Information included in or incorporated by reference in this Form 10-Q, and other filings with the SEC and the Company’s press releases or other public statements, contains or may contain forward-looking statements. Please refer to the discussion under the header “Forward-Looking Statements and Associated Risks” in the forepart of this Form 10-Q. Company Profile DENTSPLY SIRONA Inc. (“Dentsply Sirona” or the “Company”), is the world’s largest diversified manufacturer of professional dental products and technologies, with a 139-year history of innovation and service to the dental industry and a vision of improving oral health and continence care globally. Dentsply Sirona develops, manufactures, and markets comprehensive solutions, including technologically advanced dental equipment supported by cloud-enabled software solutions as well as dental products and healthcare consumable products in urology and enterology under a strong portfolio of world-class brands. Dentsply Sirona’s innovative products provide high-quality, effective, and connected solutions to advance patient care and deliver better, safer, and faster dentistry. Dentsply Sirona’s worldwide headquarters is located in Charlotte, North Carolina. The Company’s shares of common stock are listed in the United States on the Nasdaq stock market under the symbol XRAY. BUSINESS Segment Descriptions Connected Technology Solutions (“CTS”) This segment includes the design, manufacture, and sales of the Company’s dental technology and equipment products. These products include the Equipment & Instruments and CAD/CAM product categories. Dental CAD/CAM technologies are products designed for dental professionals to support numerous digital workflows for procedures such as dental restorations through integrations with DS Core, our cloud-based platform. Essential Dental Solutions (“EDS”) This segment includes the development, manufacture, and sales of the Company’s value-added endodontic, restorative, and preventive consumable products and small equipment used by dental professionals for the treatment of patients. Offerings in this segment also include specialized treatment products including products used in the creation of dental appliances. Orthodontic and Implant Solutions (“OIS”) This segment includes the design, manufacture, and sales of the Company’s various digital implant systems and innovative dental implant products, digital dentures, and digital orthodontic solutions. Offerings in this segment also include application of our digital services and technology, including those provided by DS Core, our cloud-based platform. Wellspect Healthcare (“Wellspect”) This segment includes the design, manufacture, and sales of the Company’s innovative continence care solutions for both urinary and bowel management. Wellspect Healthcare is a leading global manufacturer and provider of innovative medical devices, including catheters to help people suffering from urinary retention and advanced irrigation systems to help people suffering from chronic or severe constipation, which combine a high degree of user convenience, clinical effectiveness and connectivity into one smart system. The impact of global economic conditions Various headwinds are expected to weigh on global growth for the remainder of 2026, due in large part to increasing uncertainties related to global trade policies and inflation. Changes in trade policy, supply chain constraints, higher energy costs, labor shortages, and geopolitical tensions have all contributed to the risk of higher inflation and general economic uncertainty across the industry and the regions in which the Company operates. The challenging macroeconomic conditions have impacted consumer confidence, the ability and willingness of clinicians to obtain financing to purchase equipment, and consumer discretionary spending for elective procedures, leading to adverse impacts on the Company’s results of operations, particularly in the United States. The Company has taken actions to attempt to mitigate the effects of challenging macroeconomic conditions and may take further actions in the future. 34 Recent tariff policies As disclosed in Part I, Item 1A, “Risk Factors,” of our Annual Report on Form 10-K for the fiscal year ended December 31, 2025 (the “2025 Form 10-K”), the Company’s business is subject to risks related to, among other factors, tariffs and other trade protection measures put in place by the United States and other countries. The U.S. government has implemented and could further implement various tariffs on the importation of certain goods from certain countries, a number of which are or may be applicable to the Company’s supply chain, operations, and sales. Tariffs enacted or proposed by the Trump Administration, together with retaliatory tariffs imposed by other countries, could make it significantly more difficult or costly for the Company to import certain