593.3 Less: accumulated depreciation (324.5) (318.7) Property, plant and equipment, net $ 266.1 $ 274.6

Goodwill

Goodwill	9 Months Ended
	Oct. 01, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	GOODWILL The following is a rollforward of the Company’s goodwill by segment ($ in millions): Specialty Products & Technologies Equipment & Consumables Total Balance, December 31, 2020 $ 2,099.0 $ 1,108.4 $ 3,207.4 Foreign currency translation (49.7) (11.9) (61.6) Balance, October 1, 2021 $ 2,049.3 $ 1,096.5 $ 3,145.8

Accrued Expenses And Other Liab

Accrued Expenses And Other Liabilities	9 Months Ended
	Oct. 01, 2021
Accrued expenses and other [Abstract]
Accrued Expenses And Other Liabilities	ACCRUED EXPENSES AND OTHER LIABILITIES Accrued expenses and other liabilities were as follows ($ in millions): October 1, 2021 December 31, 2020 Current Noncurrent Current Noncurrent Compensation and benefits $ 163.8 $ 17.0 $ 142.5 $ 13.6 Restructuring-related employee severance, benefits and other 15.3 — 23.0 — Pension benefits 8.5 58.6 8.5 60.6 Taxes, income and other 47.8 200.6 48.3 199.8 Contract liabilities 57.0 4.5 44.6 3.6 Sales and product allowances 68.0 1.2 56.9 0.9 Loss contingencies 10.0 29.1 6.3 33.2 Derivative financial instruments 32.2 — 42.4 27.8 Other 107.3 7.2 95.3 7.5 Total $ 509.9 $ 318.2 $ 467.8 $ 347.0

Hedging Transactions And Deriva

Hedging Transactions And Derivative Financial Instruments	9 Months Ended
	Oct. 01, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Hedging Transactions and Derivative Financial Instruments	HEDGING TRANSACTIONS AND DERIVATIVE FINANCIAL INSTRUMENTS The Company uses cross-currency swap derivative contracts to partially hedge its net investments in foreign operations against adverse movements in exchange rates between the U.S. dollar and the euro. The cross-currency swap derivative contracts are agreements to exchange fixed-rate payments in one currency for fixed-rate payments in another currency. On September 20, 2019, the Company entered into cross-currency swap derivative contracts with respect to its $650.0 million senior unsecured term loan facility. These contracts effectively convert the $650.0 million senior unsecured term loan facility to an obligation denominated in euros and partially offsets the impact of changes in currency rates on foreign currency denominated net investments. The changes in the fair value of these instruments are recorded in accumulated other comprehensive loss in equity, in the accompanying Condensed Consolidated Balance Sheets, partially offsetting the foreign currency translation adjustment of the Company’s related net investment that is also recorded in accumulated other comprehensive loss as reflected in Note 14. Any ineffective portions of net investment hedges are reclassified from accumulated other comprehensive loss into income during the period of change. The interest income or expense from these swaps is recorded in interest expense in the Company’s Condensed Consolidated Statements of Operations consistent with the classification of interest expense attributable to the underlying debt. These instruments mature in September 2022. The Company also has foreign currency denominated long-term debt in the amount of €208.0 million. This senior unsecured term loan facility represents a partial hedge of the Company’s net investment in foreign operations against adverse movements in exchange rates between the U.S. dollar and the euro. The euro senior unsecured term loan facility is designated and qualifies as a non-derivative hedging instrument. Accordingly, the foreign currency translation of the euro senior unsecured term loan facility is recorded in accumulated other comprehensive loss in equity in the accompanying Condensed Consolidated Balance Sheets, offsetting the foreign currency translation adjustment of the Company’s related net investment that is also recorded in accumulated other comprehensive loss in equity (see Note 14). Any ineffective portions of net investment hedges are reclassified from accumulated other comprehensive loss into income during the period of change. The euro senior unsecured term loan facility matures in September 2024. Refer to Note 13 for a further discussion of the above loan facilities. The Company uses interest rate swap derivative contracts to reduce its variability of cash flows related to interest payments with respect to its senior unsecured term loans. The interest rate swap contracts exchange interest payments based on variable rates for interest payments based on fixed rates. The changes in the fair value of these instruments are recorded in accumulated other comprehensive loss in equity (see Note 14). Any ineffective portions of the cash flow hedges are reclassified from accumulated other comprehensive loss into income during the period of change. The interest income or expense from these swaps is recorded in interest expense in the Company’s Condensed Consolidated Statements of Operations consistent with the classification of interest expense attributable to the underlying debt. These instruments mature on September 2022. The following table summarizes the notional values as of October 1, 2021 and October 2, 2020 and pretax impact of changes in the fair values of instruments designated as net investment hedges and cash flow hedges in accumulated other comprehensive loss (“OCI”) for the three and nine months ended October 1, 2021 and October 2, 2020 ($ in millions): Three Months Ended Three Months Ended Notional Amount Gain Recognized in OCI Notional Amount Gain (Loss) Recognized in OCI Interest rate contracts $ 250.0 $ 1.5 $ 450.0 $ 1.9 Foreign currency contracts 650.0 14.1 650.0 (30.7) Foreign currency denominated debt 241.2 5.6 703.0 (28.1) Total $ 1,141.2 $ 21.2 $ 1,803.0 $ (56.9) Nine Months Ended Nine Months Ended Notional Amount Gain Recognized in OCI Notional Amount Loss Recognized in OCI Interest rate contracts $ 250.0 $ 4.8 $ 450.0 $ (9.8) Foreign currency contracts 650.0 33.1 650.0 (20.9) Foreign currency denominated debt 241.2 19.7 703.0 (30.1) Total $ 1,141.2 $ 57.6 $ 1,803.0 $ (60.8) Gains or losses related to the foreign currency contracts and foreign currency denominated debt are classified as foreign currency translation adjustments in the schedule of changes in OCI in Note 14, as these items are attributable to the Company’s hedges of its net investment in foreign operations. Gains or losses related to the interest rate contracts are classified as cash flow hedge adjustments in the schedule of changes in OCI in Note 14. The Company did not reclassify any deferred gains or losses related to net investment and cash flow hedges from accumulated other comprehensive loss to income during the three and nine months ended October 1, 2021 and October 2, 2020. In addition, the Company did not have any ineffectiveness related to net investment and cash flow hedges during the three and nine months ended October 1, 2021 and October 2, 2020. The cash inflows and outflows associated with the Company’s derivative contracts designated as net investment hedges are classified in investing activities in the accompanying Condensed Consolidated Statements of Cash Flows. The Company’s derivative instruments, as well as its non-derivative debt instruments designated and qualifying as net investment hedges, were classified in the Company’s Condensed Consolidated Balance Sheets as follows ($ in millions): October 1, 2021 December 31, 2020 Derivative liabilities: Accrued expenses and other liabilities $ 32.2 $ 70.2 Nonderivative hedging instruments: Short-term debt $ — $ 472.0 Long-term debt $ 241.2 $ 260.9 Amounts related to the Company’s derivatives expected to be reclassified from accumulated other comprehensive loss to net income during the next 12 months are not significant.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Oct. 01, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS Accounting standards define fair value based on an exit price model, establish a framework for measuring fair value where the Company’s assets and liabilities are required to be carried at fair value and provide for certain disclosures related to the valuation methods used within a valuation hierarchy as established within the accounting standards. This hierarchy prioritizes the inputs into three broad levels as follows: Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 inputs are quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets in markets that are not active, or other observable characteristics for the asset or liability, including interest rates, yield curves and credit risks, or inputs that are derived principally from, or corroborated by, observable market data through correlation; and Level 3 inputs are unobservable inputs based on the Company’s assumptions. A financial asset or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement in its entirety. A summary of financial assets and liabilities that are measured at fair value on a recurring basis were as follows ($ in millions): Quoted Prices in Significant Other Significant Total October 1, 2021: Liabilities: Interest rate swap derivative contracts $ — $ 3.5 $ — $ 3.5 Cross-currency swap derivative contracts $ — $ 28.7 $ — $ 28.7 Deferred compensation plans $ — $ 15.5 $ — $ 15.5 December 31, 2020: Liabilities: Interest rate swap derivative contracts $ — $ 8.3 $ — $ 8.3 Cross-currency swap derivative contracts $ — $ 61.8 $ — $ 61.8 Deferred compensation plans $ — $ 11.8 $ — $ 11.8 Derivative Instruments The cross-currency swap derivative contracts are classified as Level 2 in the fair value hierarchy as they are measured using the income approach with the relevant interest rates and foreign currency current exchange rates and forward curves as inputs. The interest rate swap derivative contracts are classified as Level 2 in the fair value hierarchy as they are measured using the income approach with the relevant interest rates and forward curves as inputs. Refer to Note 9 for additional information. Deferred Compensation Plans Certain management employees of the Company participate in nonqualified deferred compensation programs that permit such employees to defer a portion of their compensation, on a pretax basis. All amounts deferred under this plan are unfunded, unsecured obligations and are presented as a component of the Company’s compensation and benefits accrual included in accrued expenses in the accompanying Condensed Consolidated Balance Sheets (refer to Note 8). Participants may choose among alternative earnings rates for the amounts they defer, which are primarily based on investment options within the Company’s 401(k) program. Changes in the deferred compensation liability under these programs are recognized based on changes in the fair value of the participants’ accounts, which are based on the applicable earnings rates on investment options within the Company’s 401(k) program. Amounts voluntarily deferred by employees into the Company stock fund and amounts contributed to participant accounts by the Company are deemed invested in the Company’s common stock and future distributions of such contributions will be made solely in shares of Company common stock, and therefore are not reflected in the above amounts. Fair Value of Financial Instruments The carrying amounts and fair values of the Company’s financial instruments were as follows ($ in millions): October 1, 2021 December 31, 2020 Carrying Amount Fair Value Carrying Amount Fair Value Liabilities: Interest rate swap derivative contracts $ 3.5 $ 3.5 $ 8.3 $ 8.3 Cross-currency swap derivative contracts $ 28.7 $ 28.7 $ 61.8 $ 61.8 Convertible senior notes due 2025 $ 426.7 $ 1,097.2 $ 411.1 $ 902.7 Long-term debt $ 887.8 $ 887.8 $ 907.7 $ 907.7

Warranty

Warranty	9 Months Ended
	Oct. 01, 2021
Commitments and Contingencies Disclosure [Abstract]
Warranty	WARRANTY The Company generally accrues estimated warranty costs at the time of sale. In general, manufactured products are warranted against defects in material and workmanship when properly used for their intended purpose, installed correctly and appropriately maintained. Warranty periods depend on the nature of the product and range from 90 days up to the life of the product. The amount of the accrued warranty liability is determined based on historical information such as past experience, product failure rates or number of units repaired, estimated cost of material and labor and in certain instances estimated property damage. The accrued warranty liability is reviewed on a quarterly basis and may be adjusted as additional information regarding expected warranty costs becomes known. The following is a rollforward of the Company’s accrued warranty liability ($ in millions): Balance at December 31, 2020 $ 12.4 Accruals for warranties issued during the year 12.1 Settlements made (14.4) Effect of foreign currency translation (0.2) Balance at October 1, 2021 $ 9.9

Litigation And Contingencies

Litigation And Contingencies	9 Months Ended
	Oct. 01, 2021
Commitments and Contingencies Disclosure [Abstract]
Litigation And Contingencies	LITIGATION AND CONTINGENCIES The Company records accruals for loss contingencies associated with these legal matters when it is probable that a liability will be incurred, and the amount of the loss can be reasonably estimated. The Company has determined that the liabilities associated with certain litigation matters are probable and can be reasonably estimated and has accrued $39.1 million and $39.5 million as of October 1, 2021 and December 31, 2020, respectively, which are included in accrued liabilities in the Condensed Consolidated Balance Sheets. The Company has accrued for these matters and will continue to monitor each related legal issue and adjust accruals as might be warranted based on new information and further developments in accordance with ASC 450-20-25. Amounts accrued for legal contingencies often result from a complex series of judgments about future events and uncertainties that rely heavily on estimates and assumptions including timing of related payments. The ability to make such estimates and judgments can be affected by various factors including, among other things, whether damages sought in the proceedings are unsubstantiated or indeterminate; legal discovery has not commenced or is not complete; proceedings are in early stages; matters present legal uncertainties; there are significant facts in dispute; procedural or jurisdictional issues; the uncertainty and unpredictability of the number of potential claims; or there are numerous parties involved. To the extent adverse verdicts have been rendered against the Company, the Company does not record an accrual until a loss is determined to be probable and can be reasonably estimated. In the Company's opinion, based on its examination of these matters, its experience to date and discussions with counsel, the ultimate outcome of legal proceedings, net of liabilities accrued in the Company's Condensed Consolidated Balance Sheets, is not expected to have a material adverse effect on the Company's financial position. However, the resolution of, or increase in accruals for, one or more of these matters in any reporting period may have a material adverse effect on the Company’s results of operations and cash flows for that period.

