10-Q Filing

AVANTOR, INC. CIK: 1722482 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001722482-20-000090`
Period End Date	20200331
Filing Date	20200429
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	avtr-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 32 Cash Flow Statement 56 Comprehensive Income 20

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Allowances on accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$24.60M	USD	Point-in-time
Allowances on accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$18.60M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$346.30M	USD	Point-in-time
Accumulated depreciation on property and equipment	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$321.30M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$186.70M	USD	Point-in-time
Accumulated depreciation on property and equipment	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$307.80M	USD	Point-in-time
MCPS, shares outstanding	`PreferredStockSharesOutstanding`	20.70M	shares	Point-in-time
MCPS, shares outstanding	`PreferredStockSharesOutstanding`	20.70M	shares	Point-in-time
Accounts receivable, net of allowances of $24.6 and $18.6	`AccountsReceivableNetCurrent`	$1.04B	USD	Point-in-time
Accounts receivable, net of allowances of $24.6 and $18.6	`AccountsReceivableNetCurrent`	$988.80M	USD	Point-in-time
Inventory	`InventoryNet`	$711.20M	USD	Point-in-time
Inventory	`InventoryNet`	$686.10M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	574.90M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	572.80M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$123.10M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$134.80M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.02B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.20B	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation of $321.3 and $307.8	`PropertyPlantAndEquipmentNet`	$557.00M	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation of $321.3 and $307.8	`PropertyPlantAndEquipmentNet`	$556.00M	USD	Point-in-time
Other intangible assets, net (see note 8)	`OtherIntangibleAssetsNet`	$4.22B	USD	Point-in-time
Other intangible assets, net (see note 8)	`OtherIntangibleAssetsNet`	$4.10B	USD	Point-in-time
Goodwill	`Goodwill`	$2.74B	USD	Point-in-time
Goodwill	`Goodwill`	$2.77B	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$199.50M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$205.20M	USD	Point-in-time
Total assets	`Assets`	$9.77B	USD	Point-in-time
Total assets	`Assets`	$9.79B	USD	Point-in-time
Current portion of debt	`LongTermDebtCurrent`	$93.50M	USD	Point-in-time
Current portion of debt	`LongTermDebtCurrent`	$14.30M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$560.20M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$610.90M	USD	Point-in-time
Employee-related liabilities	`EmployeeRelatedLiabilitiesCurrent`	$114.00M	USD	Point-in-time
Employee-related liabilities	`EmployeeRelatedLiabilitiesCurrent`	$114.30M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$74.20M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$135.00M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$232.30M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$252.40M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.13B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.07B	USD	Point-in-time
Debt, net of current portion	`LongTermDebtNoncurrent`	$5.04B	USD	Point-in-time
Debt, net of current portion	`LongTermDebtNoncurrent`	$5.02B	USD	Point-in-time
Deferred income tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$767.40M	USD	Point-in-time
Deferred income tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$785.40M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$411.70M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$428.20M	USD	Point-in-time
Total liabilities	`Liabilities`	$7.31B	USD	Point-in-time
Total liabilities	`Liabilities`	$7.35B	USD	Point-in-time
Commitments and contingencies, see note 10	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies, see note 10	`CommitmentsAndContingencies`	-	USD	Point-in-time
MCPS including paid-in capital, 20.7 shares outstanding	`PreferredStockIncludingAdditionalPaidInCapital`	$1.00B	USD	Point-in-time
MCPS including paid-in capital, 20.7 shares outstanding	`PreferredStockIncludingAdditionalPaidInCapital`	$1.00B	USD	Point-in-time
Common stock including paid-in capital, 574.9 and 572.8 shares outstanding	`CommonStocksIncludingAdditionalPaidInCapital`	$1.75B	USD	Point-in-time
Common stock including paid-in capital, 574.9 and 572.8 shares outstanding	`CommonStocksIncludingAdditionalPaidInCapital`	$1.75B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-158.30M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-203.70M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-85.90M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-66.50M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-76.10M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-153.30M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$2.44B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$-3.14B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$2.46B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$-3.05B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$9.77B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$9.79B	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$1.52B	USD	1 Quarter
Net sales	`Revenues`	$1.48B	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$1.00B	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$1.02B	USD	1 Quarter
Gross profit	`GrossProfit`	$475.20M	USD	1 Quarter
Gross profit	`GrossProfit`	$501.90M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$343.50M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$337.60M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$158.40M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$137.60M	USD	1 Quarter
Interest expense	`InterestExpense`	$128.60M	USD	1 Quarter
Interest expense	`InterestExpense`	$94.50M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$800.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-5.10M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.90M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$64.70M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$10.10M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$17.70M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$47.00M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-6.20M	USD	1 Quarter
Accumulation of yield on preferred stock	`PreferredStockDividendsIncomeStatementImpact`	$71.80M	USD	1 Quarter
Accumulation of yield on preferred stock	`PreferredStockDividendsIncomeStatementImpact`	$16.10M	USD	1 Quarter
Net income (loss) available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-78.00M	USD	1 Quarter
Net income (loss) available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$30.90M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.05	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.59	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.05	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.59	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	573.70M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	132.80M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	581.30M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	132.80M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$47.00M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-6.20M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$98.30M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$96.50M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$4.80M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$8.40M	USD	1 Quarter
Provision for accounts receivable and inventory	`ProvisionForAccountsReceivableAndInventory`	$13.60M	USD	1 Quarter
Provision for accounts receivable and inventory	`ProvisionForAccountsReceivableAndInventory`	$7.70M	USD	1 Quarter
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-21.50M	USD	1 Quarter
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-4.20M	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$6.90M	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$10.40M	USD	1 Quarter
Foreign currency remeasurement loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$-7.20M	USD	1 Quarter
Foreign currency remeasurement loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$-6.70M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$80.10M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$54.20M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$41.20M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-5.30M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$67.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$5.40M	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$60.80M	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$59.70M	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-5.50M	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-24.50M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$-700.00K	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$900.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$253.10M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$75.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$12.40M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$12.60M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-700.00K	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-4.50M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.90M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.90M	USD	1 Quarter
Debt borrowings	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	1 Quarter
Debt borrowings	`ProceedsFromIssuanceOfLongTermDebt`	$3.60M	USD	1 Quarter
Debt repayments	`RepaymentsOfLongTermDebt`	$63.80M	USD	1 Quarter
Debt repayments	`RepaymentsOfLongTermDebt`	$109.70M	USD	1 Quarter
Payments of dividends on preferred stock	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	-	USD	1 Quarter
Payments of dividends on preferred stock	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$16.10M	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$6.80M	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	-	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-73.10M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-106.10M	USD	1 Quarter
Effect of currency rate changes on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-8.50M	USD	1 Quarter
Effect of currency rate changes on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-1.80M	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$159.60M	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-40.80M	USD	1 Quarter
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$146.90M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$189.30M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$348.90M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$187.70M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$146.90M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$189.30M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$348.90M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$187.70M	USD	Point-in-time

