https://www.avient.com/sites/default/files/resources/PolyOne%25202015%2520Annual%2520Report.pdf
General Manager, Specialty Film & Sheet, General Electric Plastics, June 2004 to
September 2006.
SELECTED FINANCIAL DATA
Refer to Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of
Operations,” in Part II of this Annual Report on Form 10-K and the notes to our accompanying
consolidated financial statements for additional information regarding the financial data presented
below, including matters that might cause this data not to be indicative of our future financial condition,
results of operations or cash flows.
Refer
to Note 6, Financial Arrangements, for the impact on our Consolidated Balance Sheets.
https://www.avient.com/sites/default/files/resources/POL%2520Gabelli%2520IR%2520Presentation%2520w%2520Non-GAAP%252003%252020%25202014.pdf
Strong past performance demonstrates that our strategy and
execution are working
• Megatrends align with our strengths
• Innovation and services provide differentiation, incremental
pricing power, and competitive advantage
• Strong and proven management team driving growth and
performance
• Addressable market exceeds $40 billion
Page 14
1
Schedule I
Reconciliation of Non-GAAP Financial Measures (Unaudited)
(Dollars in millions, except per share data)
Below is a reconciliation of non-GAAP financial measures to the most directly comparable measures calculated and presented
in accordance with U.S.
Reconciliation to Condensed Consolidated Balance Sheets 2013
Short-term debt and current portion of long-term debt $ 12.7
Long-term debt 976.2
Less cash and cash equivalents (365.2)
Net debt $ 623.7
Adjusted EBITDA 2013
Income before income taxes $ 151.0
Interest expense, net 63.5
Depreciation and amortization 108.8
Special items in EBITDA 31.7
Adjusted EBITDA $ 355.0
2
Platform sales and operating income (OI) 2006Y* 2013Y
Global Specialty Engineered Materials sales $ 345.3 $ 615.5
Global Color, Additives and Inks sales 531.8 852.3
Designed Structures and Solutions sales - 597.4
Specialty Platform sales 877.1 2,065.2
Performance Products and Solutions sales 1,166.2 773.2
PolyOne Distribution sales 732.8 1,075.2
Corporate and eliminations (153.7) (142.4)
Total sales $ 2,622.4 $ 3,771.2
Global Specialty Engineered Materials OI $ 3.9 $ 57.2
Global Color, Additives and Inks OI 8.9 104.0
Designed Structures & Solutions OI - 33.4
Specialty Platform OI 12.8 194.6
Performance Products and Solutions OI 64.2 56.0
PolyOne Distribution OI 19.2 63.3
Sunbelt Joint Venture OI 102.9 -
Corporate and eliminations (4.6) (52.4)
Special items in OI 39.1 (30.0)
Operating income GAAP 233.6 231.5
Sunbelt equity income (107.0) -
Special items in OI (39.1) 30.0
Adjusted operating income $ 87.5 $ 261.5
Global Specialty Engineered Materials - OI % of sales 1.1% 9.3%
Global Color, Additives and Inks - OI % of sales 1.7% 12.2%
Designed Structures & Solutions - OI % of sales - 5.6%
Specialty platform OI - % of sales 1.5% 9.4%
PP&S operating OI - % of sales 5.5% 7.2%
Distribution OI - % of sales 2.6% 5.9%
PolyOne OI adjusted - % of sales 3.3% 6.9%
* Historical results include the Resin and Specialty Coatings businesses within the Performance Products and Solutions segment.
PolyOne Investor Presentation��Gabelli & Company �5th Annual Specialty Chemical Conference�March 20, 2014�
Forward – Looking Statements
Use of Non-GAAP Measures
PolyOne Commodity to Specialty Transformation
Strategy and Execution Drive Results
PolyOne�At A Glance
Mix Shift Highlights Specialty Transformation
Proof of Performance & 2015 Goals
Bridge To $2.50 Adjusted EPS By 2015
Innovation Drives Earnings Growth
Unique and Innovative Solutions that Help Customers Win
Debt Maturities & Pension Funding – 12/31/13
Free Cash Flow and Strong Balance Sheet Fund Investment
Why Invest In PolyOne?
https://www.avient.com/sites/default/files/2024-03/AS-FILED EF20024640 Avient Corp ARS.pdf
In addition, we store sensitive data, including proprietary business information,
intellectual property and confidential employee or other personal data, on our servers and databases.
