https://www.avient.com/sites/default/files/2021-01/amendment-to-articles-commercial-registration-avient-corporation.pdf
The resolution was adopted pursuant to Ohio Revised Code section 1701.70(B)
(In this space insert the number 1 through 10 to provide basis for adoption.)
https://www.avient.com/sites/default/files/2023-06/AVIENT_TPEs and LSR eBook.pdf
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https://www.avient.com/sites/default/files/2022-11/Avient Announces Third Quarter 2022 Results.pdf
You are advised to consult any further disclosures
we make on related subjects in our reports on Form 10-Q, 8-K and 10-K that we provide to the
Securities and Exchange Commission.
6
Non-GAAP Financial Measures
The Company uses both GAAP (generally accepted accounting principles) and non-GAAP
financial measures.
2) Tax adjustments include the net tax benefit/ (expense) from one-time income tax items, the set-up or reversal of uncertain tax position reserves
and deferred income tax valuation allowance adjustments.
10
Attachment 4
Avient Corporation
Condensed Consolidated Balance Sheets
(In millions)
(Unaudited)
September 30, 2022
December 31,
2021
ASSETS
Current assets:
Cash and cash equivalents $ 544.4 $ 601.2
Accounts receivable, net 504.6 439.9
Inventories, net 441.5 305.8
Current assets held for sale 367.8 360.2
Other current assets 130.0 119.9
Total current assets 1,988.3 1,827.0
Property, net 965.4 672.3
Goodwill 1,491.0 1,284.8
Intangible assets, net 1,525.7 925.2
Operating lease assets, net 56.0 58.2
Non-current assets held for sale — 22.0
Other non-current assets 280.7 207.7
Total assets $ 6,307.1 $ 4,997.2
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Short-term and current portion of long-term debt $ 613.9 $ 8.6
Accounts payable 448.7 429.5
Current operating lease obligations 18.1 21.1
Current liabilities held for sale 170.3 141.3
Accrued expenses and other current liabilities 304.6 340.2
Total current liabilities 1,555.6 940.7
Non-current liabilities:
Long-term debt 2,502.9 1,850.3
Pension and other post-retirement benefits 91.6 99.9
Deferred income taxes 210.4 100.6
Non-current operating lease obligations 35.7 37.3
Non-current liabilities held for sale — 13.1
Other non-current liabilities 174.8 164.8
Total non-current liabilities 3,015.4 2,266.0
SHAREHOLDERS' EQUITY
Avient shareholders’ equity 1,720.4 1,774.7
Noncontrolling interest 15.7 15.8
Total equity 1,736.1 1,790.5
Total liabilities and equity $ 6,307.1 $ 4,997.2
11
Attachment 5
Avient Corporation
Condensed Consolidated Statements of Cash Flows (Unaudited)
(In millions)
Nine Months Ended
September 30,
2022 2021
Operating Activities
Net income $ 158.5 $ 201.7
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization 110.3 105.8
Accelerated depreciation 4.0 1.9
Share-based compensation expense 9.5 8.4
Changes in assets and liabilities, net of the effect of acquisitions:
Increase in accounts receivable (66.5) (199.7)
Increase in inventories (12.5) (156.2)
Increase in accounts payable 43.5 95.3
Decrease in pension and other post-retirement benefits (15.8) (14.2)
(Decrease) increase in accrued expenses and other assets and liabilities, net (7.1) 67.0
Net cash provided by operating activities 223.9 110.0
Investing activities
Capital expenditures (55.1) (62.7)
Business acquisitions, net of cash acquired (1,426.1) (47.6)
Settlement of foreign exchange derivatives 93.3 —
Net cash proceeds used by other assets — (2.0)
Net cash used by investing activities (1,387.9) (112.3)
Financing activities
Debt proceeds 1,300.0 —
Purchase of common shares for treasury (36.4) (4.2)
Cash dividends paid (65.2) (58.2)
Repayment of long-term debt (6.8) (16.5)
Payments of withholding tax on share awards (4.2) (9.1)
Debt financing costs (49.3) —
Other financing activities — (3.5)
Net cash provided (used) by financing activities 1,138.1 (91.5)
Effect of exchange rate changes on cash (30.9) (10.5)
Decrease in cash and cash equivalents (56.8) (104.3)
Cash and cash equivalents at beginning of year 601.2 649.5
Cash and cash equivalents at end of period $ 544.4 $ 545.2
12
Attachment 6
Avient Corporation
Business Segment Operations (Unaudited)
(In millions)
Operating income and earnings before interest, taxes, depreciation and amortization (EBITDA) at the segment level does not
include: special items as defined in Attachment 3; corporate general and administration costs that are not allocated to segments;
intersegment sales and profit eliminations; share-based compensation costs; and certain other items that are not included in the
measure of segment profit and loss that is reported to and reviewed by the chief operating decision maker.
