https://www.avient.com/sites/default/files/2021-10/avnt-q3-2021-news-release.pdf
Reconciliation of Pro Forma Adjusted Earnings per Share:
Nine Months Ended
September 30, 2020
Year Ended
December 31, 2020
Net income from continuing operations attributable to Avient shareholders $ 57.8 $ 132.0
Special items, after tax 42.0 24.8
Adjusted net income from continuing operations excluding special items 99.8 156.8
Clariant MB pro forma adjustments to net income from continuing operations(2) 20.7 20.7
Pro forma adjusted net income from continuing operations attributable to Avient
shareholders $ 120.5 $ 177.5
Weighted average diluted shares 90.7 90.6
Pro forma impact to diluted shares from January 2020 equity offering(2) 2.9 1.5
Pro forma weighted average diluted shares 93.6 92.1
Adjusted EPS - excluding special items pro forma for Clariant MB acquisition $ 1.29 $ 1.93
(2) Pro forma adjustments for the periods prior to the acquisition date (July 1, 2020) and to give effects to the financing for the acquisition
15
Nine Months Ended
September 30, 2020
Reconciliation of Pro Forma Adjusted
Earnings per Share: Avient
Special
Items
Adjusted
Avient
Clariant MB
Pro Forma
Adjustments(2)
Pro Forma
Adjusted
Avient
Sales $ 2,245.1 $ — $ 2,245.1 $ 540.5 $ 2,785.6
Operating income $ 124.3 $ 59.1 $ 183.4 $ 45.0 $ 228.4
Interest expense, net (55.3) — (55.3) (18.1) (73.4)
Pension settlement gain and mark-to-market
adjustment — (6.9) (6.9) — (6.9)
Other income, net 12.6 0.3 12.9 — 12.9
Income taxes (22.5) (10.5) (33.0) (6.2) (39.2)
Net income attributable to noncontrolling
interests (1.3) — (1.3) — (1.3)
Net income from continuing operations
attributable to Avient shareholders $ 57.8 $ 42.0 $ 99.8 $ 20.7 $ 120.5
Weighted average diluted shares 90.7
Impact to diluted shares from January 2020 equity offering 2.9
Pro forma weighted average diluted shares 93.6
Pro forma adjusted EPS $ 1.29
(2) Pro forma adjustments for the periods prior to the acquisition date (July 1, 2020) and to give effects to the financing for the acquisition
16
Reconciliation of EBITDA by Segment Three Months Ended
September 30,
Nine Months Ended
September 30,
2021 2020 2021 2020
Operating income:
Color, Additives and Inks $ 66.8 $ 50.5 $ 241.9 $ 123.3
Specialty Engineered Materials 31.7 24.7 103.2 64.0
Distribution 23.8 17.5 71.5 51.5
Corporate and eliminations (43.6) (59.2) (109.4) (114.5)
Operating income $ 78.7 $ 33.5 $ 307.2 $ 124.3
Items below OI in Corporate:
Other income, net $ 1.4 $ 1.5 $ 4.1 $ 12.6
Depreciation & amortization:
Color, Additives and Inks $ 26.6 $ 26.3 $ 79.2 $ 48.0
Specialty Engineered Materials 7.9 7.5 23.8 22.7
Distribution 0.2 0.2 0.6 0.4
Corporate and eliminations 2.1 2.5 4.1 6.2
Depreciation & Amortization $ 36.8 $ 36.5 $ 107.7 $ 77.3
EBITDA:
Color, Additives and Inks $ 93.4 $ 76.8 $ 321.1 $ 171.3
Specialty Engineered Materials 39.6 32.2 127.0 86.7
Distribution 24.0 17.7 72.1 51.9
Corporate and eliminations (41.5) (56.7) (105.3) (108.3)
EBITDA $ 116.9 $ 71.5 $ 419.0 $ 214.2
EBITDA as a % of Sales:
Color, Additives and Inks 15.9 % 15.6 % 17.6 % 17.5 %
Specialty Engineered Materials 17.0 % 18.5 % 18.4 % 16.7 %
Distribution 5.5 % 6.4 % 6.0 % 6.4 %
17
Reconciliation of Pro Forma EBITDA - Color, Additives and Inks Nine Months Ended
September 30, 2020
Sales:
Color, Additives and Inks $ 977.1
Clariant MB pro forma adjustments(2) 540.5
Pro forma sales $ 1,517.6
Operating income:
Color, Additives and Inks $ 123.3
Clariant MB pro forma adjustments(2) 45.0
Pro forma operating income $ 168.3
Depreciation & amortization:
Color, Additives and Inks $ 48.0
Clariant MB pro forma adjustments(2) 30.1
Pro forma depreciation & amortization $ 78.1
Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA):
Color, Additives and Inks $ 171.3
Clariant MB pro forma adjustments(2) 75.1
Pro forma EBITDA $ 246.4
Pro forma EBITDA as a % of Sales 16.2 %
(2) Pro forma adjustments for the periods prior to the acquisition date (July 1, 2020) and to give effects to the financing for the acquisition
Three Months Ended
September 30,
Nine Months Ended
September 30,
Reconciliation to EBITDA and Pro Forma Adjusted EBITDA: 2021 2020 2021 2020
Net income from continuing operations – GAAP $ 52.6 $ 2.6 $ 201.7 $ 59.1
Income tax expense 8.5 2.7 51.8 22.5
Interest expense 19.0 29.7 57.8 55.3
Depreciation and amortization from continuing operations 36.8 36.5 107.7 77.3
EBITDA $ 116.9 $ 71.5 $ 419.0 $ 214.2
Special items, before tax 19.9 50.0 36.5 62.0
Interest expense included in special items — (9.6) — (10.1)
Depreciation and amortization included in special items (0.9) (1.3) (0.1) (2.5)
Adjusted EBITDA $ 135.9 $ 110.6 $ 455.4 $ 263.6
Clariant MB pro forma adjustments(2) — — — 75.1
Pro forma adjusted EBITDA $ 135.9 $ 110.6 $ 455.4 $ 338.7
(2) Pro forma adjustments for the periods prior to the acquisition date (July 1, 2020) and to give effects to the financing for the acquisition
NEWS RELEASE
Attachment 1
https://www.avient.com/sites/default/files/2021-03/avient-antitrust-2021-update-english.pdf
Always adhere
to the principles of honesty, frankness and forthrightness
in the sale of the Company’s products, including the
advertising and promotion of those products.
