https://www.avient.com/knowledge-base/article/material-solutions-expanding-ev-charging-infrastructure?sust[]=1135
Government funding and support through various laws, tax credits, and development grants indicates that public EV charging equipment production will likely continue on a high growth trajectory.
https://www.avient.com/knowledge-base/article/material-solutions-expanding-ev-charging-infrastructure?sust[]=1136
Government funding and support through various laws, tax credits, and development grants indicates that public EV charging equipment production will likely continue on a high growth trajectory.
https://www.avient.com/company/sustainability/planet/environmental-stewardship/agency-support
Drug Master Files
In support of our customer’s Device Master File submission for healthcare materials, Avient develops and maintains U.S.
FDA Drug Master Files and Medical Application Files.
https://www.avient.com/sites/default/files/resources/PolyOne%2520Investor%2520Presentation%2520Jefferies%25202013%2520Global%2520Industrial%2520Conference_Posting.pdf
The non-GAAP financial measures
include: adjusted EPS, earnings before interest, tax, depreciation and
amortization (EBITDA), adjusted EBITDA, net debt, Specialty platform operating
income, Specialty platform gross margin percentage, adjusted operating income,
return on invested capital, net debt/ EBITDA, and the exclusion of corporate
charges in certain calculations.
Adjusted EPS 2006Y* 2007Y* 2008Y* 2009Y 2010Y*** 2011Y*** 2012Y***
*Net Income attributable to PolyOne common
shareholders $ 130.9 $ 40.9 $ (417.0) $ 106.7 $ 152.5 $ 153.4 $ 53.3
SunBelt equity earnings, after tax (68.5) (26.1) (20.8) (19.0) (14.7) (3.7) -
Special items, after tax (21.2) 41.4 310.0 (31.0) 15.8 (30.5) 35.7
Tax adjustments (30.0) (30.7) 147.2 (44.9) (88.3) (42.3) 0.5
Adjusted net income $ 11.2 $ 25.5 $ 19.4 $ 11.8 $ 65.3 $ 76.9 $ 89.5
Diluted shares 92.8 93.1 92.7 93.4 96.0 94.3 89.8
Adjusted EPS $ 0.12 $ 0.27 $ 0.21 $ 0.13 $ 0.68 $ 0.82 $ 1.00
Adjusted EPS H1 2012*** H1 2013***
*Net Income attributable to PolyOne common
shareholders $ 33.7 $ 49.8
Special items, after tax 14.1 15.0
Tax adjustments 1.0 0.7
Adjusted net income $ 48.8 $ 65.5
Diluted shares 90.7 95.8
Adjusted EPS $ 0.54 $ 0.68
*** Restated results to exclude the Resin business and to remove Specialty Coatings from the Performance Products and Solutions segment into
Global Color, Additives and Inks segment.
Net debt $ 638.8
Adjusted EBITDA Q3 2012 Q4 2012 Q1 2013 Q2 2013 Total
PolyOne Income before income taxes $ 30.6 $ (1.1) $ 15.7 $ 62.9 $ 108.1
PolyOne Interest expense, net 12.4 13.7 15.6 16.6 58.3
PolyOne Depreciation and amortization 17.0 15.5 19.0 25.8 77.3
PolyOne Special items in EBITDA 8.3 26.5 27.7 (5.2) 57.3
PolyOne Adjusted EBITDA 68.3 54.6 78.0 100.1 301.0
Pro forma Spartech EBITDA 16.8 14.7 11.2 - 42.7
Pro forma EBITDA $ 85.1 $ 69.3 $ 89.2 $ 100.1 $ 343.7
PolyOne Investor Presentation�Jefferies 2013 Global Industrials Conference��August 13, 2013�
Forward – Looking Statements
Use of Non GAAP Measures
Strategy and Execution Drive Results
Four Pillar Strategy
PolyOne�At A Glance
Mix Shift Highlights Specialty Transformation
Proof of Performance & 2015 Goals
Innovation Drives Earnings Growth
We are Experts in Polymer Science and Formulation
Positioned for Strong Growth
First Half 2013 Financial Highlights
Debt Maturities & Liquidity Summary – 6/30/13
Use of Cash
Why Invest In PolyOne?
https://www.avient.com/sites/default/files/2021-09/avient2020sustainabilityreport-9-2-21.pdf
La Porte, Texas 7.
Special “life skills” training
sessions help HYPE participants in areas such as benefits enrollment and filing a
personal tax return.
Those who file reports can remain anonymous.
https://www.avient.com/global-terms-and-conditions-purchase
File
https://www.avient.com/cookie-policy
To make this site work properly, we sometimes place small data files called cookies on your device.
