https://www.avient.com/sites/default/files/2024-12/Terms and Conditions of Sale for Chile %28English and Spanish Translation%29.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 Order Confirmation, as
liquidated damages.
9.
En caso de incumplimiento por parte del
Comprador, el Vendedor tendrá derecho (aunque no
estará obligado a ello) a recuperar del Comprador,
además de cualquier otro daño causado por dicha
acción: (i) en el caso de Productos producidos
específicamente para el Comprador o que
razonablemente no puedan ser revendidos por el
Vendedor a un tercero, el precio de dichos Productos
indicado en la confirmación de pedido del
Vendedor; o (ii) en el caso de Productos que puedan
ser revendidos por el Vendedor, daños y perjuicios
equivalentes al cincuenta por ciento (50%) del
precio de los Productos indicado en la Confirmación
de Pedido, en concepto de daños y perjuicios.
9.
https://www.avient.com/sites/default/files/2024-12/Terms and Conditions of Sale for Guatemala %28English and Spanish Translation%29.pdf
Si
el Vendedor otorga un descuento, dicho descuento
solo se refiere a la entrega y/o cantidad de los
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.
En caso de
incumplimiento o falta de cumplimiento del
Comprador, el Vendedor tendrá derecho a (pero no
estará obligado a) recuperar del Comprador, además
de cualquier otro daño causado por tal acción: (i) en
el caso de Productos producidos específicamente
para el Comprador o que razonablemente no pueden
ser revendidos por el Vendedor a un tercero, el precio
de dichos Productos según lo cotizado en la
confirmación del pedido del Vendedor; o (ii) en el
caso de Productos que puedan ser revendidos por el
Vendedor, daños equivalentes al cincuenta por ciento
(50%) del precio de los Productos según lo cotizado
en la confirmación del pedido del Vendedor, como
daños liquidados.
9.
https://www.avient.com/sites/default/files/2023-11/AVNT Q3 2023 Earnings Press Release.pdf
Three Months Ended
September 30, 2023
Three Months Ended
September 30, 2022
Reconciliation to Condensed Consolidated Statements of Income $ EPS $ EPS
Net income (loss) from continuing operations attributable to Avient
shareholders $ 5.1 $ 0.06 $ (27.4) $ (0.30)
Special items, after tax (Attachment 3) 32.0 0.35 68.3 0.75
Amortization expense, after-tax 15.2 0.16 13.4 0.14
Adjusted net income / EPS $ 52.3 $ 0.57 $ 54.3 $ 0.59
Nine Months Ended
September 30, 2023
Nine Months Ended
September 30, 2022
Reconciliation to Condensed Consolidated Statements of Income $ EPS $ EPS
Net income from continuing operations attributable to Avient shareholders $ 48.0 $ 0.52 $ 99.8 $ 1.08
Special items, after tax (Attachment 3) 73.9 0.81 77.9 0.85
Amortization expense, after-tax 46.5 0.51 34.9 0.38
Adjusted net income / EPS $ 168.4 $ 1.84 $ 212.6 $ 2.31
8
Attachment 2
Avient Corporation
Condensed Consolidated Statements of Income (Unaudited)
(In millions, except per share data)
Three Months Ended
September 30,
Nine Months Ended
September 30,
2023 2022 2023 2022
Sales $ 753.7 $ 823.3 $ 2,423.8 $ 2,606.5
Cost of sales 558.4 627.9 1,740.2 1,895.8
Gross margin 195.3 195.4 683.6 710.7
Selling and administrative expense 161.0 154.8 529.9 467.8
Operating income 34.3 40.6 153.7 242.9
Interest expense, net (30.3) (37.3) (88.5) (70.4)
Other income (expense), net 1.0 (32.3) 1.5 (31.3)
Income (loss) from continuing operations before income taxes 5.0 (29.0) 66.7 141.2
Income tax benefit (expense) 0.1 1.2 (18.0) (41.5)
Net income (loss) from continuing operations 5.1 (27.8) 48.7 99.7