products or materials to the United States, or export products or materials from the United States to other countries. Further, these tariffs remain subject to evolving modifications and court challenges. Currently, a small portion of the products, materials, and components used in our products are imported from China, and a significant number of dental technology and equipment products that we sell in the United States are manufactured in Europe. Europe is also a significant market for sales of our products, including certain consumable products made in the United States, while sales in China represent less than 5% of the Company’s global sales on an annual basis. During the second quarter of 2026, the Company received approximately $44 million of refunds for its prior payment of U.S. tariffs imposed under the International Emergency Economic Powers Act ("IEEPA") on goods imported into the U.S. following legal and regulatory developments affecting the administration of those tariffs. While these refunds favorably impacted the Company’s results of operations and cash flows during the quarter, the future effect of tariffs and trade policies on the Company’s business remains uncertain. We continue to monitor and evaluate the ongoing and potential impacts on our supply chain, costs, net sales, and profitability of the tariffs, changes in trade policy, whether implemented or proposed, and court rulings on the legality of certain tariffs. We have executed actions and continue to evaluate additional strategies to mitigate such impacts, including competitive pricing strategies to offset tariffs and evaluating alternative sourcing options to minimize products sourced from high tariff rate countries, both for existing products and to support new product development. It is difficult to predict with reasonable certainty the impact on our results of operations and customers’ demand for our products from incremental tariffs, changes in trade policy, and related court rulings. For additional information, see Part I, Item 1A, “Risk Factors” in our 2025 Form 10-K. The impact of geopolitical conflicts Geopolitical conflicts are expected to continue to shape market dynamics and pose general threats to financial stability in affected regions, including ongoing tensions from the conflicts in the Middle East and the Russia-Ukraine conflict. Overall, the Company’s operations in Israel, Russia, and Ukraine have not been materially impacted by these conflicts. The Company’s operations in Israel consist of two manufacturing facilities for implants products, with one site in northern Israel and one site in southern Israel, both of which remain open and continue to operate normally. For the six months ended June 30, 2026, net sales of products produced at these sites comprised approximately 3% of our consolidated net sales and approximately 15% of the net sales of the Orthodontic and Implant Solutions segment. Net assets within Israel totaled $130 million as of June 30, 2026, consisting primarily of acquired technology, property, plant and equipment, inventory, and cash associated with our operations in the country. In February 2022, because of the invasion of Ukraine by Russia, the United States, the European Union, and certain other countries imposed economic sanctions on certain Russian financial institutions and businesses and export controls on the export of certain products to Russia. Due to the medical nature of our products, the current sanctions and export controls have not materially restricted our ability to continue selling many of our products to customers located in Russia. For the six months ended June 30, 2026, net sales in Russia and Ukraine were approximately 3% of our consolidated net sales, and net assets in these countries were $99 million as of June 30, 2026. These net assets include $57 million of cash and cash equivalents held within Russia as of June 30, 2026, as well as inventory and trade accounts receivable. Due to currency control measures imposed by the Russian government, which include restrictions on the ability of companies to repatriate or otherwise remit cash from their Russian-based operations to locations outside of Russia, we continue to be limited in our ability to transfer this cash balance out of Russia without incurring substantial costs. Additionally, beginning in September 2024, as a result of further restrictions by European financial institutions on receiving payments from Russia, our capacity to receive intercompany payments for the delivery of our products into Russia has been partially reduced, which further limits our ability to use cash received from sales in Russia for our general purposes. Distribution arrangements We expect changes in the Company’s distribution model, including a reduced emphasis on distributor-held inventory, will likely increase variability in ordering patterns and contribute to fluctuations in net sales and operating income. 