The following condensed unconsolidated financial statements should be read in conjunction with our consolidated financial statements and notes thereto because certain applicable disclosures are provided there. In these condensed unconsolidated financial statements, all of our subsidiaries are wholly-owned for the periods presented and presented as investments of Avantor, Inc. under the equity method. Under that method, the equity interest in subsidiaries’ assets and liabilities is stated as a net non current asset at historical cost on the balance sheet.

No statements of operations are included because Avantor, Inc. only had equity in the earnings or loss of its subsidiaries for the periods presented in amounts equal to our consolidated net income or loss.


(in millions)	December 31,
	2025		2024
Assets
Investment in unconsolidated subsidiaries	$	5,565.0	$	5,956.7
Total assets	$	5,565.0	$	5,956.7
Stockholders’ equity

Common stock including paid-in capital, 682.0 and 680.8 shares outstanding	3,984.8		3,937.7
Treasury stock at cost, 6.6 and 0.0 shares	(75.7)		—
Accumulated earnings	1,672.8		2,203.0
Accumulated other comprehensive loss	(16.9)		(184.0)
Total stockholders’ equity	$	5,565.0	$	5,956.7


(in millions)	Year ended December 31, 2025		Year ended December 31, 2024		Year ended December 31, 2023
Cash flows from investing activities:
Contribution from (to) unconsolidated subsidiaries	$	0.5	$	(60.6)	$	(4.6)
Net cash provided by (used in) investing activities	0.5		(60.6)		(4.6)
Cash flows from financing activities:




Proceeds received from exercise of stock options	5.1		69.2		18.3
Shares repurchased to satisfy employee tax obligations for vested stock-based awards	(5.6)		(8.6)		(13.7)
Net cash (used in) provided by financing activities	(0.5)		60.6		4.6
Net change in cash and cash equivalents	—		—		—
Cash, cash equivalents and restricted cash, beginning of year	—		—		—
Cash, cash equivalents and restricted cash, end of year	$	—	$	—	$	—