2023 Q1 Form 10-K Financial Statement

#000172248223000040 Filed on February 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $1.780B $1.795B $7.512B
YoY Change -8.72% -5.9% 1.71%
Cost Of Revenue $1.156B $1.181B $4.910B
YoY Change -8.33% -6.32% 0.54%
Gross Profit $624.8M $614.5M $2.603B
YoY Change -9.44% -5.1% 4.0%
Gross Profit Margin 35.1% 34.23% 34.65%
Selling, General & Admin $393.6M $362.7M $1.473B
YoY Change 2.79% -16.33% -3.78%
% of Gross Profit 63.0% 59.02% 56.58%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $101.1M $100.7M $87.20M
YoY Change -11.7% -3.27% -1.36%
% of Gross Profit 16.18% 16.39% 3.35%
Operating Expenses $393.6M $362.7M $1.473B
YoY Change 2.79% -16.33% -3.78%
Operating Profit $231.2M $251.8M $1.130B
YoY Change -24.69% 17.66% 16.25%
Interest Expense $73.70M -$77.00M $265.8M
YoY Change 13.73% 26.44% 22.26%
% of Operating Profit 31.88% -30.58% 23.52%
Other Income/Expense, Net $600.0K $1.600M -$800.0K
YoY Change -57.14% -117.58% -107.55%
Pretax Income $155.8M $174.7M $851.1M
YoY Change -35.57% 24.79% 13.03%
Income Tax $34.30M $33.00M $164.6M
% Of Pretax Income 22.02% 18.89% 19.34%
Net Earnings $121.5M $141.7M $686.5M
YoY Change -36.19% 50.74% 19.89%
Net Earnings / Revenue 6.82% 7.89% 9.14%
Basic Earnings Per Share $0.18 $1.02
Diluted Earnings Per Share $0.18 $0.21 $1.01
COMMON SHARES
Basic Shares Outstanding 674.4M shares 674.2M shares 650.9M shares
Diluted Shares Outstanding 678.1M shares 679.4M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $294.6M $372.9M $372.9M
YoY Change 3.88% 23.6% 23.6%
Cash & Equivalents $294.6M $372.9M $372.9M
Short-Term Investments
Other Short-Term Assets $151.5M $153.1M $153.1M
YoY Change 86.35% 88.08% 88.08%
Inventory $904.0M $913.5M $913.5M
Prepaid Expenses
Receivables $1.277B $1.218B $1.218B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.627B $2.658B $2.658B
YoY Change 0.81% 7.29% 7.29%
LONG-TERM ASSETS
Property, Plant & Equipment $736.5M $727.0M $845.7M
YoY Change 5.23% 3.05% 3.98%
Goodwill $5.683B $5.653B
YoY Change 7.93% 5.83%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $272.5M $293.5M $174.8M
YoY Change 8.13% 25.91% 39.51%
Total Long-Term Assets $10.77B $10.81B $10.81B
YoY Change -4.11% -5.37% -5.37%
TOTAL ASSETS
Total Short-Term Assets $2.627B $2.658B $2.658B
Total Long-Term Assets $10.77B $10.81B $10.81B
Total Assets $13.40B $13.46B $13.46B
YoY Change -3.18% -3.12% -3.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $765.7M $758.2M $758.2M
YoY Change -6.42% 0.41% 0.41%
Accrued Expenses $164.0M $172.3M $207.9M
YoY Change -6.12% -30.94% -26.69%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $325.2M $364.2M $364.2M
YoY Change 627.52% 705.75% 705.75%
Total Short-Term Liabilities $1.670B $1.659B $1.659B
YoY Change 15.37% 14.34% 14.34%
LONG-TERM LIABILITIES
Long-Term Debt $5.736B $5.923B $5.923B
YoY Change -15.84% -15.11% -15.11%
Other Long-Term Liabilities $300.1M $295.4M $295.4M
YoY Change -16.89% -17.58% -17.58%
Total Long-Term Liabilities $6.036B $6.219B $6.219B
YoY Change -15.9% -15.23% -15.23%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.670B $1.659B $1.659B
Total Long-Term Liabilities $6.036B $6.219B $6.219B
Total Liabilities $8.401B $8.609B $8.609B
YoY Change -11.36% -11.25% -11.25%
SHAREHOLDERS EQUITY
Retained Earnings $1.292B $1.170B
YoY Change 91.59% 141.87%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.995B $4.855B $4.855B
YoY Change
Total Liabilities & Shareholders Equity $13.40B $13.46B $13.46B
YoY Change -3.18% -3.12% -3.12%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $121.5M $141.7M $686.5M
YoY Change -36.19% 50.74% 19.89%
Depreciation, Depletion And Amortization $101.1M $100.7M $87.20M
YoY Change -11.7% -3.27% -1.36%
Cash From Operating Activities $219.5M $205.6M $843.6M
YoY Change 44.22% -31.69% -11.54%
INVESTING ACTIVITIES
Capital Expenditures $28.00M $33.60M $133.4M
YoY Change 14.29% -184.0% 20.07%
Acquisitions $0.00 $20.20M
YoY Change -100.0% -99.5%
Other Investing Activities -$700.0K $500.0K -$1.500M
YoY Change 133.33% -100.02% -57.14%
Cash From Investing Activities -$27.30M -$33.10M -$109.6M
YoY Change -30.89% -98.85% -97.34%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net $269.5M $947.0M
YoY Change 140.84% 77.37%
Cash From Financing Activities -$275.0M -81.60M -$648.7M
YoY Change 116.19% -105.59% -120.15%
NET CHANGE
Cash From Operating Activities $219.5M 205.6M $843.6M
Cash From Investing Activities -$27.30M -33.10M -$109.6M
Cash From Financing Activities -$275.0M -81.60M -$648.7M
Net Change In Cash -$78.00M 90.90M $69.80M
YoY Change 317.11% -108.11% 84.17%
FREE CASH FLOW
Cash From Operating Activities $219.5M $205.6M $843.6M
Capital Expenditures $28.00M $33.60M $133.4M
Free Cash Flow $191.5M $172.0M $710.2M
YoY Change 49.96% -49.56% -15.7%

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82500000 usd
CY2020 us-gaap Proceeds From Stock Options Exercised
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CY2021 us-gaap Proceeds From Payments For Other Financing Activities
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CY2020 us-gaap Proceeds From Payments For Other Financing Activities
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
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CY2021 us-gaap Net Cash Provided By Used In Financing Activities
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CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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99900000 usd
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327100000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022 us-gaap Basis Of Accounting