https://www.avient.com/sites/default/files/2023-02/AVNT Q4 2022 Earnings Press Release-1.pdf
You are advised to consult any further disclosures we make
on related subjects in our reports on Form 10-Q, 8-K and 10-K that we provide to the Securities and
Exchange Commission
Three Months Ended
December 31,
2022 2021
Reconciliation to Condensed Consolidated Statements of Income $ EPS(1) $ EPS(1)
Net (loss) income from continuing operations attributable to Avient
shareholders $ (17.0) $ (0.19) $ 11.2 $ 0.12
Special items, after tax (Attachment 3) 38.3 0.42 23.9 0.26
Amortization expense, after-tax 14.6 0.16 11.3 0.12
Adjusted net income / EPS $ 35.9 $ 0.39 $ 46.4 $ 0.50
(1) Per share amounts may not recalculate from figures presented herein due to rounding
Year Ended
December 31,
2022 2021
Reconciliation to Condensed Consolidated Statements of Income $ EPS(1) $ EPS(1)
Net income from continuing operations attributable to Avient shareholders $ 82.8 $ 0.90 $ 151.8 $ 1.65
Special items, after tax (Attachment 3) 116.2 1.26 50.0 0.54
Amortization expense, after-tax 49.0 0.53 44.9 0.49
Adjusted net income / EPS $ 248.0 $ 2.69 $ 246.7 $ 2.68
(1) Per share amounts may not recalculate from figures presented herein due to rounding
9
Attachment 2
Avient Corporation
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
Cost of sales 618.4 590.5 2,514.2 2,371.7
Gross margin 172.0 216.6 882.7 943.8
Selling and administrative expense 171.6 166.4 639.4 664.1
Operating income 0.4 50.2 243.3 279.7
Interest expense, net (49.4) (17.5) (119.8) (75.2)
Other expense, net (28.4) (5.3) (59.7) (1.0)
(Loss) income from continuing operations before income taxes (77.4) 27.4 63.8 203.5
Income tax benefit (expense) 60.8 (17.1) 19.3 (51.9)
Net (loss) income from continuing operations (16.6) 10.3 83.1 151.6
Income from discontinued operations, net of income taxes 561.5 18.7 620.3 79.0
Net income 544.9 29.0 703.4 230.6
Net (income) loss attributable to noncontrolling interests (0.4) 0.9 (0.3) 0.2
Net income attributable to Avient common shareholders $ 544.5 $ 29.9 $ 703.1 $ 230.8
Earnings per share attributable to Avient common shareholders - Basic:
Continuing operations $ (0.19) $ 0.12 $ 0.91 $ 1.66
Discontinued operations 6.17 0.21 6.80 0.87
Total $ 5.98 $ 0.33 $ 7.71 $ 2.53
Earnings per share attributable to Avient common shareholders - Diluted:
Continuing operations $ (0.19) $ 0.12 $ 0.90 $ 1.65
Discontinued operations 6.17 0.20 6.73 0.86
Total $ 5.98 $ 0.32 $ 7.63 $ 2.51
Cash dividends declared per share of common stock $ 0.2475 $ 0.2375 $ 0.9600 $ 0.8750
Weighted-average shares used to compute earnings per common share:
Basic 91.0 91.5 91.2 91.4
Diluted 91.0 92.4 92.2 92.1
10
Attachment 3
Avient Corporation
Summary of Special Items (Unaudited)
(In millions, except per share data)
Special items (1)
Three Months Ended
December 31,
Year Ended
December 31,
2022 2021 2022 2021
Cost of sales:
Restructuring costs, including accelerated depreciation $ (21.3) $ (6.0) $ (31.1) $ (14.6)
Environmental remediation costs (0.4) (0.5) (24.2) (22.9)
Reimbursement of previously incurred environmental costs — — 8.3 4.5
Acquisition related costs (23.8) 0.6 (34.1) (0.6)
Impact on cost of sales (45.5) (5.9) (81.1) (33.6)
Selling and administrative expense:
Restructuring, legal and other (8.3) (4.2) (8.3) (5.9)
Acquisition related costs (6.1) (1.1) (19.3) (8.3)
Impact on selling and administrative expense (14.4) (5.3) (27.6) (14.2)
Impact on operating income (59.9) (11.2) (108.7) (47.8)
Interest expense, net - committed financing and debt extinguishment (16.0) — (26.0) —