Income (loss) from discontinued operations, net of income taxes — 17.1 (0.9) 58.8
Net income (loss) 5.1 (10.7) 47.8 158.5
Net loss (income) attributable to noncontrolling interests — 0.4 (0.7) 0.1
Net income (loss) attributable to Avient common shareholders $ 5.1 $ (10.3) $ 47.1 $ 158.6
Earnings (loss) per share attributable to Avient common shareholders - Basic:
Continuing operations $ 0.06 $ (0.30) $ 0.53 $ 1.09
Discontinued operations — 0.19 (0.01) 0.65
Total $ 0.06 $ (0.11) $ 0.52 $ 1.74
Earnings (loss) per share attributable to Avient common shareholders - Diluted:
Continuing operations $ 0.06 $ (0.30) $ 0.52 $ 1.08
Discontinued operations — 0.19 (0.01) 0.64
Total $ 0.06 $ (0.11) $ 0.51 $ 1.72
Cash dividends declared per share of common stock $ 0.2475 $ 0.2375 $ 0.7425 $ 0.7125
Weighted-average shares used to compute earnings per common share:
Basic 91.1 90.9 91.1 91.3
Diluted 91.9 90.9 91.8 92.0
9
Attachment 3
Avient Corporation
Summary of Special Items (Unaudited)
(In millions, except per share data)
Special items (1)
Three Months Ended
September 30,
Nine Months Ended
September 30,
2023 2022 2023 2022
Cost of sales:
Restructuring costs, including accelerated depreciation $ (2.1) $ (2.8) $ (9.9) $ (9.8)
Environmental remediation costs (38.1) (18.8) (52.5) (23.8)
Reimbursement of previously incurred environmental costs — 0.1 — 8.3
Acquisition related costs — (10.3) — (10.3)
Impact on cost of sales (40.2) (31.8) (62.4) (35.6)
Selling and administrative expense:
Restructuring and employee separation costs (2.0) 0.3 (13.8) (1.0)
Legal and other 1.7 (0.5) (9.1) 1.0
Acquisition related costs (0.5) (8.2) (4.6) (13.2)
Impact on selling and administrative expense (0.8) (8.4) (27.5) (13.2)
Impact on operating income (41.0) (40.2) (89.9) (48.8)
Interest expense, net - financing costs (2.2) (10.0) (2.2) (10.0)
Mark-to-market on derivative instruments — (31.8) — (30.9)
Other — — (0.1) 0.1
Impact on other expense, net — (31.8) (0.1) (30.8)
Impact on income from continuing operations before income taxes (43.2) (82.0) (92.2) (89.6)
Income tax benefit on above special items 10.8 20.5 23.2 22.5
Tax adjustments(2) 0.4 (6.8) (4.9) (10.8)
Impact of special items on net income from continuing operations $ (32.0) $ (68.3) $ (73.9) $ (77.9)
Diluted earnings per common share impact $ (0.35) $ (0.75) $ (0.81) $ (0.85)
Weighted average shares used to compute adjusted earnings per share:
Diluted 91.9 91.6 91.8 92.0
(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 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
https://www.avient.com/sites/default/files/2023-07/AVNT Q2 2023 Earnings Press Release%5B43%5D.pdf
Three Months Ended
June 30, 2023
Three Months Ended
June 30, 2022
Reconciliation to Condensed Consolidated Statements of Income $ EPS $ EPS
Net income from continuing operations attributable to Avient shareholders $ 22.1 $ 0.24 $ 62.8 $ 0.68
Special items, after tax (Attachment 3) 19.6
0.21 3.2 0.03
Amortization expense, after-tax 16.2 0.18 10.5 0.12
Adjusted net income / EPS $ 57.9 $ 0.63 $ 76.5 $ 0.83
Six Months Ended June 30, 2023
Six Months Ended
June 30, 2022
Reconciliation to Condensed Consolidated Statements of Income $ EPS $ EPS
Net income from continuing operations attributable to Avient
shareholders $ 42.9 $ 0.47 $ 127.2 $ 1.38
Special items, after tax (Attachment 3) 41.9 0.46 9.6 0.10
Amortization expense, after-tax 31.3 0.34 21.3 0.23
Adjusted net income / EPS $ 116.1 $ 1.27 $ 158.1 $ 1.71
8
Attachment 2
Avient Corporation
Condensed Consolidated Statements of Income (Unaudited)
(In millions, except per share data)
Three Months Ended
