https://www.avient.com/sites/default/files/2024-08/Cesa Non-PFAS Blown Film Snapshot.pdf
FILM
MANUFACTURER
B L O W N F I L M
• Maintain comparable performance to PFAS additives
• Meet regulatory compliance
• Eliminate melt fracture and reduce die buildup
• Increase productivity by reducing product changeover time
• Provided a non-PFAS formulation that met
all performance and regulatory requirements
and did not interact with other additives
• Helped eliminate melt fracture with a quick
time to clear of under forty minutes
• Delivered technical support, including
comprehensive testing on various
chemistries and polymers
• Attained high throughput with a minimal
amount of additive
Cesa™ Non-PFAS Process Aid for Extrusion
KEY REQUIREMENTS
WHY AVIENT?
https://www.avient.com/sites/default/files/2024-10/Versaflex TPEs - EEG headset- case study snapshot.pdf
artery tourniquet
EEG WEARABLE
MANUFACTURER
P A R T S O F E E G H E A D S E T
• Compliance with medical regulation USP Class VI
• Increase production efficiency with a simple injection
process
• High transparency with soft touch
KEY REQUIREMENTS
COMPLIANCE + SOFT TOUCH
LEARN MORE
Copyright © 2024, Avient Corporation.
https://www.avient.com/sites/default/files/resources/Terms_and_Conditions_for_Canada_%2528French_Language%2529.pdf
Microsoft Word - Terms and Conditions for Canada (French)[2].doc
CONDITIONS GÉNÉRALES
Les conditions générales ci-dessous s’appliquent à la vente de tous les produits fabriqués par PolyOne.
1.
Sous réserve du paragraphe 2, et sauf comme il est expressément stipulé aux
présentes, le vendeur garantit que le titre est libre et franc et que le produit sera conforme aux
spécifications publiées du vendeur, le cas échéant, ou à d’autres normes ou mesures de qualité
énoncées aux présentes.
Ces garanties ne
s’appliquent qu’à l’acheteur.
2.
https://www.avient.com/sites/default/files/2021-04/avient-sustain-2019-210419-interactive.pdf
Tianjin, China 2.
TRIR: 0.56
2.
PSIC: 0
2.
https://www.avient.com/sites/default/files/2020-10/2019-avient-sustainability-report.pdf
Tianjin, China 2.
TRIR: 0.56
2.
PSIC: 0
2.
https://www.avient.com/sites/default/files/2024-03/2024 Proxy Statement %28Filed%29.pdf
Name and Principal Position
Year
Salary
Bonus
(f)
Non-Equity
Plan
Compensation
(g)
All Other
Total
(i)
Ashish K.
Estimated Future Payouts Under Equity Incentive Plan Awards (columns (f) and (g))
(3) Stock Appreciation Rights.
Garratt
2/08/2021 — — — — — 5,417 225,185
2/14/2022 — — — — — 4,794 199,287
2/17/2023 — — — — — 5,701 236,991
2/04/2015 9,200 — — 38.27 2/04/2025 — —
2/15/2017 13,250 — — 34.10 2/15/2027 — —
2/14/2018 11,050 — — 41.89 2/14/2028 — —
2/11/2019 18,200 — — 31.54 2/11/2029 — —
2/10/2020 19,650 — — 31.48 2/10/2030 — —
2/08/2021 13,433 6,717 — 42.27 2/08/2031 — —
2/14/2022 — — 16,000 52.64 2/14/2032 — —
2/17/2023 — — 18,800 42.93 2/17/2033 — —
2/08/2021 — — — — — 5,417 225,185
2/14/2022 — — — — — 4,794 199,287
2/17/2023 — — — — — 7,036 292,487
2/4/2015 2,500 — — 38.27 2/4/2025 — —
2/10/2016 10,400 — — 24.98 2/10/2026 — —
2/15/2017 10,100 — — 34.10 2/15/2027 — —
2/14/2018 10,400 — — 41.89 2/14/2028 — —
2/11/2019 17,150 — — 31.54 2/11/2029 — —
2/10/2020 19,200 — — 31.48 2/10/2030 — —
2/08/2021 13,433 6,717 — 42.27 2/08/2031 — —
2/14/2022 — — 16,000 52.64 2/14/2032 — —
2/17/2023 — — 23,250 42.93 2/17/2033 — —
L.K.