35 RESULTS OF OPERATIONS, THREE AND SIX MONTHS ENDED JUNE 30, 2026 COMPARED TO THREE AND SIX MONTHS ENDED JUNE 30, 2025 Net Sales The Company presents net sales comparing the current year periods to the prior year periods. In addition, the Company also presents changes in net sales on a constant currency basis, which is a Non-GAAP measure. The Company defines “constant currency” as the reported net sales adjusted for the impact of foreign currency changes, which is calculated by translating current period net sales using the comparable prior period’s currency exchange rates. Constant currency is an important internal measure for the Company, and its senior management receives a monthly analysis of operating results that includes constant currency. The performance of the Company is measured on this metric along with other performance metrics. The Company discloses changes in constant currency to allow investors to evaluate the performance of the Company’s operations exclusive of the impact of foreign currency changes that may impact the comparability of results from period to period and may not be indicative of past or future performance of the normal operations of the Company. The Company believes that this supplemental information is helpful in understanding underlying net sales trends. The Company’s measure of constant currency may differ from those used by other companies and should not be considered in isolation from, or as a substitute for, measures of financial performance prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). The Company’s geographic regions for reporting net sales consist of countries in (i) North and South America (“Americas”), (ii) Europe, the Middle East, and Africa (“EMEA”), and (iii) Asia Pacific (“APAC”). Prior period net sales amounts have been recast to conform to the current period presentation, reflecting a shift to a regional geographic presentation, which aligns with how the Company manages commercial activities and reports net sales internally. The change in regional geographic presentation was effective as of January 1, 2026. This change did not impact the Company’s consolidated financial statements. Net Sales by Segment Net sales by segment and percentage changes in net sales as reported and on a constant currency basis were as follows: Percentage Change Net Sales by Segment (in millions, except percentages) Three Months Ended June 30, 2026 vs. 2025 Americas EMEA APAC 2026 2025 As Reported1 Constant Currency1 As Reported Constant Currency As Reported Constant Currency As Reported Constant Currency Connected Technology Solutions $ 239 $ 243 (1.5)% (3.8)% (7.5)% (9.4)% (2.1)% (5.7)% 8.8% 9.5% Essential Dental Solutions 376 387 (2.7)% (5.0)% (2.2)% (3.0)% (3.9)% (8.0)% 0.2% (0.8)% Orthodontic and Implant Solutions 197 226 (13.2)% (14.9)% (27.1)% (27.6)% 2.0% (1.5)% (14.9)% (15.6)% Wellspect Healthcare 86 80 7.1% 3.8% (22.5)% (20.9)% 11.9% 7.8% 9.6% 15.2% Total $ 898 $ 936 (4.1)% (6.3)% (10.7)% (11.6)% 0.2% (3.6)% (1.0)% (1.2)% (1) Constant currency sales are a Non-GAAP measure in which the reported net sales are adjusted for the impact of foreign currency changes, which is calculated by translating current period net sales using the comparable prior period’s currency exchange rates. The foreign currency impact is the only reconciling item between as reported and constant currency sales. 36 Percentage Change Net Sales by Segment (in millions, except percentages) Six Months Ended June 30, 2026 vs. 2025 Americas EMEA APAC 2026 2025 As Reported1 Constant Currency1 As Reported Constant Currency As Reported Constant Currency As Reported Constant Currency Connected Technology Solutions $ 485 $ 478 1.4% (3.3)% (2.5)% (4.9)% 2.3% (5.6)% 6.2% 5.3% Essential Dental Solutions 726 740 (1.8)% (6.0)% (4.7)% (5.8)% (1.2)% (9.1)% 7.9% 5.2% Orthodontic and Implant Solutions 396 443 (10.7)% (14.2)% (25.4)% (25.9)% 4.5% (3.0)% (9.3)% (11.1)% Wellspect Healthcare 171 154 10.8% 3.6% (13.1)% (11.0)% 14.9% 6.0% 10.8% 13.0% Total $ 1,778 $ 1,815 (2.1)% (6.5)% (10.0)% (11.1)% 3.4% (4.6)% 2.3% 0.5% (1) Constant currency sales are a Non-GAAP measure in which the reported net sales are adjusted for the impact of foreign currency changes, which is calculated by translating current period net sales using the comparable prior period’s currency exchange rates. The foreign currency impact is the only reconciling item between as reported and constant currency sales. Total net sales The net sales decrease on a constant currency basis for the three months ended June 30, 2026 was driven by lower volumes of OIS products in all regions primarily due to the absence of the Byte business in the Americas, lower volumes of CTS products in the Americas, lower volumes of EDS products in EMEA, and unfavorable pricing in EMEA and APAC across all segments. The decrease was partially offset by favorable pricing in the Americas, higher