A cookie is a small text file that a website saves on your computer or mobile device when you visit the site.
https://www.avient.com/sites/default/files/resources/Forward%2520Looking%2520Statements%2520and%2520Non%2520GAAP%2520Measures.pdf
Factors that could cause actual results to differ materially from those implied by these forward-looking statements include, but are not limited to:
� Disruptions, uncertainty or volatility in the credit markets that could adversely impact the availability of credit already arranged and the availability
and cost of credit in the future;
� The financial condition of our customers, including the ability of customers (especially those that may be highly leveraged and those with inadequate
liquidity) to maintain their credit availability;
� The speed and extent of an economic recovery, including the recovery of the housing market;
� The amount and timing of repurchases, if any, of PolyOne common shares and our ability to pay regular quarterly cash dividends and the amounts and
timing of any future dividends;
� The effect on foreign operations of currency fluctuations, tariffs, and other political, economic and regulatory risks;
Changes in polymer consumption growth rates in the markets where we conduct business;
Forward Looking Statements
� Changes in polymer consumption growth rates in the markets where we conduct business;
� Changes in global industry capacity or in the rate at which anticipated changes in industry capacity come online;
� Fluctuations in raw material prices, quality and supply and in energy prices and supply;
� Production outages or material costs associated with scheduled or unscheduled maintenance programs;
� Unanticipated developments that could occur with respect to contingencies such as litigation and environmental matters;
� An inability to achieve or delays in achieving or achievement of less than the anticipated financial benefit from initiatives related to working capital
reductions, cost reductions, employee productivity goals, and an inability to raise or sustain prices for products or services;
� The ability to successfully integrate acquired companies into our operations, retain the management teams of acquired companies, and retain
relationships with customers of acquired companies, including without limitation, Color Matrix Group, Inc.
The non-GAAP financial measures
include: adjusted EPS, earnings before interest, tax, depreciation and
amortization (EBITDA), adjusted EBITDA, net debt, Specialty platform operating
income and gross margin, adjusted operating income, free cash flow, return on
invested capital, GLS operating income, net debt/ EBITDA, and the exclusion of
corporate charges in certain calculations.
https://www.avient.com/sites/default/files/2021-04/avnt-fourth-quarter-2020-news-release.pdf
The company noted that GAAP EPS includes special items of
$0.29 (Attachment 3) primarily associated with one-time tax benefits of $0.35, which was
partially offset by acquisition-related and restructuring costs.
Three Months Ended
Year Ended
Reconciliation to Consolidated Statements of Income 2020 2019 2020 2019
Sales $ 997.0 $ 658.6 $ 3,242.1 $ 2,862.7
Gross margin - GAAP 252.9 153.3 784.3 657.2
Special items in gross margin (Attachment 3) 1.7 (0.8) 25.3 7.3
Adjusted Gross margin $ 254.6 $ 152.5 $ 809.6 $ 664.5
Adjusted Gross margin as a percent of sales 25.5 % 23.2 % 25.0 % 23.2 %
Operating income - GAAP 65.0 20.5 189.3 156.8
Special items in operating income (Attachment 3) 14.6 24.6 73.7 71.7
Adjusted Operating income $ 79.6 $ 45.1 $ 263.0 $ 228.5
Adjusted Operating income as a percent of sales 8.0 % 6.8 % 8.1 % 8.0 %
The table below reconciles pre-special income tax expense and the pre-special effective tax rate to their most comparable US
GAAP figures.
December 31,
GAAP
Special
Adjusted
GAAP
Special
Adjusted
Income from continuing operations before income taxes $ 57.4 $ 4.2 $ 61.6 $ 19.3 $ 15.0 $ 34.3
Income tax (expense) benefit - GAAP 17.3 — 17.3 (12.9) — (12.9)
Income tax impact of special items (Attachment 3) — 1.3 1.3 — 0.4 0.4
Tax adjustments (Attachment 3) — (32.2) (32.2) — 4.5 4.5
Income tax (expense) benefit $ 17.3 $ (30.9) $ (13.6) $ (12.9) $ 4.9 $ (8.0)
Effective Tax Rate(1) (30.1) % 22.1 % 66.8 % 23.3 %
(1) Rates may not recalculate from figures presented herein due to rounding
12
Year Ended
GAAP
Special
Adjusted
GAAP
Special
Adjusted
Income from continuing operations before income taxes $ 139.0 $ 66.2 $ 205.2 $ 109.4 $ 61.7 $ 171.1
Income tax expense - GAAP (5.2) — (5.2) (33.7) — (33.7)
Income tax impact of special items (Attachment 3) — (14.1) (14.1) — (11.1) (11.1)
Tax adjustments (Attachment 3) — (27.3) (27.3) — 5.2 5.2
Income tax expense $ (5.2) $ (41.4) $ (46.6) $ (33.7) $ (5.9) $ (39.6)
Effective Tax Rate(1) 3.7 % 22.7 % 30.8 % 23.1 %
(1) Rates may not recalculate from figures presented herein due to rounding
The following pro forma adjustments are referenced by management to provide comparable business performance by
incorporating the Clariant Masterbatch business in periods prior to the acquisition date (July 1, 2020).
https://www.avient.com/sites/default/files/2021-04/gravi-tech-pipe-system-valve-case-study.pdf
(API) of Gainesville, Texas, a
manufacturer of plastic pipe components, saw an opportunity
to design a flapper valve that could improve upon traditional
brass valves and enable non-corrosive, all-plastic piping
systems.