https://www.avient.com/sites/default/files/2025-01/NEUSoft Product Selection Guide.pdf
NEUSoft™ UR842A NEUSoft™ UR852A NEUSoft™ UR862A NEUSoft™ UR873A
Hardness 42 52 62 73
Specific Gravity 0.96 0.98 1.01 1.04
Compression Set 17 16 16 23
Tensile Strength
@ 50% (psi) 130 185 265 455
Tensile Strength
@ 100% (psi) 185 257 364 594
Tensile Strength
@ 200% (psi) 305 392 532 830
Tensile Strength
@ Break 990 1367 1849 2509
Elongation 501 575 626 542
Tear Resistance 120 164 234 319
Melt Index 190C/8.7kg 2 4 9 13
SELECTION GUIDE
NEUSoft™ Thermoplastic Polyurethanes
With continued advancement in healthcare
technology, the importance of quick prototyping and
material sampling has never been greater.
https://www.avient.com/sites/default/files/2021-05/avient-colorants-singapore-acra-business-profile-may-17-2021.pdf
Date Registered
ID
Officers/Authorised Representative(s)
Position Held
Nationality/CitizenshipName
Date of Appointment
SOH SOCK LAN S1189628F SINGAPORE CITIZEN 01/06/2020ACRA
Director47 JURONG EAST AVENUE 1
#03-01
PARC OASIS
SINGAPORE (609780)
LIM JOO ANN S8679985E MALAYSIAN 01/06/2020ACRA
Director311 JURONG EAST STREET 32
#02-331
JURONG EAST 32
SINGAPORE (600311)
IAN NG FOOK YUN S2565916C SINGAPORE CITIZEN 27/05/2019ACRA
Secretary151 CAVENAGH ROAD
#09-161
CAVENAGH COURT
SINGAPORE (229628)
ANNA MARDIANA ALISJAHBANA S2205619J SINGAPORE CITIZEN 27/05/2019ACRA
Page 2 of 4
ID
Officers/Authorised Representative(s)
Position Held
Nationality/CitizenshipName
Date of Appointment
Secretary46 EASTWOOD ROAD
#04-06
LAGUNA 88
SINGAPORE (486356)
Shareholder(s)
Name
ID Nationality/Citizenship
Place of incorporation/
Origin/Registration
Address Changed
AVIENT SWITZERLAND GMBH T16UF0762F SWITZERLAND ACRA1
ROTHAUSSTRASSE 61
4132 MUTTENZ, SWITZERLAND
Ordinary(Number) Currency
3000000 SINGAPORE, DOLLARS
Abbreviation
UL - Local Entity not registered with ACRA
UF - Foreign Entity not registered with ACRA
AR - Annual Return
AGM - Annual General Meeting
FS - Financial Statements
OSCARS - One Stop Change of Address Reporting Service by Immigration & Checkpoint Authority.
https://www.avient.com/sites/default/files/2021-05/constancia-de-situacion-fiscal-avient.pdf
Móvil Lada: 044 Número: 5578657254
Página [2] de [3]
Actividades Económicas:
Orden Actividad Económica Porcentaje Fecha Inicio Fecha Fin
1 Servicios de consultoría en administración 100 04/09/2019
Regímenes:
Régimen Fecha Inicio Fecha Fin
Régimen General de Ley Personas Morales 04/09/2019
Obligaciones:
Descripción de la Obligación Descripción Vencimiento Fecha Inicio Fecha Fin
Pago definitivo mensual de IVA.
https://www.avient.com/sites/default/files/2023-09/Avient Sustainability Day 2023 - Website %289.19%29.pdf
September 20, 2023
(NYSE: AVNT)Avient
Sustainability Day
AGENDA
WELCOME
INTRODUCTION
SUSTAINABILITY STRATEGY
Walter Ripple
SUSTAINABLE SOLUTIONS
Michael Garratt, Chris Pederson, Woon Keat Moh
SUMMARY
WRAP UP AND Q+A
Avient Corporation 2
Forward-Looking Statements
Certain statements contained in or incorporated by reference into this presentation constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.