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<div style="margin-bottom:12pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Basis of presentation</span></div><div style="margin-bottom:12pt;margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">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.</span></div><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The financial statements reflect the adoption of a new credit losses standard at January 1, 2020. Information about this accounting standard is disclosed in note 3.</span></div><div style="margin-bottom:12pt;margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Conversion of MCPS into Common Stock</span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">In May of 2022, all outstanding shares of 6.250% Series A MCPS, par value $0.01 per share, automatically converted into 62.9 million shares of our common stock, in accordance with their terms. The conversion rate for each share of MCPS was 3.0395 shares of our common stock, subject to receipt of cash in lieu of fractional shares, and was determined based on the price of our common stock on the date of conversion. No outstanding shares of the MCPS remained following the mandatory conversion.</span></div>
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0.01
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62900000 shares
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3.0395
CY2022 us-gaap Use Of Estimates
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<div style="margin-bottom:8pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Use of estimates</span></div><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">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.</span></div>
CY2022 us-gaap Number Of Reportable Segments
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3 segment
CY2022 us-gaap Derivatives Methods Of Accounting Hedging Derivatives
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<div style="margin-bottom:12pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Derivatives and hedging</span></div><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:112%">We use derivative instruments primarily to manage currency exchange and interest rate risks and recognize them as either assets or liabilities which are measured at fair value. </span></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:112%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:112%;padding-left:14.15pt">Cash flow hedges</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:112%"> — We use interest rate derivatives to add stability to interest expense and to manage its exposure to interest rate movements. For derivative instruments that are designated and qualify as a cash flow hedge, the gain or loss on the derivative is recorded in AOCI and reclassified into earnings in the same period(s) during which the hedged transaction affects earnings and is presented in the same income statement line item as the earnings effect of the hedged item.</span></div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:112%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:112%;padding-left:14.15pt">Net Investment hedges</span> — We use foreign currency-denominated debt and cross-currency swaps to hedge our net investments in foreign operations against adverse movements in exchange rates. For derivatives designated as net investment hedges, the gain or loss on the derivative is reported in AOCI as part of the cumulative translation adjustment. Amounts are reclassified out of AOCI into earnings when the hedged net investment is either sold or substantially liquidated
CY2021 us-gaap Business Combination Acquisition Related Costs
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679400000 shares
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CY2022 us-gaap Earnings Per Share Basic
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1.02
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508000000.0 usd
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590500000 shares
CY2021 us-gaap Earnings Per Share Basic
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0.86
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52000000.0 usd
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0.09
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5600000 shares
CY2021 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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9100000 shares
CY2020 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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7100000 shares
CY2022 us-gaap Dilutive Securities Effect On Basic Earnings Per Share Other
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24200000 usd
CY2022 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
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22900000 shares
CY2022 us-gaap Net Income Loss Available To Common Stockholders Diluted
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686500000 usd
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.01
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
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111100000 usd
CY2021 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
508000000.0 usd
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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599600000 shares
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.85
CY2020 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
52000000.0 usd
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
583400000 shares
CY2020 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.09
CY2022 us-gaap Revenues
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CY2021 us-gaap Revenues
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7386100000 usd
CY2020 us-gaap Revenues