Further, Avient has a Cyber and Data Incident Response Team (CDIRT), which is a cross-functional group
established to provide a quick, effective and orderly response to cyber and data related events.
Amounts invested in our
foreign operations are translated into U.S. dollars at the exchange rates in effect at the balance sheet date.
https://www.avient.com/industries/packaging/beverage-packaging/water
Product information and technical data sheet for ColorMatrix™ TripleA™ additive technology, which reduces Acetaldehyde levels in PET packaging
Corrugated Sheet
Extrusion Sheet & Strap
https://www.avient.com/sites/default/files/AVNT Q1 2023 Earnings Press Release.pdf
Rose
Vice President, Marketing and Communications
Avient Corporation
+1 440-930-3162
kyle.rose@avient.com
mailto:giuseppe.disalvo@avient.com
mailto:kyle.rose@avient.com
7
Attachment 1
Avient Corporation
Summary of Condensed Consolidated Statements of Income (Unaudited)
(In millions, except per share data)
Three Months Ended
March 31,
2023 2022
Sales $ 845.7 $ 892.2
Operating Income 57.1 102.2
Net income from continuing operations attributable to Avient shareholders 20.8 64.4
Basic earnings per share from continuing operations attributable to Avient shareholders $ 0.23 $ 0.70
Diluted earnings per share from continuing operations attributable to Avient shareholders $ 0.23 $ 0.70
Senior management uses comparisons of adjusted net income from continuing operations attributable to Avient shareholders and
diluted adjusted earnings per share (EPS) from continuing operations attributable to Avient shareholders, excluding special items,
to assess performance and facilitate comparability of results.
Three Months Ended
March 31, 2023
Three Months Ended
March 31, 2022
Reconciliation to Condensed Consolidated Statements of Income $ EPS $ EPS
Net income from continuing operations attributable to Avient shareholders $ 20.8 $ 0.23 $ 64.4 $ 0.70
Special items, after tax (Attachment 3) 22.3 0.24 6.4 0.07
Amortization expense, after-tax 15.1 0.16 10.8 0.12
Adjusted net income / EPS $ 58.2 $ 0.63 $ 81.6 $ 0.89
8
Attachment 2
Avient Corporation
Condensed Consolidated Statements of Income (Unaudited)
(In millions, except per share data)
Three Months Ended
March 31,
2023 2022
Sales $ 845.7 $ 892.2
Cost of sales 598.1 637.8
Gross margin 247.6 254.4
Selling and administrative expense 190.5 152.2
Operating income 57.1 102.2
Interest expense, net (28.8) (16.9)
Other income (expense), net 0.7 (0.6)
Income from continuing operations before income taxes 29.0 84.7
Income tax expense (7.7) (20.0)
Net income from continuing operations 21.3 64.7
(Loss) income from discontinued operations, net of income taxes (0.9) 19.8
Net income 20.4 84.5
Net income attributable to noncontrolling interests (0.5) (0.3)
Net income attributable to Avient common shareholders $ 19.9 $ 84.2
Earnings (loss) per share attributable to Avient common shareholders - Basic:
Continuing operations $ 0.23 $ 0.70
Discontinued operations (0.01) 0.22
Total $ 0.22 $ 0.92
Earnings (loss) per share attributable to Avient common shareholders - Diluted:
Continuing operations $ 0.23 $ 0.70
Discontinued operations (0.01) 0.21
Total $ 0.22 $ 0.91
Cash dividends declared per share of common stock $ 0.2475 $ 0.2375
Weighted-average shares used to compute earnings per common share:
Basic 91.0 91.5
Diluted 91.8 92.3
9
Attachment 3
Avient Corporation
Summary of Special Items (Unaudited)
(In millions, except per share data)
Special items (1) Three Months Ended
March 31,
2023 2022
Cost of sales:
Restructuring costs, including accelerated depreciation $ (6.6) $ (4.4)
Environmental remediation costs (1.4) (2.0)
Reimbursement of previously incurred environmental costs — 0.6
Impact on cost of sales (8.0) (5.8)
Selling and administrative expense:
Restructuring, legal and other (15.7) 1.9
Acquisition related costs (3.4) (2.9)
Impact on selling and administrative expense (19.1) (1.0)
