https://www.avient.com/sites/default/files/2022-04/Avient Q1 2022 Earnings Release.pdf
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
https://www.avient.com/sites/default/files/resources/Terms_and_Conditions_for_Canada_%2528French_Language%2529.pdf
Sauf stipulation contraire dans un contrat cadre préexistant alors en vigueur
entre l’acheteur et le vendeur, pendant les périodes où la demande de produit excède les stocks
disponibles, pour cause de force majeure ou autrement, le vendeur peut répartir le produit entre ses
propres besoins de fabrication, ses clients et l’acheteur, comme il le juge équitable et juste.
https://www.avient.com/sites/default/files/2023-07/Terms and Conditions of Sale for China - August 2023.pdf
In the event of Buyer’s breach or failure to
perform, Seller shall be entitled to (but is not required
to) recover from Buyer, in addition to any other
damages caused by such action: (i) in the case of
Products produced specifically for Buyer or which
reasonably cannot be resold by Seller to a third party,
the price of such Products as quoted in Seller’s order
confirmation; or (ii) in the case of Products which can
be resold by Seller, damages equal to fifty percent
(50%) of the price for the Products as quoted in Seller’s
order confirmation, as liquidated damages.
9.
Except in the case of a force majeure, if not
satisfied with Seller’s determination, Buyer as its sole
remedy shall have a right to terminate this contract
without further obligation upon: (i) 10 calendar days’
written notice; and (ii) payment for all Product
received to date.
14.
In case Buyer is required to disclose the
information by virtue of a court order or statutory duty,
Buyer shall immediately inform Seller and reasonably
cooperate with Seller should it seek to obtain a
protective order.
https://www.avient.com/investor-center/news/polyone-announces-record-fourth-quarter-and-full-year-2015-results
Cash dividends declared per share of common stock
Exercise of stock awards
https://www.avient.com/investor-center/news/polyone-announces-full-year-and-fourth-quarter-2018-results
stock
Cash dividends declared per share of common stock
https://www.avient.com/investor-center/news/avient-announces-third-quarter-2024-results
New York Stock Exchange
Cash dividends declared per share of common stock
https://www.avient.com/investor-center/news/polyone-announces-third-quarter-2016-results
During the quarter we repurchased 318,000 shares of common stock and increased our Term Loan B by
Cash dividends declared per share of common stock
https://www.avient.com/sites/default/files/2023-10/2023 Hammerhead Application _ Install Guide.pdf
SUPPORT SPAN DEFLECTION
Meets performance required for marine applications
Predictive deflection in various load cases.
https://www.avient.com/sites/default/files/resources/PolyOne%2520India%2520Terms%2520and%2520Conditions%2520of%2520Sale%2520of%2520Products.May%25202016.pdf
Except in the case
of a force majeure, if not satisfied with Seller’s determination, Buyer as its
sole remedy shall have a right to terminate this contract without further
obligation upon: (i) 10 days written notice; and (ii) payment for all Product
received to date.
12.
https://www.avient.com/sites/default/files/2022-05/DOC 1879.pdf
Representing over 25 major suppliers, Avient
Distribution offers a broad product portfolio, just-in-time
delivery from multiple stocking locations and local technical
support.