June 30,
Six Months Ended
June 30,
2023 2022 2023 2022
Sales $ 824.4 $ 891.0 $ 1,670.1 $ 1,783.2
Cost of sales 583.7 630.1 1,181.8 1,267.9
Gross margin 240.7 260.9 488.3 515.3
Selling and administrative expense 178.4 160.8 368.9 313.0
Operating income 62.3 100.1 119.4 202.3
Interest expense, net (29.4) (16.2) (58.2) (33.1)
Other (expense) income, net (0.2) 1.6 0.5 1.0
Income from continuing operations before income taxes 32.7 85.5 61.7 170.2
Income tax expense (10.4) (22.7) (18.1) (42.7)
Net income from continuing operations 22.3 62.8 43.6 127.5
Income (loss) from discontinued operations, net of income taxes — 21.9 (0.9) 41.7
Net income 22.3 84.7 42.7 169.2
Net income attributable to noncontrolling interests (0.2) — (0.7) (0.3)
Net income attributable to Avient common shareholders $ 22.1 $ 84.7 $ 42.0 $ 168.9
Earnings (loss) per share attributable to Avient common shareholders - Basic:
Continuing operations $ 0.24 $ 0.69 $ 0.47 $ 1.39
Discontinued operations — 0.24 (0.01) 0.46
Total $ 0.24 $ 0.93 $ 0.46 $ 1.85
Earnings (loss) per share attributable to Avient common shareholders - Diluted:
Continuing operations $ 0.24 $ 0.68 $ 0.47 $ 1.38
Discontinued operations — 0.24 (0.01) 0.45
Total $ 0.24 $ 0.92 $ 0.46 $ 1.83
Cash dividends declared per share of common stock $ 0.2475 $ 0.2375 $ 0.4950 $ 0.4750
Weighted-average shares used to compute earnings per common share:
Basic 91.1 91.4 91.1 91.4
Diluted 91.9 92.1 91.9 92.2
9
Attachment 3
Avient Corporation
Summary of Special Items (Unaudited)
(In millions, except per share data)
Special items (1)
Three Months Ended
June 30,
Six Months Ended
June 30,
2023 2022 2023 2022
Cost of sales:
Restructuring costs, including accelerated depreciation $ (1.2) $ (2.6) $ (7.8) $ (7.0)
Environmental remediation costs (13.0) (3.0) (14.4) (5.0)
Reimbursement of previously incurred environmental costs — 7.6 — 8.2
Impact on cost of sales (14.2) 2.0 (22.2) (3.8)
Selling and administrative expense:
Restructuring (0.5) (2.9) (11.9) (1.3)
Legal and other (6.4) 1.2 (10.6) 1.5
Acquisition related costs (0.7) (2.1) (4.2) (5.0)
Impact on selling and administrative expense (7.6) (3.8) (26.7) (4.8)
Impact on operating income (21.8) (1.8) (48.9) (8.6)
Other income (loss), net 0.1 0.9 (0.1) 1.0
Impact on income from continuing operations before income taxes (21.7) (0.9) (49.0) (7.6)
Income tax expense (benefit) on above special items 5.5 0.2 12.4 2.0
Tax adjustments(2) (3.4) (2.5) (5.3) (4.0)
Impact of special items on net income from continuing operations $ (19.6) $ (3.2) $ (41.9) $ (9.6)
Diluted earnings per common share impact $ (0.21) $ (0.03) $ (0.46) $ (0.10)
Weighted average shares used to compute adjusted earnings per share:
Diluted 91.9 92.1 91.9 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 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
https://www.avient.com/sites/default/files/2022-02/Q4 2021 Avient Earnings Release_0.pdf
Three Months Ended
December 31,
2021 2020
Reconciliation to Condensed Consolidated Statements of Income $ EPS(1) $ EPS(1)
Net income from continuing operations attributable to Avient shareholders $ 29.8 $ 0.32 $ 74.2 $ 0.81
Special items, after tax (Attachment 3) 24.0 0.26 (26.7) (0.29)
Adjusted net income / EPS - excluding special items $ 53.8 $ 0.58 $ 47.5 $ 0.52
(1) Per share amounts may not recalculate from figures presented herein due to rounding
Year Ended
December 31,
2021 2020
Reconciliation to Condensed Consolidated Statements of Income $ EPS(1) $ EPS(1)
Net income from continuing operations attributable to Avient shareholders $ 230.8 $ 2.51 $ 132.0 $ 1.46