Mark-to-market on derivatives — — (30.9) —
Pension and post retirement mark-to-market adjustment and other (28.4) (9.3) (28.4) (9.3)
Impact on Other expense, net (28.4) (9.3) (59.3) (9.3)
Impact on income from continuing operations before income taxes (104.3) (20.5) (194.0) (57.1)
Income tax benefit benefit/(expense) on above special items 26.8 4.1 49.4 13.0
Tax adjustments(2) 39.2 (7.5) 28.4 (5.9)
Impact of special items on net income from continuing operations $ (38.3) $ (23.9) $ (116.2) $ (50.0)
Diluted earnings per common share impact $ (0.42) $ (0.26) $ (1.26) $ (0.54)
Weighted average shares used to compute adjusted earnings per share:
Diluted 91.7 92.4 92.2 92.1
(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/2022-07/Avient Announces Second Quarter 2022 Results_1.pdf
You are advised to consult any further disclosures
we make on related subjects in our reports on Form 10-Q, 8-K and 10-K that we provide to the
Securities and Exchange Commission.
5
Non-GAAP Financial Measures
The Company uses both GAAP (generally accepted accounting principles) and non-GAAP
financial measures.
2) Tax adjustments include the net tax benefit/(expense) from one-time income tax items, the set-up or reversal of uncertain tax position reserves
and deferred income tax valuation allowance adjustments.
9
Attachment 4
Avient Corporation
Condensed Consolidated Balance Sheets
(In millions)
(Unaudited)
June 30, 2022
December 31,
2021
ASSETS
Current assets:
Cash and cash equivalents $ 645.1 $ 601.2
Accounts receivable, net 752.6 642.3
Inventories, net 494.0 461.1
Other current assets 128.4 122.4
Total current assets 2,020.1 1,827.0
Property, net 638.9 676.1
Goodwill 1,256.8 1,286.4
Intangible assets, net 867.2 925.2
Operating lease assets, net 62.7 74.1
Other non-current assets 197.9 208.4
Total assets $ 5,043.6 $ 4,997.2
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Short-term and current portion of long-term debt $ 607.7 $ 8.6
Accounts payable 634.0 553.9
Current operating lease obligations 21.4 24.2
Accrued expenses and other current liabilities 307.5 353.9
Total current liabilities 1,570.6 940.6
Non-current liabilities:
Long-term debt 1,249.1 1,850.3
Pension and other post-retirement benefits 95.0 100.0
Deferred income taxes 106.6 100.6
Non-current operating lease obligations 41.8 50.1
Other non-current liabilities 154.7 165.1
Total non-current liabilities 1,647.2 2,266.1
SHAREHOLDERS' EQUITY
Avient shareholders’ equity 1,809.7 1,774.7
Noncontrolling interest 16.1 15.8
Total equity 1,825.8 1,790.5
Total liabilities and equity $ 5,043.6 $ 4,997.2
10
Attachment 5
Avient Corporation
Condensed Consolidated Statements of Cash Flows (Unaudited)
(In millions)
Six Months Ended
June 30,
2022 2021
Operating Activities
Net income $ 169.2 $ 149.1
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization 71.1 69.5
Accelerated depreciation and amortization 3.2 1.4
Share-based compensation expense 6.3 5.6
Changes in assets and liabilities, net of the effect of acquisitions:
Increase in accounts receivable (133.2) (196.1)
Increase in inventories (45.9) (88.1)
Increase in accounts payable 98.5 108.4
Decrease in pension and other post-retirement benefits (9.9) (9.2)
(Decrease) increase in accrued expenses and other assets and liabilities, net (52.6) 27.5
Net cash provided by operating activities 106.7 68.1
Investing activities
Capital expenditures (34.0) (42.1)
Settlement of cross-currency swaps 75.1 —
Net cash proceeds used by other assets — (2.0)
Net cash provided (used) by investing activities 41.1 (44.1)