https://www.avient.com/sites/default/files/resources/Innovation_Day_-_May_2014_0.pdf
Slide 1
PolyOne Corporation Page 1
PolyOne Innovation Day
InterContinental Hotel
New York, New York
May 29, 2014
PolyOne Corporation Page 2
Forward-Looking Statements
In this presentation, statements that are not reported financial results or other historical information are “forward-looking statements” within the meaning of
the Private Securities Litigation Reform Act of 1995.
Christopher Murphy
Vice President, Research and Development
Chief Innovation Officer
PolyOne Corporation Page 22
2 lbs Plastic
=
3 lbs aluminum
or
8 lbs steel
or
27 lbs glass
33% less material by weight
than aluminum
75% less material by weight
than steel
93% less material by weight
than glass
Requires 91% less energy
to recycle a pound of plastic
versus a pound of paper
Source: SPI: Sustainability and the Plastics Industry
Plastics: Key to Future Sustainable Development
PolyOne Corporation Page 23
Decreasing
Dependence on
Fossil Fuels
Globalizing
and Localizing
• Aging
population
• Longer life
expectancy
• Healthy living
• Aging in place
• Environmental
consciousness
• Alternative
energy
• Resource
efficiency
• Biotechnology
• Global
leader/local
expert with
customized
solutions
• Global OEMs
seeking one
standard of
service
everywhere
• Efficiency focus
• Reduced
size/weight
• Mass transit
• Alternative
materials
• Electric
vehicles
Protecting the
Environment
Improving
Health and
Wellness
Alignment with Megatrends
PolyOne Corporation Page 24
Innovation Drives Earnings Growth
$20
$53
2006 2013
Research & Development
Spending
($ millions)
Specialty Platform
Vitality Index
Progression*
*Percentage of Specialty Platform revenue from products introduced in last five years
14.3%
30.7%
2006 2013
Specialty Platform
Gross Margin %
19.5%
43.0%
2006 2013
PolyOne Corporation Page 25
Prototype Frame
Opportunity
Scale-up &
Test Market
Build
Business Case
Commercial
Launch
Phase
1
Phase
2
Phase
3
Phase
4
Phase
5
4
11
5
10
6
9
3 4 2
15
9
1
10
4
Breakthrough
Platform
Derivative
A Rich Pipeline of Opportunity
Number of Projects 25 14 19 17 18 93
Addressable Market
($ millions)
TBD TBD $800 $450 $450 $1,700
PolyOne Corporation Page 26
Recent Innovations
Aligned with Megatrends
in Key End Markets and
2015 Goals
Robert M.
Van Hulle
Global Color Additives and Inks
Percept™ Authentication Technologies
2) Security and Safety Solutions
Julie A.
https://www.avient.com/sites/default/files/resources/PolyOne%2520Investor%2520Presentation%2520Longbow%2520Basic%2520Materials%2520Conference%2520-%2520March%25202016.pdf
PolyOne Corporation Page 1
PolyOne Investor Presentation
March 2016
PolyOne Corporation Page 2
Forward-Looking Statements
In this presentation, statements that are not reported financial results or other historical information are “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995.
