FAIR VALUE MEASUREMENT

6 Months Ended

Jun. 30, 2025

The estimated fair and carrying values of the Company’s total debt were $2,329 million and $2,402 million, respectively, at June 30, 2025. At December 31, 2024, the estimated fair and carrying values were $2,037 million and $2,135 million, respectively. The fair value of long-term debt is determined by discounting future cash flows using interest rates available at June 30, 2025 and December 31, 2024 and interest rates for companies with similar credit ratings for issuances with similar terms and maturities. It is considered a Level 2 fair value measurement for disclosure purposes.

Assets and liabilities measured at fair value on a recurring basis

The Company’s financial assets and liabilities set forth by level within the fair value hierarchy that were accounted for at fair value on a recurring basis were as follows:



	June 30, 2025
(in millions)	Total		Level 1		Level 2		Level 3

Assets




Foreign exchange forward contracts	$	4	$	—	$	4	$	—

Total assets	$	4	$	—	$	4	$	—

Liabilities
Interest rate swaps	$	15	$	—	$	15	$	—

Cross currency basis swaps	11		—		11		—
Foreign exchange forward contracts	99		—		99		—


Total liabilities	$	125	$	—	$	125	$	—



	December 31, 2024
(in millions)	Total		Level 1		Level 2		Level 3

Assets




Cross currency basis swaps	$	18	$	—	$	18	$	—
Foreign exchange forward contracts	18		—		18		—

Total assets	$	36	$	—	$	36	$	—

Liabilities
Interest rate swaps	$	21	$	—	$	21	$	—


Foreign exchange forward contracts	9		—		9		—

Contingent consideration on acquisitions	4		—		—		4

Total liabilities	$	34	$	—	$	30	$	4

Derivative valuations are based on observable inputs to the valuation model including interest rates, foreign currency exchange rates, and credit risks.

There were no transfers between fair value measurement levels during the six months ended June 30, 2025.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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Reference 2: http://www.xbrl.org/2003/role/exampleRef
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Reference 3: http://www.xbrl.org/2003/role/exampleRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
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+ Details

DENTSPLY SIRONA Inc. 10-Q