Debt And Credit Facilities

Debt And Credit Facilities	9 Months Ended
	Oct. 01, 2021
Debt Disclosure [Abstract]
Debt And Credit Facilities	DEBT AND CREDIT FACILITIES The components of the Company’s debt were as follows ($ in millions): October 1, 2021 December 31, 2020 Senior term loan facility due 2024 ($650.0 aggregate principal amount) (the “Term Loan Facility”), net of deferred debt issuance costs of $2.9 and $1.9, respectively $ 647.1 $ 648.1 Senior euro term loan facility due 2024 (€208.0 and €600.0 aggregate principal amount, respectively) (the “Euro Term Loan Facility”), net of deferred debt issuance costs of $0.5 and $1.3, respectively 240.7 731.6 Convertible senior notes due 2025 ($517.5 aggregate principal amount), net of deferred debt issuance costs of $9.4 and $10.8, respectively, and unamortized discount of $81.4 and $95.6, respectively 426.7 411.1 Other — 3.7 Total debt 1,314.5 1,794.5 Less: current portion (426.7) (886.8) Long-term debt $ 887.8 $ 907.7 Unamortized debt issuance costs and discount totaled $94.2 million and $109.6 million as of October 1, 2021 and December 31, 2020, respectively, which have been netted against their respective aggregate principal amounts of the related debt in the table above, and are being amortized to interest expense over the term of the respective debt. Long-Term Indebtedness Credit Agreement On September 20, 2019, the Company entered into a credit agreement (the “Credit Agreement”) with a syndicate of banks under which Envista borrowed approximately $1.3 billion, consisting of the three-year $650.0 million Term Loan Facility and the three-year €600.0 million Euro Term Loan Facility (together with the Term Loan Facility, the “Term Loans”). The Credit Agreement also included the five-year, $250.0 million revolving credit facility (the “Revolving Credit Facility” and together with the Term Loans, the “Senior Credit Facilities”). Pursuant to the Separation Agreement, all of the net proceeds of the Term Loans were paid to Danaher as partial consideration for the Dental business Danaher transferred to Envista, as further discussed in Note 1. On February 9, 2021, in connection with an amendment to the Credit Agreement, the Company repaid $472.0 million of its Euro Term Loan Facility, which was classified as short-term debt as of December 31, 2020. On June 15, 2021, the Company entered into an amended and restated credit agreement (the “Amended Credit Agreement”) with a syndicate of banks including Bank of America, N.A. as administrative agent (the “Administrative Agent”). The Amended Credit Agreement amends and restates the Company’s Credit Agreement, originally dated September 20, 2019 (as amended by Amendment No. 1 to Credit Agreement dated as of May 6, 2020, Amendment No. 2 to Credit Agreement dated as of May 19, 2020, and Amendment No. 3 to Credit Agreement dated as of February 9, 2021). Under the Amended Credit Agreement: (a) the maturity date of the Company’s existing Term Loans has been extended to September 20, 2024, (b) the Revolving Credit Facility has been increased from $250.0 million to $750.0 million, (c) the Company may request further increases to the Revolving Credit Facility in an aggregate amount not to exceed $350.0 million, (d) the amount of cash and cash equivalents permitted to be netted in the definition of “Consolidated Funded Indebtedness” has been increased to up to the greater of (i) $250.0 million and (ii) 50% of Consolidated EBITDA as of the most recent measurement period, and (e) the floor on Eurocurrency rate loans applicable to the Revolving Credit Facility and the Term Loan Facility has been reduced to zero, in each case subject to and in accordance with the terms and conditions of the Amended Credit Agreement. The Company paid fees aggregating approximately $2.1 million in connection with the Amended Credit Agreement. The Revolving Credit Facility includes an aggregate principal amount of $750.0 million with a $20.0 million sublimit for the issuance of standby letters of credit. The Revolving Credit Facility can be used for working capital and other general corporate purposes. As of October 1, 2021 and December 31, 2020, there were no borrowings outstanding under the Revolving Credit Facility. Under the Senior Credit Facilities, borrowings bear interest as follows: (1) Eurocurrency Rate Loans (as defined in the Amended Credit Agreement) bear interest at a variable rate equal to the London inter-bank offered (“LIBOR”) rate plus a margin of between 0.785% and 1.625%, depending on the Company’s Consolidated Leverage Ratio (as defined in the Amended Credit Agreement) as of the last day of the immediately preceding fiscal quarter; and (2) Base Rate Loans (as defined in the Amended Credit Agreement) bear interest at a variable rate equal to (a) the highest of (i) the Federal funds rate (as published by the Federal Reserve Bank of New York from time to time) plus 0.50%, (ii) Bank of America’s “prime rate” as publicly announced from time to time and (iii) the Eurocurrency Rate (as defined in the Amended Credit Agreement) plus 1.0%, plus (b) a margin of between 0.00% and 0.625%, depending on the Company’s Consolidated Leverage Ratio as of the last day of the immediately preceding fiscal quarter. In no event will Eurocurrency Rate Loans or Base Rate Loans bear interest at a rate lower than 0.0%. In addition, the Company is required to pay a per annum facility fee of between 0.09% and 0.225% depending on the Company’s Consolidated Leverage Ratio as of the last day of the immediately preceding fiscal quarter and based on the aggregate commitments under the Revolving Credit Facility, whether drawn or not. The interest rates for borrowings under the Term Loan Facility were 1.25% and 4.25% as of October 1, 2021 and December 31, 2020, respectively. The interest rates for borrowings under the Euro Term Loan Facility were 0.95% and 3.33% as of October 1, 2021 and December 31, 2020, respectively. Interest is payable quarterly for the Term Loans. The Company has entered into interest rate swap derivative contracts for the Term Loan Facility, as further discussed in Note 9. The Amended Credit Agreement requires the Company to maintain a Consolidated Leverage Ratio of 3.75 to 1.00 or less and includes a provision that the maximum Consolidated Leverage Ratio will be increased to 4.25 to 1.00 for the four consecutive full fiscal quarters immediately following the consummation of any acquisition by the Company or any subsidiary of the Company in which the purchase price exceeds $100.0 million. The Amended Credit Agreement also requires the Company to maintain a Consolidated Interest Coverage Ratio (as defined in the Amended Credit Agreement) of at least 3.00 to 1.00. The Amended Credit Agreement contains customary representations, warranties, conditions precedent, events of default, indemnities and affirmative and negative covenants, including covenants that, among other things, limit or restrict the Company’s and/or the Company’s subsidiaries ability, subject to certain exceptions and qualifications, to incur liens or indebtedness, merge, consolidate or sell or otherwise transfer assets, make dividends or distributions, enter into transactions with the Company’s affiliates and use proceeds of the debt financing for other than permitted uses. The Amended Credit Agreement also contains customary events of default. Upon the occurrence and during the continuance of an event of default, the lenders may declare the outstanding advances and all other obligations under the Amended Credit Agreement immediately due and payable. The Company was in compliance with all of its debt covenants as of October 1, 2021. Convertible Senior Notes (the “Notes”) On May 21, 2020, the Company issued the Notes due on June 1, 2025, unless earlier repurchased, redeemed or converted. The aggregate principal amount, which includes the initial purchasers’ exercise in full of their option to purchase an additional $67.5 million principal amount of the Notes, was $517.5 million. The net proceeds from the issuance, after deducting purchasers’ discounts and estimated offering expenses, were $502.6 million. The Company used part of the net proceeds to pay for the capped call transactions (“Capped Calls”) as further described below. The Notes accrue interest at a rate of 2.375% per annum, payable semi-annually in arrears on June 1 and December 1 of each year, beginning on December 1, 2020. The Notes have an initial conversion rate of 47.5862 shares of the Company’s common stock per $1,000 principal amount of Notes, which is equivalent to an initial conversion price of approximately $21.01 per share of the Company’s common stock and is subject to adjustment upon the occurrence of specified events. The Notes are governed by an indenture dated as of May 21, 2020 (the “Indenture”) between the Company and Wilmington Trust, National Association, as trustee. The Indenture does not contain any financial covenants or any restrictions on the payment of dividends, the incurrence of senior debt or other indebtedness or the issuance or repurchase of the Company’s securities by the Company. The Notes are the Company’s senior, unsecured obligations and are (i) equal in right of payment with the Company’s existing and future senior, unsecured indebtedness; (ii) senior in right of payment to the Company’s existing and future indebtedness that is expressly subordinated to the Notes; (iii) effectively subordinated to the Company’s existing and future secured indebtedness, to the extent of the value of the collateral securing that indebtedness; and (iv) structurally subordinated to all existing and future indebtedness and other liabilities, including trade payables, and (to the extent the Company is not a holder thereof) preferred equity, if any, of the Company’s subsidiaries. Holders of the Notes may convert their Notes at any time on or after December 2, 2024 until the close of business on the second scheduled trading day preceding the maturity date. Holders of the Notes will also have the right to convert the Notes prior to December 2, 2024, but only upon the occurrence of specified events. Upon conversion, the Notes will be settled in cash, shares of the Company’s common stock or a combination thereof, at the Company’s election. The Company’s current intent and policy is to settle all Notes conversions through combination settlement, satisfying the principal amount outstanding with cash and any Notes conversion value in excess of the principal amount in shares of the Company’s common stock. If a fundamental change occurs prior to the maturity date, holders of the Notes may require the Company to repurchase all or a portion of their Notes for cash at a repurchase price equal to 100.0% of the principal amount plus any accrued and unpaid interest. In addition, if specific corporate events occur prior to the maturity date, the Company would increase the conversion rate for a holder who elects to convert its Notes in connection with such an event in certain circumstances. As of October 1, 2021 and December 31, 2020, the stock price exceeded 130% of the conversion price of $21.01 in 20 days of the final 30 trading days ended October 1, 2021 and December 31, 2020, which satisfied one of the conditions permitting early conversion by holders of the Notes, therefore, the Notes are classified as short-term debt. The Notes will be redeemable, in whole or in part, at the Company’s option at any time, and from time to time, on or after June 1, 2023 and on or before the 40th scheduled trading day immediately before the maturity date, at a cash redemption price equal to the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding the redemption date, but only if the last reported sale price per share of the Company’s common stock exceeds 130.0% of the conversion price on (i) each of at least 20 trading days, whether or not consecutive, during the 30 consecutive trading days ending on, and including, the trading day immediately before the date the Company sends the related redemption notice; and (ii) the trading day immediately before the date the Company sends such notice. In addition, calling any Note for redemption will constitute a “Make-Whole Fundamental Change” (as defined in the Indenture) with respect to that Note, in which case the conversion rate applicable to the conversion of that Note will be increased in certain circumstances if it is converted after it is called for redemption. In accounting for the issuance of the Notes, the Company separated the Notes into liability and equity components of $410.9 million and $106.6 million, respectively. The carrying amount of the liability component was calculated by measuring the fair value of a similar debt instrument that does not have an associated convertible feature. The carrying amount of the equity component representing the conversion option was determined by deducting the fair value of the liability component from the par value of the Notes. The equity component is not re-measured as long as it continues to meet the conditions for equity classification. The excess of the principal amount of the liability component over its carrying amount (“debt discount”) will be amortized to interest expense over the term of the Notes. The Company allocated the total issuance costs incurred to the liability and equity components of the Notes based on their relative values. Issuance costs attributable to the liability component of $11.9 million were recorded as a reduction to the liability portion of the Notes and will be amortized as interest expense over the term of the Notes. The issuance costs of $3.1 million attributable to the equity component were netted with the equity component in stockholders’ equity. The Company recorded a net deferred tax liability of $20.5 million in connection with the issuance of the Notes, which was recorded to stockholders’ equity. The following table sets forth total interest expense recognized related to the Notes ($ in millions): Three Months Ended Nine Months Ended October 1, 2021 October 2, 2020 October 1, 2021 October 2, 2020 Contractual interest expense $ 3.1 $ 3.1 $ 9.2 $ 4.5 Amortization of debt issuance costs 0.5 0.4 1.4 0.6 Amortization of debt discount 4.9 4.4 14.2 6.4 Total interest expense $ 8.5 $ 7.9 $ 24.8 $ 11.5 For the three and nine months ended October 1, 2021, the debt discount and debt issuance costs were amortized using an annual effective interest rate of 7.3% to interest expense over the term of the Notes. As of October 1, 2021 and December 31, 2020, the if-converted value of the Notes exceeded the outstanding principal amount by $536.0 million and $313.1 million, respectively. Capped Call Transactions In connection with the offering of the Notes, the Company entered into Capped Calls with certain counterparties. The Capped Calls each have an initial strike price of approximately $21.01 per share, subject to certain adjustments, which corresponds to the initial conversion price of the Notes. The Capped Calls have initial cap prices of $23.79 per share, subject to certain adjustments. The Capped Calls cover, subject to anti-dilution adjustments, 2.9 million shares of the Company's common stock. The Capped Calls are generally intended to reduce or offset the potential dilution from shares of common stock issued upon any conversion of the Notes with such reduction or offset, as the case may be, subject to a cap based on the cap price. As the Capped Call transactions are considered indexed to the Company's own stock and are considered equity classified, they are recorded in equity and are not accounted for as derivatives. The cost of $20.7 million incurred in connection with the Capped Calls was recorded as a reduction to additional paid-in capital.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Oct. 01, 2021
Equity [Abstract]
Accumulated Other Comprehensive Loss	ACCUMULATED OTHER COMPREHENSIVE LOSS The changes in accumulated other comprehensive loss by component are summarized below ($ in millions). Foreign Currency Translation Adjustments Unrealized Loss on Cash Flow Hedges Unrealized Pension Costs Total Accumulated Other Comprehensive Loss Three Months Ended October 1, 2021 Balance, July 2, 2021 $ (101.8) $ (3.8) $ (23.3) $ (128.9) Other comprehensive loss before reclassifications: (Decrease) increase (20.2) 1.5 — (18.7) Income tax impact (4.8) (0.4) — (5.2) Other comprehensive loss before reclassifications, net of income taxes (25.0) 1.1 — (23.9) Amounts reclassified from accumulated other comprehensive loss: Increase — — 0.2 0.2 Income tax impact — — — — Amounts reclassified from accumulated other comprehensive income, net of income taxes — — 0.2 0.2 Net current period other comprehensive (loss) income, net of income taxes (25.0) 1.1 0.2 (23.7) Balance, October 1, 2021 $ (126.8) $ (2.7) $ (23.1) $ (152.6) Foreign Currency Translation Adjustments Unrealized Loss on Cash Flow Hedges Unrealized Pension Costs Total Accumulated Other Comprehensive Loss Three Months Ended October 2, 2020 Balance, July 3, 2020 $ (120.5) $ (8.8) $ (27.2) $ (156.5) Other comprehensive income before reclassifications: Increase 4.0 1.9 — 5.9 Income tax impact 14.6 (0.4) — 14.2 Other comprehensive income before reclassifications, net of income taxes 18.6 1.5 — 20.1 Amounts reclassified from accumulated other comprehensive loss: Increase — — 0.3 0.3 Income tax impact — — (0.1) (0.1) Amounts reclassified from accumulated other comprehensive income, net of income taxes — — 0.2 0.2 Net current period other comprehensive income, net of income taxes 18.6 1.5 0.2 20.3 Balance, October 2, 2020 $ (101.9) $ (7.3) $ (27.0) $ (136.2) Foreign Currency Translation Adjustments Unrealized Loss on Cash Flow Hedges Unrealized Pension Costs Total Accumulated Other Comprehensive Loss Nine Months Ended October 1, 2021 Balance, December 31, 2020 $ (62.5) $ (6.3) $ (23.0) $ (91.8) Other comprehensive (loss) income before reclassifications: (Decrease) increase (51.2) 4.8 — (46.4) Income tax impact (13.1) (1.2) — (14.3) Other comprehensive (loss) income before reclassifications, net of income taxes (64.3) 3.6 — (60.7) Amounts reclassified from accumulated other comprehensive loss: Increase — — — — Income tax impact — — (0.1) (0.1) Amounts reclassified from accumulated other comprehensive loss, net of income taxes — — (0.1) (0.1) Net current period other comprehensive (loss) income, net of income taxes (64.3) 3.6 (0.1) (60.8) Balance, October 1, 2021 $ (126.8) $ (2.7) $ (23.1) $ (152.6) Foreign Currency Translation Adjustments Unrealized Gain (Loss) on Cash Flow Hedges Unrealized Pension Costs Total Accumulated Other Comprehensive Loss Nine Months Ended October 2, 2020 Balance, December 31, 2019 $ (116.4) $ 0.1 $ (27.9) $ (144.2) Other comprehensive loss before reclassifications: Increase (decrease) 1.9 (9.8) — (7.9) Income tax impact 12.6 2.4 — 15.0 Other comprehensive income (loss) before reclassifications, net of income taxes 14.5 (7.4) — 7.1 Amounts reclassified from accumulated other comprehensive loss: Increase — — 1.1 1.1 Income tax impact — — (0.2) (0.2) Amounts reclassified from accumulated other comprehensive loss, net of income taxes — — 0.9 0.9 Net current period other comprehensive income (loss), net of income taxes 14.5 (7.4) 0.9 8.0 Balance, October 2, 2020 $ (101.9) $ (7.3) $ (27.0) $ (136.2)