PolyOne Corporation Page 4
PolyOne Commodity to Specialty Transformation
• Volume driven,
commodity producer
• Heavily tied to
cyclical end markets
• Performance largely
dependent on non-
controlling joint
ventures
2000-2005 2006 - 2009 2010 – 2015 2016 and
beyond
• Steve Newlin
appointed, Chairman,
President and CEO
• New leadership team
appointed
• Implementation of four
pillar strategy
• Focus on value based
selling, investment in
commercial resources
and innovation to drive
transformation
• Substantial EPS growth
from $0.13 to all-time
high of $1.96
• Shift to faster growing,
high margin, less
cyclical end markets
• Key acquisitions propel
current and future
growth, as well as
margin expansion
• Specialty mix expands
to 65% of Operating
Income – strongest mix
of earnings in history
• Deliver consistent
double digit annual
EPS growth
• Maintain >35% vitality
index
• Pursue strategic
acquisitions that
expand specialty
offerings and
geographic breadth
• Invest and grow
current and next
generation talent
PolyOne Corporation Page 5
25 Consecutive Quarters of EPS Growth
Note: 2009 has not been restated for subsequent changes in accounting principles or discontinued operations
-$0.10
$0.00
$0.10
$0.30
$0.50
$0.60
2009 2010 2011 2012 2013 2014 2015
Adjusted Earnings Per Share
-2%
0%
10%
2009 2010 2011 2012 2013 2014 2015
Adjusted Consolidated Operating Margin
2.8%
5.2% 5.6%
6.7%
8.3%
6.9%
9.5%
PolyOne Corporation Page 6
2015 Revenues: $3.4 Billion
End Markets
2015 Revenues: $3.4 Billion
PolyOne
At A Glance
$0.12
$0.27 $0.21 $0.13
$0.68
$0.82
$1.00
$1.31
$1.80
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Adjusted EPS
66%
Building &
10%Electrical &
Textiles
Distribution
29%
PP&S
Specialty
51%
$1.96
PolyOne Corporation Page 7
Old
PolyOne
*Operating Income excludes corporate charges and special items
2%
43%
65%
0%
20%
40%
60%
80%
100%
2005 2010 2015 2020
%
o
f O
pe
ra
tin
g
In
co
m
e*
JV's Performance Products & Solutions Distribution Specialty
80%+
Specialty OI $5M $87M $229M
Mix Shift Highlights Specialty Transformation
Transformation
2020
Platinum
Vision
Platinum
Vision
PolyOne Corporation Page 8
Color and Engineered Materials at the
Heart of Specialty Transformation
OPERATING MARGIN
1.7%
4.6% 5.1% 5.5%
7.2%
8.1%
9.7%
12.2%
14.7%
16.7%
20%+
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2020
Platinum
Vision
COLOR, ADDITIVES
AND INKS
1.1% 1.3%
3.4%
5.1%
9.6%
8.0%
8.6%
9.3%
12.1%
14.7%
20%+
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2020
Platinum
Vision
SPECIALTY
ENGINEERED MATERIALS
PolyOne Corporation Page 9
2006 2015 2020
“Where we were” “Where we are” Platinum Vision
1) Operating Income %
Specialty:
Color, Additives & Inks 1.7% 16.7% 20%+
Specialty Engineered Materials 1.1% 14.7% 20%+
Designed Structures & Solutions 1.4% (2012) 3.0% 12 – 14%
Performance Products &
Solutions 5.5% 8.3% 10 – 12%
Distribution 2.6% 6.6% 6.5 – 7.5%
2) Specialty Platform % of
Operating Income 6.0% 65% 80%+
3) ROIC* 5.0% 11.8% 15%
4) Adjusted EPS Growth N/A
25 Consecutive
Quarters of YOY
EPS Growth
Double Digit
Expansion
Proof of Performance & 2020 Goals
*ROIC is defined as TTM adjusted OI divided by the sum of average debt and equity over a 5 quarter period
PolyOne Corporation Page 10
Therma-Tech™ & Sheet
GEON™ Vinyl
Polymer Colorants Therma-Tech™
TPE’s & Film
TPE + OnForce™
Gravi-Tech™
Page 10
Film
Target End Markets… Healthcare
PolyOne Corporation Page 11
TPE + OnForce
OnForce
TPE Vibration Dampening
(SEM/GLS)
TPE & Film
