Avantor, INC. 10-K Filing

Ticker: AVTR · Form: 10-K · Filed: Feb 7, 2025 · CIK: 1722482

Sentiment: neutral

Filing Stats: 4,307 words · 17 min read · ~14 pages · Grade level 16.9 · Accepted 2025-02-07 09:00:00

Key Financial Figures

Filing Documents

Business

Business 1 Item 1A.

Risk factors

Risk factors 9 Item 1B. Unresolved staff comments 24 Item 1C. Cybersecurity 24 Item 2.

Properties

Properties 25 Item 3.

Legal proceedings

Legal proceedings 25 Item 4. Mine safety disclosures 26 Information about our executive officers 27 PART II Item 5. Market for registrant's common equity, related stockholder matters and issuer purchases of equity securities 28 Item 6. Reserved 30 Item 7.

Management's discussion and analysis of financial condition and results of operations

Management's discussion and analysis of financial condition and results of operations 30 Item 7A.

Quantitative and qualitative disclosures about market risk

Quantitative and qualitative disclosures about market risk 47 Item 8.

Financial statements and supplementary data

Financial statements and supplementary data 48 Item 9. Changes in and disagreements with accountants on accounting and financial disclosure 48 Item 9A.

Controls and procedures

Controls and procedures 48 Item 9B. Other information 50 Item 9C. Disclosure regarding foreign jurisdictions that prevent inspections 50 PART III Item 10. Directors, executive officers and corporate governance 51 Item 11.

Executive compensation

Executive compensation 51 Item 12.

Security ownership of certain beneficial owners and management and related stockholder matters

Security ownership of certain beneficial owners and management and related stockholder matters 51 Item 13. Certain relationships and related transactions, and director independence 51 Item 14. Principal accountant fees and services 51 PART IV Item 15. Exhibits and financial statement schedules 51 Item 16. Form 10-K summary 57 i Glossary Description the Company, we, us, our Avantor, Inc. and its subsidiaries 2019 Plan the Avantor, Inc. 2019 Equity Incentive Plan, a stock-based compensation plan Adjusted EBITDA our earnings or loss before interest, taxes, depreciation, amortization and certain other adjustments Adjusted Operating Income our earnings or loss before interest, taxes, amortization and certain other adjustments AI artificial intelligence AMEA Asia, Middle-East and Africa AOCI accumulated other comprehensive income or loss ASC Accounting Standards Codification BIS the Bureau of Industry and Security CERCLA the Comprehensive Environmental Response Compensation and Liability Act cGMP Current Good Manufacturing Practice CODM chief operating decision maker COVID-19 Coronavirus disease of 2019 DDTC Directorate of Defense Trade controls DEA Drug Enforcement Administration DHHS Department of Health and Human Service EMA European Medicines Agency EPA the U.S. Environmental Protection Agency ERP enterprise resource planning EU European Union EURIBOR the basic rate of interest used in lending between banks on the European Union interbank market FASB the Financial Accounting Standards Board of the United States FCPA the United States Foreign Corrupt Practices Act FDA United States Food and Drug Administration GAAP United States generally accepted accounting principles GDPR the General Data Protection Regulation ii Description ICH Q7 the International Council for Harmonisation of Technical Requirements for Pharmaceuticals for Human Use - Good Manufacturing Practice Guidance for Active Pharmaceutical Ingredients

Business

Item 1. Business At Avantor, everything we do is tied to our unique mission of setting science in motion to create a better world. We are a leading global provider of mission-critical products and services to customers in the biopharma, healthcare, education & government, and advanced technologies & applied materials industries. Our business model is grounded in supporting our customers from discovery to delivery and Avantor is embedded in virtually every stage of the most important research, scale-up and manufacturing activities in the industries we serve. Our comprehensive offering provides scientists all they need to conduct their research: materials & consumables, equipment & instrumentation and services & specialty procurement. Our customer-centric innovation model enables us to provide solutions for some of the most demanding applications, and we leverage our comprehensive offering and access to early-stage research to identify and develop content and solutions that ultimately become specified into our customers' approved production platforms. Our broad portfolio of products and services, fully integrated business model and global supply chain enable us to support our customers' journey every step of the way. We have a number of distinctive capabilities that set us apart from other companies in our space. For example, our global footprint offers extraordinary customer access, enabling us to serve more than 300,000 customer locations in approximately 180 countries around the world. Our legacy began in 1904 with the founding of the J.T. Baker Chemical Company. In 2010, we were acquired by New Mountain Capital from Covidien plc. Since then, we have expanded through a series of large acquisitions which have extended our global reach. In 2016, we merged with NuSil, a leading supplier of high-purity silicone products for the medical device and aerospace industries that was founded in 1985. In 2017, we acquired VWR, a global manufacturer and distributor of labor

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