Revenue

Revenue	9 Months Ended
	Oct. 01, 2021
Revenue from Contract with Customer [Abstract]
Revenue	REVENUE The following table presents the Company’s revenues disaggregated by geographical region for the three and nine months ended October 1, 2021 and October 2, 2020 ($ in millions). Sales taxes and other usage-based taxes collected from customers are excluded from revenues. The Company has historically defined emerging markets as developing markets of the world, which prior to the COVID-19 pandemic, have experienced extended periods of accelerated growth in gross domestic product and infrastructure, which includes Eastern Europe, the Middle East, Africa, Latin America and Asia (with the exception of Japan and Australia). The Company defines developed markets as all markets of the world that are not emerging markets. Three Months Ended October 1, 2021 Three Months Ended October 2, 2020 Specialty Products & Technologies Equipment & Consumables Total Specialty Products & Technologies Equipment & Consumables Total Geographical region: North America $ 165.4 $ 164.0 $ 329.4 $ 147.4 $ 157.2 $ 304.6 Western Europe 76.7 27.0 103.7 69.1 25.3 94.4 Other developed markets 23.4 9.3 32.7 22.5 9.0 31.5 Emerging markets 97.9 43.6 141.5 77.9 38.8 116.7 Total $ 363.4 $ 243.9 $ 607.3 $ 316.9 $ 230.3 $ 547.2 Nine Months Ended October 1, 2021 Nine Months Ended October 2, 2020 Specialty Products & Technologies Equipment & Consumables Total Specialty Products & Technologies Equipment & Consumables Total Geographical region: North America $ 502.8 $ 491.9 $ 994.7 $ 354.2 $ 355.5 $ 709.7 Western Europe 267.8 89.3 357.1 172.5 55.7 228.2 Other developed markets 74.2 31.1 105.3 59.5 22.8 82.3 Emerging markets 271.3 128.7 400.0 187.9 104.7 292.6 Total $ 1,116.1 $ 741.0 $ 1,857.1 $ 774.1 $ 538.7 $ 1,312.8 Sales by Major Product Group: Three Months Ended Nine Months Ended ($ in millions) October 1, 2021 October 2, 2020 October 1, 2021 October 2, 2020 Consumables $ 493.7 $ 459.0 $ 1,541.6 $ 1,090.7 Equipment 113.6 88.2 315.5 222.1 Total $ 607.3 $ 547.2 $ 1,857.1 $ 1,312.8 Remaining Performance Obligations Remaining performance obligations include noncancelable purchase orders, extended warranty and service agreements and do not include revenue from contracts with customers with an original term of one year or less. As of October 1, 2021, the aggregate amount of the transaction price allocated to remaining performance obligations was $28.0 million and the Company expects to recognize revenue on the majority of this amount over the next 12 months. Contract Liabilities The Company often receives cash payments from customers in advance of the Company’s performance resulting in contract liabilities. These contract liabilities are classified as either current or long-term in the Condensed Consolidated Balance Sheets based on the timing of when the Company expects to recognize revenue. As of October 1, 2021 and December 31, 2020, the contract liabilities were $61.5 million and $48.2 million, respectively, and are included within accrued expenses and other liabilities and other long-term liabilities in the accompanying Condensed Consolidated Balance Sheets. Revenue recognized during the nine months ended October 1, 2021 and October 2, 2020 that was included in the contract liability balance at December 31, 2020 and December 31, 2019 was $34.4 million and $34.7 million, respectively. Significant Customers Sales to the Company’s largest customer were 12% of sales for both the three and nine months ended October 1, 2021. Sales to the Company’s largest customer were 12% and 9% of sales in the three and nine months ended October 2, 2020, respectively. Seasonality Based on historical experience, the Company generally has more sales in the second half of the calendar year than in the first half of the calendar year, with the first quarter typically having the lowest sales of the year. Based on historical customer buying patterns, the Company generally has more sales in the fourth quarter than in any other quarter of the year, driven in particular by capital spending in the Equipment & Consumables segment. As a result of this seasonality in sales, profitability in the Equipment & Consumables segment also tends to be higher in the second half of the year. There are no assurances that these historical trends will continue in the future and the ongoing COVID-19 pandemic may impact these trends.

Restructuring Activities And Re

Restructuring Activities And Related Impairments	9 Months Ended
	Oct. 01, 2021
Restructuring and Related Activities [Abstract]
Restructuring Activities And Related Impairments	RESTRUCTURING ACTIVITIES AND RELATED IMPAIRMENTS Restructuring Activities The Company’s restructuring activities are undertaken as necessary to implement management’s strategy, streamline operations, take advantage of available capacity and resources, and ultimately achieve net cost reductions. These activities generally relate to the realignment of existing manufacturing capacity and closure of facilities and other exit or disposal activities, as it relates to executing the Company’s strategy, either in the normal course of business or pursuant to significant restructuring programs. The liability related to the Company’s restructuring activities, which is included in accrued liabilities in the Condensed Consolidated Balance Sheets, is summarized below ($ in millions): Employee Severance Facility Exit Total Balance, December 31, 2020 $ 17.8 $ 5.2 $ 23.0 Costs incurred 12.9 3.4 16.3 Paid/settled (17.0) (7.0) (24.0) Balance, October 1, 2021 $ 13.7 $ 1.6 $ 15.3 Restructuring related charges recorded for the three and nine months ended October 1, 2021 and October 2, 2020, by segment, were as follows ($ in millions): Three Months Ended Nine Months Ended October 1, 2021 October 2, 2020 October 1, 2021 October 2, 2020 Specialty Products & Technologies $ 8.2 $ 11.5 $ 15.2 $ 28.0 Equipment & Consumables 0.1 3.8 4.5 20.2 Other 0.3 1.9 4.1 5.6 Total $ 8.6 $ 17.2 $ 23.8 $ 53.8 The restructuring related charges incurred during the three and nine months ended October 1, 2021 and October 2, 2020, are reflected in the following captions in the accompanying Condensed Consolidated Statements of Operations ($ in millions): Three Months Ended Nine Months Ended October 1, 2021 October 2, 2020 October 1, 2021 October 2, 2020 Cost of sales $ 1.0 $ 3.3 $ 6.9 $ 10.3 Selling, general and administrative expenses 7.6 13.9 16.9 43.5 Total $ 8.6 $ 17.2 $ 23.8 $ 53.8

Income Taxes

Income Taxes	9 Months Ended
	Oct. 01, 2021
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The Company’s effective tax rates from continuing operations of (14.7)% and (1.7)% for the three and nine months ended October 1, 2021 differ from the U.S. federal statutory tax rate of 21.0%, primarily due to an income tax benefit from the recognition of an amortizable deferred tax asset associated with the value of a tax basis step-up of certain of the Company’s Swiss assets and a decrease in the valuation allowance on certain of the Company’s Swiss net operating losses in 2021. The Company’s effective tax rates from continuing operations of 38.5% and 31.4% for the three and nine months ended October 2, 2020 differ from the U.S. federal statutory rate of 21.0%, primarily due to the impact of COVID-19 on the Company’s geographical mix of earnings.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	9 Months Ended
	Oct. 01, 2021
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	EARNINGS (LOSS) PER SHARE All earnings (loss) per share are calculated by dividing the applicable income (loss) by the weighted average number of shares of common stock outstanding for the applicable period. Diluted earnings per share is computed based on the weighted average number of common shares outstanding plus the effect of dilutive potential shares outstanding during the period using the treasury stock method. Dilutive potential common shares include employee equity options, non-vested shares and similar instruments granted by the Company and the assumed conversion impact of the Notes. The Company’s current intent and policy is to settle all Notes conversions through a combination settlement by satisfying the principal amount outstanding with cash and any Notes conversion value in excess of the principal amount in shares of the Company’s common stock. As such, the Company uses the treasury stock method for the assumed conversion of the Notes to compute the weighted average shares of common stock outstanding for diluted earnings per share. As the Company intends and has the ability to settle the principal amount of the Notes in cash upon conversion, the Notes do not have an impact on the Company's diluted earnings per share until the average share price of the Company’s common stock exceeds the conversion price of $21.01 per share in any applicable period. See the computation of earnings (loss) per share below for the dilutive impact of the Notes for the three and nine months ended October 1, 2021 and October 2, 2020. In connection with the offering of the Notes, the Company entered into Capped Calls (see further discussion in Note 13), which are intended to reduce or offset the potential dilution from shares of common stock issued upon conversion of the Notes. However, this impact is not included when calculating potentially dilutive shares since their effect is anti-dilutive. The Capped Calls will mitigate dilution from the conversion of the Notes up to the Company’s common stock price of $23.79. If the Notes are converted at a price higher than $23.79 per share, the Capped Calls will no longer mitigate dilution from the conversion of the Notes. The table below presents the computation of basic and diluted earnings (loss) per share ($ and shares in millions, except per share amounts): Three Months Ended Nine Months Ended October 1, 2021 October 2, 2020 October 1, 2021 October 2, 2020 Numerator: Income (loss) from continuing operations $ 80.2 $ 23.6 $ 221.0 $ (48.6) Income (loss) from discontinued operations, net of tax $ 12.7 $ 12.0 $ 33.7 $ (26.5) Net income (loss) $ 92.9 $ 35.6 $ 254.7 $ (75.1) Denominator: Weighted-average common shares outstanding used in basic earnings (loss) per share 161.5 159.7 161.1 159.4 Incremental common shares from: Assumed exercise of dilutive options and vesting of dilutive restricted stock units 4.3 2.0 4.4 — Assumed conversion of the Notes 12.3 2.2 12.0 — Weighted average common shares outstanding used in diluted earnings (loss) per share 178.1 163.9 177.5 159.4 Earnings (loss) per share: Earnings (loss) from continuing operations - basic $ 0.50 $ 0.15 $ 1.37 $ (0.30) Earnings (loss) from continuing operations - diluted $ 0.45 $ 0.14 $ 1.25 $ (0.30) Earnings (loss) from discontinued operations - basic $ 0.08 $ 0.08 $ 0.21 $ (0.17) Earnings (loss) from discontinued operations - diluted $ 0.07 $ 0.07 $ 0.19 $ (0.17) Earnings (loss) - basic $ 0.58 $ 0.22 * $ 1.58 $ (0.47) Earnings (loss) - diluted $ 0.52 $ 0.22 * $ 1.43 * $ (0.47) * Earnings (loss) per share is computed independently for earnings (loss) per share from continuing operations and earnings (loss) per share from discontinued operations. The sum of earnings (loss) per share from continuing operations and earnings (loss) per share from discontinued operations does not equal earnings (loss) per share due to rounding. The following table presents the number of outstanding securities not included in the computation of diluted income per share, because their effect was anti-dilutive (in millions): Three Months Ended Nine Months Ended October 1, 2021 October 2, 2020 October 1, 2021 October 2, 2020 Stock-based awards 1.4 4.2 1.2 1.9 Notes — — — 0.8 Total 1.4 4.2 1.2 2.7