volumes of CTS products in APAC, and higher volumes of Wellspect products driven by new product introductions. The net sales decrease on a constant currency basis for the six months ended June 30, 2026 was driven by lower volumes in the Americas across all products, including the absence of the Bye business, lower volumes of EDS and OIS products in EMEA, and unfavorable pricing of CTS products in EMEA. The decrease was partially offset by favorable pricing in the Americas and higher volumes of Wellspect products primarily driven by new product introductions. Connected Technology Solutions The net sales decrease on a constant currency basis for the three months ended June 30, 2026 was driven by lower volumes of CAD/CAM products in the Americas and unfavorable pricing in EMEA. The decrease was partially offset by higher volumes of CAD/CAM products in APAC. CAD/CAM products held by distributors in the three months ended June 30, 2026 decreased approximately $20 million from March 31, 2026, compared to a decrease of approximately $19 million in the three months ended June 30, 2025 from March 31, 2025. Imaging products held by distributors in the three months ended June 30, 2026 decreased approximately $8 million from March 31, 2026, compared to a decrease of approximately $5 million in the three months ended June 30, 2025 from March 31, 2025. The net sales decrease on a constant currency basis for the six months ended June 30, 2026 was driven by lower volumes in the Americas and unfavorable pricing in EMEA. The decrease was partially offset by higher volumes in EMEA and CAD/CAM products in APAC. CAD/CAM products held by distributors in the six months ended June 30, 2026 decreased approximately $11 million from December 31, 2025, compared to a decrease of approximately $16 million in the six months ended June 30, 2025 from December 31, 2024. Imaging products held by distributors in the six months ended June 30, 2026 decreased approximately $7 million from December 31, 2025, compared to an increase of approximately $1 million in the six months ended June 30, 2025 compared to December 31, 2024. Distributor inventory levels for both CAD/CAM and imaging products at June 30, 2026 remain below historical averages. 37 Essential Dental Solutions The net sales decrease on a constant currency basis for the three months ended June 30, 2026 was driven by increased promotional activity in the Americas and lower volumes in restorative products. The decrease was partially offset by higher volumes of preventative products in the Americas and higher volumes of endodontic products in APAC. The decrease in volumes in EMEA was, in part, a result of volumes of products sold by distributors to retail customers exceeding volumes of products sold to distributors. We are unable to quantify the impact to net sales for the three months ended June 30, 2026. Changes in inventory levels held by EMEA distributors are expected to impact the amount and timing of net sales in future periods. The net sales decrease on a constant currency basis for the six months ended June 30, 2026 was driven by lower volumes in EMEA and the Americas. The decrease was partially offset by favorable pricing in the Americas and higher volumes in APAC. The decrease in volumes in EMEA was, in part, a result of volumes of products sold to retail customers exceeding inventory volumes of products sold to distributors. We are unable to quantify the impact to net sales for the six months ended June 30, 2026. Changes in inventory levels held by EMEA distributors are expected to impact the amount and timing of net sales in future periods. Orthodontic and Implant Solutions The net sales decrease on a constant currency basis for the three and six months ended June 30, 2026 was driven by the absence of net sales of Byte products in 2026 and lower volumes of implant products. Wellspect Healthcare The net sales increase on a constant currency basis for the three and six months ended June 30, 2026 was driven by higher product volumes in EMEA and the benefit from new product introductions. Gross Profit Three Months Ended June 30, Six Months Ended June 30, (in millions, except percentages) 2026 2025 $ Change % Change 2026 2025 $ Change % Change Gross profit $ 493 $ 490 $ 3 0.6 % $ 920 $ 956 $ (36) (3.8 %) Gross profit as a percentage of net sales 54.9 % 52.4 % 250 bps 51.7 % 52.7 % (100) bps Percentages are based on actual values and may not reconcile due to rounding. The increase in gross profit as a percentage of net sales for the three months ended June 30, 2026 was driven by tariff refunds and favorable foreign currency impacts. The increase was partially offset by lower volumes in the OIS and EDS segments, unfavorable product mix, higher expenses related to tariffs, and the unfavorable pricing as noted in the Net Sales by Segment section. The decrease in gross profit as a percentage of net sales for the six months ended June 30, 2026 was driven by lower volumes as noted in the Net Sales by Segment section and unfavorable product mix. The decrease was partially offset by favorable foreign currency impacts and tariff refunds. 