Special items, after tax (Attachment 3) 50.0 0.54 24.8 0.27
Adjusted net income / EPS - excluding special items $ 280.8 3.05 $ 156.8 1.73
(1) Per share amounts may not recalculate from figures presented herein due to rounding
8
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,
2021 2020 2021 2020
Sales $ 1,201.5 $ 997.0 $ 4,818.8 $ 3,242.1
Cost of sales 948.4 744.1 3,719.2 2,457.8
Gross margin 253.1 252.9 1,099.6 784.3
Selling and administrative expense 179.1 187.9 718.4 595.0
Operating income 74.0 65.0 381.2 189.3
Interest expense, net (17.5) (19.3) (75.3) (74.6)
Other (expense) income, net (5.4) 11.7 (1.3) 24.3
Income from continuing operations before income taxes 51.1 57.4 304.6 139.0
Income tax (expense) benefit (22.2) 17.3 (74.0) (5.2)
Net income from continuing operations 28.9 74.7 230.6 133.8
Income (loss) from discontinued operations, net of income taxes — 0.1 — (0.4)
Net income 28.9 74.8 230.6 133.4
Net loss (income) attributable to noncontrolling interests 0.9 (0.5) 0.2 (1.8)
Net income attributable to Avient common shareholders $ 29.8 $ 74.3 $ 230.8 $ 131.6
Earnings per share attributable to Avient common shareholders - Basic:
Continuing operations $ 0.33 $ 0.81 $ 2.53 $ 1.47
Discontinued operations — — — (0.01)
Total $ 0.33 $ 0.81 $ 2.53 $ 1.46
Earnings per share attributable to Avient common shareholders - Diluted:
Continuing operations $ 0.32 $ 0.81 $ 2.51 $ 1.46
Discontinued operations — — — (0.01)
Total $ 0.32 $ 0.81 $ 2.51 $ 1.45
Cash dividends declared per share of common stock $ 0.2375 $ 0.2125 $ 0.8750 $ 0.8200
Weighted-average shares used to compute earnings per common share:
Basic 91.5 91.4 91.4 90.1
Diluted 92.4 92.1 92.1 90.6
9
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,
2021 2020 2021 2020
Cost of sales:
Restructuring costs, including accelerated depreciation $ (6.0) $ (1.8) $ (14.6) $ (4.3)
Environmental remediation costs (0.5) (1.1) (22.9) (20.4)
Reimbursement of previously incurred environmental costs — — 4.5 8.7
Acquisition related costs 0.6 1.2 (0.6) (9.3)
Impact on cost of sales (5.9) (1.7) (33.6) (25.3)
Selling and administrative expense:
Restructuring, legal and other (4.2) (13.0) (5.9) (22.5)
Acquisition earn-out adjustments — 1.5 — (1.0)
Acquisition related costs (1.1) (1.4) (8.3) (24.9)
Impact on selling and administrative expense (5.3) (12.9) (14.2) (48.4)
Impact on operating income (11.2) (14.6) (47.8) (73.7)
Costs related to committed financing in interest expense, net — — — (10.1)
Other income, net — 0.1 0.1 0.4
Pension settlement/curtailment and mark-to-market adjustment (loss) gain (9.4) 10.3 (9.4) 17.2
Impact on income from continuing operations before income taxes (20.6) (4.2) (57.1) (66.2)
Income tax benefit (expense) on above special items 4.1 (1.3) 13.0 14.1
Tax adjustments(2) (7.5) 32.2 (5.9) 27.3
Impact of special items on net income from continuing operations
attributable to Avient Shareholders $ (24.0) $ 26.7 $ (50.0) $ (24.8)
Diluted earnings per common share impact of special items on net income
from continuing operations attributable to Avient shareholders $ (0.26) $ 0.29 $ (0.54) $ (0.27)
Weighted average shares used to compute adjusted earnings per share:
Diluted 92.4 92.1 92.1 90.6
(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/2022-08/Avient Candidates Data Privacy Notice Final - Spanish.pdf
También puede eliminar su
perfil de solicitante.
9.
https://www.avient.com/sites/default/files/2022-08/Avient Candidates Data Privacy Notice Final - Italian.pdf
Puoi anche eliminare il tuo profilo di candidato.