Segment Information

Segment Information	9 Months Ended
	Oct. 01, 2021
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATION The Company operates and reports its results in two separate business segments, the Specialty Products & Technologies and Equipment & Consumables segments. When determining the reportable segments, the Company aggregated operating segments based on their similar economic and operating characteristics. Operating profit represents total revenues less operating expenses, excluding nonoperating income (expense) and income taxes. Operating profit amounts in the Other segment consist of unallocated corporate costs and other costs not considered part of management’s evaluation of reportable segment operating performance. The identifiable assets by segment are those used in each segment’s operations. Inter-segment amounts are not significant and are eliminated to arrive at consolidated totals. The Company’s Specialty Products & Technologies products include implants, prosthetics, orthodontic brackets, aligners and lab products. The Company’s Equipment & Consumables products include traditional consumables such as bonding agents and cements, impression materials, infection prevention products and restorative products, while the Company’s equipment products include digital imaging systems, software and other visualization and magnification systems. On September 7, 2021, the Company entered into a master sale and purchase agreement to sell its KaVo Treatment Unit and Instrument Business, which is part of the Company’s Equipment & Consumables segment. The previously reported amounts for the KaVo Treatment Unit and Instrument Business have been reclassified to discontinued operations for all periods presented. All segment information and descriptions exclude the KaVo Treatment Unit and Instrument Business. Refer to Note 3 for more information on the Company’s discontinued operations. Segment related information is shown below ($ in millions): Three Months Ended Nine Months Ended October 1, 2021 October 2, 2020 October 1, 2021 October 2, 2020 Sales: Specialty Products & Technologies $ 363.4 $ 316.9 $ 1,116.1 $ 774.1 Equipment & Consumables 243.9 230.3 741.0 538.7 Total $ 607.3 $ 547.2 $ 1,857.1 $ 1,312.8 Operating profit (loss) and reconciliation to income (loss) before taxes from continuing operations: Specialty Products & Technologies $ 61.5 $ 41.4 $ 211.6 $ 26.2 Equipment & Consumables 45.4 38.9 131.0 11.0 Other (25.2) (18.7) (82.5) (67.2) Operating profit (loss) 81.7 61.6 260.1 (30.0) Nonoperating income (expense): Other income 0.2 0.2 0.8 0.4 Interest expense, net (12.0) (23.4) (43.6) (41.2) Income (loss) before taxes from continuing operations $ 69.9 $ 38.4 $ 217.3 $ (70.8) Identifiable assets: October 1, 2021 December 31, 2020 Specialty Products & Technologies $ 3,537.3 $ 3,773.3 Equipment & Consumables 1,880.6 1,695.3 Held for Sale 468.0 482.9 Other 676.1 924.5 Total $ 6,562.0 $ 6,876.0

Business And Basis Of Present_2

Business And Basis Of Presentation (Policies)	9 Months Ended
	Oct. 01, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation All revenues and costs as well as assets and liabilities directly associated with the business activity of the Company are included in the financial statements. All significant intercompany accounts and transactions between the businesses comprising the Company have been eliminated in the accompanying Condensed Consolidated Financial Statements. The Condensed Consolidated Financial Statements included herein have been prepared by the Company without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to such rules and regulations; however, the Company believes that the disclosures are adequate to make the information presented not misleading. The accompanying Condensed Consolidated Financial Statements contain all adjustments (consisting of only normal recurring adjustments and reclassifications to conform to current year presentation) necessary to present fairly the financial position of the Company as of October 1, 2021 and December 31, 2020, and its results of operations for the three and nine month periods ended October 1, 2021 and October 2, 2020 and cash flows for the nine month periods ended October 1, 2021 and October 2, 2020. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the Company’s Consolidated and Combined Financial Statements and accompanying notes for the three years ended December 31, 2020, included in the Annual Report on Form 10-K filed by the Company with the SEC on February 19, 2021.
Accounting Standards Recently Adopted and Not Yet Adopted	Accounting Standards Recently Adopted In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. The ASU was effective for public entities for fiscal years beginning after December 15, 2020, with early adoption permitted. The Company adopted this guidance on January 1, 2021, which did not have a significant impact on the Company’s Condensed Consolidated Financial Statements. Accounting Standards Not Yet Adopted In August 2020, the FASB issued ASU 2020-06, Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815 – 40), which simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts on an entity’s own equity. This guidance is part of the FASB’s simplification initiative, which aims to reduce unnecessary complexity in U.S. GAAP. The ASU is effective for public entities for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years. The Company has not yet completed its assessment of the impact of the new standard on the Company’s Condensed Consolidated Financial Statements. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting , which provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships and other transactions that reference London Interbank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued because of reference rate reform, if certain criteria are met. The ASU is effective for public entities as of March 12, 2020 through December 31, 2022. An entity may elect to apply the amendments to eligible hedging relationships existing as of the beginning of the interim period that includes March 12, 2020 and to new eligible hedging relationships entered into after the beginning of the interim period that includes March 12, 2020. If an entity elects to apply any of the amendments for an eligible hedging relationship existing as of the beginning of the interim period that includes March 12, 2020, any adjustments as a result of those elections must be reflected as of the beginning of that interim period and recognized in accordance with the guidance in Reference Rate Reform Subtopics 848-30, 848-40, and 848-50 (as applicable). If an entity elects to apply any of the amendments for a new hedging relationship entered into between the beginning of the interim period that includes March 12, 2020 and March 12, 2020, any adjustments as a result of those elections must be reflected as of the beginning of the hedging relationship and recognized in accordance with the guidance in Reference Rate Reform Subtopics 848-30, 848-40, and 848-50 (as applicable).

Acquisition (Tables)

Acquisition (Tables)	9 Months Ended
	Oct. 01, 2021
Business Combination and Asset Acquisition [Abstract]
Fair Values of Assets Acquired and Liabilities Assumed	The following table summarizes the fair values of the assets acquired and liabilities assumed as of the acquisition date ($ in millions): January 21, 2020 Assets acquired: Cash $ 2.9 Trade accounts receivable 1.0 Inventories 1.9 Prepaid expenses and other current assets 0.2 Property, plant and equipment 0.5 Goodwill 25.1 Other intangible assets 22.3 Total assets acquired 53.9 Liabilities assumed: Trade accounts payable (0.1) Accrued expenses and other liabilities (10.2) Total liabilities assumed (10.3) Total net assets acquired $ 43.6

Discontinued Operations (Tables

Discontinued Operations (Tables)	9 Months Ended
	Oct. 01, 2021
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Discontinued Operations	The carrying amounts of the assets and liabilities of the Divestiture have been reclassified from their historical balance sheet presentation to current and noncurrent assets and current and noncurrent liabilities held for sale as follows: As of October 1, 2021 December 31, 2020 ASSETS Current assets: Trade accounts receivable, less allowance for credit losses of $4.4 and $6.6, respectively $ 57.4 $ 59.3 Inventories, net 53.5 50.9 Prepaid expenses and other current assets 6.7 3.7 Property, plant and equipment, net 27.5 — Operating lease right-of-use assets 2.8 — Other assets 8.2 — Goodwill 212.0 — Other intangible assets, net 99.9 — Current assets held for sale $ 468.0 $ 113.9 Property, plant and equipment, net $ — $ 28.4 Operating lease right-of-use assets — 2.6 Other long-term assets — 8.2 Goodwill — 223.3 Other intangible assets, net — 106.5 Noncurrent assets held for sale $ — $ 369.0 LIABILITIES AND EQUITY Current liabilities: Trade accounts payable $ 20.4 $ 32.6 Accrued expenses and other liabilities 53.5 62.5 Operating lease liabilities 2.7 1.4 Other liabilities 60.5 — Current liabilities held for sale $ 137.1 $ 96.5 Operating lease liabilities $ — $ 1.2 Other long-term liabilities — 61.8 Noncurrent liabilities held for sale $ — $ 63.0 The operating results of the Divestiture are reflected in the Condensed Consolidated Statements of Operations within income (loss) from discontinued operations, net of tax as follows: Three Months Ended Nine Months Ended October 1, 2021 October 2, 2020 October 1, 2021 October 2, 2020 Sales $ 102.5 $ 93.3 302.0 $ 236.8 Cost of sales 57.2 61.1 174.4 182.1 Gross profit 45.3 32.2 127.6 54.7 Operating expenses: Selling, general and administrative 25.2 22.0 70.4 78.1 Research and development 3.8 2.4 12.5 10.1 Operating profit (loss) 16.3 7.8 44.7 (33.5) Income tax expense (benefit) $ 3.6 $ (4.2) $ 11.0 $ (7.0) Income (loss) from discontinued operations $ 12.7 $ 12.0 $ 33.7 $ (26.5) Significant non-cash operating items and capital expenditures for the Divestiture are reflected in the cash flows from operations as follows: Nine Months Ended October 1, 2021 October 2, 2020 Cash flows from operating activities Non-cash restructuring charges $ — $ 9.6 Impairment charges $ — $ 10.3 Depreciation and amortization 1 $ 5.6 $ 9.0 Cash flows from investing activities: Capital expenditures $ 4.2 $ 4.5 1 Depreciation and amortization are no longer recognized once the business is classified as held for sale.