Financing activities
Purchase of common shares for treasury (36.4) (4.2)
Cash dividends paid (43.5) (38.8)
Repayment of long-term debt (4.4) (4.4)
Payments of withholding tax on share awards (4.1) (4.2)
Net cash used by financing activities (88.4) (51.6)
Effect of exchange rate changes on cash (15.5) (5.7)
Increase (decrease) in cash and cash equivalents 43.9 (33.3)
Cash and cash equivalents at beginning of year 601.2 649.5
Cash and cash equivalents at end of period $ 645.1 $ 616.2
11
Attachment 6
Avient Corporation
Business Segment Operations (Unaudited)
(In millions)
Operating income and earnings before interest, taxes, depreciation and amortization (EBITDA) at the segment level does not
include: special items as defined in Attachment 3; corporate general and administration costs that are not allocated to segments;
intersegment sales and profit eliminations; share-based compensation costs; and certain other items that are not included in the
measure of segment profit and loss that is reported to and reviewed by the chief operating decision maker.
https://www.avient.com/sites/default/files/2021-04/avnt-first-quarter-2021-news-release.pdf
You are advised to consult any further disclosures
we make on related subjects in our reports on Form 10-Q, 8-K and 10-K that we provide to the
Securities and Exchange Commission.
2) Tax adjustments include the net tax benefit/(expense) from one-time income tax items, the set-up or reversal of uncertain tax position
reserves and deferred income tax valuation allowance adjustments.
9
Attachment 4
Avient Corporation
Condensed Consolidated Balance Sheets
(In millions)
(Unaudited)
March 31, 2021
December 31,
2020
ASSETS
Current assets:
Cash and cash equivalents $ 594.5 $ 649.5
Accounts receivable, net 642.2 516.6
Inventories, net 357.0 327.5
Other current assets 122.7 108.5
Total current assets 1,716.4 1,602.1
Property, net 675.5 694.9
Goodwill 1,281.9 1,308.1
Intangible assets, net 973.3 1,008.5
Operating lease assets, net 80.9 80.9
Other non-current assets 181.4 176.0
Total assets $ 4,909.4 $ 4,870.5
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Short-term and current portion of long-term debt $ 18.8 $ 18.6
Accounts payable 529.6 471.7
Current operating lease obligations 24.3 25.1
Accrued expenses and other current liabilities 290.9 285.6
Total current liabilities 863.6 801.0
Non-current liabilities:
Long-term debt 1,852.7 1,854.0
Pension and other post-retirement benefits 111.3 115.0
Non-current operating lease obligations 56.8 56.0
Other non-current liabilities 303.0 332.8
Total non-current liabilities 2,323.8 2,357.8
SHAREHOLDERS' EQUITY
Avient shareholders’ equity 1,707.0 1,697.1
Noncontrolling interest 15.0 14.6
Total equity 1,722.0 1,711.7
Total liabilities and equity $ 4,909.4 $ 4,870.5
10
Attachment 5
Avient Corporation
Condensed Consolidated Statements of Cash Flows (Unaudited)
(In millions)
Three Months Ended
March 31,
2021 2020
Operating Activities
Net income $ 79.7 $ 32.8
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization 36.6 19.9
Accelerated depreciation and amortization 0.5 —
Share-based compensation expense 2.7 2.1
Changes in assets and liabilities, net of the effect of acquisitions:
Increase in accounts receivable (137.6) (56.9)
Increase in inventories (35.1) (13.0)
Increase in accounts payable 67.3 44.6
Decrease in pension and other post-retirement benefits (7.1) (3.2)
Increase in post-acquisition earnout liabilities — 1.0
Decrease in accrued expenses and other assets and liabilities, net (3.4) (19.1)
