Cover
Cover | 12 Months Ended |
Dec. 31, 2022 | |
Document Information [Line Items] | |
Document Type | DEF 14A |
Amendment Flag | false |
Entity Information [Line Items] | |
Entity Registrant Name | HENRY SCHEIN, INC. |
Entity Central Index Key | 0001000228 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure | 12 Months Ended | ||
Dec. 31, 2022 USD ($) $ / Shares $ / shares | Dec. 25, 2021 USD ($) $ / Shares $ / shares | Dec. 26, 2020 USD ($) $ / Shares | |
Pay vs Performance Disclosure [Table] | |||
Pay vs Performance [Table Text Block] | Pay As S-K For purposes of this disclosure, “compensation actually paid” or “CAP” to our PEO and other NEOs represents an amount calculated based on the SEC’s prescribed formula. CAP is not compensation actually earned by or paid to our named executive officers in each respective year. Neither the Compensation Committee nor the executives of our Company directly used the information in this table or the related disclosures when making compensation decisions for 2022. For details about the Company’s pay-for-performance Pay Versus Performance Table Value of initial fixed $100 Year Summary Compensation 1 Average non-PEO NEOs Average Non-PEO 2 Total 3 Peer Total 3 Net Income/ (Loss) (in millions) Company-Selected Adjusted EPS 4 2022 $8,255,135 $9,962,917 $2,945,446 $3,402,202 $120 $136 $538 $4.34 2021 $10,786,180 $28,293,056 $3,854,485 $7,569,084 $113 $142 $631 $4.48 2020 $6,239,637 ($8,384,241) $2,649,163 ($811,730) $99 $114 $404 $2.97 1 2 Non-PEO Non-PEO 3 10-K 4 Reconciliation Tables The following table sets forth a reconciliation from the Summary Compensation Table (“SCT”) to CAP to our PEO. Mr. Bergman served as our only PEO for each year. Equity Addition to SCT Total for PEO Year SCT Total Less Equity 1 Value of Awards at Year-end 2 Change in Value Year Awards 3 Change in Value 4 Total-Equity (Subtraction) to Total 5 2022 $8,255,135 ($3,971,000) $2,850,094 $1,434,350 $1,394,338 $5,678,782 $9,962,917 2021 $10,786,180 ($5,770,209) $7,378,604 $15,932,034 ($33,552) $23,277,085 $28,293,056 2020 $6,239,637 ($3,438,000) $0 ($10,977,620) ($208,258) ($11,185,878) ($8,384,241) 1 2 year-end 3 year-end. 4 5 year-end year-end, The following table sets forth a reconciliation from the SCT to CAP to our average Non-PEO Equity Addition to SCT Total for Non-PEO Year SCT Total Less Equity 1 Value of Current Awards at Year-end 2 Change in Value Year Awards 3 Change in Value 4 Total-Equity (Subtraction) to Total 5 2022 $2,945,446 ($ 1,441,433 $1,179,477 $353,110 $ 365,601 $1,898,189 $3,402,202 2021 $3,854,485 ($ 2,174,430 $2,805,529 $3,118,145 ($ 34,646 $5,889,029 $7,569,084 2020 $2,649,163 ($ 1,473,250 $560,510 ($ 2,401,561 ($ 146,591 ($ 1,987,643 ($ 811,730 1 2 year-end 3 year-end. 4 5 year-end year-end, The Company grants PSUs to executive officers annually, although no such grant was made during 2021. The Company grants RSUs to executive officers annually. Such grants cliff-vest on the fourth anniversary of the grant. During 2021, the 2021 Special Pandemic Recognition Awards were granted as RSU that vested 50% on the first anniversary of the grant in 2022 and 50% on the second anniversary of the grant in 2023. The Company granted stock options to executive officers in 2021 and 2022 as part of the annual equity grant. Grants vest and become exercisable in one-third th year-end year-end Valuation Purpose for PVP HSIC Stock Price HSIC Option Exercise Price Expected Term (years) Stock Price Volatility Risk-free Rate Dividend Yield Option Fair Value Year-end 2021 $ 74.93 $ 62.71 5.2 27.1 1.33 0 $ 25.60 2022 Vesting $ 87.24 $ 62.71 5.0 27.2 1.77 0 $ 35.95 Year-end 2022 $ 79.87 $ 62.71 86.27 4.2 27.8 3.98 0 $ 23.92 31.76 | ||
Company Selected Measure Name | adjusted EPS | ||
Named Executive Officers, Footnote [Text Block] | Our NEOs in 2020 and 2021 were Messrs. Breslawski, Paladino, Benjamin and Mlotek. Our NEOs in 2022 were Messrs. Breslawski, Paladino, South, Mlotek and Connett. Mr. Benjamin retired during 2022 and was not an NEO that year. Mr. Paladino retired as CFO during 2022 and Mr. South became CFO during 2022. Mr. Connett was an NEO only for 2022. | ||
Peer Group Issuers, Footnote [Text Block] | Cumulative shareholder returns reflect $100 invested as of market close on December 28, 2019, the final trading day of the Company’s fiscal year ended December 28, 2019 (“fiscal 2019”); Peer Total Shareholder Return based on Dow Jones U.S. Health Care Index; see Stock Performance Graph included in Part II, Item 5 of our Annual Report on Form 10-K | ||
PEO Total Compensation Amount | $ 8,255,135 | $ 10,786,180 | $ 6,239,637 |
PEO Actually Paid Compensation Amount | $ 9,962,917 | 28,293,056 | (8,384,241) |
Adjustment To PEO Compensation, Footnote [Text Block] | The following table sets forth a reconciliation from the Summary Compensation Table (“SCT”) to CAP to our PEO. Mr. Bergman served as our only PEO for each year. Equity Addition to SCT Total for PEO Year SCT Total Less Equity 1 Value of Awards at Year-end 2 Change in Value Year Awards 3 Change in Value 4 Total-Equity (Subtraction) to Total 5 2022 $8,255,135 ($3,971,000) $2,850,094 $1,434,350 $1,394,338 $5,678,782 $9,962,917 2021 $10,786,180 ($5,770,209) $7,378,604 $15,932,034 ($33,552) $23,277,085 $28,293,056 2020 $6,239,637 ($3,438,000) $0 ($10,977,620) ($208,258) ($11,185,878) ($8,384,241) 1 2 year-end 3 year-end. 4 5 year-end year-end, The Company granted stock options to executive officers in 2021 and 2022 as part of the annual equity grant. Grants vest and become exercisable in one-third th year-end year-end Valuation Purpose for PVP HSIC Stock Price HSIC Option Exercise Price Expected Term (years) Stock Price Volatility Risk-free Rate Dividend Yield Option Fair Value Year-end 2021 $ 74.93 $ 62.71 5.2 27.1 1.33 0 $ 25.60 2022 Vesting $ 87.24 $ 62.71 5.0 27.2 1.77 0 $ 35.95 Year-end 2022 $ 79.87 $ 62.71 86.27 4.2 27.8 3.98 0 $ 23.92 31.76 | ||
Non-PEO NEO Average Total Compensation Amount | $ 2,945,446 | 3,854,485 | 2,649,163 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 3,402,202 | 7,569,084 | (811,730) |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | The following table sets forth a reconciliation from the SCT to CAP to our average Non-PEO Equity Addition to SCT Total for Non-PEO Year SCT Total Less Equity 1 Value of Current Awards at Year-end 2 Change in Value Year Awards 3 Change in Value 4 Total-Equity (Subtraction) to Total 5 2022 $2,945,446 ($ 1,441,433 $1,179,477 $353,110 $ 365,601 $1,898,189 $3,402,202 2021 $3,854,485 ($ 2,174,430 $2,805,529 $3,118,145 ($ 34,646 $5,889,029 $7,569,084 2020 $2,649,163 ($ 1,473,250 $560,510 ($ 2,401,561 ($ 146,591 ($ 1,987,643 ($ 811,730 1 2 year-end 3 year-end. 4 5 year-end year-end, Valuation Purpose for PVP HSIC Stock Price HSIC Option Exercise Price Expected Term (years) Stock Price Volatility Risk-free Rate Dividend Yield Option Fair Value Year-end 2021 $ 74.93 $ 62.71 5.2 27.1 1.33 0 $ 25.60 2022 Vesting $ 87.24 $ 62.71 5.0 27.2 1.77 0 $ 35.95 Year-end 2022 $ 79.87 $ 62.71 86.27 4.2 27.8 3.98 0 $ 23.92 31.76 | ||
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | |||
Compensation Actually Paid vs. Net Income [Text Block] | |||
Compensation Actually Paid vs. Company Selected Measure [Text Block] | |||
Total Shareholder Return Vs Peer Group [Text Block] | |||
Tabular List [Table Text Block] | Most Important Financial Measures The Key Financial Measures Adjusted EPS 1 Revenues 2 Operating Income 3 1 2 3 | ||
Total Shareholder Return Amount | $ 120 | 113 | 99 |
Peer Group Total Shareholder Return Amount | 136 | 142 | 114 |
Net Income (Loss) | $ 538,000,000 | $ 631,000,000 | $ 404,000,000 |
Company Selected Measure Amount | $ / Shares | 4.34 | 4.48 | 2.97 |
PEO Name | Mr. Bergman | ||
Percentage of Award Vesting | 50% | ||
Stock Price | $ / shares | $ 79.87 | $ 74.93 | |
Option Exercise Price Minimum | $ / shares | 62.71 | ||
Option Exercise Price Maximum | $ / shares | $ 86.27 | $ 62.71 | |
Expected Term Minimum | 4 years 2 months 12 days | ||
Expected Term Maximum | 5 years 2 months 12 days | 5 years 2 months 12 days | |
Stock Price Volatility | 27.80% | 27.10% | |
Risk-free Interest Rate | 3.98% | 1.33% | |
Dividend Yield | 0% | 0% | |
Option Fair Value Minimum | $ / shares | $ 23.92 | ||
Option Fair Value Maximum | $ / shares | $ 31.76 | $ 25.6 | |
Measure [Axis]: 1 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Adjusted EPS | ||
Non-GAAP Measure Description [Text Block] | Reflects the Company’s selected measure of adjusted EPS for the respective Performance Incentive Plan (PIP) year as disclosed in the Compensation Discussion and Analysis for each year’s proxy statement, with such adjustments as described in the applicable Compensation Discussion and Analysis. | ||
Measure [Axis]: 2 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Revenues | ||
Measure [Axis]: 3 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Operating Income | ||
Vesting Awards [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Stock Price | $ / shares | $ 87.24 | ||
Option Exercise Price Maximum | $ / shares | $ 62.71 | ||
Expected Term Maximum | 5 years | ||
Stock Price Volatility | 27.20% | ||
Risk-free Interest Rate | 1.77% | ||
Dividend Yield | 0% | ||
Option Fair Value Maximum | $ / shares | $ 35.95 | ||
PEO [Member] | Equity Awards Value In Compensation Table For The Applicable Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ (3,971,000) | $ (5,770,209) | $ (3,438,000) |
PEO [Member] | Equity Awards Adjustments Year End Fair Value Of Awards Granted In Current Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 2,850,094 | 7,378,604 | 0 |
PEO [Member] | Equity Awards Adjustments Change In Fair Value as of Year End of Outstanding and Unvested Awards Granted in Prior Years [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 1,434,350 | 15,932,034 | (10,977,620) |
PEO [Member] | Equity Awards Adjustments Change in Fair Value as of Vesting Date Of Prior Year Awards Vested During Current Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 1,394,338 | (33,552) | (208,258) |
PEO [Member] | Equity Awards Adjustments [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 5,678,782 | 23,277,085 | (11,185,878) |
Non-PEO NEO [Member] | Equity Awards Value In Compensation Table For The Applicable Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (1,441,433) | (2,174,430) | (1,473,250) |
Non-PEO NEO [Member] | Equity Awards Adjustments Year End Fair Value Of Awards Granted In Current Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 1,179,477 | 2,805,529 | 560,510 |
Non-PEO NEO [Member] | Equity Awards Adjustments Change In Fair Value as of Year End of Outstanding and Unvested Awards Granted in Prior Years [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 353,110 | 3,118,145 | (2,401,561) |
Non-PEO NEO [Member] | Equity Awards Adjustments Change in Fair Value as of Vesting Date Of Prior Year Awards Vested During Current Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 365,601 | (34,646) | (146,591) |
Non-PEO NEO [Member] | Equity Awards Adjustments [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ 1,898,189 | $ 5,889,029 | $ (1,987,643) |