9.
https://www.avient.com/sites/default/files/2024-03/Terms and Conditions of Sale for Finland %28Finnish Translation%29.pdf
Jos Ostaja rikkoo tätä sopimusta tai ei suorita
velvollisuuksiaan sen mukaisesti, Myyjällä on oikeus (mutta ei
velvollisuutta) periä Ostajalta toiminnan aiheuttamien muiden
vahinkojen lisäksi: (i) Tuotteiden hinta Myyjän tilausvahvistuksessa
mainitun mukaisesti, jos Tuotteet ovat tuotettu nimenomaan
Ostajalle tai Tuotteet ovat sellaisia, ettei niitä kohtuudella voida
myydä Myyjän toimesta kolmannelle osapuolelle; tai (ii) jos
Tuotteet voidaan myydä kolmannelle osapuolelle, sopimussakkona
viisikymmentä prosenttia (50%) Tuotteiden hinnasta, joka on
mainittu Myyjän tilausvahvistuksessa.
9.
https://www.avient.com/sites/default/files/2024-03/Terms and Conditions of Sale for Hungary %28Hungarian Translation%29.pdf
Amennyiben a Vevő megszegi vagy nem teljesíti a szerződést, az Eladónak
jogában áll (de nem köteles) a Vevőtől behajtani a következőket, az ilyen cselekmény által okozott
egyéb károkon felül: (i) azokban az esetekben, amikor a Termékeket kifejezetten a Vevő számára
állították elő, vagy amikor az Eladó ésszerűen nem adhatja el a Termékeket harmadik félnek, a rendelés
visszaigazolásban meghatározott Termékek árát; vagy (ii) azokban az esetekben, amikor az Eladó
eladhatja a Termékeket, a rendelés visszaigazolásban meghatározott Termékek árának ötven
százalékát (50%) kártérítésként.
9.
https://www.avient.com/sites/default/files/2024-05/AVNT Q1 2024 Earnings Press Release_0.pdf
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.
9
Attachment 4
Avient Corporation
Condensed Consolidated Balance Sheets
(In millions)
(Unaudited)
March 31, 2024 December 31, 2023
ASSETS
Current assets:
Cash and cash equivalents $ 444.3 $ 545.8
Accounts receivable, net 475.3 399.9
Inventories, net 354.0 347.0
Other current assets 117.1 114.9
Total current assets 1,390.7 1,407.6
Property, net 1,021.7 1,028.9
Goodwill 1,700.1 1,719.3
Intangible assets, net 1,546.5 1,590.8
Other non-current assets 217.1 221.9
Total assets $ 5,876.1 $ 5,968.5
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Short-term and current portion of long-term debt $ 9.6 $ 9.5
Accounts payable 428.3 432.3
Accrued expenses and other current liabilities 294.2 331.8
Total current liabilities 732.1 773.6
Non-current liabilities:
Long-term debt 2,069.4 2,070.5
Pension and other post-retirement benefits 66.3 67.2
Deferred income taxes 280.0 281.6
Other non-current liabilities 390.5 437.6
Total non-current liabilities 2,806.2 2,856.9
SHAREHOLDERS' EQUITY
Avient shareholders’ equity 2,321.3 2,319.2
Noncontrolling interest 16.5 18.8
Total equity 2,337.8 2,338.0
Total liabilities and equity $ 5,876.1 $ 5,968.5
10
Attachment 5
Avient Corporation
Condensed Consolidated Statements of Cash Flows (Unaudited)
(In millions)
Three Months Ended
March 31,
2024 2023
Operating activities
Net income $ 49.7 $ 20.4
Adjustments to reconcile net income to net cash used by operating activities:
Depreciation and amortization 43.8 48.7
Accelerated depreciation 0.5 1.8
Share-based compensation expense 3.3 3.2
Changes in assets and liabilities:
Increase in accounts receivable (81.9) (40.2)
(Increase) decrease in inventories (12.3) 3.8
Increase (decrease) in accounts payable 1.7 (9.9)
Accrued expenses and other assets and liabilities, net (47.6) (50.0)
Net cash used by operating activities (42.8) (22.2)
Investing activities
Capital expenditures (24.4) (20.3)
Net proceeds from divestiture — 7.3
Proceeds from plant closures 2.0 —
Other investing activities (2.1) —
Net cash used by investing activities (24.5) (13.0)
Financing activities
Cash dividends paid (23.5) (22.5)
Repayment of long-term debt (2.7) (0.8)
Other financing activities (1.9) (2.3)
Net cash used by financing activities (28.1) (25.6)
Effect of exchange rate changes on cash (6.1) 2.4
Decrease in cash and cash equivalents (101.5) (58.4)
Cash and cash equivalents at beginning of year 545.8 641.1
Cash and cash equivalents at end of period $ 444.3 $ 582.7
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.