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NVST on NYSE

Envista Holdings Corporation

Logo: envistaco.com4

Dental business based in Brea1

In its 2026 annual report the company says: “We help our customers deliver the best possible patient care through industry-leading products, solutions, and technology. We are one of the largest global dental products companies, with strong positions in some of the most attractive segments of the dental products industry. We serve dental professionals in over 130 countries through one of the largest commercial organizations in the dental products industry and through our distribution partners.”7 Its shares trade on NYSE under the symbol NVST.1

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Last updated Oct 21, 2026.

Overview

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  • TickerNVST on NYSE1
  • IndustryDental Equipment & Supplies1
  • HeadquartersBrea1
  • Websiteenvistaco.com
  • Legal formDelaware corporation1
  • Incorporated inDE5
  • Business address200 S. Kraemer Blvd., Bldg. E, Brea, Ca 928215
  • Filer categoryLarge accelerated filer5
  • LEI549300BX623VURJZ52693
  • StatusActive3
  • LEI statusIssued and current3
  • Registered addressC/O THE CORPORATION TRUST COMPANY, 19801 Wilmington, United States3
  • Registered withDivision of Corporations, Department of State, 70346243

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Envista Holdings Corporation image from its website
Image: envistaco.com6

Envista is a global family of more than 30 trusted dental brands, including Nobel Biocare, Ormco, DEXIS, and Kerr, united by a shared purpose: to partner with professionals to improve lives. We help our customers deliver the best possible patient care through industry-leading products, solutions, and technology. Our comprehensive portfolio, including dental implants and treatment options, orthodontics, and digital imaging technologies, covers a wide range of dentists' clinical needs for diagnosing, treating, and preventing dental conditions as well as improving the human smile. We further support the dental community with leading solutions in restoratives, endodontics, rotary, infection prevention, and loupes.7 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

54.7%Gross margin8
7.9%Operating margin8
1.7%Net margin8
8.3%Revenue growth, 20258
1.5%Return on equity8
0.47×Debt to equity8
$230.4MFree cash flow8

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Specialty Products and Technologies brought in 64% of the revenue Envista Holdings Corporation broke down this way in fiscal 2025.

  1. Specialty Products and Technologies$1.8B864%up 8% from 2024
  2. Equipment and Consumables$966.7M836%up 8% from 2024
Business segments by year
Business segments202320242025
Specialty Products and Technologies$1.6B$1.6B$1.8B
Equipment and Consumables$924.1M$894.2M$966.7M

Regions

United States brought in 32% of the revenue Envista Holdings Corporation broke down this way in fiscal 2025.

  1. United States$1.3B832%up 7% from 2024
  2. All Other Countries$1.2B831%up 12% from 2024
  3. Western Europe$615.3M815%up 13% from 2024
  4. High-Growth Markets$586.2M814%up 9% from 2024
  5. China$194.4M85%up 0% from 2024
  6. Other Developed Markets$122.8M83%up 2% from 2024
Regions by year
Regions202320242025
United States$1.2B$1.2B$1.3B
All Other Countries$1.2B$1.1B$1.2B
Western Europe$546.0M$615.3M
High-Growth Markets$539.0M$586.2M
China$205.7M$193.5M$194.4M
Other Developed Markets$120.3M$122.8M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue45¢$1.2B
  • Research and development4¢$114.0M
  • Selling, general and admin43¢$1.2B
  • Other costs1¢$38.9M
  • Income tax5¢$130.2M
  • Profit2¢$47.0M