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6393600000 usd
CY2022 avtr Adjusted Ebitda
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1570700000 usd
CY2021 avtr Adjusted Ebitda
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1458600000 usd
CY2020 avtr Adjusted Ebitda
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1141600000 usd
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61600000 usd
CY2022 us-gaap Depreciation And Amortization
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CY2021 us-gaap Depreciation And Amortization
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379200000 usd
CY2020 us-gaap Depreciation And Amortization
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395400000 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
686500000 usd
CY2021 us-gaap Net Income Loss
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572600000 usd
CY2020 us-gaap Net Income Loss
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116600000 usd
CY2022 us-gaap Interest Expense
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265800000 usd
CY2021 us-gaap Interest Expense
InterestExpense
217400000 usd
CY2020 us-gaap Interest Expense
InterestExpense
307600000 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
164600000 usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
180400000 usd
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-54300000 usd
CY2022 us-gaap Depreciation And Amortization
DepreciationAndAmortization
405500000 usd
CY2021 us-gaap Depreciation And Amortization
DepreciationAndAmortization
379200000 usd
CY2020 us-gaap Depreciation And Amortization
DepreciationAndAmortization
395400000 usd
CY2022 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-12500000 usd
CY2021 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-12400000 usd
CY2020 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-346800000 usd
CY2022 avtr Foreign Currency Transaction Gain Loss From Financing Activities
ForeignCurrencyTransactionGainLossFromFinancingActivities
-7000000.0 usd
CY2021 avtr Foreign Currency Transaction Gain Loss From Financing Activities
ForeignCurrencyTransactionGainLossFromFinancingActivities
-1300000 usd
CY2020 avtr Foreign Currency Transaction Gain Loss From Financing Activities
ForeignCurrencyTransactionGainLossFromFinancingActivities
700000 usd
CY2022 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
-3300000 usd
CY2021 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
3000000.0 usd
CY2020 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
1300000 usd
CY2022 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
0 usd
CY2021 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
77800000 usd
CY2020 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
0 usd
CY2022 avtr Vwr Transaction Expenses
VWRTransactionExpenses
19200000 usd
CY2021 avtr Vwr Transaction Expenses
VWRTransactionExpenses
15900000 usd
CY2020 avtr Vwr Transaction Expenses
VWRTransactionExpenses
17100000 usd
CY2022 avtr Purchase Accounting Adjustments
PurchaseAccountingAdjustments
9400000 usd
CY2021 avtr Purchase Accounting Adjustments
PurchaseAccountingAdjustments
6300000 usd
CY2020 avtr Purchase Accounting Adjustments
PurchaseAccountingAdjustments
0 usd
CY2022 us-gaap Restructuring Charges
RestructuringCharges
3500000 usd
CY2021 us-gaap Restructuring Charges
RestructuringCharges
5300000 usd
CY2020 us-gaap Restructuring Charges
RestructuringCharges
11800000 usd
CY2022 avtr Disgorgement Penalty
DisgorgementPenalty
0 usd
CY2021 avtr Disgorgement Penalty
DisgorgementPenalty
13000000.0 usd
CY2022 avtr Adjusted Ebitda
AdjustedEBITDA
1570700000 usd
CY2021 avtr Adjusted Ebitda
AdjustedEBITDA
1458600000 usd
CY2020 avtr Adjusted Ebitda
AdjustedEBITDA
1141600000 usd
CY2022 us-gaap Revenues
Revenues
7512400000 usd
CY2021 us-gaap Revenues
Revenues
7386100000 usd
CY2020 us-gaap Revenues
Revenues
6393600000 usd
CY2022 us-gaap Revenues
Revenues
7512400000 usd
CY2021 us-gaap Revenues
Revenues
7386100000 usd
CY2020 us-gaap Revenues
Revenues
6393600000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
727000000.0 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
705500000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
372900000 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
301700000 usd
CY2022Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
24000000.0 usd
CY2021Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
25400000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
396900000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
327100000 usd
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
256900000 usd
CY2021 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
144700000 usd
CY2020 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
42700000 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
242200000 usd
CY2021 us-gaap Interest Paid Net
InterestPaidNet
187000000.0 usd
CY2020 us-gaap Interest Paid Net
InterestPaidNet
317800000 usd
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
5100000 usd
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
5100000 usd
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
5300000 usd
CY2022 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
42900000 usd
CY2021 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
43600000 usd
CY2020 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
42300000 usd
CY2022 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
4600000 usd
CY2021 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
4700000 usd
CY2020 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
4300000 usd
CY2022Q4 us-gaap-supplement Cash Held In Foreign Currency
CashHeldInForeignCurrency
349400000 usd