Comprehensive Income 20 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$47.00M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-6.20M	USD	1 Quarter
Foreign currency translation unrealized loss	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax`	$-8.90M	USD	1 Quarter
Foreign currency translation unrealized loss	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax`	$-68.80M	USD	1 Quarter
Unrealized gain (loss)	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax`	$1.60M	USD	1 Quarter
Unrealized gain (loss)	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax`	$-300.00K	USD	1 Quarter
Reclassification of gain into earnings	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax`	$100.00K	USD	1 Quarter
Reclassification of gain into earnings	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax`	$300.00K	USD	1 Quarter
Unrealized gain (loss)	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeReclassificationAdjustmentsAndTax`	$100.00K	USD	1 Quarter
Unrealized gain (loss)	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeReclassificationAdjustmentsAndTax`	$-400.00K	USD	1 Quarter
Reclassification of gain into earnings	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansBeforeTax`	$-200.00K	USD	1 Quarter
Reclassification of gain into earnings	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansBeforeTax`	$-100.00K	USD	1 Quarter
Other comprehensive loss before income taxes	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$-67.00M	USD	1 Quarter
Other comprehensive loss before income taxes	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$-9.80M	USD	1 Quarter
Income tax effect	`OtherComprehensiveIncomeLossTaxPortionAttributableToParent1`	$-200.00K	USD	1 Quarter
Income tax effect	`OtherComprehensiveIncomeLossTaxPortionAttributableToParent1`	$400.00K	USD	1 Quarter
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-9.60M	USD	1 Quarter
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-67.40M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-15.80M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-20.40M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.