Out of $2.7B in revenue.8

Where each dollar of operating cash went, fiscal 2025

  • Capital spending16¢$45.3M
  • Kept or used elsewhere84¢$230.4M

Out of $275.7M of cash from operations.8

Financial statements

Revenue91011128$2.7B in 2025+19% since 2019
0$1.0B$2.0B$3.0B2019: $2.3B$2.3B20192020: $1.9B$1.9B2020−16%2021: $2.5B$2.5B2021+30%2022: $2.6B$2.6B2022+2%2023: $2.6B$2.6B2023−0%2024: $2.5B$2.5B2024−2%2025: $2.7B$2.7B2025+8%
Gross profit91011128$1.5B in 2025+10% since 2019
0$500.0M$1.0B$1.5B2019: $1.3B$1.3B20192020: $1.1B$1.1B2020−22%2021: $1.4B$1.4B2021+35%2022: $1.5B$1.5B2022+3%2023: $1.4B$1.4B2023−2%2024: $1.4B$1.4B2024−5%2025: $1.5B$1.5B2025+8%
Operating income91011128$216.1M in 2025−8% since 2019
-$1.5B-$1.0B-$500.0M0$500.0M2019: $235.7M$235.7M20192020: $43.5M$43.5M2020−82%2021: $306.2M$306.2M2021+604%2022: $319.2M$319.2M2022+4%2023: $31.5M$31.5M2023−90%2024: -$1.0B-$1.0B20242025: $216.1M$216.1M2025
Net income91011128$47.0M in 2025−78% since 2019
-$1.5B-$1.0B-$500.0M0$500.0M2019: $217.6M$217.6M20192020: $33.3M$33.3M2020−85%2021: $340.5M$340.5M2021+923%2022: $243.1M$243.1M2022−29%2023: -$100.2M-$100.2M20232024: -$1.1B-$1.1B2024+1016%2025: $47.0M$47.0M2025

Every line of the income statement as filed: the last 3 fiscal years, latest first.8

Period ending2025-12-312024-12-312023-12-31
Sales$2.7B$2.5B$2.6B
Cost of sales$1.2B$1.1B$1.1B
Gross profit$1.5B$1.4B$1.4B
Selling, general and administrative$1.2B$1.2B$1.1B
Research and development$114.0M$99.1M$93.8M
Goodwill and intangible asset impairments$0$1.2B$258.3M
Operating profit (loss)$216.1M-$1.0B$31.5M
Other expense, net-$2.3M-$100.0K-$23.0M
Interest expense, net-$36.6M-$46.4M-$63.4M
Income (loss) before income taxes$177.2M-$1.1B-$54.9M
Income tax expense$130.2M$33.9M$45.3M
Net income (loss)$47.0M-$1.1B-$100.2M
Earnings (Loss) - basic (in USD per share)$0.28-$6.50-$0.60
Earnings (Loss) - diluted (in USD per share)$0.28-$6.50-$0.60
Basic (in shares)168.0M shares172.2M shares166.9M shares
Diluted (in shares)169.2M shares172.2M shares166.9M shares

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Corporate structure

Envista Holdings Corporation sits at the top of its group. 2 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Envista Holdings Corporation

  • Envista Holdings Corporation Brea, California, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Envista Holdings Corporation reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$704.5M8 Dec 31, 2025$641.1M8 Dec 31, 2024+9.9%
Accumulated depreciation$407.7M8 Dec 31, 2025$364.1M8 Dec 31, 2024+12.0%
Property and equipment, net$296.8M8 Dec 31, 2025$277.0M8 Dec 31, 2024+7.1%
Operating-lease assets (leased space)$142.1M8 Dec 31, 2025$142.8M8 Dec 31, 2024−0.5%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$1.2B8 Dec 31, 2025$1.1B8 Dec 31, 2024+13.3%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$2.4B8 Dec 31, 2025$2.3B8 Dec 31, 2024+4.3%
Intangible assets, net (excluding goodwill)$627.2M8 Dec 31, 2025$649.9M8 Dec 31, 2024−3.5%
Finite-lived intangibles, gross$1.5B8 Dec 31, 2025$1.4B8 Dec 31, 2024+5.5%
Accumulated amortization$1.2B8 Dec 31, 2025$1.0B8 Dec 31, 2024+12.3%
Finite-lived intangibles, net$265.1M8 Dec 31, 2025$313.3M8 Dec 31, 2024−15.4%