38 Operating Expenses Three Months Ended June 30, Six Months Ended June 30, (in millions, except percentages) 2026 2025 $ Change % Change 2026 2025 $ Change % Change Selling, general, and administrative (“SG&A”) expenses $ 364 $ 342 $ 22 6.7 % $ 715 $ 700 $ 15 2.2 % Research and development (“R&D”) expenses 45 37 8 20.3 % 89 73 16 21.1 % Goodwill and intangible asset impairments — 235 (235) NM — 235 (235) NM Restructuring and other costs 2 4 (2) NM 69 13 56 NM SG&A as a percentage of net sales 40.6 % 36.5 % 410 bps 40.2 % 38.6 % 160 bps R&D as a percentage of net sales 5.0 % 4.0 % 100 bps 5.0 % 4.0 % 100 bps Percentages are based on actual values and may not reconcile due to rounding. NM - Not meaningful Selling, General, and Administrative Expenses The increase in SG&A expenses for both the three and six months ended June 30, 2026 was primarily driven by unfavorable foreign currency impacts. The increase was partially offset by the benefits of restructuring actions, as well as lower professional services and advertising costs. Research and Development Expenses For the three and six months ended June 30, 2026, R&D expenses increased as the Company is increasing allocation of capital to R&D, primarily focused on expanding DS Core to support digital workflows across the Company’s product portfolio and accelerating key projects in all segments. The Company expects a level of investment in R&D of approximately 5% of annual net sales in 2026. Restructuring and Other Costs The Company recorded restructuring and other costs of $2 million and $69 million for the three and six months ended June 30, 2026, and $4 million and $13 million for the three and six months ended June 30, 2025. The expenses in 2026 consisted primarily of severance costs in conjunction with the restructuring plan announced on February 26, 2026. The expenses in 2025 primarily consisted of costs in connection with furthering the execution of various restructuring initiatives announced in prior years. 39 Segment Adjusted Operating Income (loss) Three Months Ended June 30, Six Months Ended June 30, (in millions, except percentages)(a) 2026 2025 $ Change % Change 2026 2025 $ Change % Change Connected Technology Solutions $ (2) $ 12 $ (14) (120.8) % $ (8) $ 19 $ (27) (142.1 %) Essential Dental Solutions 158 151 7 4.1 % 279 287 $ (8) (2.5 %) Orthodontic and Implant Solutions 21 45 (24) (53.1 %) 29 82 $ (53) (64.9 %) Wellspect Healthcare 24 25 (1) (1.7 %) 47 50 $ (3) (7.3 %) Percentages are based on actual values and may not reconcile due to rounding. (a) See Note 6, Segment Information, in the Notes to Unaudited Consolidated Financial Statements in Part I, Item 1 of this Form 10-Q for a reconciliation from segment adjusted operating income to consolidated US GAAP income. Connected Technology Solutions The decrease in segment adjusted operating income for the three months ended June 30, 2026 is due to lower net sales volumes, unfavorable product mix and unfavorable pricing, partially offset by tariff refunds and lower warranty costs. The decrease in segment adjusted operating income for the six months ended June 30, 2026 is due to unfavorable product mix, lower volumes, and unfavorable pricing. The decrease was partially offset by tariff refunds. Essential Dental Solutions The increase in segment adjusted operating income for the three months ended June 30, 2026 is due to tariff refunds, favorable pricing, and favorable headcount costs. The increase was partially offset by lower net sales volumes. The decrease in segment adjusted operating income for the six months ended June 30, 2026 is due to lower net sales volumes. The decrease was partially offset by tariff refunds and favorable pricing. Orthodontic and Implant Solutions The decrease in segment adjusted operating income for the three months ended June 30, 2026 is due to lower net sales volumes, unfavorable pricing, and unfavorable product mix. The decrease was partially offset by tariff refunds and lower professional service costs. The decrease in segment adjusted operating income for the six months ended June 30, 2026 is due to lower net sales volumes and unfavorable product mix. The decrease was partially offset by lower professional services costs, tariff refunds, and favorable foreign currency impacts. Wellspect Healthcare The decrease in segment adjusted operating income for the three months ended June 30, 2026 is due to a one time write-off resulting from a change in manufacturing process. The decrease was partially offset by new products and favorable foreign currency impacts. The decrease in segment adjusted operating income for the six months ended June 30, 2026 is due to unfavorable product mix and a one time write-off resulting from a change in manufacturing process. The decrease was partially offset by new products and favorable foreign currency impacts. 