secwatch.observer — SEC 8-K summary
======================================

Issuer:     DENTSPLY SIRONA Inc. (XRAY)
CIK:        0000818479
Form:       8-K
Filed at:   2022-11-01T23:59:59+00:00
Accession:  0001140361-22-039283
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 4.02, 2.06, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Dentsply Sirona to restate 2021 financials; internal investigation finds misconduct, goodwill impairment $1.0-1.3B
--------------------------------------------------------------------------------

- Restating FY2021: Net sales overstated by ~$20M, net income overstated by ~$10M; nine-month 2021 net sales overstated by ~$35M, net income by ~$27M.
- Internal investigation found former CEO/CFO violated Code of Ethics; China team committed intentional wrongdoing by obstructing accounting team.
- Material weaknesses in internal control over financial reporting identified as of Sep 30, 2021 and Dec 31, 2021, still unresolved.
- Expects pre-tax non-cash goodwill and intangible impairment charge of $1.0-1.3B for nine months ended Sep 30, 2022.
- Preliminary Q3 2022 net sales ~$947M; expects sequential net sales to decline low-single digits in Q4 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/818479/000114036122039283/0001140361-22-039283-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/818479/000114036122039283/brhc10043485_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-22-039283

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer