Condensed unconsolidated financial information of Avantor, Inc.

12 Months Ended

Dec. 31, 2022

Condensed Financial Information Disclosure [Abstract]

Condensed unconsolidated financial information of Avantor, Inc.

24.    Condensed unconsolidated financial information of Avantor, Inc.

Pursuant to SEC regulations, the following presents condensed unconsolidated financial information of the registrant, Avantor, Inc.

The following condensed unconsolidated financial statements should be read in conjunction with our consolidated financial statements and notes thereto because certain applicable disclosures are provided there. In these condensed unconsolidated financial statements, all of our subsidiaries are wholly-owned for the periods presented and presented as investments of Avantor, Inc. under the equity method. Under that method, the equity interest in subsidiaries’ assets and liabilities is stated as a net non current asset at historical cost on the balance sheet.

No statements of operations are included because Avantor, Inc. only had equity in the earnings or loss of its subsidiaries for the periods presented in amounts equal to our consolidated net income or loss.

Avantor, Inc.

Condensed unconsolidated balance sheets

(in millions)	December 31,
	2022		2021
Assets
Investment in unconsolidated subsidiaries	$	4,855.4	$	4,197.0
Total assets	$	4,855.4	$	4,197.0
Stockholders’ equity
MCPS including paid-in capital, 0.0 and 20.7 shares outstanding	$	—	$	1,003.7
Common stock including paid-in capital, 674.3 and 609.7 shares outstanding	3,785.3		2,752.6
Accumulated earnings	1,170.4		483.9
Accumulated other comprehensive loss	(100.3)		(43.2)
Total stockholders’ equity	$	4,855.4	$	4,197.0

Avantor, Inc.

Condensed unconsolidated statements of cash flows

(in millions)	Year ended December 31, 2022		Year ended December 31, 2021		Year ended December 31, 2020
Cash flows from investing activities:
Contribution from (to) unconsolidated subsidiaries	$	28.3	$	(967.3)	$	—
Net cash provided by (used in) investing activities	28.3		(967.3)		—
Cash flows from financing activities:
Proceeds from issuance of stock, net of issuance costs	—		967.0		—
Payments of dividends on preferred stock	(32.4)		(64.6)		(64.6)
Contribution from unconsolidated subsidiaries	—		—		44.4
Proceeds received from exercise of stock options, net of shares repurchased to satisfy employee tax obligations for vested stock-based awards	4.1		64.9		20.2
Net cash (used in) provided by financing activities	(28.3)		967.3		—
Net change in cash and cash equivalents	—		—		—
Cash, cash equivalents and restricted cash, beginning of year	—		—		—
Cash, cash equivalents and restricted cash, end of year	$	—	$	—	$	—