Impact on operating income (27.1) (6.8)
Other income (loss), net (0.2) 0.1
Impact on income from continuing operations before income taxes (27.3) (6.7)
Income tax expense (benefit) on above special items 6.9 1.8
Tax adjustments(2) (1.9) (1.5)
Impact of special items on net income from continuing operations $ (22.3) $ (6.4)
Diluted earnings per common share impact $ (0.24) $ (0.07)
Weighted average shares used to compute adjusted earnings per share:
Diluted 91.8 92.3
(1) Special items include charges related to specific strategic initiatives or financial restructuring such as: consolidation of operations; debt
extinguishment costs; costs incurred directly in relation to acquisitions or divestitures; employee separation costs resulting from personnel
reduction programs, plant realignment costs, executive separation agreements; asset impairments; settlement gains or losses and mark-to-
market adjustments associated with actuarial gains and losses on pension and other post-retirement benefit plans; environmental remediation
costs, fines, penalties and related insurance recoveries related to facilities no longer owned or closed in prior years; gains and losses on the
divestiture of operating businesses, gains and losses on facility or property sales or disposals; results of litigation, fines or penalties, where
such litigation (or action relating to the fines or penalties) arose prior to the commencement of the performance period; one-time, non-recurring
items; and the effect of changes in accounting principles or other such laws or provisions affecting reported results
Three Months Ended
March 31,
2023 2022
Sales:
Color, Additives and Inks $ 537.0 $ 649.5
Specialty Engineered Materials 309.7 243.1
Corporate (1.0) (0.4)
Sales $ 845.7 $ 892.2
Gross margin:
Color, Additives and Inks $ 162.0 $ 192.1
Specialty Engineered Materials 93.9 68.4
Corporate (8.3) (6.1)
Gross margin $ 247.6 $ 254.4
Selling and administrative expense:
Color, Additives and Inks $ 96.4 $ 97.6
Specialty Engineered Materials 50.8 30.1
Corporate 43.3 24.5
Selling and administrative expense $ 190.5 $ 152.2
Operating income:
Color, Additives and Inks $ 65.6 $ 94.5
Specialty Engineered Materials 43.1 38.3
Corporate (51.6) (30.6)
Operating income $ 57.1 $ 102.2
Depreciation & amortization:
Color, Additives and Inks $ 25.8 $ 26.0
Specialty Engineered Materials 21.2 7.8
Corporate 3.5 3.8
Depreciation & Amortization $ 50.5 $ 37.6
Earnings before interest, taxes, depreciation and amortization (EBITDA):
Color, Additives and Inks $ 91.4 $ 120.5
Specialty Engineered Materials 64.3 46.1
Corporate (48.1) (26.8)
Other income (expense), net 0.7 (0.6)
EBITDA $ 108.3 $ 139.2
13
Attachment 7
Avient Corporation
Reconciliation of Non-GAAP Financial Measures (Unaudited)
(In millions, except per share data)
Senior management uses gross margin before special items and operating income before special items to assess performance
and allocate resources because senior management believes that these measures are useful in understanding current profitability
levels and how it may serve as a basis for future performance.
https://www.avient.com/sites/default/files/2021-01/case-study-one-pager-lubrione-data-storage-carrier.pdf
DATA STORAGE UNIT
MANUFACTURER
D A T A S T O R A G E C A R R I E R
• Excellent dimensional stability
• Good mechanical properties with excellent wear
resistance
• Flame retardant requirement – FRv0 compliance
• UL certification
• Provided a customized formulation to meet
application-specific lubricity, physical and
thermal requirements
• Delivered on short lead times to help
customer manage working capital
LubriOne™ CY1000-000/5T FR V0 BLK001
Formulation
KEY REQUIREMENTS
WHY AVIENT?
https://www.avient.com/sites/default/files/2023-02/AVNT Q4 2022 Earnings Press Release-1.pdf
We then paid down $950 million of debt, providing us a strong balance
sheet to navigate through this period of macro-economic uncertainty.”