Credit Losses (Tables)

Credit Losses (Tables)	9 Months Ended
	Oct. 01, 2021
Credit Loss [Abstract]
Allowance for Credit Loss	The rollforward of the allowance for credit losses is summarized as follows ($ in millions): Balance at December 31, 2020 $ 30.5 Foreign currency translation (0.8) Provision for credit losses 3.5 Write-offs charged against the allowance (3.6) Recoveries (4.4) Balance at October 1, 2021 $ 25.2

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Oct. 01, 2021
Inventory Disclosure [Abstract]
Schedule of Inventory	The classes of inventory are summarized as follows ($ in millions): October 1, 2021 December 31, 2020 Finished goods $ 232.3 $ 179.3 Work in process 21.1 25.3 Raw materials 82.0 71.8 Reserve for inventory obsolescence (61.1) (60.4) Total $ 274.3 $ 216.0

Property, Plant And Equipment (

Property, Plant And Equipment (Tables)	9 Months Ended
	Oct. 01, 2021
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	The classes of property, plant and equipment are summarized as follows ($ in millions): October 1, 2021 December 31, 2020 Land and improvements $ 10.8 $ 16.9 Buildings and improvements 172.2 148.8 Machinery, equipment and other assets 365.5 342.8 Construction in progress 42.1 84.8 Gross property, plant and equipment 590.6 593.3 Less: accumulated depreciation (324.5) (318.7) Property, plant and equipment, net $ 266.1 $ 274.6

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
	Oct. 01, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Rollforward and Carrying Value Of Goodwill	The following is a rollforward of the Company’s goodwill by segment ($ in millions): Specialty Products & Technologies Equipment & Consumables Total Balance, December 31, 2020 $ 2,099.0 $ 1,108.4 $ 3,207.4 Foreign currency translation (49.7) (11.9) (61.6) Balance, October 1, 2021 $ 2,049.3 $ 1,096.5 $ 3,145.8

Accrued Expenses And Other Li_2

Accrued Expenses And Other Liabilities (Tables)	9 Months Ended
	Oct. 01, 2021
Accrued expenses and other [Abstract]
The Components of Accrued Expenses and Other Liabilities	Accrued expenses and other liabilities were as follows ($ in millions): October 1, 2021 December 31, 2020 Current Noncurrent Current Noncurrent Compensation and benefits $ 163.8 $ 17.0 $ 142.5 $ 13.6 Restructuring-related employee severance, benefits and other 15.3 — 23.0 — Pension benefits 8.5 58.6 8.5 60.6 Taxes, income and other 47.8 200.6 48.3 199.8 Contract liabilities 57.0 4.5 44.6 3.6 Sales and product allowances 68.0 1.2 56.9 0.9 Loss contingencies 10.0 29.1 6.3 33.2 Derivative financial instruments 32.2 — 42.4 27.8 Other 107.3 7.2 95.3 7.5 Total $ 509.9 $ 318.2 $ 467.8 $ 347.0

Hedging Transactions And Deri_2

Hedging Transactions And Derivative Financial Instruments (Tables)	9 Months Ended
	Oct. 01, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments, Gain (Loss)	The following table summarizes the notional values as of October 1, 2021 and October 2, 2020 and pretax impact of changes in the fair values of instruments designated as net investment hedges and cash flow hedges in accumulated other comprehensive loss (“OCI”) for the three and nine months ended October 1, 2021 and October 2, 2020 ($ in millions): Three Months Ended Three Months Ended Notional Amount Gain Recognized in OCI Notional Amount Gain (Loss) Recognized in OCI Interest rate contracts $ 250.0 $ 1.5 $ 450.0 $ 1.9 Foreign currency contracts 650.0 14.1 650.0 (30.7) Foreign currency denominated debt 241.2 5.6 703.0 (28.1) Total $ 1,141.2 $ 21.2 $ 1,803.0 $ (56.9) Nine Months Ended Nine Months Ended Notional Amount Gain Recognized in OCI Notional Amount Loss Recognized in OCI Interest rate contracts $ 250.0 $ 4.8 $ 450.0 $ (9.8) Foreign currency contracts 650.0 33.1 650.0 (20.9) Foreign currency denominated debt 241.2 19.7 703.0 (30.1) Total $ 1,141.2 $ 57.6 $ 1,803.0 $ (60.8)
Schedule of Notional Amounts of Outstanding Derivative Positions	The following table summarizes the notional values as of October 1, 2021 and October 2, 2020 and pretax impact of changes in the fair values of instruments designated as net investment hedges and cash flow hedges in accumulated other comprehensive loss (“OCI”) for the three and nine months ended October 1, 2021 and October 2, 2020 ($ in millions): Three Months Ended Three Months Ended Notional Amount Gain Recognized in OCI Notional Amount Gain (Loss) Recognized in OCI Interest rate contracts $ 250.0 $ 1.5 $ 450.0 $ 1.9 Foreign currency contracts 650.0 14.1 650.0 (30.7) Foreign currency denominated debt 241.2 5.6 703.0 (28.1) Total $ 1,141.2 $ 21.2 $ 1,803.0 $ (56.9) Nine Months Ended Nine Months Ended Notional Amount Gain Recognized in OCI Notional Amount Loss Recognized in OCI Interest rate contracts $ 250.0 $ 4.8 $ 450.0 $ (9.8) Foreign currency contracts 650.0 33.1 650.0 (20.9) Foreign currency denominated debt 241.2 19.7 703.0 (30.1) Total $ 1,141.2 $ 57.6 $ 1,803.0 $ (60.8)
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The Company’s derivative instruments, as well as its non-derivative debt instruments designated and qualifying as net investment hedges, were classified in the Company’s Condensed Consolidated Balance Sheets as follows ($ in millions): October 1, 2021 December 31, 2020 Derivative liabilities: Accrued expenses and other liabilities $ 32.2 $ 70.2 Nonderivative hedging instruments: Short-term debt $ — $ 472.0 Long-term debt $ 241.2 $ 260.9

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Oct. 01, 2021
Fair Value Disclosures [Abstract]
Schedule of Financial Assets And Liabilities At Carrying and Fair Value	A summary of financial assets and liabilities that are measured at fair value on a recurring basis were as follows ($ in millions): Quoted Prices in Significant Other Significant Total October 1, 2021: Liabilities: Interest rate swap derivative contracts $ — $ 3.5 $ — $ 3.5 Cross-currency swap derivative contracts $ — $ 28.7 $ — $ 28.7 Deferred compensation plans $ — $ 15.5 $ — $ 15.5 December 31, 2020: Liabilities: Interest rate swap derivative contracts $ — $ 8.3 $ — $ 8.3 Cross-currency swap derivative contracts $ — $ 61.8 $ — $ 61.8 Deferred compensation plans $ — $ 11.8 $ — $ 11.8 The carrying amounts and fair values of the Company’s financial instruments were as follows ($ in millions): October 1, 2021 December 31, 2020 Carrying Amount Fair Value Carrying Amount Fair Value Liabilities: Interest rate swap derivative contracts $ 3.5 $ 3.5 $ 8.3 $ 8.3 Cross-currency swap derivative contracts $ 28.7 $ 28.7 $ 61.8 $ 61.8 Convertible senior notes due 2025 $ 426.7 $ 1,097.2 $ 411.1 $ 902.7 Long-term debt $ 887.8 $ 887.8 $ 907.7 $ 907.7

Warranty (Tables)

Warranty (Tables)	9 Months Ended
	Oct. 01, 2021
Commitments and Contingencies Disclosure [Abstract]
Warranty Accrual	The following is a rollforward of the Company’s accrued warranty liability ($ in millions): Balance at December 31, 2020 $ 12.4 Accruals for warranties issued during the year 12.1 Settlements made (14.4) Effect of foreign currency translation (0.2) Balance at October 1, 2021 $ 9.9

Debt And Credit Facilities (Tab

Debt And Credit Facilities (Tables)	9 Months Ended
	Oct. 01, 2021
Debt Disclosure [Abstract]
Components Of Debt	The components of the Company’s debt were as follows ($ in millions): October 1, 2021 December 31, 2020 Senior term loan facility due 2024 ($650.0 aggregate principal amount) (the “Term Loan Facility”), net of deferred debt issuance costs of $2.9 and $1.9, respectively $ 647.1 $ 648.1 Senior euro term loan facility due 2024 (€208.0 and €600.0 aggregate principal amount, respectively) (the “Euro Term Loan Facility”), net of deferred debt issuance costs of $0.5 and $1.3, respectively 240.7 731.6 Convertible senior notes due 2025 ($517.5 aggregate principal amount), net of deferred debt issuance costs of $9.4 and $10.8, respectively, and unamortized discount of $81.4 and $95.6, respectively 426.7 411.1 Other — 3.7 Total debt 1,314.5 1,794.5 Less: current portion (426.7) (886.8) Long-term debt $ 887.8 $ 907.7
Components of Note Interest Expense	The following table sets forth total interest expense recognized related to the Notes ($ in millions): Three Months Ended Nine Months Ended October 1, 2021 October 2, 2020 October 1, 2021 October 2, 2020 Contractual interest expense $ 3.1 $ 3.1 $ 9.2 $ 4.5 Amortization of debt issuance costs 0.5 0.4 1.4 0.6 Amortization of debt discount 4.9 4.4 14.2 6.4 Total interest expense $ 8.5 $ 7.9 $ 24.8 $ 11.5

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Oct. 01, 2021
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The changes in accumulated other comprehensive loss by component are summarized below ($ in millions). Foreign Currency Translation Adjustments Unrealized Loss on Cash Flow Hedges Unrealized Pension Costs Total Accumulated Other Comprehensive Loss Three Months Ended October 1, 2021 Balance, July 2, 2021 $ (101.8) $ (3.8) $ (23.3) $ (128.9) Other comprehensive loss before reclassifications: (Decrease) increase (20.2) 1.5 — (18.7) Income tax impact (4.8) (0.4) — (5.2) Other comprehensive loss before reclassifications, net of income taxes (25.0) 1.1 — (23.9) Amounts reclassified from accumulated other comprehensive loss: Increase — — 0.2 0.2 Income tax impact — — — — Amounts reclassified from accumulated other comprehensive income, net of income taxes — — 0.2 0.2 Net current period other comprehensive (loss) income, net of income taxes (25.0) 1.1 0.2 (23.7) Balance, October 1, 2021 $ (126.8) $ (2.7) $ (23.1) $ (152.6) Foreign Currency Translation Adjustments Unrealized Loss on Cash Flow Hedges Unrealized Pension Costs Total Accumulated Other Comprehensive Loss Three Months Ended October 2, 2020 Balance, July 3, 2020 $ (120.5) $ (8.8) $ (27.2) $ (156.5) Other comprehensive income before reclassifications: Increase 4.0 1.9 — 5.9 Income tax impact 14.6 (0.4) — 14.2 Other comprehensive income before reclassifications, net of income taxes 18.6 1.5 — 20.1 Amounts reclassified from accumulated other comprehensive loss: Increase — — 0.3 0.3 Income tax impact — — (0.1) (0.1) Amounts reclassified from accumulated other comprehensive income, net of income taxes — — 0.2 0.2 Net current period other comprehensive income, net of income taxes 18.6 1.5 0.2 20.3 Balance, October 2, 2020 $ (101.9) $ (7.3) $ (27.0) $ (136.2) Foreign Currency Translation Adjustments Unrealized Loss on Cash Flow Hedges Unrealized Pension Costs Total Accumulated Other Comprehensive Loss Nine Months Ended October 1, 2021 Balance, December 31, 2020 $ (62.5) $ (6.3) $ (23.0) $ (91.8) Other comprehensive (loss) income before reclassifications: (Decrease) increase (51.2) 4.8 — (46.4) Income tax impact (13.1) (1.2) — (14.3) Other comprehensive (loss) income before reclassifications, net of income taxes (64.3) 3.6 — (60.7) Amounts reclassified from accumulated other comprehensive loss: Increase — — — — Income tax impact — — (0.1) (0.1) Amounts reclassified from accumulated other comprehensive loss, net of income taxes — — (0.1) (0.1) Net current period other comprehensive (loss) income, net of income taxes (64.3) 3.6 (0.1) (60.8) Balance, October 1, 2021 $ (126.8) $ (2.7) $ (23.1) $ (152.6) Foreign Currency Translation Adjustments Unrealized Gain (Loss) on Cash Flow Hedges Unrealized Pension Costs Total Accumulated Other Comprehensive Loss Nine Months Ended October 2, 2020 Balance, December 31, 2019 $ (116.4) $ 0.1 $ (27.9) $ (144.2) Other comprehensive loss before reclassifications: Increase (decrease) 1.9 (9.8) — (7.9) Income tax impact 12.6 2.4 — 15.0 Other comprehensive income (loss) before reclassifications, net of income taxes 14.5 (7.4) — 7.1 Amounts reclassified from accumulated other comprehensive loss: Increase — — 1.1 1.1 Income tax impact — — (0.2) (0.2) Amounts reclassified from accumulated other comprehensive loss, net of income taxes — — 0.9 0.9 Net current period other comprehensive income (loss), net of income taxes 14.5 (7.4) 0.9 8.0 Balance, October 2, 2020 $ (101.9) $ (7.3) $ (27.0) $ (136.2)

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Oct. 01, 2021
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue by Geographical Region and Type	The following table presents the Company’s revenues disaggregated by geographical region for the three and nine months ended October 1, 2021 and October 2, 2020 ($ in millions). Sales taxes and other usage-based taxes collected from customers are excluded from revenues. The Company has historically defined emerging markets as developing markets of the world, which prior to the COVID-19 pandemic, have experienced extended periods of accelerated growth in gross domestic product and infrastructure, which includes Eastern Europe, the Middle East, Africa, Latin America and Asia (with the exception of Japan and Australia). The Company defines developed markets as all markets of the world that are not emerging markets. Three Months Ended October 1, 2021 Three Months Ended October 2, 2020 Specialty Products & Technologies Equipment & Consumables Total Specialty Products & Technologies Equipment & Consumables Total Geographical region: North America $ 165.4 $ 164.0 $ 329.4 $ 147.4 $ 157.2 $ 304.6 Western Europe 76.7 27.0 103.7 69.1 25.3 94.4 Other developed markets 23.4 9.3 32.7 22.5 9.0 31.5 Emerging markets 97.9 43.6 141.5 77.9 38.8 116.7 Total $ 363.4 $ 243.9 $ 607.3 $ 316.9 $ 230.3 $ 547.2 Nine Months Ended October 1, 2021 Nine Months Ended October 2, 2020 Specialty Products & Technologies Equipment & Consumables Total Specialty Products & Technologies Equipment & Consumables Total Geographical region: North America $ 502.8 $ 491.9 $ 994.7 $ 354.2 $ 355.5 $ 709.7 Western Europe 267.8 89.3 357.1 172.5 55.7 228.2 Other developed markets 74.2 31.1 105.3 59.5 22.8 82.3 Emerging markets 271.3 128.7 400.0 187.9 104.7 292.6 Total $ 1,116.1 $ 741.0 $ 1,857.1 $ 774.1 $ 538.7 $ 1,312.8 Sales by Major Product Group: Three Months Ended Nine Months Ended ($ in millions) October 1, 2021 October 2, 2020 October 1, 2021 October 2, 2020 Consumables $ 493.7 $ 459.0 $ 1,541.6 $ 1,090.7 Equipment 113.6 88.2 315.5 222.1 Total $ 607.3 $ 547.2 $ 1,857.1 $ 1,312.8

