Avantor Inc
For the period ended Dec 31, 2023. Filed Feb 14, 2024.
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FY2023 · Filed Feb 14, 2024
AVTR$15.57-2.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated statements of cash flows F-
| (in millions) | Year ended December 31, | ||
|---|---|---|---|
| 2023 · 2022 · 2021 | |||
| Cash flows from operating activities: | |||
| Net income | $321.1 | $686.5 | $572.6 |
| Reconciling adjustments: | |||
| Depreciation and amortization | 402.3 | 405.5 | 379.2 |
| Impairment charges | 160.8 | — | — |
| Stock-based compensation expense | 40.5 | 45.8 | 50.7 |
| Provision for accounts receivable and inventory | 84.5 | 65.0 | 44.9 |
| Deferred income tax benefit | (172.4) | (69.1) | (17.7) |
| Amortization of deferred financing costs | 13.0 | 15.7 | 16.3 |
| Loss on extinguishment of debt | 6.9 | 12.5 | 12.4 |
| Foreign currency remeasurement (gain) loss | (2.6) | 10.0 | 6.7 |
| Changes in assets and liabilities: | |||
| Accounts receivable | 77.0 | (45.2) | (111.8) |
| Inventory | 30.3 | (112.5) | (129.8) |
| Accounts payable | (139.6) | 15.6 | 64.9 |
| Accrued interest | 0.3 | 0.1 | 5.3 |
| Other assets and liabilities | 48.6 | (179.3) | 56.9 |
| Other | (0.7) | (7.0) | 3.0 |
| Net cash provided by operating activities | 870.0 | 843.6 | 953.6 |
| Cash flows from investing activities: | |||
| Capital expenditures | (146.4) | (133.4) | (111.1) |
| Cash paid for acquisitions, net of cash acquired | — | (20.2) | (4,014.1) |
| Cash proceeds from settlement of cross currency swap | — | 42.5 | — |
| Other | 2.7 | 1.5 | 3.5 |
| Net cash used in investing activities | $(143.7) | $(109.6) | $(4,121.7) |
| (in millions) | Year ended December 31, | ||
|---|---|---|---|
| 2023 · 2022 · 2021 | |||
| Cash flows from financing activities: | |||
| Debt borrowings | $— | $327.2 | $2,834.6 |
| Debt repayments | (846.0) | (947.0) | (533.9) |
| Payments of debt refinancing fees and premiums | (2.3) | (0.6) | (40.6) |
| Proceeds from issuance of stock, net of issuance costs | — | — | 967.0 |
| Payments of dividends on preferred stock | — | (32.4) | (64.6) |
| Proceeds received from exercise of stock options | 18.3 | 17.3 | 82.5 |
| Shares repurchased to satisfy employee tax obligations for vested stock-based awards | (13.7) | (13.2) | (25.8) |
| Net cash (used in) provided by financing activities | (843.7) | (648.7) | 3,219.2 |
| Effect of currency rate changes on cash and cash equivalents | 8.2 | (15.5) | (13.2) |
| Net change in cash, cash equivalents and restricted cash | (109.2) | 69.8 | 37.9 |
| Cash, cash equivalents and restricted cash, beginning of year | 396.9 | 327.1 | 289.2 |
| Cash, cash equivalents and restricted cash, end of year | $287.7 | $396.9 | $327.1 |
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