CY2022Q4 us-gaap-supplement Cash Not Held In Foreign Currency
CashNotHeldInForeignCurrency
0.94 usd
CY2022Q4 us-gaap Retail Related Inventory Merchandise
RetailRelatedInventoryMerchandise
556100000 usd
CY2021Q4 us-gaap Retail Related Inventory Merchandise
RetailRelatedInventoryMerchandise
562900000 usd
CY2022Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
117100000 usd
CY2021Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
102600000 usd
CY2022Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
181200000 usd
CY2021Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
156100000 usd
CY2022Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
59100000 usd
CY2021Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
50400000 usd
CY2022Q4 us-gaap Inventory Net
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913500000 usd
CY2021Q4 us-gaap Inventory Net
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872000000.0 usd
CY2022Q4 us-gaap Percentage Of Lifo Inventory
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0.26
CY2021Q4 us-gaap Percentage Of Lifo Inventory
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0.23
CY2022Q4 us-gaap Excess Of Replacement Or Current Costs Over Stated Lifo Value
ExcessOfReplacementOrCurrentCostsOverStatedLIFOValue
34100000 usd
CY2021Q4 us-gaap Excess Of Replacement Or Current Costs Over Stated Lifo Value
ExcessOfReplacementOrCurrentCostsOverStatedLIFOValue
24900000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1245400000 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1150700000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
518400000 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
445200000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
727000000.0 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
705500000 usd
CY2022 us-gaap Depreciation
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87200000 usd
CY2021 us-gaap Depreciation
Depreciation
88400000 usd
CY2020 us-gaap Depreciation
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87900000 usd
CY2021Q4 us-gaap Goodwill
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5341100000 usd
CY2022 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-120300000 usd
CY2022 us-gaap Goodwill Other Increase Decrease
GoodwillOtherIncreaseDecrease
431800000 usd
CY2022Q4 us-gaap Goodwill
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5652600000 usd
CY2022Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
38800000 usd
CY2022Q4 us-gaap Goodwill Gross
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5691400000 usd
CY2020Q4 us-gaap Goodwill
Goodwill
2860200000 usd
CY2021 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-127200000 usd
CY2021 us-gaap Goodwill Other Increase Decrease
GoodwillOtherIncreaseDecrease
2608100000 usd
CY2021Q4 us-gaap Goodwill
Goodwill
5341100000 usd
CY2021Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
38800000 usd
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
290800000 usd
CY2021Q4 us-gaap Goodwill Gross
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5379900000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
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5791700000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1750700000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
4041000000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
6520800000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1472800000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
5048000000 usd
CY2022Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
92300000 usd
CY2021Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
92300000 usd
CY2022Q4 us-gaap Intangible Assets Gross Excluding Goodwill
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4133300000 usd
CY2021Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
5140300000 usd
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
318300000 usd
CY2020 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
307500000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
313100000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
313100000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
311900000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
310500000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
309000000.0 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
2483400000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
4041000000 usd
CY2022 us-gaap Restructuring Charges
RestructuringCharges
3500000 usd
CY2021 us-gaap Restructuring Charges
RestructuringCharges
5300000 usd
CY2020 us-gaap Restructuring Charges
RestructuringCharges
11800000 usd
CY2022Q4 us-gaap Restructuring And Related Cost Cost Incurred To Date1
RestructuringAndRelatedCostCostIncurredToDate1
9600000 usd
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
6349100000 usd
CY2021Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
7113200000 usd
CY2022Q4 us-gaap Deferred Finance Costs Net
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61600000 usd
CY2021Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
90000000.0 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
6287500000 usd
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
7023200000 usd
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
364200000 usd
CY2021Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
45200000 usd
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
5923300000 usd
CY2021Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
6978000000 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
364200000 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
37300000 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
731300000 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