Restructuring Activities And _2

Restructuring Activities And Related Impairments (Tables)	9 Months Ended
	Oct. 01, 2021
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	The liability related to the Company’s restructuring activities, which is included in accrued liabilities in the Condensed Consolidated Balance Sheets, is summarized below ($ in millions): Employee Severance Facility Exit Total Balance, December 31, 2020 $ 17.8 $ 5.2 $ 23.0 Costs incurred 12.9 3.4 16.3 Paid/settled (17.0) (7.0) (24.0) Balance, October 1, 2021 $ 13.7 $ 1.6 $ 15.3
Schedule of Restructuring Reserve by Type of Cost	Restructuring related charges recorded for the three and nine months ended October 1, 2021 and October 2, 2020, by segment, were as follows ($ in millions): Three Months Ended Nine Months Ended October 1, 2021 October 2, 2020 October 1, 2021 October 2, 2020 Specialty Products & Technologies $ 8.2 $ 11.5 $ 15.2 $ 28.0 Equipment & Consumables 0.1 3.8 4.5 20.2 Other 0.3 1.9 4.1 5.6 Total $ 8.6 $ 17.2 $ 23.8 $ 53.8 The restructuring related charges incurred during the three and nine months ended October 1, 2021 and October 2, 2020, are reflected in the following captions in the accompanying Condensed Consolidated Statements of Operations ($ in millions): Three Months Ended Nine Months Ended October 1, 2021 October 2, 2020 October 1, 2021 October 2, 2020 Cost of sales $ 1.0 $ 3.3 $ 6.9 $ 10.3 Selling, general and administrative expenses 7.6 13.9 16.9 43.5 Total $ 8.6 $ 17.2 $ 23.8 $ 53.8

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	9 Months Ended
	Oct. 01, 2021
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The table below presents the computation of basic and diluted earnings (loss) per share ($ and shares in millions, except per share amounts): Three Months Ended Nine Months Ended October 1, 2021 October 2, 2020 October 1, 2021 October 2, 2020 Numerator: Income (loss) from continuing operations $ 80.2 $ 23.6 $ 221.0 $ (48.6) Income (loss) from discontinued operations, net of tax $ 12.7 $ 12.0 $ 33.7 $ (26.5) Net income (loss) $ 92.9 $ 35.6 $ 254.7 $ (75.1) Denominator: Weighted-average common shares outstanding used in basic earnings (loss) per share 161.5 159.7 161.1 159.4 Incremental common shares from: Assumed exercise of dilutive options and vesting of dilutive restricted stock units 4.3 2.0 4.4 — Assumed conversion of the Notes 12.3 2.2 12.0 — Weighted average common shares outstanding used in diluted earnings (loss) per share 178.1 163.9 177.5 159.4 Earnings (loss) per share: Earnings (loss) from continuing operations - basic $ 0.50 $ 0.15 $ 1.37 $ (0.30) Earnings (loss) from continuing operations - diluted $ 0.45 $ 0.14 $ 1.25 $ (0.30) Earnings (loss) from discontinued operations - basic $ 0.08 $ 0.08 $ 0.21 $ (0.17) Earnings (loss) from discontinued operations - diluted $ 0.07 $ 0.07 $ 0.19 $ (0.17) Earnings (loss) - basic $ 0.58 $ 0.22 * $ 1.58 $ (0.47) Earnings (loss) - diluted $ 0.52 $ 0.22 * $ 1.43 * $ (0.47) * Earnings (loss) per share is computed independently for earnings (loss) per share from continuing operations and earnings (loss) per share from discontinued operations. The sum of earnings (loss) per share from continuing operations and earnings (loss) per share from discontinued operations does not equal earnings (loss) per share due to rounding.
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following table presents the number of outstanding securities not included in the computation of diluted income per share, because their effect was anti-dilutive (in millions): Three Months Ended Nine Months Ended October 1, 2021 October 2, 2020 October 1, 2021 October 2, 2020 Stock-based awards 1.4 4.2 1.2 1.9 Notes — — — 0.8 Total 1.4 4.2 1.2 2.7

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Oct. 01, 2021
Segment Reporting [Abstract]
Segment Results	Segment related information is shown below ($ in millions): Three Months Ended Nine Months Ended October 1, 2021 October 2, 2020 October 1, 2021 October 2, 2020 Sales: Specialty Products & Technologies $ 363.4 $ 316.9 $ 1,116.1 $ 774.1 Equipment & Consumables 243.9 230.3 741.0 538.7 Total $ 607.3 $ 547.2 $ 1,857.1 $ 1,312.8 Operating profit (loss) and reconciliation to income (loss) before taxes from continuing operations: Specialty Products & Technologies $ 61.5 $ 41.4 $ 211.6 $ 26.2 Equipment & Consumables 45.4 38.9 131.0 11.0 Other (25.2) (18.7) (82.5) (67.2) Operating profit (loss) 81.7 61.6 260.1 (30.0) Nonoperating income (expense): Other income 0.2 0.2 0.8 0.4 Interest expense, net (12.0) (23.4) (43.6) (41.2) Income (loss) before taxes from continuing operations $ 69.9 $ 38.4 $ 217.3 $ (70.8) Identifiable assets: October 1, 2021 December 31, 2020 Specialty Products & Technologies $ 3,537.3 $ 3,773.3 Equipment & Consumables 1,880.6 1,695.3 Held for Sale 468.0 482.9 Other 676.1 924.5 Total $ 6,562.0 $ 6,876.0

Business And Basis Of Present_3

Business And Basis Of Presentation - Narrative (Details) $ / shares in Units, shares in Millions, $ in Millions	Sep. 20, 2019USD ($)$ / sharesshares	Oct. 01, 2021segment
Business Acquisition [Line Items]
Payments to acquire business | $	$ 2,000
Common stock, shares issued (in shares) | shares	127.9
Number of business segments (in segments) | segment		2
IPO
Business Acquisition [Line Items]
Issuance of common stock (in shares) | shares	30.8
Percentage of outstanding share issues in sale of stock	19.40%
Price per share (in USD per share) | $ / shares	$ 22
Proceeds from issuance IPO | $	$ 643.4

Acquisition - Narrative (Detail

Acquisition - Narrative (Details) - Matricel - USD ($) $ in Millions	Jan. 21, 2020	Oct. 01, 2021
Business Acquisition [Line Items]
Consideration transferred	$ 43.6
Weighted-average useful life of acquired intangible assets		10 years

Acquisition - Fair Values of As

Acquisition - Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	Oct. 01, 2021	Dec. 31, 2020	Jan. 21, 2020
Business Acquisition [Line Items]
Goodwill	$ 3,145.8	$ 3,207.4
Matricel
Business Acquisition [Line Items]
Cash			$ 2.9
Trade accounts receivable			1
Inventories			1.9
Prepaid expenses and other current assets			0.2
Property, plant and equipment			0.5
Goodwill			25.1
Other intangible assets			22.3
Total assets acquired			53.9
Trade accounts payable			(0.1)
Accrued expenses and other liabilities			(10.2)
Total liabilities assumed			(10.3)
Total net assets acquired			$ 43.6

Discontinued Operations - Narra

Discontinued Operations - Narrative (Details) - Discontinued Operations, Disposed of by Sale - Plamenca $ in Millions	Sep. 07, 2021USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration	$ 455
Earn-out payment	$ 30

Discontinued Operations - Carry

Discontinued Operations - Carrying Amount of Assets and Liabilities (Details) - USD ($) $ in Millions	Oct. 01, 2021	Dec. 31, 2020	Oct. 02, 2020
Current assets:
Allowance for credit loss	$ 4.4		$ 6.6
Current assets held for sale	468	$ 113.9
Noncurrent assets held for sale	0	369
Current liabilities:
Current liabilities held for sale	137.1	96.5
Noncurrent liabilities held for sale	0	63
Discontinued Operations, Disposed of by Sale | Plamenca
Current assets:
Trade accounts receivable, less allowance for credit losses of $25.2 and $30.5, respectively	57.4	59.3
Inventories, net	53.5	50.9
Prepaid expenses and other current assets	6.7	3.7
Property, plant and equipment, net	27.5	0
Operating lease right-of-use assets	2.8	0
Other assets	8.2	0
Goodwill	212	0
Other intangible assets, net	99.9	0
Current assets held for sale	468	113.9
Property, plant and equipment, net	0	28.4
Operating lease right-of-use assets	0	2.6
Other long-term assets	0	8.2
Goodwill	0	223.3
Other intangible assets, net	0	106.5
Noncurrent assets held for sale	0	369
Current liabilities:
Trade accounts payable	20.4	32.6
Accrued expenses and other liabilities	53.5	62.5
Operating lease liabilities	2.7	1.4
Other liabilities	60.5	0
Current liabilities held for sale	137.1	96.5
Operating lease liabilities	0	1.2
Other liabilities	0	61.8
Noncurrent liabilities held for sale	$ 0	$ 63

Discontinued Operations - Opera

Discontinued Operations - Operating Results (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Oct. 01, 2021	Oct. 02, 2020
Operating expenses:
Income (loss) from discontinued operations, net of tax (refer to Note 3)	$ 12.7	$ 12	$ 33.7	$ (26.5)
Discontinued Operations, Disposed of by Sale | Plamenca
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales	102.5	93.3	302	236.8
Cost of sales	57.2	61.1	174.4	182.1
Gross profit	45.3	32.2	127.6	54.7
Operating expenses:
Selling, general and administrative	25.2	22	70.4	78.1
Research and development	3.8	2.4	12.5	10.1
Operating profit (loss)	16.3	7.8	44.7	(33.5)
Income tax expense (benefit)	3.6	(4.2)	11	(7)
Income (loss) from discontinued operations, net of tax (refer to Note 3)	$ 12.7	$ 12	$ 33.7	$ (26.5)

Discontinued Operations - Signi

Discontinued Operations - Significant Non-Cash Operating Items and Capital Expenditures (Details) - Discontinued Operations, Disposed of by Sale - Plamenca - USD ($) $ in Millions	9 Months Ended
	Oct. 01, 2021	Oct. 02, 2020
Cash flows from operating activities
Non-cash restructuring charges	$ 0	$ 9.6
Impairment charges	0	10.3
Depreciation and amortization	5.6	9
Cash flows from investing activities:
Capital expenditures	$ 4.2	$ 4.5

Credit Losses - Narrative (Deta

Credit Losses - Narrative (Details)	9 Months Ended
	Oct. 01, 2021segment
Credit Loss [Abstract]
Number of portfolio segments (in segments)	1

Credit Losses - Allowance for C

Credit Losses - Allowance for Credit Losses (Details) $ in Millions	9 Months Ended
	Oct. 01, 2021USD ($)
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 30.5
Foreign currency translation	(0.8)
Provision for credit losses	3.5
Write-offs charged against the allowance	(3.6)
Recoveries	(4.4)
Ending balance	$ 25.2

Inventories - Summary (Details)

Inventories - Summary (Details) - USD ($) $ in Millions	Oct. 01, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Finished goods	$ 232.3	$ 179.3
Work in process	21.1	25.3
Raw materials	82	71.8
Reserve for inventory obsolescence	(61.1)	(60.4)
Total	$ 274.3	$ 216

Property, Plant And Equipment_2

Property, Plant And Equipment (Details) - USD ($) $ in Millions	Oct. 01, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 590.6	$ 593.3
Less: accumulated depreciation	(324.5)	(318.7)
Property, plant and equipment, net	266.1	274.6
Land and improvements
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	10.8	16.9
Buildings and improvements
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	172.2	148.8
Machinery, equipment and other assets
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	365.5	342.8
Construction in progress
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 42.1	$ 84.8

Goodwill - Rollforward (Details

Goodwill - Rollforward (Details) $ in Millions	9 Months Ended
	Oct. 01, 2021USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 3,207.4
Foreign currency translation	(61.6)
Ending balance	3,145.8
Specialty Products & Technologies
Goodwill [Roll Forward]
Beginning balance	2,099
Foreign currency translation	(49.7)
Ending balance	2,049.3
Equipment & Consumables
Goodwill [Roll Forward]
Beginning balance	1,108.4
Foreign currency translation	(11.9)
Ending balance	$ 1,096.5