3
“We have never wavered from our goal of becoming a specialty formulator.
Rose
Vice President, Corporate Communications
Avient Corporation
+1 440-930-3162
kyle.rose@avient.com
8
Attachment 1
Avient Corporation
Summary of Condensed Consolidated Statements of Income (Unaudited)
(In millions, except per share data)
Three Months Ended
December 31,
Year Ended
December 31,
2022 2021 2022 2021
Sales $ 790.4 $ 807.1 $ 3,396.9 $ 3,315.5
Operating Income 0.4 50.2 243.3 279.7
Net (loss) income from continuing operations attributable to Avient
shareholders (17.0) 11.2 82.8 151.8
Diluted (loss) earnings per share from continuing operations attributable
to Avient shareholders $ (0.19) $ 0.12 $ 0.90 $ 1.65
Senior management uses comparisons of adjusted net income from continuing operations attributable to Avient shareholders and
diluted adjusted earnings per share (EPS) from continuing operations attributable to Avient shareholders, excluding special items,
to assess performance and facilitate comparability of results.
Three Months Ended
December 31,
Year Ended
December 31,
2022 2021 2022 2021
Sales:
Color, Additives and Inks $ 490.8 $ 581.3 $ 2,355.0 $ 2,401.6
Specialty Engineered Materials 300.8 226.3 1,044.4 911.6
Corporate (1.2) (0.5) (2.5) 2.3
Sales $ 790.4 $ 807.1 $ 3,396.9 $ 3,315.5
Gross margin:
Color, Additives and Inks $ 134.5 $ 164.5 $ 681.3 $ 727.5
Specialty Engineered Materials 82.4 58.3 283.7 250.9
Corporate (44.9) (6.2) (82.3) (34.6)
Gross margin $ 172.0 $ 216.6 $ 882.7 $ 943.8
Selling and administrative expense:
Color, Additives and Inks $ 90.2 $ 103.3 $ 380.3 $ 424.4
Specialty Engineered Materials 47.2 31.2 143.6 125.4
Corporate 34.2 31.9 115.5 114.3
Selling and administrative expense $ 171.6 $ 166.4 $ 639.4 $ 664.1
Operating income:
Color, Additives and Inks $ 44.3 $ 61.2 $ 301.0 $ 303.1
Specialty Engineered Materials 35.2 27.1 140.1 125.5
Corporate (79.1) (38.1) (197.8) (148.9)
Operating income $ 0.4 $ 50.2 $ 243.3 $ 279.7
14
Attachment 7
Avient Corporation
Reconciliation of Non-GAAP Financial Measures (Unaudited)
(In millions, except per share data)
Senior management uses gross margin before special items and operating income before special items to assess performance
and allocate resources because senior management believes that these measures are useful in understanding current profitability
levels and how it may serve as a basis for future performance.
https://www.avient.com/sites/default/files/2025-05/Avient Announces First Quarter 2025 Results_0.pdf
We are focused on executing
what we can influence, which includes staying close to our customers, winning share and new
business, proactively working to offset raw material or tariff-related inflation, controlling our
costs and strengthening our balance sheet.
Rose
Vice President, Corporate Communications
Avient Corporation
+1 440-930-3162
kyle.rose@avient.com
6
Attachment 1
Avient Corporation
Reconciliation of Adjusted Net Income and Earnings Per Share (Unaudited)
(In millions, except per share data)
Senior management uses comparisons of adjusted net income attributable to Avient common shareholders and diluted adjusted
earnings per share (EPS) attributable to Avient common shareholders, excluding special items, to assess performance and
facilitate comparability of results.