(SEM + DSS)
Polymer Colorants
(CAI)
Thermatech
Thermoplastic Elastomers
TPE + OnForce
OnForce
Thermoplastic Elastomers
Polymer Colorants
(CAI)
Sheet
(DSS)
Source: Outdoor Industry Association
Target End Markets… Outdoor High Performance
PolyOne Corporation Page 12
Sound & Vibration
Management
Fuel Handling
Systems
Interior & Exterior Trim
Structural Braces
& Brackets
Interior Structural
Components
Lighting
Air management
Electronics & Cameras
Fluid Handling
Target End Markets… Automotive
Underhood
Components
Roof Systems
PolyOne Corporation Page 13
Target End Markets… Packaging
PreservaPak™
OnColor™
Smart Batch™
VersaFlex™
TPE Cap Liner
ColorMatrix™
Amosorb™
Oxygen Scavenger
ColorMatrix™
Ultimate™ UV
Light Barrier
OnCap™
Laser Marking
Additives
PolyOne Corporation Page 14
Innovation Drives Earnings Growth
*Specialty Platform revenue from products introduced in last five years
$20
$53
2006 2015
Research & Development
Spending
($ millions)
Specialty Platform
Vitality Index Progression*
14%
28%
2006 2015
Specialty Platform
Gross Margin
12%
43%
2006 2015
Target ≥ 35%
Innovation Pipeline Potential
PolyOne Corporation Page 15
2,883
2,414
2006 2015
Volume
(lbs in millions)
-16%
$103
$192
2006 2015
Commercial, R&D
and Marketing
Spending ($M)
+86%
$303
$721
2006 2015
Adjusted
Gross Margin ($M)
+138%
Investing to Drive Growth
Ours Is Not a Cost Cutting Story
PolyOne Corporation Page 16
Design and Service as a Differentiator
Right Material &
Color
Desired
Product Design
Appropriate
Manufacturing Process
Delivering Concept to
Commercialization
Connecting
the Dots with
iQ Design Labs and
InVisiO Color Design
PolyOne Corporation Page 17
Customer First Through World-Class Service
Strengthening relationships through:
Providing LSS services to small/medium sized customers
Providing training in Customer Centric Selling Skills with customers
World’s Best Business
Process Excellence
Program in 2012*
World’s Best Start-up
program for Lean Six Sigma
Deployment in 2009*
81%
93%
2006 2015
16.2%
9.7%
2006 2015
On-Time Delivery
Working Capital % of Sales
52% of associates trained in LSS
Five consecutive years – CFO Magazine Best Working
Capital Management in the chemical industry
Commitment to Operational Excellence
PolyOne Corporation Page 18
60%
97%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2008 Q4 2015
Pension Funding**
As of December 31, 2015
Debt Maturities & Pension Funding
Net Debt / Adjusted EBITDA*= 2.1x
** includes US-qualified pension plans only *TTM 12/31/2015
$550
$600
$200
$300
$400
$500
$600
$700
$800
2022 2023
Debt Maturities
As of December 31, 2015
($ millions)
Coupon Rate: 3.750% 5.250%
PolyOne Corporation Page 19
Free Cash Flow and Strong Balance Sheet
Fund Investment / Shareholder Return
Expanding our sales,
marketing, and
technical capabilities
Investing in operational
and LSS initiatives
~75% of capital
expenditures fund
growth initiatives Organic
Growth
Acquisitions
Share
Repurchases
Dividends
$0.16
$0.20
$0.32
$0.40
$0.48
$0.10
$0.20
$0.30
$0.40
$0.50
2011 2012 2013 2014 2015 2016
Annual Dividend
Targets that expand
our:
• Specialty offerings
• End market
presence
• Geographic breadth
Synergy opportunities
Adjacent material
solutions
Repurchased nearly
1.0 million shares in
Q4 2015
Repurchased 15.8
million shares since
early 2013
4.2 million shares are
available for
repurchase under the
current authorization
$0.24
PolyOne Corporation Page 20
The New PolyOne: A Specialty Growth Company
Why Invest In PolyOne?
