1. Nature of operations and presentation of financial statements
We are a global manufacturer and distributor that provides products and services to customers in the biopharmaceutical, healthcare, education & government and advanced technologies & applied materials industries.
Basis of presentation
The accompanying financial statements have been prepared in accordance with the rules and regulations of the SEC for annual reports and GAAP. The financial statements include the accounts of Avantor, Inc., its consolidated subsidiaries, and those business entities in which we maintain a controlling interest.
For the periods presented, all share and per share information has been adjusted for a stock split that occurred in connection with our IPO.
The financial statements reflect the adoptions of a new lease standard at January 1, 2019 and a new credit losses standard at January 1, 2020. Information about these new accounting standards is disclosed in note 3.
Principles of consolidation
All intercompany balances and transactions have been eliminated from the financial statements.
Use of estimates
The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the amounts reported throughout the financial statements. Actual results could differ from those estimates.
Secondary offerings
On September 15, 2021, we issued 23.81 million shares of our common stock, at a public offering price of $42.00 per share. The proceeds from this offering were $967.0 million, net of $33.0 million of offering costs. The proceeds were used to partially finance the acquisition of Masterflex as discussed in footnote 4 of our consolidated financial statements.
Free historical financial statements for Avantor Inc.
See how revenue, income, cash flow, and balance sheet financials have changed over 19 quarters since 2020. Compare with AVTR stock chart to see long term trends.
Data imported from Avantor Inc SEC filings. Check original filings before making any investment decision.