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Cover and table of contents

10-K 1 the10k_2017.htm THE 2017 ANNUAL 10-K REPORT

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-K

X ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 30, 2017

__ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission file number 0-27078

hslogoimage HENRY SCHEIN, INC.

(Exact name of registrant as specified in its charter)

DELAWARE135 Duryea Road
(State or other jurisdiction ofMelville, New York
incorporation or organization)(Address of principal executive offices)
11-313659511747
(I.R.S. Employer Identification No.)(Zip Code)

(631) 843-5500

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each className of each exchange on which registered
Common Stock, par value $.01 per shareThe NASDAQ Global Select Market

Securities registered pursuant to Section 12(g) of the Act:

None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.

YES: X NO: __

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.

YES: __ NO: X

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

YES: X NO: __

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

YES: X NO: __

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10‑K. X

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer: X Accelerated filer: __ Non-accelerated filer: __ Smaller reporting company: __ Emerging growth company: __

(Do not check if a smaller reporting company)

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. □

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

YES: __ NO: X

The aggregate market value of the registrant’s voting stock held by non-affiliates of the registrant, computed by reference to the closing sales price as quoted on the NASDAQ Global Select Market on July 1, 2017, was approximately $14,360,474,000.

As of February 15, 2018, there were 153,694,200 shares of registrant’s Common Stock, par value $.01 per share, outstanding.

Documents Incorporated by Reference:

Portions of the Registrant’s definitive proxy statement to be filed pursuant to Regulation 14A not later than 120 days after the end of the fiscal year (December 30, 2017) are incorporated by reference in Part III hereof.

TABLE OF CONTENTS
Page
Number
PART I.
ITEM 1.Business.............................................................................................................................................................................3
ITEM 1A.Risk Factors.........................................................................................................................................................................21
ITEM 1B.Unresolved Staff Comments....................................................................................................................................................36
ITEM 2.Properties............................................................................................................................................................................37
ITEM 3.Legal Proceedings.................................................................................................................................................................38
ITEM 4.Mine Safety Disclosures........................................................................................................................................................39
PART II
ITEM 5.Market for Registrant's Common Equity, Related Stockholder Matters
and Issuer Purchases of Equity Securities.............................................................................................................................40
ITEM 6.Selected Financial Data..........................................................................................................................................................43
ITEM 7.Management's Discussion and Analysis of Financial Condition
and Results of Operations..................................................................................................................................................45
ITEM 7A.Quantitative and Qualitative Disclosures About Market Risk.........................................................................................................75
ITEM 8.Financial Statements and Supplementary Data............................................................................................................................77
ITEM 9.Changes in and Disagreements With Accountants on Accounting
and Financial Disclosure....................................................................................................................................................123
ITEM 9A.Controls and Procedures........................................................................................................................................................123
ITEM 9B.Other Information.................................................................................................................................................................127
PART III
ITEM 10.Directors, Executive Officers and Corporate Governance...............................................................................................................127
ITEM 11.Executive Compensation........................................................................................................................................................127
ITEM 12.Security Ownership of Certain Beneficial Owners and Management
and Related Stockholder Matters.........................................................................................................................................128
ITEM 13.Certain Relationships and Related Transactions, and Director Independence....................................................................................128
ITEM 14.Principal Accountant Fees and Services....................................................................................................................................128
PART IV.
ITEM 15.Exhibits,Financial Statement Schedules....................................................................................................................................129
ITEM 16.Form 10-K Summary..............................................................................................................................................................136
Signatures...........................................................................................................................................................................137

PART I

Next: Item 1. Business