Adjusted EPS is calculated as follows:
Adjusted EPS 2006Y* 2007Y* 2008Y* 2009Y* 2010Y 2011Y 2012Y 2013Y 2014Y 2015Y
Net income (loss) attributable to PolyOne common
shareholders $ 130.9 $ 40.9 $ (417.0) $ 106.7 $ 152.5 $ 153.4 $ 53.3 $ 94.0 $ 78.0 $ 144.6
Joint venture equity earnings, after tax (68.5) (26.1) (20.8) (19.0) (14.7) (3.7) - - - -
Special items, after tax(1) (51.2) 10.7 457.2 (75.9) (72.5) (72.8) 36.2 32.6 90.5 28.9
Adjusted net income $ 11.2 $ 25.5 $ 19.4 $ 11.8 $ 65.3 $ 76.9 $ 89.5 $ 126.6 $ 168.5 $ 173.5
Diluted shares 92.8 93.1 92.7 93.4 96.0 94.3 89.8 96.5 93.5 88.7
Adjusted EPS $ 0.12 $ 0.27 $ 0.21 $ 0.13 $ 0.68 $ 0.82 $ 1.00 $ 1.31 $ 1.80 $ 1.96
Adjusted EPS Q1 2009* Q2 2009* Q3 2009* Q4 2009* Q1 2010 Q2 2010 Q3 2010 Q4 2010
Net income attributable to PolyOne common shareholders $ 3.3 $ 1.3 $ 51.3 $ 50.8 $ 20.1 $ 44.7 $ 0.1 $ 87.6
Joint venture equity earnings, after tax (8.2) (5.8) (3.0) (2.0) (0.5) (4.5) (6.2) (3.5)
Special items, after tax(1) (10.2) 9.2 (36.9) (38.0) (3.8) (22.1) 25.4 (72.0)
Adjusted net (loss) income $ (15.1) $ 4.7 $ 11.4 $ 10.8 $ 15.8 $ 18.1 $ 19.3 $ 12.1
Diluted shares 92.2 93.5 93.9 94.4 95.3 96.3 96.3 97.4
Adjusted EPS $ (0.16) $ 0.05 $ 0.12 $ 0.11 $ 0.17 $ 0.19 $ 0.20 $ 0.12
Adjusted EPS Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012
Net income attributable to PolyOne common shareholders $ 106.0 $ 23.1 $ 16.0 $ 8.3 $ 15.3 $ 18.4 $ 19.4 $ 0.2
Joint venture equity earnings, after tax (3.7) - - - - - - -
Special items, after tax(1) (81.3) 1.3 2.8 4.4 6.2 8.9 5.4 15.7
Adjusted net income $ 21.0 $ 24.4 $ 18.8 $ 12.7 $ 21.5 $ 27.3 $ 24.8 $ 15.9
Diluted shares 96.4 95.5 94.0 91.9 90.7 90.7 90.2 90.5
Adjusted EPS $ 0.22 $ 0.26 $ 0.20 $ 0.14 $ 0.24 $ 0.30 $ 0.28 $ 0.18
2
Adjusted EPS Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014
Net income (loss) attributable to PolyOne common
shareholders $ 11.2 $ 38.6 $ 23.2 $ 21.0 $ 29.4 $ 30.9 $ 32.3 $ (14.6)
Special items, after tax(1) 17.7 (2.0) 12.3 4.6 12.5 17.4 13.1 47.5
Adjusted net income $ 28.9 $ 36.6 $ 35.5 $ 25.6 $ 41.9 $ 48.3 $ 45.4 $ 32.9
Diluted shares 92.8 99.1 98.1 97.2 95.7 94.3 93.1 91.3
Adjusted EPS $ 0.31 $ 0.37 $ 0.36 $ 0.26 $ 0.44 $ 0.51 $ 0.49 $ 0.36
Adjusted EPS Q1 2015 Q2 2015 Q3 2015 Q4 2015
Net income attributable to PolyOne common shareholders $ 30.2 $ 66.8 $ 44.5 $ 3.1
Special items, after tax(1) 11.4 (15.9) 3.0 30.4
Adjusted net income $ 41.6 $ 50.9 $ 47.5 $ 33.5
Diluted shares 90.1 89.8 88.4 86.6
Adjusted EPS $ 0.46 $ 0.57 $ 0.54 $ 0.39
Adjusted operating margin is calculated as follows:
Adjusted operating margin Q1 2009* Q2 2009* Q3 2009* Q4 2009* YTD 2009* Q1 2010 Q2 2010 Q3 2010 Q4 2010 YTD 2010
Operating Income $ 9.9 $ 17.1 $ 57.9 $ 52.2 $ 137.1 $ 32.3 $ 58.6 $ 42.0 $ 26.3 $ 159.2
Special items (1) (1.3) 4.6 (27.5) (24.5) (48.7) - (14.5) 5.5 4.2 (4.8)
Joint venture equity earnings (12.8) (9.0) (4.8) (3.1) (29.7) (0.8) (7.1) (9.7) (5.5) (23.1)
Adjusted operating (loss) income $ (4.2) $ 12.7 $ 25.6 $ 24.6 $ 58.7 $ 31.5 $ 37.0 $ 37.8 $ 25.0 $ 131.3
Sales $ 463.4 $ 496.5 $ 548.3 $ 552.5 $ 2,060.7 $ 604.0 $ 666.2 $ 650.7 $ 585.3 $ 2,506.2
Operating Margin (0.9)% 2.6% 4.7% 4.5% 2.8% 5.2% 5.6% 5.8% 4.3% 5.2%
Adjusted operating margin Q1 2011 Q2 2011 Q3 2011 Q4 2011 YTD 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012 YTD 2012
Operating income (loss) $ 173.4 $ 42.4 $ 33.4 $ (46.2) $ 203.0 $ 37.4 $ 43.3 $ 43.5 $ 13.3 $ 137.5
Special items (1) (127.2) 2.7 4.9 72.9 (46.7) 8.5 11.8 8.3 25.3 53.9
Joint venture equity earnings (5.7) - - - (5.7) - - - - -
Adjusted operating income $ 40.5 $ 45.1 $ 38.3 $ 26.7 $ 150.6 $ 45.9 $ 55.1 $ 51.8 $ 38.6 $ 191.4
Sales $ 682.8 $ 723.4 $ 694.0 $ 609.2 $ 2,709.4 $ 745.5 $ 756.6 $ 707.7 $ 651.0 $ 2,860.8
Operating Margin 5.9% 6.2% 5.5% 4.4% 5.6% 6.2% 7.3% 7.3% 5.9% 6.7%
3
Adjusted operating margin Q1 2013 Q2 2013 Q3 2013 Q4 2013 YTD 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 YTD 2014
Operating income (loss) $ 40.5 $ 80.7 $ 61.6 $ 48.7 $ 231.5 $ 56.4 $ 49.4 $ 63.6 $ (14.3) $ 155.1
Special items (1) 16.6 (5.2) 10.8 7.8 30.0 22.9 39.8 22.0 80.2 164.9
Adjusted operating income $ 57.1 $ 75.5 $ 72.4 $ 56.5 $ 261.5 $ 79.3 $ 89.2 $ 85.6 $ 65.9 $ 320.0
Sales $ 801.1 $ 1,037.6 $ 1,008.9 $ 923.6 $ 3,771.2 $ 1,002.3 $ 1,005.5 $ 958.4 $ 869.3 $ 3,835.5
Operating Margin 7.1% 7.3% 7.2% 6.1% 6.9% 7.9% 8.9% 8.9% 7.6% 8.3%
Adjusted operating margin Q1 2015 Q2 2015 Q3 2015 Q4 2015 YTD 2015
Operating income $ 70.1 $ 80.3 $ 69.2 $ 31.3 $ 250.9
Special items (1) 9.3 11.9 18.7 31.4 71.3
Adjusted operating income $ 79.4 $ 92.2 $ 87.9 $ 62.7 $ 322.2
Sales $ 873.1 $ 887.1 $ 841.6 $ 775.8 $ 3,377.6
Operating Margin 9.1% 10.4% 10.4% 8.1% 9.5%
Adjusted gross margin is calculated as follows:
(In millions) Twelve Months Ended December 31, 2015
Gross margin - GAAP $ 681.5
Special items in gross margin(1) 39.7
Gross margin before special items $ 721.2
Specialty operating income mix percentage is calculated as follows:
Platform operating income mix percentage 2005* 2010* 2015
Color, Additives and Inks $ 4.3 $ 37.7 $ 135.4
Specialty Engineered Materials 0.4 49.7 79.6