Inventory

ItemLatestA year beforeChange
Inventory, total$288.1M8 Dec 31, 2025$241.0M8 Dec 31, 2024+19.5%
Raw materials$89.4M8 Dec 31, 2025$91.0M8 Dec 31, 2024−1.8%
Work in process$36.6M8 Dec 31, 2025$25.1M8 Dec 31, 2024+45.8%
Finished goods$212.6M8 Dec 31, 2025$181.6M8 Dec 31, 2024+17.1%

Properties, in its own words

Our corporate headquarters are located in Brea, California in a facility that we lease. As of December 31, 2025, our facilities included approximately 32 significant office, research and development, manufacturing and distribution facilities. Twelve of these facilities are located in the U.S. in five states and 20 are located outside the U.S. in 13 other countries, primarily in Europe and to a lesser extent in Asia, the rest of North America, Latin America and the Middle East. These facilities cover approximately 2.6 million square feet, of which approximately 0.5 million square feet are owned and approximately 2.1 million square feet are leased. Particularly outside the U.S., facilities often serve more than one business segment and may be used for multiple purposes, such as administration, sales, manufacturing, warehousing and/or distribution.

We consider our facilities suitable and adequate for the purposes for which they are used and do not anticipate difficulty in renewing existing leases as they expire or in finding alternative facilities. We believe our properties and equipment have been well-maintained. Please refer to Note 7 to our Consolidated Financial Statements for additional information with respect to our lease commitments.

Item 2 of the 10-K filed Feb 12, 2026.7

Leadership

Who has led Envista Holdings Corporation, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Amir Aghdaei2019–2024
  2. Paul A. Keel2024–now

President

  1. Amir Aghdaei2019–2020
  2. Robert Befidi2024
  3. Stefan Nilsson2024–now
  4. Veronica Acurio2024–now

Chief financial officer

  1. Howard H. Yu2019–2023
  2. Eric D. Hammes2024–now
20202025
Board members and other officers (24)

Subsidiaries and ownership

Subsidiaries

From Wikidata.1

Acquisitions

  1. 2022Acquired Kerr Corporation1
  2. 2019Acquired KaVo Dental1

Timeline

  1. Sep 17, 20268-K Regulation FD disclosure45
  2. Aug 19, 20268-K Executive or director change; Other events46
  3. Aug 5, 20268-K Results of operations; Regulation FD disclosure47
  4. Jun 3, 20268-K Executive or director change48
  5. May 21, 20268-K Shareholder vote49
  6. May 6, 20268-K Results of operations; Regulation FD disclosure50
  7. Feb 5, 20268-K Results of operations; Regulation FD disclosure51
  8. Oct 29, 20258-K Regulation FD disclosure52
  9. Oct 29, 20258-K Results of operations; Regulation FD disclosure53
  10. Sep 17, 20258-K Executive or director change54
  11. Jul 31, 20258-K Results of operations; Regulation FD disclosure55
  12. Jul 16, 20258-K Executive or director change56
  13. May 2, 2024New chief executive Paul A. Keel becomes CEO16
  14. Sep 17, 2019New chief executive Amir Aghdaei becomes CEO17
  15. Aug 29, 2018Founded Envista Holdings Corporation is founded3

Calendar

Coming up

  1. Nov 4, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $0.32 a share, on Oct 29, 2025.57

When it reported results

  1. Aug 5, 2026Reported quarterly or annual results47
  2. May 6, 2026Reported quarterly or annual results50
  3. Feb 5, 2026Reported quarterly or annual results51
  4. Oct 29, 2025Reported quarterly or annual results53
  5. Jul 31, 2025Reported quarterly or annual results55
  6. May 1, 2025Reported quarterly or annual results58
  7. Feb 5, 2025Reported quarterly or annual results59
  8. Oct 30, 2024Reported quarterly or annual results60

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

341 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 55 major events, 190 insider forms, 39 large holders, 37 other. The latest 20:

  1. Sep 17, 20268-K EDGAR
  2. Aug 27, 20264 EDGAR
  3. Aug 27, 20264 EDGAR
  4. Aug 27, 20264 EDGAR
  5. Aug 27, 20264 EDGAR
  6. Aug 24, 20264 EDGAR
  7. Aug 20, 2026144 EDGAR
  8. Aug 20, 20264 EDGAR
  9. Aug 20, 20264 EDGAR
  10. Aug 19, 20268-K EDGAR
  11. Aug 13, 20263 EDGAR
  12. Aug 5, 202610-Q EDGAR
  13. Aug 5, 20268-K EDGAR
  14. Jun 3, 20268-K EDGAR
  15. May 28, 2026SD EDGAR
  16. May 27, 20264 EDGAR
  17. May 21, 20264 EDGAR
  18. May 21, 20268-K EDGAR
  19. May 21, 20264 EDGAR
  20. May 21, 20264 EDGAR

The 341 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

36 open-market trades by officers, directors and large owners since October 2021: 6 buys and 30 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 20, 2026Reis MischaSVP, Strategy & Bus. Dev.Sale8,000$27.50$220.0KForm 4
Feb 10, 2026Reis MischaSVP, Strategy & Bus. Dev.Sale9,675$30.00$290.2KForm 4
Aug 25, 2025Reis MischaSVP, Strategy & Bus. Dev.Sale15,000$21.60$324.0KForm 4
Aug 13, 2024Keel Paul AChief Executive OfficerBuy30,000$16.87$506.1KForm 4
Aug 12, 2024Hammes Eric D.Chief Financial OfficerBuy24,532$16.33$400.6KForm 4
Nov 16, 2023Conley EricSVP, OrthodonticsBuy2,185$22.89$50.0KForm 4
Nov 8, 2023Nance Mark EGeneral CounselBuy5,000$21.75$108.8KForm 4
Nov 6, 2023Aghdaei AmirChief Executive OfficerBuy10,000$21.53$215.3KForm 4
Nov 6, 2023Keller StephenPrincipal Financial OfficerBuy2,000$21.53$43.1KForm 4
Feb 28, 2023Yu Howard HChief Financial OfficerSale10,016$37.90$379.6KForm 4
Nov 17, 2022Yu Howard HChief Financial OfficerSale657$36.55$24.0KForm 4
Apr 18, 2022Yu Howard HChief Financial OfficerSale5,341$45.73$244.2KForm 4
Mar 29, 2022Aghdaei AmirChief Executive OfficerSale10,538$51.66$544.4KForm 4
Mar 21, 2022Aghdaei AmirChief Executive OfficerSale114,702$50.85$5.8MForm 4
Mar 21, 2022Yu Howard HChief Financial OfficerSale4,786$50.86$243.4KForm 4
Mar 18, 2022Aghdaei AmirChief Executive OfficerSale10,538$49.66$523.3KForm 4
Mar 18, 2022Reis MischaSVP, Strategy & Bus. Dev.Sale10,092$50.00$504.6KForm 4
Mar 18, 2022Yu Howard HChief Financial OfficerSale19,752$50.04$988.4KForm 4
Mar 17, 2022Aghdaei AmirChief Executive OfficerSale114,702$49.01$5.6MForm 4
Mar 16, 2022Aghdaei AmirChief Executive OfficerSale14,050$47.66$669.6KForm 4

All 36 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Paul KeelPresident & CEO56$1.1M$10.6M74
2025Eric HammesChief Financial Officer$592.3K$2.6M74
2025Mark NanceSVP and General Counsel$559.6K$2.6M74
2025Veronica AcurioPresident, Orthodontics$550.0K$2.2M74
2025Robert BefidiPresident, Diagnostics$567.3K$1.9M74
2024Paul KeelPresident & CEO56$689.6K$23.8M74
2024Mark NanceSVP and General Counsel$525.0K$3.1M74
2024Eric HammesChief Financial Officer$214.5K$2.8M74
2024Robert BefidiPresident, Diagnostics$550.0K$2.3M74
2023Mark NanceSVP and General Counsel$525.0K$1.5M74