40 Other Income and Expense Three Months Ended June 30, Six Months Ended June 30, (in millions, except percentages) 2026 2025 $ Change % Change 2026 2025 $ Change % Change Interest expense, net $ 22 $ 24 $ (2) (6.2 %) $ 46 $ 43 $ 3 8.0 % Other (income) expense, net (12) 1 (13) NM (29) 1 (30) NM Net interest and other expense (income) $ 10 $ 25 $ (15) $ 17 $ 44 $ (27) Percentages are based on actual values and may not reconcile due to rounding. NM - Not meaningful Interest expense, net Interest expense, net for the three months ended June 30, 2026 decreased compared to the three months ended June 30, 2025 primarily due to lower average debt balances and higher interest income, primarily attributable to the interest income related to tariff refunds. Interest expense, net for the six months ended June 30, 2026 increased compared to the six months ended June 30, 2025 primarily due to higher borrowing costs experienced during the first quarter of 2026. Other (income) expense, net Other (income) expense, net for the three and six months ended June 30, 2026 compared to the three and six months ended June 30, 2025 is as follows: Three Months Ended June 30, Six Months Ended June 30, (in millions, except percentages) 2026 2025 $ Change 2026 2025 $ Change Foreign exchange (loss) gains $ (13) $ 1 $ (14) $ (26) $ — $ (26) Defined benefit pension plan expenses 1 2 (1) 3 3 — Other non-operating (income) expense — (2) 2 (6) (2) (4) Other (income) expense, net $ (12) $ 1 $ (13) $ (29) $ 1 $ (30) Income Taxes and Net Income Three Months Ended June 30, Six Months Ended June 30, (in millions, except percentages) 2026 2025 $ Change 2026 2025 $ Change (Benefit) provision for income taxes $ 36 $ (109) $ 145 $ 4 $ (84) $ 88 Effective income tax rate 50.0 % 71.2 % 13.8 % 76.9 % Net income (loss) attributable to Dentsply Sirona $ 37 $ (45) $ 82 $ 27 $ (25) $ 52 Diluted earnings (loss) per common share $ 0.18 $ (0.22) $ 0.14 $ (0.13) Percentages are based on actual values and may not reconcile due to rounding. Provision for income taxes The effective tax rates for the three months ended June 30, 2026 and 2025 were 50.0% and 71.2%, respectively. The effective tax rates for the six months ended June 30, 2026 and 2025 were 13.8% and 76.9%, respectively. The decrease in the effective tax rate is primarily driven by impairments recorded in the three and six months ended June 30, 2025, along with associated changes in valuation allowances. 41 CRITICAL ACCOUNTING POLICIES AND ESTIMATES There have been no material changes to the critical accounting policies and estimates disclosed in the 2025 Form 10-K. LIQUIDITY AND CAPITAL RESOURCES Six Months Ended June 30, (in millions) 2026 2025 $ Change Cash provided by (used in): Operating activities $ 139 $ 55 $ 84 Investing activities (92) (51) (41) Financing activities (130) 55 (185) Effect of exchange rate changes on cash and cash equivalents (4) 28 (32) Net increase (decrease) in cash and cash equivalents $ (87) $ 87 $ (174) Cash provided by operating activities increased compared to the six months ended June 30, 2025, driven by higher net income, which included $44 million related to tariff refunds received from the U.S. government, lower accounts receivable, and higher accounts payable. At June 30, 2026, the number of days for sales outstanding in accounts receivable decreased by 1 day to 61 days as compared to 62 days at December 31, 2025, and the number of days of sales in inventory increased by 5 days to 136 days at June 30, 2026 as compared to 131 days at December 31, 2025. Cash provided by operating activities was favorably impacted by the receipt of tariff refunds during the six months ended June 30, 2026. Cash used in investing activities increased compared to the six months ended June 30, 2025, primarily driven by higher capital expenditures. The Company estimates capital expenditures to be in the range of approximately $140 million to $160 million for the full year 2026 and expects these investments to include expenses for supply chain equipment upgrades and capacity expansion to support product innovation, expenses associated with DS Core enhancements, and expenses for the new global ERP system. Cash used in financing activities increased compared to the six months ended June 30, 2025 as the prior‑year period included cash inflows provided by the issuance of $550 million of long-term borrowings, a portion of which was used to repay the 364-day bridge loan and other short-term borrowings. The increase is also driven by repayments on long-term borrowings and share repurchases, partially offset by lower dividends paid. On November 7, 2023, the Board of Directors approved an increase to the authorized share repurchase program of $1.0 billion. At June 30, 2026, $1.2 billion of authorization