EBITDA Margins
(1)
5.4%
11.5%
16.0%
2006 2018 2023E
• Delivered on organic growth combined with
transformative and bolt-on acquisitions
• Divested commodity businesses tied to more
cyclical end markets
• Expanded presence in high growth areas of
sustainable solutions, composites, healthcare
applications and emerging regions
LONG-TERM REVENUE GROWTH DRIVERS
Avient Corporation 14
Growth Drivers
Long-Term
Growth Rate
Sustainable Solutions 8–12%
Composites 8–10%
Healthcare 8–10%
Asia / LATAM 5%
Other (GDP growth) 0–2%
Avient 6%
60%+
Key Growth
Drivers
Sustainable
Solutions
Composites, Healthcare,
Asia / LATAM
Overlap
(GDP Growth)
HISTORICAL GROWTH DRIVER PERFORMANCE
Avient Corporation 15
Composites
$51
$84
$212
$668
$108 $113
$231
$293
Asia/Emerging Regions
$265
$358
$726
$830
12%
$340
$455
$790
$1,175
Sustainable Solutions
(Sales $ in millions)
Avient Corporation 16
$405M
$455M
$550M
$790M
$915M
2016 2017 2018 2019 2020 2021 2022
Revenue From Sustainable Solutions 2016-2022
($ in millions)
11% Organic CAGR
$1,175M
Eco-Conscious
Recycle Solutions
VOC Reduction
Sustainable Infrastructure
Reduced Energy Use
Bio-polymers
Solutions to increase
recycled content and
minimize plastic waste
Solutions to reduce
weight and energy
consumption
Solutions to preserve and
protect natural resources
& human life
SUSTAINABILITY: FOCUS TODAY
Sustainability Strategy
Walter Ripple
Vice President, Sustainability
Avient Corporation 17
OUR SUSTAINABILITY COMMITMENT
As the world’s premier provider of specialized and sustainable materials,
services, and solutions, Avient is committed to meeting the needs of the present
without compromising future generations’ ability to meet their needs.
Per Carlsson, Manufacturing and Operations
Avient Corporation 71
80
2022 2030
Medical Plastics Market Size
PRESERVE – TAKEAWAY
Protecting Human Life and Enabling Connectivity Drives Growth Projections
Examples
Covered
56%
Other Applications
44%
2022
$525M (in
$
Bi
lli
s)
8% CAGR 34% CAGR
5G Infrastructure Market Size
12
92
10
70
80
2023 2024 2025 2026 2027 2028 2029 2030
(in
$
Bi
lli
s)
Source: Grand View Research Source: Global Data
Summary
Senior Vice President and Chief Financial Officer
Avient Corporation 72
OUR SUSTAINABILITY REPORT
Avient Corporation 73
Avient Corporation 74
2030 SUSTAINABILITY GOALS
Avient Corporation 75
PERFORMANCE AND RECOGNITION
1
2
5
ESG Ratings Performance
ESG Awards and Certifications
top 13%
94th
percentile
Avient Corporation 76
SUSTAINABILITY INNOVATION AWARDS
Ultra-Low Carbon
Footprint TPE
Innovation Award, Finalist:
PCR Colorants + Additives
Sustainable Packaging Innovation,
Finalist: U.S.
https://www.avient.com/sites/default/files/2020-07/avient-abac-france-200718.pdf
2
Corruption de représentants officiels publics 2
Corruption commerciale 3
Paiements de facilitation et commissions occultes 3
Travailler avec des agents, distributeurs et autres tiers 3
Diligence raisonnable et processus d’approbation 3
Alertes 4
Exigences en matière de comptabilité et de tenue des registres 4
Signalement des violations potentielles 4
Ligne d’assistance Éthique d’Avient 5
Protection contre les représailles 5
Référence rapide : ABAC, À FAIRE ET À NE PAS FAIRE 6
1
Notre Politique mondiale de lutte
contre la corruption et les
pots-de-vin
Avient interdit strictement la fraude, les pots-de-vin
et autres pratiques commerciales corrompues dans
toutes ses opérations commerciales et partout dans le
monde.
Cette interdiction s’applique,
que l’offre ou le paiement soit effectué directement ou par
l’intermédiaire d’une autre personne.