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.18,437,542$485.8M0.0%+584,715
Ariel Investments, LLC9,818,177$258.7M2.6%−1,045,415
Dimensional Fund Advisors LP9,566,949$252.1M0.0%−213,999
Vanguard Portfolio Management LLC7,487,670$197.3M0.0%−79,051
Vanguard Capital Management LLC7,337,916$193.4M0.0%+19,335
Morgan Stanley6,436,043$169.6M0.0%−2,357,094
Gates Capital Management, Inc.5,552,383$146.3M4.8%+189,672
State Street Corp5,329,275$140.5M0.0%+100,517
Alliancebernstein L.P.5,213,644$132.3M0.0%+185,033
Arrowstreet Capital, Limited Partnership4,847,940$127.7M0.1%+1,989,647
Franklin Resources Inc4,810,040$126.7M0.0%−2,083,985
Victory Capital Management Inc4,494,346$118.4M0.1%+101,278
Ilex Capital Partners (UK) LLP4,372,709$115.2M2.4%New
Quantinno Capital Management LP4,194,886$110.5M0.1%+1,499,916
Aqr Capital Management LLC4,023,691$106.0M0.0%+1,405,574
Neuberger Berman Group LLC3,876,747$102.2M0.1%+3,864,108
Fuller & Thaler Asset Management, Inc.3,642,097$96.0M0.3%−131,655
Jpmorgan Chase & Co3,304,946$89.5M0.0%+388,702
Geode Capital Management, LLC3,150,508$83.0M0.0%+1,213
American Century Companies Inc3,052,519$80.4M0.0%−149,107
Massachusetts Financial Services Co /ma/2,913,844$78.5M0.0%+15,058
Harris Associates L P2,756,781$72.6M0.1%−505,115
Bank Of America Corp /de/2,743,403$72.3M0.0%+552,918
Deerfield Management Company, L.P.2,210,100$58.2M0.7%No change
UBS Group AG2,120,131$55.9M0.0%+1,339,174

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

1 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Jun 6, 2024Pete SessionsRepublican, HouseSale$1,001 - $15,000+16.9%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How Envista Holdings Corporation is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGAREnvista Holdings Corp2
  • CIK0001757073
  • Employer ID (EIN)83-22067287
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company7
  • Incorporated inDelaware7
  • Fiscal year endsDecember 312
  • Industry code (SIC)3843 Dental Equipment & Supplies2
  • SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance2
  • Business address200 S. Kraemer Blvd., Bldg. E, Brea, CA 928212
  • Phone714-817-54182
  • Shares outstanding160,617,709 as of Jul 31, 202614
  • Public float$2.5B as of Jun 27, 20257
  • AuditorErnst & Young LLP, Irvine, California PCAOB ID 42; it also attests to the company’s internal control over financial reporting7
  • On EDGAR sinceMay 20, 20192
  • Filings552 in all: 4 (279), 8-K (80), 3 (34), SC 13G/A (26), 10-Q (21), SC 13G (12), SCHEDULE 13G/A (9), 10-K (7)2
    All 34 form types

    11-K (7), 144 (7), 425 (7), DEF 14A (7), DEFA14A (7), SD (6), CORRESP (5), ARS (4), S-8 (4), SCHEDULE 13G (4), UPLOAD (4), S-8 POS (3), 5 (2), DRS (2), EFFECT (2), PRE 14A (2), S-1/A (2), 15-15D (1), 424B3 (1), 424B4 (1), 8-A12B (1), CERT (1), DRS/A (1), DRSLTR (1), S-1 (1), S-4 (1)

  • Latest filingsAnnual report (10-K) Feb 12, 2026
    Quarterly report (10-Q) Aug 5, 2026
    Proxy statement (DEF 14A) Apr 7, 2026
    Latest 8-K (8-K) Sep 17, 2026