Three Months Ended
March 31,
2025 2024
Sales:
Color, Additives and Inks $ 519.7 $ 515.3
Specialty Engineered Materials 308.4 314.4
Corporate (1.5) (0.7)
Sales $ 826.6 $ 829.0
Gross margin:
Color, Additives and Inks $ 173.1 $ 171.2
Specialty Engineered Materials 97.8 107.0
Corporate (7.7) —
Gross margin $ 263.2 $ 278.2
Selling and administrative expense:
Color, Additives and Inks $ 94.5 $ 96.4
Specialty Engineered Materials 50.7 53.6
Corporate 117.3 34.2
Selling and administrative expense $ 262.5 $ 184.2
Operating income:
Color, Additives and Inks $ 78.6 $ 74.8
Specialty Engineered Materials 47.1 53.4
Corporate (125.0) (34.2)
Operating income $ 0.7 $ 94.0
Depreciation & amortization:
Color, Additives and Inks $ 21.7 $ 21.9
Specialty Engineered Materials 21.5 19.6
Corporate 2.1 2.8
Depreciation & amortization $ 45.3 $ 44.3
Earnings before interest, taxes, depreciation and amortization (EBITDA):
Color, Additives and Inks $ 100.3 $ 96.7
Specialty Engineered Materials 68.6 73.0
Corporate (122.9) (31.4)
Other expense, net (0.4) (0.9)
EBITDA $ 45.6 $ 137.4
Special items, before tax 101.2 6.2
Interest expense included in special items (1.7) —
Depreciation & amortization included in special items (0.4) (0.5)
Adjusted EBITDA $ 144.7 $ 143.1
12
Attachment 7
Avient Corporation
Reconciliation of Non-GAAP Financial Measures (Unaudited)
(In millions, except per share data)
Senior management uses operating income before special items to assess performance and allocate resources because senior
management believes that this measure is most useful in understanding current profitability levels and how it may serve as a
basis for future performance.
https://www.avient.com/sites/default/files/resources/PolyOne%25202014%2520Annual%2520Report.pdf
Designed Structures and
Solutions is comprised of the former Spartech Custom Sheet and Rollstock and Packaging
Technologies businesses.
General Manager, Specialty Film & Sheet, General Electric Plastics, June 2004 to
September 2006.
SELECTED FINANCIAL DATA
Refer to Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of
Operations,” in Part II of this Annual Report on Form 10-K and the notes to our accompanying
consolidated financial statements for additional information regarding the financial data presented
below, including matters that might cause this data not to be indicative of our future financial condition,
results of operations or cash flows.
https://www.avient.com/sites/default/files/2022-04/Avient Q1 2022 Earnings Release.pdf
Rose
Vice President, Corporate Communications
Avient Corporation
+1 440-930-3162
kyle.rose@avient.com
mailto:giuseppe.disalvo@avient.com
mailto:kyle.rose@avient.com
5
Attachment 1
Avient Corporation
Summary of Condensed Consolidated Statements of Income (Unaudited)
(In millions, except per share data)
Three Months Ended
March 31,
2022 2021
Sales $ 1,293.8 $ 1,162.3
Operating Income 128.6 120.4
Net income attributable to Avient shareholders 84.2 79.3
Basic earnings per share attributable to Avient shareholders $ 0.92 $ 0.87
Diluted earnings per share attributable to Avient shareholders $ 0.91 $ 0.86
Senior management uses comparisons of adjusted net income attributable to Avient shareholders and diluted adjusted earnings
per share (EPS) attributable to Avient shareholders, excluding special items, to assess performance and facilitate comparability
of results.
