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  "documentTitle": "Avantor | Investor Conference Presentation Deck | 26 slides",
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  "authorName": "Avantor",
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  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2022-12-01 00:00:00",
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      "text": "1. Represents the Adjusted EBITDA of Avantor for the training twelve-month period plus management's best estimates of the incremental results attributable to acquired companies as if such acquisitions had been\ncompleted on the first day of such trailing twelve-month period, as permitted by our debt covenants. Such estimates and financial information for acquired companies may or may not have been audited, and in\ncertain instances may have been prepared on a basis other than U.S. GAAP though we believe these differences in the basis of accounting to be immaterial for the purpose of presenting Adjusted net leverage.",
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      "text": "($M)\nDebt, gross\nLess: cash and cash equivalents\nNet proceeds received from secondary offering\nNumerator of adjusted net leverage\nTTM adjusted EBITDA1\nTTM ongoing share-based compensation expense\nPro forma adjustment for VWR\nPro forma adjustment for projected synergies\nDenominator of adjusted net leverage\nAdjusted net leverage (non-GAAP)\n2018\n$7,162.9\n(184.7)\n—\n6,978.2\n945.3\n19.1\n—\n29.7\n$994.1\n7.0x\n2019\n$5,249.4\n(186.7)\n—\n5,062.7\n1,031.2\n31.1\n—\n26.8\n$1,089.1\n4.6x\n2020\n$4,972.2\n(286.6)\n—\n4,685.6\n1,141.6\n42.4\n—\n1.6\n$1,185.6\n4.0x\nQ3 2021\n$5,667.4\n(1,426.1)\n967.0\n5,208.3\n1,461.5\n45.9\n—\n—\n$1,507.4\n3.5x",
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      "kind": "title",
      "text": "Reconciliations of GAAP to non-GAAP measures (continued)",
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