Payment of post-acquisition date earnout liability — (21.0)
Net cash provided (used) by operating activities 3.6 (12.8)
Investing activities
Capital expenditures (16.5) (11.1)
Net proceeds from divestiture — 7.1
Net proceeds (used) provided by other assets (2.0) 5.2
Net cash (used) provided by investing activities (18.5) 1.2
Financing activities
Purchase of common shares for treasury (4.2) (13.6)
Cash dividends paid (19.5) (15.6)
Repayment of long-term debt (2.3) (2.0)
Payments of withholding tax on share awards (3.1) (1.3)
Equity offering proceeds, net of underwriting discount and issuance costs — 496.3
Payment of acquisition date earnout liability — (32.9)
Net cash (used) provided by financing activities (29.1) 430.9
Effect of exchange rate changes on cash (11.0) (3.8)
(Decrease) increase in cash and cash equivalents (55.0) 415.5
Cash and cash equivalents at beginning of year 649.5 864.7
Cash and cash equivalents at end of period $ 594.5 $ 1,280.2
11
Attachment 6
Avient Corporation
Business Segment Operations (Unaudited)
(In millions)
Operating income and earnings before interest, taxes, depreciation and amortization (EBITDA) at the segment level does not
include: special items as defined in Attachment 3; corporate general and administration costs that are not allocated to
segments; intersegment sales and profit eliminations; share-based compensation costs; and certain other items that are not
included in the measure of segment profit and loss that is reported to and reviewed by the chief operating decision maker.
https://www.avient.com/sites/default/files/2024-02/AVNT Q4 2023 Earnings Press Release.pdf
You are advised to consult any further
disclosures we make on related subjects in our reports on Form 10-Q, 8-K and 10-K that we
provide to the Securities and Exchange Commission.
5
Investor Relations Contact:
Giuseppe (Joe) Di Salvo
Vice President, Treasurer and Investor Relations
Avient Corporation
+1 440-930-1921
giuseppe.disalvo@avient.com
Media Contact:
Kyle G.
2) Tax adjustments include the net tax impact from non-recurring income tax items, adjustments to uncertain tax position reserves and the
establishment, reversal or changes to valuation allowances.
10
Attachment 4
Avient Corporation
Condensed Consolidated Balance Sheets (Unaudited)
(In millions)
Year Ended
December 31,
2023 2022
ASSETS
Current assets:
Cash and cash equivalents $ 545.8 $ 641.1
Accounts receivable, net 399.9 440.6
Inventories, net 347.0 372.7
Other current assets 114.9 115.3
Total current assets 1,407.6 1,569.7
Property, net 1,028.9 1,049.2
Goodwill 1,719.3 1,671.9
Intangible assets, net 1,590.8 1,597.6
Operating lease assets, net 65.3 60.4
Other non-current assets 156.6 136.2
Total assets $ 5,968.5 $ 6,085.0
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Short-term and current portion of long-term debt $ 9.5 $ 2.2
Accounts payable 432.3 454.4
Current operating lease obligations 16.6 17.0
Accrued expenses and other current liabilities 315.2 395.8
Total current liabilities 773.6 869.4
Non-current liabilities:
Long-term debt 2,070.5 2,176.7
Pension and other post-retirement benefits 67.2 67.2
Deferred income taxes 281.6 342.5
Non-current operating lease obligations 43.2 40.9
Other non-current liabilities 394.4 235.5
Total non-current liabilities 2,856.9 2,862.8
SHAREHOLDERS' EQUITY
Avient shareholders’ equity 2,319.2 2,334.5
Noncontrolling interest 18.8 18.3
Total equity 2,338.0 2,352.8
Total liabilities and equity $ 5,968.5 $ 6,085.0
11
Attachment 5
Avient Corporation
Condensed Consolidated Statements of Cash Flows (Unaudited)
(In millions)