Three Months Ended
March 31, 2022
Three Months Ended
March 31, 2021
Reconciliation to Condensed Consolidated Statements of Income $ EPS $ EPS
Net income attributable to Avient shareholders $ 84.2 $ 0.91 $ 79.3 $ 0.86
Special items, after tax (Attachment 3) 7.2 0.08 2.6 0.03
Adjusted net income / EPS - excluding special items $ 91.4 $ 0.99 $ 81.9 $ 0.89
6
Attachment 2
Avient Corporation
Condensed Consolidated Statements of Income (Unaudited)
(In millions, except per share data)
Three Months Ended
March 31,
2022 2021
Sales $ 1,293.8 $ 1,162.3
Cost of sales 1,000.1 859.9
Gross margin 293.7 302.4
Selling and administrative expense 165.1 182.0
Operating income 128.6 120.4
Interest expense, net (16.9) (19.3)
Other (expense) income, net (0.6) 1.5
Income before income taxes 111.1 102.6
Income taxes (26.6) (22.9)
Net income 84.5 79.7
Net income attributable to noncontrolling interests (0.3) (0.4)
Net income attributable to Avient shareholders $ 84.2 $ 79.3
Earnings per share attributable to Avient common shareholders - Basic $ 0.92 $ 0.87
Earnings per share attributable to Avient common shareholders - Diluted $ 0.91 $ 0.86
Cash dividends declared per share of common stock $ 0.2375 $ 0.2125
Weighted-average shares used to compute earnings per common share:
Basic 91.5 91.3
Diluted 92.3 92.2
7
Attachment 3
Avient Corporation
Summary of Special Items (Unaudited)
(In millions, except per share data)
Special items (1) Three Months Ended
March 31,
2022 2021
Cost of sales:
Restructuring costs, including accelerated depreciation and amortization $ (4.4) $ (1.8)
Environmental remediation costs (2.0) (0.5)
Reimbursement of previously incurred environmental costs 0.6 4.5
Impact on cost of sales (5.8) 2.2
Selling and administrative expense:
Restructuring, legal and other 0.9 (1.3)
Acquisition related costs (2.9) (3.3)
Impact on selling and administrative expense (2.0) (4.6)
Impact on operating income (7.8) (2.4)
Other income, net 0.1 —
Impact on income before income taxes (7.7) (2.4)
Income tax benefit on above special items 2.0 0.9
Tax adjustments(2) (1.5) (1.1)
Impact of special items on net income attributable to Avient Shareholders $ (7.2) $ (2.6)
Diluted earnings per common share impact $ (0.08) $ (0.03)
Weighted average shares used to compute adjusted earnings per share:
Diluted 92.3 92.2
(1) Special items include charges related to specific strategic initiatives or financial restructuring such as: consolidation of operations; debt
extinguishment costs; costs incurred directly in relation to acquisitions or divestitures; employee separation costs resulting from personnel
reduction programs, plant realignment costs, executive separation agreements; asset impairments; settlement gains or losses and mark-to-
market adjustments associated with actuarial gains and losses on pension and other post-retirement benefit plans; environmental remediation
costs, fines, penalties and related insurance recoveries related to facilities no longer owned or closed in prior years; gains and losses on the
divestiture of operating businesses, joint ventures and equity investments; gains and losses on facility or property sales or disposals; results
of litigation, fines or penalties, where such litigation (or action relating to the fines or penalties) arose prior to the commencement of the
performance period; one-time, non-recurring items; and the effect of changes in accounting principles or other such laws or provisions affecting
reported results
Three Months Ended
March 31,
2022 2021
Sales:
Color, Additives and Inks $ 649.5 $ 609.3
Specialty Engineered Materials 244.7 216.5
Distribution 432.9 362.7
Corporate and eliminations (33.3) (26.2)
Sales $ 1,293.8 $ 1,162.3
Gross margin:
Color, Additives and Inks $ 192.1 $ 197.5
Specialty Engineered Materials 69.8 64.7
Distribution 39.3 39.3
Corporate and eliminations (7.5) 0.9
Gross margin $ 293.7 $ 302.4
Selling and administrative expense:
Color, Additives and Inks $ 97.6 $ 108.7
Specialty Engineered Materials 30.1 30.5
Distribution 15.1 15.3
Corporate and eliminations 22.3 27.5
Selling and administrative expense $ 165.1 $ 182.0
Operating income:
Color, Additives and Inks $ 94.5 $ 88.8
Specialty Engineered Materials 39.7 34.2
Distribution 24.2 24.0
Corporate and eliminations (29.8) (26.6)
Operating income $ 128.6 $ 120.4
Earnings before interest, taxes, depreciation and amortization (EBITDA):
Color, Additives and Inks $ 120.5 $ 116.2
Specialty Engineered Materials 47.5 42.0
Distribution 24.4 24.2
Corporate and eliminations (26.0) (24.9)
Other income, net (0.6) 1.5
EBITDA $ 165.8 $ 159.0
11
Attachment 7
Avient Corporation
Reconciliation of Non-GAAP Financial Measures (Unaudited)
(In millions, except per share data)
Senior management uses gross margin before special items and operating income before special items to assess performance
and allocate resources because senior management believes that these measures are useful in understanding current profitability
levels and how it may serve as a basis for future performance.