Securities registered for trading

ClassSymbolExchange
Common stock, $0.01 par valueNVSTNew York Stock Exchange

From the cover page of the 10-K filed Feb 12, 2026 (Section 12(b) of the Exchange Act).7

Risk factors and legal proceedings

The risks Envista Holdings Corporation names in Item 1A of its 10-K filed Feb 12, 2026: 48 risks under these headings, as written.7

  • Risks Related to Our Business
  • Conditions in the global economy, especially with respect to the particular markets we serve and the volatility of the financial markets may adversely affect our business and financial statements.
  • International economic, political, legal, compliance and business factors could negatively affect our financial statements.
  • Significant developments or uncertainties stemming from trade policies and regulations could have an adverse effect on our business.
  • Our growth could suffer if the markets into which we sell our products and services decline, do not grow as anticipated or experience cyclicality.
  • Our financial results are subject to fluctuations in the cost and availability of commodities that we use in our operations.
  • If we cannot adjust our manufacturing capacity or the purchases required for our manufacturing activities to reflect changes in market conditions and customer demand, our profitability may suffer. In addition, our reliance upon sole or limited sources of supply for certain materials, components and services could cause production interruptions, delays and inefficiencies.
  • A significant disruption in, or breach in security of, our information technology systems or data or violation of data privacy laws could adversely affect our business, operations, reputation and financial statements.
  • Our growing use of artificial intelligence systems to automate processes and analyze data poses inherent risks.
  • If we suffer loss to our facilities, supply chains, distribution systems or information technology systems due to a cybersecurity incident, catastrophe or other events, our operations could be seriously harmed.
  • The manufacture of many of our products is a highly exacting and complex process, and if we directly or indirectly encounter problems manufacturing products, our reputation, business and financial statements could suffer.
  • We currently outsource certain elements of our information technology systems to third-party services providers and their failure to adequately perform their services or attacks to their information systems could have a material adverse impact on our business operations and make our systems vulnerable to attacks.
The other 37 risks
  • Data privacy and security laws relating to the handling of personal information (including personal health information) are evolving across the world and may be drafted, interpreted or applied in a manner that results in increased costs, legal claims, fines against us, reputational damage or impedes delivery.
  • Our growth depends in part on the timely development, commercialization, and customer acceptance of new and enhanced products and services based on technological innovation.
  • Our success depends on our ability to attract, develop and retain our key personnel.
  • Any inability to consummate acquisitions at our historical rate and at appropriate prices, and to make appropriate investments that support our long-term strategy, could negatively impact our growth rate and stock price.
  • Our acquisition of businesses, investments, joint ventures and other strategic relationships could negatively impact our financial statements.
  • The indemnification provisions of acquisition agreements by which we have acquired companies may not fully protect us and as a result we may face unexpected liabilities.
  • Divestitures or other dispositions could negatively impact our business, and contingent liabilities from businesses that we or our predecessors have sold could adversely affect our financial statements.
  • Inventories maintained by our distributors and customers may fluctuate from time to time.
  • We are dependent upon a limited number of distributors for a significant portion of our sales, and loss of a key distributor could result in a loss of a significant amount of our sales. In addition, adverse changes in our relationships with, or the financial condition, performance, purchasing patterns or inventory levels of, key distributors and other channel partners could adversely affect our financial statements.
  • If we do not or cannot adequately protect our intellectual property, or if third parties infringe our intellectual property rights, we may suffer competitive injury or expend significant resources enforcing our rights.
  • Third parties may claim that we are infringing or misappropriating their intellectual property rights and we could suffer significant litigation expenses, losses or licensing expenses or be prevented from selling products or services.
  • Defects and unanticipated use or inadequate disclosure with respect to our products or services (including software), or allegations thereof, could adversely affect our business, reputation and financial statements.
  • Our restructuring and site consolidation actions could have long-term adverse effects on our business.
  • We may be adversely affected by climate-related risks or by legal, regulatory or market responses to such risks.