Year Ended
December 31,
2023 2022
Operating activities
Net income $ 76.2 $ 703.4
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on sale of business, net of tax expense — (550.1)
Depreciation and amortization 186.9 157.6
Accelerated depreciation 1.9 5.5
Amortization of inventory step-up — 34.4
Deferred income tax (benefit) expense (61.3) 0.5
Share-based compensation expense 13.2 13.2
Changes in assets and liabilities, net of the effect of acquisitions:
Decrease in accounts receivable 38.6 32.6
Decrease in inventories 24.3 14.0
(Decrease) increase in accounts payable (22.2) 10.7
(Decrease) increase in pension and other post-retirement benefits (15.1) 7.1
Taxes paid on gain on sale of business (104.1) (2.8)
Accrued expenses and other assets and liabilities, net 63.2 (27.7)
Net cash provided by operating activities 201.6 398.4
Investing activities
Capital expenditures (119.4) (105.5)
Business acquisitions, net of cash acquired — (1,426.1)
Settlement of foreign exchange derivatives — 93.3
Net proceeds from divestiture 7.3 928.2
Proceeds from plant closures 7.6 6.1
Other investing activities 10.3 —
Net cash used by investing activities (94.2) (504.0)
Financing activities
Debt offering proceeds — 1,300.0
Purchase of common shares for treasury — (36.4)
Cash dividends paid (90.2) (86.8)
Repayment of long-term debt (105.8) (956.8)
Payments on withholding tax on share awards (3.4) (4.3)
Debt financing costs (2.3) (49.3)
Net cash (used) provided by financing activities (201.7) 166.4
Effect of exchange rate changes on cash (1.0) (20.9)
(Decrease) increase in cash and cash equivalents (95.3) 39.9
Cash and cash equivalents at beginning of year 641.1 601.2
Cash and cash equivalents at end of year $ 545.8 $ 641.1
12
Attachment 6
Avient Corporation
Business Segment Operations (Unaudited)
(In millions)
Operating income at the segment level does not include: special items as defined in Attachment 3; corporate general and
administration costs that are not allocated to segments; intersegment sales and profit eliminations; share-based compensation
costs; and certain other items that are not included in the measure of segment profit and loss that is reported to and reviewed
by the chief operating decision maker.
https://www.avient.com/sites/default/files/resources/Overmolding_of_Thermoplastic_Elastomers_Engineered_solutions_for_consumer_product_differentiation.pdf
Page 10
July 19, 2007
Mechanical Interlock
+ + + + +
- - - - - - - -
Chemical Compatibility
(Interface formed due to favorable
interfacial tension and melt viscosity)
Specific Interaction (e.g..
B-TPE-65A B-TPV-55A B-TPE-35A B-TPE-50A B-TPV-55A B-TPV-70A
Cycoloy C2950 (PC/ABS) 12.8 A 8.1 A 10.4 A 15.1 A
Cycolac T1000 (ABS) 10.2 A 9.1 A 9.1 A 12.4 A
Lexane 141 (PC) 11.7 A 10.2 8.1 A 15 A
Zytel 7331F (PA6) 7.2 A 8.8 A
Zytel 73G33L (33% GF PA6) 8.1 A 8.2 A
Zytel 101L (PA66) 6.8 A 7.2 A
0
5
10
15
20
25
30
35
TPE-A TPE-B TPE-D TPE-E1 TPE-E2
ABS
PC/ABS
PC
Figure 8: Adhesion values of TPEs with rigid substrates, ABS, PC and PC/ABS
Consumer Product Differentiation
Page 13
July 19, 2007
Today there is phenomenal interest in overmolding TPEs onto rigid substrates, particularly in the consumer
product arena in applications requiring a soft touch.
Page 15
July 19, 2007
Figure 10.
https://www.avient.com/sites/default/files/2025-02/News Release - AVNT-2024.12.31-News Release 2.12.25 2PM_0.pdf
You are advised to consult any further
disclosures we make on related subjects in our reports on Form 10-Q, 8-K and 10-K that we
provide to the Securities and Exchange Commission.