17.
https://www.avient.com/sites/default/files/2024-03/Terms and Conditions of Sale for Finland %28Finnish Translation%29.pdf
Ostaja nimenomaisesti takaa, että Ostajan työntekijät,
edustajat ja alihankkijat eivät suoraan tai välillisesti (i) hyväksy,
lupaa, tarjoa tai anna mitään sopimatonta etua tai (ii) tee sopimusta
(a) minkään yhteisön tai henkilön kanssa, mukaan lukien hallituksen
tai valtion määräysvallassa olevan yksikön virkamiesten kanssa, tai
(b) tuotteeseen liittyen, mikä merkitsisi sovellettavien Lakien ja
standardien rikkomista.
17.
https://www.avient.com/sites/default/files/2024-03/Terms and Conditions of Sale for Hungary %28Hungarian Translation%29.pdf
A Vevő kifejezetten garantálja, hogy a Vevő alkalmazottai,
ügynökei és alvállalkozói sem közvetlenül sem közvetve nem (i) fogadnak el, ígérnek meg, ajánlanak
fel vagy nyújtanak bármilyen jogosulatlan előnyt, vagy (ii) lépnek szerződésbe (a) bármely entitással
vagy személlyel, beleértve a kormány vagy kormány által irányított entitás hivatalnokait, vagy (b) egy
termékkel kapcsolatban, amely bűncselekményt vagy jogsértést jelentene az alkalmazandó Törvények
és Szabályok szerint.
17.
https://www.avient.com/sites/default/files/2024-12/Terms and Conditions of Sale for Czech Republic %28Czech Translation%29.pdf
Kupující se výslovně zaručuje, že zaměstnanci, zástupci a subdodavatelé
Kupujícího přímo ani nepřímo (i) nepřijmou, neslíbí, nenabídnou ani neposkytnou žádnou nepatřičnou výhodu, ani (ii) neuzavřou
dohodu (a) s žádným subjektem nebo osobou, včetně úředníků státu nebo státem kontrolovaného subjektu, nebo (b) týkající se
produktu, která by představovala trestný čin nebo porušení platných Zákonů a norem.
17.
https://www.avient.com/sites/default/files/2024-12/Terms and Conditions of Sale for France.pdf
Any such statement, sample or other information of Seller in relation to the Specifications, the Products and the use thereof
are furnished for the accommodation of Buyer only and are not warranties or representations of performance.
17.
https://www.avient.com/investor-center/news/avient-announces-second-quarter-2020-results
This was more than offset by weak automotive and consumer discretionary demand, as overall sales declined by 18.6% or 17% on a constant currency basis.
https://www.avient.com/investor-center/news/polyone-announces-second-quarter-2018-results
Adjusted EPS expands 13% to a new second quarter record of $0.71 driven by a 17% increase in operating income from Color, Additives and Inks (CAI) and an 8% increase in operating income from Specialty Engineered Materials (SEM)
https://www.avient.com/sites/default/files/resources/PolyOne%25202013%2520Annual%2520Report.pdf
In doing so, we extended our streak
to 17 consecutive quarters of double-digit adjusted EPS
expansion and a growth CAGR of 25 percent over this
period.
POLYONE CORPORATION 17
ITEM 3.
As of December 31, 2013, there was $3.2 million of total
unrecognized compensation cost related to SARs, which is expected to be recognized over the
weighted average remaining vesting period of 17 months.
https://www.avient.com/sites/default/files/resources/PolyOne%25202015%2520Annual%2520Report.pdf
Milan, Italy Wisconsin
17.
Pamplona, Spain 17.
In November 2015, the FASB issued Accounting Standards Update 2015-17, “Balance Sheet
Classification of Deferred Taxes” (ASU 2015-17).