remains available for future share repurchases. For the three and six months ended June 30, 2026, the Company repurchased approximately 1.3 million outstanding shares of common stock through open market purchases at a cost of approximately $12 million. Additional share repurchases, if any, may be made through open market purchases, Rule 10b5-1 plans, accelerated share repurchases, privately negotiated transactions, or other transactions in such amounts and at such times as the Company considers appropriate based upon prevailing market and business conditions and other factors. On February 23, 2026, the Company’s Board of Directors eliminated the declaration of quarterly dividends on the Company’s common stock starting in the quarter ending March 31, 2026. At June 30, 2026, the Company had $683 million of borrowings available under lines of credit, including lines available under its short-term arrangements and revolving credit facility. The Company’s borrowing capacity includes a $700 million multi-currency credit facility which expires in May 2028. The Company also has access to an aggregate $700 million under a U.S. dollar commercial paper facility. The $700 million revolver serves as a back-up to the commercial paper facility, thus the total available credit under the commercial paper facility and the multi-currency revolving credit facility in the aggregate is $700 million. The Company had $35 million in outstanding borrowings under the commercial paper facility at June 30, 2026, resulting in $665 million remaining available under the revolving credit and commercial paper facilities. The Company also has access to $18 million in uncommitted short-term financing under lines of credit from various financial institutions, the availability of which is reduced by other short-term borrowings. The lines of credit have no major restrictions and are provided 42 under demand notes between the Company and the lending institutions. At June 30, 2026, the Company had less than $1 million outstanding under short-term borrowing arrangements. The Company’s revolving credit facility and senior notes contain certain covenants relating to the Company’s operations and financial condition. At June 30, 2026, the Company was in compliance with these covenants. The Company expects on an ongoing basis to be able to finance operating cash requirements, capital expenditures, and debt service from the current cash, cash equivalents, cash flows from operations and amounts available under its existing borrowing facilities. The cash held by foreign subsidiaries for permanent reinvestment is generally used to finance the subsidiaries’ operating activities and future foreign investments. The Company has the ability to repatriate cash to the United States, which could result in an adjustment to the tax liability for foreign withholding taxes, foreign and/or U.S. state income taxes, and the impact of foreign currency movements. At June 30, 2026, management believed that sufficient liquidity was available in the United States and expects this to continue for the next twelve months. The Company has repatriated and expects to continue repatriating certain funds from its non-U.S. subsidiaries that are not needed to finance local operations. Repatriation activities both performed and contemplated to date have not resulted in, and are not expected to result in, any significant incremental tax liability to the Company. The Company continues to review its debt portfolio and may refinance additional debt or add debt in the near term based on strategic capital management. The Company believes there is sufficient liquidity available for the next twelve months. Restructuring Plans On February 24, 2026, the Company’s Board of Directors approved a new restructuring plan (the “2026 Plan”) to improve operational performance and drive stockholder value creation. As of June 30, 2026, the Company has incurred $57 million in non-recurring restructuring charges and paid out approximately $16 million under the 2026 Plan since its inception, primarily related to employee severance payments, benefits, and other transition costs. In total, the Company expects to incur non-recurring charges in the approximate range of $60 million to $65 million related to the 2026 Plan, the majority of which will be expensed and paid in cash in 2026 and 2027. The 2026 Plan is anticipated to result in approximately $120 million in annualized cost savings. The Company intends to reinvest a portion of the anticipated savings in targeted return-to-growth initiatives, including investments in accelerated innovation, clinical education, and sales team education focused on connected dentistry. NEW ACCOUNTING PRONOUNCEMENTS Refer to Part I, Item 1, Note 1, Business and Basis of Presentation, in the Notes to Unaudited Consolidated Financial Statements of this Form 10-Q for a discussion of recent accounting pronouncements.