6
Investor Relations Contact:
Giuseppe (Joe) Di Salvo
Vice President, Treasurer and Investor Relations
Avient Corporation
+1 440-930-1921
giuseppe.disalvo@avient.com
Media Contact:
Kyle G.
2) Tax adjustments include the net tax impact from non-recurring income tax items and certain adjustments to uncertain tax position reserves
and valuation allowances.
10
Attachment 4
Avient Corporation
Condensed Consolidated Balance Sheets (Unaudited)
(In millions)
Year Ended December 31,
2024 2023
ASSETS
Current assets:
Cash and cash equivalents $ 544.5 $ 545.8
Accounts receivable, net 399.5 399.9
Inventories, net 346.8 347.0
Other current assets 131.3 114.9
Total current assets 1,422.1 1,407.6
Property, net 955.3 1,028.9
Goodwill 1,659.7 1,719.3
Intangible assets, net 1,450.4 1,590.8
Operating lease assets, net 89.1 65.3
Deferred income tax assets 81.3 92.3
Other non-current assets 153.2 64.3
Total assets $ 5,811.1 $ 5,968.5
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Short-term and current portion of long-term debt $ 7.7 $ 9.5
Accounts payable 417.4 432.3
Accrued expenses and other current liabilities 331.0 331.8
Total current liabilities 756.1 773.6
Non-current liabilities:
Long-term debt 2,059.3 2,070.5
Deferred income taxes 260.4 281.6
Other non-current liabilities 405.7 504.8
Total non-current liabilities 2,725.4 2,856.9
SHAREHOLDERS' EQUITY
Avient shareholders’ equity 2,313.8 2,319.2
Noncontrolling interest 15.8 18.8
Total equity 2,329.6 2,338.0
Total liabilities and equity $ 5,811.1 $ 5,968.5
11
Attachment 5
Avient Corporation
Condensed Consolidated Statements of Cash Flows (Unaudited)
(In millions)
Year Ended
December 31,
2024 2023
Operating activities
Net income $ 170.7 $ 76.2
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization 179.7 188.8
Increase in environmental insurance receivable (34.0) —
Deferred income tax benefit (23.8) (61.3)
Share-based compensation expense 15.4 13.2
Changes in assets and liabilities, net of the effect of acquisitions:
(Increase) decrease in accounts receivable (15.2) 38.6
(Increase) decrease in inventories (13.7) 24.3
Increase (decrease) in accounts payable 0.3 (22.2)
Decrease in pension, retirement benefits and deferred compensation (34.3) (8.7)
Taxes paid on gain on sale of business — (104.1)
(Decrease) increase in environmental obligations (11.2) 38.9
Accrued expenses and other assets and liabilities, net 22.9 17.9
Net cash provided by operating activities 256.8 201.6
Investing activities
Capital expenditures (121.9) (119.4)
Net proceeds from divestiture — 7.3
Proceeds from plant closures 3.4 7.6
Other investing activities (2.1) 10.3
Net cash used by investing activities (120.6) (94.2)
Financing activities
Proceeds from long-term borrowings 650.0 —
Payments on long-term borrowings (660.9) (105.8)
Cash dividends paid (94.0) (90.2)
Payments on withholding tax on share awards (6.4) (3.4)
Debt financing costs (9.6) (2.3)
Net cash used by financing activities (120.9) (201.7)
Effect of exchange rate changes on cash (16.6) (1.0)
Decrease in cash and cash equivalents (1.3) (95.3)
Cash and cash equivalents at beginning of year 545.8 641.1
Cash and cash equivalents at end of year $ 544.5 $ 545.8
12
Attachment 6
Avient Corporation
Business Segment Operations (Unaudited)
(In millions)
Operating income and earnings before interest, taxes, depreciation and amortization (EBITDA) at the segment level does not
include: special items as defined in Attachment 3; corporate general and administration costs that are not allocated to
segments; intersegment sales and profit eliminations; share-based compensation costs; and certain other items that are not
included in the measure of segment profit and loss that is reported to and reviewed by the chief operating decision maker.
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