364400000 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
1417400000 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
3434500000 usd
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
6349100000 usd
CY2022Q4 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
872700000 usd
CY2022Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
13700000 usd
CY2022Q4 us-gaap Line Of Credit
LineOfCredit
327200000 usd
CY2022Q4 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
531800000 usd
CY2022Q4 avtr Line Of Credit Facility Current Borrowing Capacity Upsize
LineOfCreditFacilityCurrentBorrowingCapacityUpsize
400000000 usd
CY2022Q4 avtr Line Of Credit Facility Covenant Compliance Draw Trigger Percentage
LineOfCreditFacilityCovenantComplianceDrawTriggerPercentage
0.35
CY2022 us-gaap Repayments Of Debt
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124000000 usd
CY2021 us-gaap Repayments Of Debt
RepaymentsOfDebt
190000000 usd
CY2022Q4 avtr Line Of Credit Facility Covenant Compliance Draw Trigger Percentage
LineOfCreditFacilityCovenantComplianceDrawTriggerPercentage
0.35
CY2022Q2 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.06250
CY2022Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2022Q2 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
62900000 shares
CY2022Q2 us-gaap Convertible Preferred Stock Terms Of Conversion
ConvertiblePreferredStockTermsOfConversion
3.0395
CY2019Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-85900000 usd
CY2020 us-gaap Other Comprehensive Income Loss Before Reclassifications Before Tax
OtherComprehensiveIncomeLossBeforeReclassificationsBeforeTax
99100000 usd
CY2020 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
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1100000 usd
CY2020 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
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-9600000 usd
CY2020Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
21700000 usd
CY2021 us-gaap Other Comprehensive Income Loss Before Reclassifications Before Tax
OtherComprehensiveIncomeLossBeforeReclassificationsBeforeTax
-56500000 usd
CY2021 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax
-3600000 usd
CY2021 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
12000000.0 usd
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-43200000 usd
CY2022 us-gaap Other Comprehensive Income Loss Before Reclassifications Before Tax
OtherComprehensiveIncomeLossBeforeReclassificationsBeforeTax
-21000000.0 usd
CY2022 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
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8400000 usd
CY2022 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
27700000 usd
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-100300000 usd
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
45800000 usd
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
50700000 usd
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
44100000 usd
CY2022Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
71000000 usd
CY2022 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y7M6D
CY2022 us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions
10300000 usd
CY2021 us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions
30000000 usd
CY2020 us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions
32600000 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
23500000 shares
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized
27000000 shares
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
11.09
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
8.63
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
5.43
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.31
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.29
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.28
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.022
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.011
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.014
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y3M18D
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y3M18D
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y2M12D
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
15400000 usd
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
17200000 usd
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
12000000.0 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
10100000 usd
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
74900000 usd
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
100800000 usd
CY2022 us-gaap Restricted Stock Expense
RestrictedStockExpense
7300000 usd
CY2021 us-gaap Restricted Stock Expense
RestrictedStockExpense
7400000 usd
CY2020 us-gaap Restricted Stock Expense
RestrictedStockExpense
5100000 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
20900000
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
27500000
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
23500000
CY2022 avtr Foreign Currency Transaction Gain Loss From Financing Activities
ForeignCurrencyTransactionGainLossFromFinancingActivities
-7000000.0 usd
CY2021 avtr Foreign Currency Transaction Gain Loss From Financing Activities
ForeignCurrencyTransactionGainLossFromFinancingActivities
-1300000 usd
CY2020 avtr Foreign Currency Transaction Gain Loss From Financing Activities
ForeignCurrencyTransactionGainLossFromFinancingActivities
700000 usd
CY2022 us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent
-6000000.0 usd
CY2021 us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent
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Files In Submission

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