Accrued Expenses And Other Li_3

Accrued Expenses And Other Liabilities - Summary (Details) - USD ($) $ in Millions	Oct. 01, 2021	Dec. 31, 2020
Current
Compensation and benefits	$ 163.8	$ 142.5
Restructuring-related employee severance, benefits and other	15.3	23
Pension benefits	8.5	8.5
Taxes, income and other	47.8	48.3
Contract liabilities	57	44.6
Sales and product allowances	68	56.9
Loss contingencies	10	6.3
Derivative financial instruments	32.2	42.4
Other	107.3	95.3
Total	509.9	467.8
Noncurrent
Compensation and benefits	17	13.6
Restructuring-related employee severance, benefits and other	0	0
Pension benefits	58.6	60.6
Taxes, income and other	200.6	199.8
Contract liabilities	4.5	3.6
Sales and product allowances	1.2	0.9
Loss contingencies	29.1	33.2
Derivative financial instruments	0	27.8
Other	7.2	7.5
Total	$ 318.2	$ 347

Hedging Transactions And Deri_3

Hedging Transactions And Derivative Financial Instruments - Narrative (Details)	Oct. 01, 2021USD ($)	Oct. 01, 2021EUR (€)	Dec. 31, 2020USD ($)	Dec. 31, 2020EUR (€)	Sep. 20, 2019USD ($)	Sep. 20, 2019EUR (€)
Derivative [Line Items]
Total debt	$ 1,314,500,000		$ 1,794,500,000
US term loan due 2024
Derivative [Line Items]
Total debt	647,100,000		648,100,000		$ 650,000,000
Term loan					$ 650,000,000
Euro term loan due 2024
Derivative [Line Items]
Total debt	$ 240,700,000		$ 731,600,000
Term loan | €		€ 208,000,000		€ 600,000,000		€ 600,000,000

Hedging Transactions And Deri_4

Hedging Transactions And Derivative Financial Instruments - Summary of Notional Values and Pretax Impact in Fair Values of Net Investment Hedges (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Oct. 01, 2021	Oct. 02, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Notional Amount	$ 1,141.2	$ 1,803	$ 1,141.2	$ 1,803
Gain (Loss) Recognized in OCI	21.2	(56.9)	57.6	(60.8)
Net investment hedging | Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional Amount	250	450	250	450
Gain (Loss) Recognized in OCI	1.5	1.9	4.8	(9.8)
Net investment hedging | Foreign currency contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional Amount	650	650	650	650
Gain (Loss) Recognized in OCI	14.1	(30.7)	33.1	(20.9)
Net investment hedging | Foreign currency denominated debt
Derivative Instruments, Gain (Loss) [Line Items]
Notional Amount	241.2	703	241.2	703
Gain (Loss) Recognized in OCI	$ 5.6	$ (28.1)	$ 19.7	$ (30.1)

Hedging Transactions And Deri_5

Hedging Transactions And Derivative Financial Instruments - Derivative and Nonderivative Debt Instruments (Details) - USD ($) $ in Millions	Oct. 01, 2021	Dec. 31, 2020
Accrued expenses and other liabilities
Derivatives, Fair Value [Line Items]
Derivative liabilities	$ 32.2	$ 70.2
Short-term debt
Derivatives, Fair Value [Line Items]
Nonderivative hedging instruments	0	472
Long-term debt
Derivatives, Fair Value [Line Items]
Nonderivative hedging instruments	$ 241.2	$ 260.9

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets and Liabilities Carried at Fair Value (Details) - USD ($) $ in Millions	Oct. 01, 2021	Dec. 31, 2020
Liability
Liabilities:
Noncurrent deferred compensation liability	$ 15.5	$ 11.8
Liability | Quoted Prices in Active Market (Level 1)
Liabilities:
Noncurrent deferred compensation liability	0	0
Liability | Significant Other Observable Inputs (Level 2)
Liabilities:
Noncurrent deferred compensation liability	15.5	11.8
Liability | Significant Unobservable Inputs (Level 3)
Liabilities:
Noncurrent deferred compensation liability	0	0
Interest rate swap derivative contracts
Liabilities:
Swap derivative contract liability	3.5	8.3
Interest rate swap derivative contracts | Quoted Prices in Active Market (Level 1)
Liabilities:
Swap derivative contract liability	0	0
Interest rate swap derivative contracts | Significant Other Observable Inputs (Level 2)
Liabilities:
Swap derivative contract liability	3.5	8.3
Interest rate swap derivative contracts | Significant Unobservable Inputs (Level 3)
Liabilities:
Swap derivative contract liability	0	0
Cross-currency swap derivative contracts
Liabilities:
Swap derivative contract liability	28.7	61.8
Cross-currency swap derivative contracts | Quoted Prices in Active Market (Level 1)
Liabilities:
Swap derivative contract liability	0	0
Cross-currency swap derivative contracts | Significant Other Observable Inputs (Level 2)
Liabilities:
Swap derivative contract liability	28.7	61.8
Cross-currency swap derivative contracts | Significant Unobservable Inputs (Level 3)
Liabilities:
Swap derivative contract liability	$ 0	$ 0

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Oct. 01, 2021	Dec. 31, 2020
Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible senior notes due 2025	$ 426.7	$ 411.1
Long-term debt	887.8	907.7
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible senior notes due 2025	1,097.2	902.7
Long-term debt	887.8	907.7
Interest rate swap derivative contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	3.5	8.3
Interest rate swap derivative contracts | Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	3.5	8.3
Interest rate swap derivative contracts | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	3.5	8.3
Cross-currency swap derivative contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	28.7	61.8
Cross-currency swap derivative contracts | Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	28.7	61.8
Cross-currency swap derivative contracts | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	$ 28.7	$ 61.8

Warranty - Narrative (Details)

Warranty - Narrative (Details)	9 Months Ended
	Oct. 01, 2021
Commitments and Contingencies Disclosure [Abstract]
Product warranty period	90 days

Warranty - Warranty Accrual (De

Warranty - Warranty Accrual (Details) $ in Millions	9 Months Ended
	Oct. 01, 2021USD ($)
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Beginning balance	$ 12.4
Accruals for warranties issued during the year	12.1
Settlements made	(14.4)
Effect of foreign currency translation	(0.2)
Ending balance	$ 9.9

Litigation And Contingencies -

Litigation And Contingencies - Narrative (Details) - USD ($) $ in Millions	Oct. 01, 2021	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Accrual for legal matters	$ 39.1	$ 39.5

Debt And Credit Facilities - Co

Debt And Credit Facilities - Components Of Debt (Details)	Oct. 01, 2021USD ($)	Oct. 01, 2021EUR (€)	Dec. 31, 2020USD ($)	Dec. 31, 2020EUR (€)	May 21, 2020USD ($)	Sep. 20, 2019USD ($)	Sep. 20, 2019EUR (€)
Debt Instrument [Line Items]
Total debt	$ 1,314,500,000		$ 1,794,500,000
Less: current portion	(426,700,000)		(886,800,000)
Long-term debt	887,800,000		907,700,000
US term loan due 2024
Debt Instrument [Line Items]
Term loan						$ 650,000,000
Debt issuance costs	2,900,000		1,900,000
Total debt	647,100,000		648,100,000			$ 650,000,000
Euro term loan due 2024
Debt Instrument [Line Items]
Term loan | €		€ 208,000,000		€ 600,000,000			€ 600,000,000
Debt issuance costs	500,000		1,300,000
Total debt	240,700,000		731,600,000
Other
Debt Instrument [Line Items]
Total debt	0		3,700,000
Convertible Debt | Convertible senior notes due 2025
Debt Instrument [Line Items]
Term loan					$ 517,500,000
Debt issuance costs	9,400,000		10,800,000		11,900,000
Unamortized discount	81,400,000		95,600,000
Total debt	$ 426,700,000		$ 411,100,000		$ 410,900,000

Debt And Credit Facilities - Na

Debt And Credit Facilities - Narrative (Details) $ / shares in Units, shares in Millions	Jun. 15, 2021USD ($)	Feb. 09, 2021USD ($)	May 21, 2020USD ($)tradingDay$ / sharesshares	Sep. 20, 2019USD ($)	Oct. 01, 2021USD ($)tradingDay$ / shares	Oct. 02, 2020USD ($)	Dec. 31, 2020USD ($)tradingDay$ / shares	Oct. 01, 2021EUR (€)	Dec. 31, 2020EUR (€)	Sep. 20, 2019EUR (€)
Debt Instrument [Line Items]
Unamortized debt issuance costs and discount					$ 94,200,000		$ 109,600,000
Total borrowings under term loan				$ 1,300,000,000
Senior unsecured revolving credit facility				$ 250,000,000
Rate in excess of Federal funds rate					0.0050			0.0050
Rate in excess of Eurocurrency rate					0.010			0.010
Leverage ratio					3.75			3.75
Contingency provision on the ratio of indebtedness to net capital					4.25			4.25
Contingency provision, purchase price in excess of $100 million					$ 100,000,000
Interest coverage ratio (at least)					3			3
Proceeds from issuance of convertible senior notes					$ 0	$ 517,500,000
Conversion price (in USD per share) | $ / shares					$ 21.01		$ 21.01
Total debt					$ 1,314,500,000		$ 1,794,500,000
US term loan due 2024
Debt Instrument [Line Items]
Debt instrument, term				3 years
Term loan				$ 650,000,000
Loan facility interest rates					1.25%		4.25%
Total debt				$ 650,000,000	$ 647,100,000		$ 648,100,000
Debt issuance costs					$ 2,900,000		$ 1,900,000
Euro term loan due 2024
Debt Instrument [Line Items]
Debt instrument, term				3 years
Term loan | €								€ 208,000,000	€ 600,000,000	€ 600,000,000
Repayment of debt		$ 472,000,000
Loan facility interest rates					0.95%		3.33%
Total debt					$ 240,700,000		$ 731,600,000
Debt issuance costs					500,000		1,300,000
Revolving Credit Facility
Debt Instrument [Line Items]
Senior unsecured revolving credit facility	$ 750,000,000			$ 250,000,000
Increase limit of revolving credit facility	350,000,000
Cash and cash equivalent threshold	$ 250,000,000
EBITDA threshold	0.50
Payments of debt restructuring costs	$ 2,100,000
Revolving credit facility maximum borrowing capacity					750,000,000
Line of credit facility, outstanding borrowings					0		$ 0
Revolving Credit Facility | Standby letters of credit
Debt Instrument [Line Items]
Revolving credit facility maximum borrowing capacity					$ 20,000,000
Minimum
Debt Instrument [Line Items]
Facility fee					0.09%
Maximum
Debt Instrument [Line Items]
Facility fee					0.225%
LIBOR | Minimum | Credit facility
Debt Instrument [Line Items]
Margin spread of variable interest rate					0.785%
LIBOR | Maximum | Credit facility
Debt Instrument [Line Items]
Margin spread of variable interest rate					1.625%
Base Rate | Minimum
Debt Instrument [Line Items]
Margin spread of variable interest rate					0.00%
Base Rate | Maximum
Debt Instrument [Line Items]
Margin spread of variable interest rate					0.625%
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, term				5 years
Convertible Debt | 2.375% convertible senior notes over allotment option
Debt Instrument [Line Items]
Term loan			$ 67,500,000
Convertible Debt | 2.375% convertible senior notes
Debt Instrument [Line Items]
Term loan			517,500,000
Proceeds from issuance of convertible senior notes			$ 502,600,000
Interest rate			2.375%
Conversion price (in USD per share) | $ / shares			$ 21.01
Redemption price			100.00%
Threshold percentage of stock price trigger			130.00%		130.00%		130.00%
Convertible debt, trading days (in trading days) | tradingDay			20		20		20
Convertible debt, consecutive trading days (in trading days) | tradingDay			30		30		30
Total debt			$ 410,900,000		$ 426,700,000		$ 411,100,000
Convertible debt, carrying amount of equity component			106,600,000
Debt issuance costs			11,900,000		$ 9,400,000		10,800,000
Gross debt issuance costs, equity component			3,100,000
Deferred tax liabilities, financing arrangements			$ 20,500,000
Effective interest rate					7.30%			7.30%
If-converted value in excess of principal					$ 536,000,000		$ 313,100,000
Convertible debt, conversion ratio			0.0475862
Convertible Debt | 2.375% convertible senior notes, capped calls
Debt Instrument [Line Items]
Conversion price (in USD per share) | $ / shares			$ 23.79
Convertible debt, stock price trigger (in USD per share) | $ / shares			$ 21.01
Convertible debt, capped calls (in shares) | shares			2.9
Convertible debt expense, capped calls			$ 20,700,000

Debt And Credit Facilities - In

Debt And Credit Facilities - Interest Expense (Details) - Convertible Debt - 2.375% convertible senior notes - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Oct. 01, 2021	Oct. 02, 2020
Debt Instrument [Line Items]
Contractual interest expense	$ 3.1	$ 3.1	$ 9.2	$ 4.5
Amortization of debt issuance costs	0.5	0.4	1.4	0.6
Amortization of debt discount	4.9	4.4	14.2	6.4
Total interest expense	$ 8.5	$ 7.9	$ 24.8	$ 11.5