Designed Structures and Solutions - - 13.8
Specialty Platform $ 4.7 $ 87.4 $ 228.8
Performance Products and Solutions 75.7 54.0 57.4
Distribution 19.5 42.0 68.0
Joint ventures 91.9 18.9 —
Corporate and eliminations (51.5) (27.7) (103.3)
Operating income GAAP $ 140.3 $ 174.6 $ 250.9
Less: Corporate operating expense 51.5 27.7 103.3
Operating income excluding Corporate $ 191.8 $ 202.3 $ 354.2
Specialty platform operating mix percentage 2% 43% 65%
4
Adjusted EBITDA and net debt to adjusted EBITDA is calculated as follows:
(In millions) Twelve Months Ended December 31, 2015
Income from continuing operations, before income taxes $ 167.7
Interest expense, net 64.1
Depreciation and amortization 104.3
Special items, impact on income from continuing operations before income taxes(1) 87.6
Accelerated depreciation included in special items (6.2)
Adjusted EBITDA $ 417.5
Short-term and current portion of long-term debt $ 18.6
Long-term debt 1,128.0
Less: Cash and cash equivalents (279.8)
Net Debt 866.8
Net Debt/TTM Adjusted EBITDA 2.1
* Historical results are shown as presented in prior filings and have not been updated to reflect subsequent changes in accounting principal, discontinued operations or the related resegmentation
https://www.avient.com/sites/default/files/2020-10/demystifing-cmf-brochure.pdf
COLOR, MATERIAL & FINISH DESIGN SERVICE
FIVE WAYS TO BRING CLARITY TO COLOR, MATERIAL
& FINISH SELECTION
D E M Y S T I F Y I N G C M F
FINDING THE RIGHT BALANCE BETWEEN LOOK,
FEEL AND FUNCTION IS IMPORTANT
BUT CHALLENGING
NEARLY 90% OF ALL PURCHASE DECISIONS ARE MADE SUBCONSCIOUSLY.
https://www.avient.com/sites/default/files/2022-03/Avient 2022 Proxy Statement.pdf
Estimated Future Payouts Under Equity Incentive Plan Awards (columns (f) and (g))
(3) Stock Appreciation Rights.
Garratt
2/11/2019 — — — — 6,227 348,401 — —
2/10/2020 — — — — 6,596 369,046 — —
2/08/2021 — — — — 5,142 287,695 — —
2/04/2015 9,200 — 38.27 2/4/2025 — — — —
2/15/2017 13,250 — 34.10 2/15/2027 — — — —
2/14/2018 11,050 — 41.89 2/14/2028 — — — —
2/11/2019 12,133 6,067 31.54 2/11/2029 — — — —
2/10/2020 6,550 13,100 31.48 2/10/2030 — — — —
2/08/2021 — 20,150 42.27 2/8/2031 — — — —
L.K.
Kunkle
2/11/2019 — — — — 6,603 369,438 — —
2/20/2020 — — — — 7,121 398,420 — —
2/08/2021 — — — — 5,498 307,613 — —
2/15/2017 12,100 — 34.10 2/15/2027 — — — —
2/14/2018 11,500 — 41.89 2/14/2028 — — — —
2/11/2019 12,833 6,417 31.54 2/11/2029 — — — —
2/10/2020 7,067 14,133 31.48 2/10/2030 — — — —
2/08/2021 — 21,650 42.27 2/8/2031 — — — —
J.R.