  • Risks Related to Our IndebtednessWe have outstanding indebtedness of approximately $1.5 billion, and in the future, we may incur additional indebtedness. This indebtedness could adversely affect our businesses and our ability to meet our obligations.
  • We may not be able to generate sufficient cash to service all of our indebtedness and may be forced to take other actions to satisfy our obligations under our indebtedness, which may not be successful and may adversely affect our ability to pay dividends (if we pay dividends in the future).
  • We may be unable to raise the funds necessary to repurchase the Notes for cash following a fundamental change, or to pay any cash amounts due upon conversion, and our other indebtedness may limit our ability to repurchase the Notes or pay cash upon their conversion.
  • The conditional conversion feature of the Notes, if triggered, may adversely affect our financial condition and operating results.
  • Our variable rate indebtedness exposes us to interest rate volatility, which could cause our debt service obligations to increase significantly.
  • Risks Related to Our Industry
  • The industries that we serve have undergone, and are in the process of undergoing, significant changes in an effort to reduce costs, which could adversely affect our financial statements.
  • We face intense competition and if we are unable to compete effectively, we may experience decreased demand and decreased market share. Even if we compete effectively, we may be required to reduce prices for our products and services.
  • Risks Related to Laws and Regulations
  • Changes in governmental regulations may reduce demand for our products or services or increase our expenses.
  • Off-label marketing or misleading advertising of our products could result in substantial penalties.
  • Certain modifications to our products may require new 510(k) clearances or other marketing authorizations and may require us to recall or cease marketing our products.
  • Our operations, products and services expose us to the risk of environmental, health and safety liabilities, costs and violations that could adversely affect our business, reputation and financial statements.
  • Our businesses are subject to extensive regulation; failure to comply with those regulations could adversely affect our financial statements and our business, including our reputation.
  • Risks Related to Ownership of Our Stock
  • The price of our common stock may continue to be volatile, which could lead to securities litigation brought against us or cause investors to lose the value of their investment.
  • Certain provisions in our second amended and restated certificate of incorporation, as amended, our third amended and restated bylaws, the Indenture governing the Notes, and of Delaware law, may prevent or delay an acquisition of us, which could decrease the trading price of our common stock.
  • Our second amended and restated certificate of incorporation, as amended, designates the state courts in the State of Delaware or, if no state court located within the State of Delaware has jurisdiction, the federal court for the District of Delaware, as the sole and exclusive forum for certain types of actions and proceedings that may be initiated by our stockholders, which could discourage lawsuits against us and our directors, officers, employees and stockholders.
  • Conversion of the Notes may dilute the ownership interest of our stockholders or may otherwise depress the prices of our common stock.
  • The issuance or sale of shares of our common stock, or rights to acquire shares of our common stock, could depress the trading price of our common stock and the Notes.
  • General Risks
  • We have recognized substantial impairment charges for our goodwill and indefinite-lived intangible assets and may be required to recognize additional impairment charges for such assets in the future.
  • Changes in accounting standards and subjective assumptions, estimates and judgments by management related to complex accounting matters could significantly affect our financial results or financial condition.
  • Foreign currency exchange rates may adversely affect our financial statements.
  • Changes in tax law relating to multinational corporations could adversely affect our tax position.
  • We are subject to a variety of litigation and other legal and regulatory proceedings in the course of our business that could adversely affect our business and financial statements.
  • Work stoppages, union and works council campaigns and other labor disputes could adversely impact our productivity and results of operations.

Legal proceedings

We are, from time to time, subject to a variety of litigation and other legal and regulatory proceedings and claims incidental to our business. Based upon our experience, current information and applicable law, we do not believe that these proceedings and claims will have a material effect on our financial position, results of operations or cash flows. However, in the event of unexpected further developments, it is possible that the ultimate resolution of these matters, or other similar matters, if unfavorable, may be materially adverse to our financial position, results of operations or cash flows. For additional information, please see Note 13 to our Consolidated Financial Statements.

The opening of Item 3, Legal Proceedings.7

Sources

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