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Rollforward (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Oct. 01, 2021	Oct. 02, 2020
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period			$ 3,721
Increase (decrease) before reclassifications	$ (18.7)	$ 5.9	(46.4)	$ (7.9)
Income tax impact	(5.2)	14.2	(14.3)	15
Other comprehensive (loss) income before reclassifications, net of income taxes	(23.9)	20.1	(60.7)	7.1
Increase (decrease) reclassified	0.2	0.3	0	1.1
Income tax impact, reclassified	0	(0.1)	(0.1)	(0.2)
Amounts reclassified from accumulated other comprehensive income, net of income taxes	0.2	0.2	(0.1)	0.9
Net current period other comprehensive (loss) income, net of income taxes	(23.7)	20.3	(60.8)	8
Balance, end of period	3,947.1		3,947.1
Foreign Currency Translation Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period	(101.8)	(120.5)	(62.5)	(116.4)
Increase (decrease) before reclassifications	(20.2)	4	(51.2)	1.9
Income tax impact	(4.8)	14.6	(13.1)	12.6
Other comprehensive (loss) income before reclassifications, net of income taxes	(25)	18.6	(64.3)	14.5
Increase (decrease) reclassified	0	0	0	0
Income tax impact, reclassified	0	0	0	0
Amounts reclassified from accumulated other comprehensive income, net of income taxes	0	0	0	0
Net current period other comprehensive (loss) income, net of income taxes	(25)	18.6	(64.3)	14.5
Balance, end of period	(126.8)	(101.9)	(126.8)	(101.9)
Unrealized Loss on Cash Flow Hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period	(3.8)	(8.8)	(6.3)	0.1
Increase (decrease) before reclassifications	1.5	1.9	4.8	(9.8)
Income tax impact	(0.4)	(0.4)	(1.2)	2.4
Other comprehensive (loss) income before reclassifications, net of income taxes	1.1	1.5	3.6	(7.4)
Increase (decrease) reclassified	0	0	0	0
Income tax impact, reclassified	0	0	0	0
Amounts reclassified from accumulated other comprehensive income, net of income taxes	0	0	0	0
Net current period other comprehensive (loss) income, net of income taxes	1.1	1.5	3.6	(7.4)
Balance, end of period	(2.7)	(7.3)	(2.7)	(7.3)
Unrealized Pension Costs
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period	(23.3)	(27.2)	(23)	(27.9)
Increase (decrease) before reclassifications	0	0	0	0
Income tax impact	0	0	0	0
Other comprehensive (loss) income before reclassifications, net of income taxes	0	0	0	0
Increase (decrease) reclassified	0.2	0.3	0	1.1
Income tax impact, reclassified	0	(0.1)	(0.1)	(0.2)
Amounts reclassified from accumulated other comprehensive income, net of income taxes	0.2	0.2	(0.1)	0.9
Net current period other comprehensive (loss) income, net of income taxes	0.2	0.2	(0.1)	0.9
Balance, end of period	(23.1)	(27)	(23.1)	(27)
Total Accumulated Other Comprehensive Loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period	(128.9)	(156.5)	(91.8)	(144.2)
Balance, end of period	$ (152.6)	$ (136.2)	$ (152.6)	$ (136.2)

Revenue - Disaggregation by Rev

Revenue - Disaggregation by Revenue Type and Geographical Region (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Oct. 01, 2021	Oct. 02, 2020
Disaggregation of Revenue [Line Items]
Sales	$ 607.3	$ 547.2	$ 1,857.1	$ 1,312.8
Consumables
Disaggregation of Revenue [Line Items]
Sales	493.7	459	1,541.6	1,090.7
Equipment
Disaggregation of Revenue [Line Items]
Sales	113.6	88.2	315.5	222.1
North America
Disaggregation of Revenue [Line Items]
Sales	329.4	304.6	994.7	709.7
Western Europe
Disaggregation of Revenue [Line Items]
Sales	103.7	94.4	357.1	228.2
Other developed markets
Disaggregation of Revenue [Line Items]
Sales	32.7	31.5	105.3	82.3
Emerging markets
Disaggregation of Revenue [Line Items]
Sales	141.5	116.7	400	292.6
Specialty Products & Technologies
Disaggregation of Revenue [Line Items]
Sales	363.4	316.9	1,116.1	774.1
Specialty Products & Technologies | North America
Disaggregation of Revenue [Line Items]
Sales	165.4	147.4	502.8	354.2
Specialty Products & Technologies | Western Europe
Disaggregation of Revenue [Line Items]
Sales	76.7	69.1	267.8	172.5
Specialty Products & Technologies | Other developed markets
Disaggregation of Revenue [Line Items]
Sales	23.4	22.5	74.2	59.5
Specialty Products & Technologies | Emerging markets
Disaggregation of Revenue [Line Items]
Sales	97.9	77.9	271.3	187.9
Equipment & Consumables
Disaggregation of Revenue [Line Items]
Sales	243.9	230.3	741	538.7
Equipment & Consumables | North America
Disaggregation of Revenue [Line Items]
Sales	164	157.2	491.9	355.5
Equipment & Consumables | Western Europe
Disaggregation of Revenue [Line Items]
Sales	27	25.3	89.3	55.7
Equipment & Consumables | Other developed markets
Disaggregation of Revenue [Line Items]
Sales	9.3	9	31.1	22.8
Equipment & Consumables | Emerging markets
Disaggregation of Revenue [Line Items]
Sales	$ 43.6	$ 38.8	$ 128.7	$ 104.7

Revenue - Remaining Performance

Revenue - Remaining Performance Obligations (Details) $ in Millions	Oct. 01, 2021USD ($)
Revenue from Contract with Customer [Abstract]
Remaining performance obligation	$ 28
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-02
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Expected timing of satisfaction	12 months

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Oct. 01, 2021	Oct. 02, 2020	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Contract liability	$ 61.5		$ 61.5		$ 48.2
Revenue recognized			$ 34.4	$ 34.7
Revenue Benchmark | Customer Concentration Risk | Largest customer
Disaggregation of Revenue [Line Items]
Concentration risk percentage	12.00%	12.00%	12.00%	9.00%

Restructuring Activities And _3

Restructuring Activities And Related Impairments - Schedule Of Restructuring And Related Costs (Details) $ in Millions	9 Months Ended
	Oct. 01, 2021USD ($)
Restructuring Reserve [Roll Forward]
Balance at beginning of year	$ 23
Costs incurred	16.3
Paid/settled	(24)
Balance at end of year	15.3
Employee Severance and Related
Restructuring Reserve [Roll Forward]
Balance at beginning of year	17.8
Costs incurred	12.9
Paid/settled	(17)
Balance at end of year	13.7
Facility Exit and Related
Restructuring Reserve [Roll Forward]
Balance at beginning of year	5.2
Costs incurred	3.4
Paid/settled	(7)
Balance at end of year	$ 1.6

Restructuring Activities And _4

Restructuring Activities And Related Impairments - Schedule Of Restructuring And Other Related Charges By Segment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Oct. 01, 2021	Oct. 02, 2020
Restructuring Cost and Reserve [Line Items]
Costs incurred	$ 8.6	$ 17.2	$ 23.8	$ 53.8
Specialty Products & Technologies
Restructuring Cost and Reserve [Line Items]
Costs incurred	8.2	11.5	15.2	28
Equipment & Consumables
Restructuring Cost and Reserve [Line Items]
Costs incurred	0.1	3.8	4.5	20.2
Other
Restructuring Cost and Reserve [Line Items]
Costs incurred	$ 0.3	$ 1.9	$ 4.1	$ 5.6

Restructuring Activities And _5

Restructuring Activities And Related Impairments - Schedule Of Restructuring Reserve By Type Of Cost (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Oct. 01, 2021	Oct. 02, 2020
Restructuring Cost and Reserve [Line Items]
Costs incurred	$ 8.6	$ 17.2	$ 23.8	$ 53.8
Cost of sales
Restructuring Cost and Reserve [Line Items]
Costs incurred	1	3.3	6.9	10.3
Selling, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Costs incurred	$ 7.6	$ 13.9	$ 16.9	$ 43.5

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details)	3 Months Ended		9 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Oct. 01, 2021	Oct. 02, 2020
Income Tax Disclosure [Abstract]
Effective tax rate	(14.70%)	38.50%	(1.70%)	31.40%

Earnings (Loss) Per Share - Nar

Earnings (Loss) Per Share - Narrative (Details) - $ / shares	Oct. 01, 2021	Dec. 31, 2020	May 21, 2020
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Conversion price (in USD per share)	$ 21.01	$ 21.01
2.375% convertible senior notes | Convertible Debt
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Conversion price (in USD per share)			$ 21.01
Dilution threshold (in USD per share)	$ 23.79

Earnings (Loss) Per Share - Com

Earnings (Loss) Per Share - Components of Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended			9 Months Ended
	Oct. 01, 2021	Oct. 02, 2020		Oct. 01, 2021		Oct. 02, 2020
Numerator:
Income (loss) from continuing operations	$ 80.2	$ 23.6		$ 221		$ (48.6)
Income (loss) from discontinued operations, net of tax (refer to Note 3)	12.7	12		33.7		(26.5)
Net income (loss)	$ 92.9	$ 35.6		$ 254.7		$ (75.1)
Denominator:
Weighted-average common shares outstanding used in basic earnings per share (in shares)	161.5	159.7		161.1		159.4
Assumed exercise of dilutive options and vesting of dilutive restricted stock units (in shares)	4.3	2		4.4		0
Assumed conversion of the Notes (in shares)	12.3	2.2		12		0
Weighted average common shares outstanding used in diluted earnings (loss) per share (in shares)	178.1	163.9		177.5		159.4
Earnings (loss) per share:
Earnings (loss) from continuing operations - basic (in USD per share)	$ 0.50	$ 0.15		$ 1.37		$ (0.30)
Earnings (loss) from continuing operations - diluted (in USD per share)	0.45	0.14		1.25		(0.30)
Earnings (loss) from discontinued operations - basic (in USD per share)	0.08	0.08		0.21		(0.17)
Earnings (loss) from discontinued operations - diluted (in USD per share)	0.07	0.07		0.19		(0.17)
Earnings (loss) - basic (in USD per share)	0.58	0.22	[1]	1.58		(0.47)
Earnings (loss) - diluted (in USD per share)	$ 0.52	$ 0.22	[1]	$ 1.43	[1]	$ (0.47)
[1]	* Earnings (loss) per share is computed independently for earnings (loss) per share from continuing operations and earnings (loss) per share from discontinued operations. The sum of earnings (loss) per share from continuing operations and earnings (loss) per share from discontinued operations does not equal earnings (loss) per share due to rounding.

Earnings (Loss) Per Share - Sec

Earnings (Loss) Per Share - Securities Not Included in the Computation of Diluted Loss Income per Share (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Oct. 01, 2021	Oct. 02, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted (loss) income per share (in shares)	1.4	4.2	1.2	2.7
Stock-based awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted (loss) income per share (in shares)	1.4	4.2	1.2	1.9
Notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted (loss) income per share (in shares)	0	0	0	0.8

Segment Information - Narrative

Segment Information - Narrative (Details)	9 Months Ended
	Oct. 01, 2021segment
Segment Reporting [Abstract]
Number of reportable segments (in segments)	2
Number of operating segments (in segments)	2

Segment Information - Segment R

Segment Information - Segment Results (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Oct. 01, 2021	Oct. 02, 2020	Dec. 31, 2020
Segment Reporting Information [Line Items]
Sales	$ 607.3	$ 547.2	$ 1,857.1	$ 1,312.8
Operating profit (loss)	81.7	61.6	260.1	(30)
Other income	0.2	0.2	0.8	0.4
Interest expense, net	(12)	(23.4)	(43.6)	(41.2)
Income (loss) before income taxes	69.9	38.4	217.3	(70.8)
Identifiable assets	6,562		6,562		$ 6,876
Discontinued Operations, Disposed of by Sale
Segment Reporting Information [Line Items]
Held for Sale	468		468		482.9
Other
Segment Reporting Information [Line Items]
Operating profit (loss)	(25.2)	(18.7)	(82.5)	(67.2)
Identifiable assets	676.1		676.1		924.5
Specialty Products & Technologies
Segment Reporting Information [Line Items]
Sales	363.4	316.9	1,116.1	774.1
Specialty Products & Technologies | Operating segments
Segment Reporting Information [Line Items]
Sales	363.4	316.9	1,116.1	774.1
Operating profit (loss)	61.5	41.4	211.6	26.2
Identifiable assets	3,537.3		3,537.3		3,773.3
Equipment & Consumables
Segment Reporting Information [Line Items]
Sales	243.9	230.3	741	538.7
Equipment & Consumables | Operating segments
Segment Reporting Information [Line Items]
Sales	243.9	230.3	741	538.7
Operating profit (loss)	45.4	$ 38.9	131	$ 11
Identifiable assets	$ 1,880.6		$ 1,880.6		$ 1,695.3