2 Cela comprend tout représentant officiel public ou employé du secteur privé
2
Afin de se conformer aux lois ABAC, nul collaborateur ou
tiers agissant pour le compte d’Avient ne doit en aucun
cas offrir ou recevoir de quiconque, directement ou
indirectement, toute forme de cadeau, divertissement ou
toute chose de valeur lorsque le pot-de-vin est destiné à :
• obtenir ou conserver un marché ;
• influencer des décisions commerciales ;
• obtenir un avantage injuste.
https://www.avient.com/sites/default/files/2023-07/AVNT Q2 2023 Earnings Press Release%5B43%5D.pdf
Compared to our prior adjusted EPS expectations, raw material deflation as
well as improving mix from composites and sustainable solutions positively impacted the quarter
and more than offset weaker demand conditions.”
2
“Sequentially, we’ve seen modest improvement in Asia, but demand across other regions remains
sluggish, particularly in Europe, as consumers remain cautious with continued inflation and rising
interest rates,” Mr.
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
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
(In millions)
(Unaudited)
June 30, 2023
December 31,
2022
ASSETS
Current assets:
Cash and cash equivalents $ 528.7 $ 641.1
Accounts receivable, net 506.4 440.6
Inventories, net 359.0 372.7
Other current assets 116.6 115.3
Total current assets 1,510.7 1,569.7
Property, net 1,007.4 1,049.2
Goodwill 1,705.7 1,671.9
Intangible assets, net 1,614.7 1,597.6
Other non-current assets 213.3 196.6
Total assets $ 6,051.8 $ 6,085.0
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Short-term debt $ 2.2 $ 2.2
Accounts payable 428.7 454.4
Accrued expenses and other current liabilities 345.6 412.8
Total current liabilities 776.5 869.4
Non-current liabilities:
Long-term debt 2,179.2 2,176.7
Pension and other post-retirement benefits 67.3 67.2
Deferred income taxes 304.8 342.5
Other non-current liabilities 370.3 276.4
Total non-current liabilities 2,921.6 2,862.8
SHAREHOLDERS' EQUITY
Avient shareholders’ equity 2,334.7 2,334.5
Noncontrolling interest 19.0 18.3
Total equity 2,353.7 2,352.8
Total liabilities and equity $ 6,051.8 $ 6,085.0
11
Attachment 5
Avient Corporation
Condensed Consolidated Statements of Cash Flows (Unaudited)
(In millions)
Six Months Ended
June 30,
2023 2022
Operating Activities
Net income $ 42.7 $ 169.2
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization 96.2 71.1
Accelerated depreciation 1.9 3.2
Share-based compensation expense 6.5 6.3
Changes in assets and liabilities, net of the effect of acquisitions:
Increase in accounts receivable (66.6) (133.2)
Decrease (increase) in inventories 14.0 (45.9)
(Decrease) increase in accounts payable (26.2) 98.5
Accrued expenses and other assets and liabilities, net (93.2) (62.5)
Net cash (used) provided by operating activities (24.7) 106.7
Investing activities
Capital expenditures (45.9) (34.0)
Settlement of foreign exchange derivatives — 75.1
Net proceeds from divestiture 7.3 —
Net cash used by investing activities (38.6) 41.1
Financing activities
Purchase of common shares for treasury — (36.4)
Cash dividends paid (45.0) (43.5)
Repayment of long-term debt (1.0) (4.4)
Other financing (2.3) (4.1)
Net cash used by financing activities (48.3) (88.4)
Effect of exchange rate changes on cash (0.8) (15.5)
Decrease in cash and cash equivalents (112.4) 43.9
Cash and cash equivalents at beginning of year 641.1 601.2
Cash and cash equivalents at end of period $ 528.7 $ 645.1
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/2020-07/avient-abac-sweden-200721.pdf
2
Bestickning av offentliga tjänstemän 2
Kommersiella mutor 3
Betalningar av smörjpengar (facilitation payments) och kickbacks 3
Att arbeta med ombud, distributörer och andra tredje parter 3
Due diligence och godkännandeprocessen 3
Varningssignaler 4
Krav avseende redovisning och bokföring 4
Rapportering av eventuella överträdelser 4
Avients jourlinje för etikfrågor 5
Skydd mot repressalier 5
Snabbreferens: BEKÄMPANDE AV MUTOR OCH KORRUPTION – VAD DU BÖR GÖRA OCH INTE GÖRA 6
1
Vår globala policy för bekämpande
av mutor och korruption
Avient förbjuder strängeligen bedrägeri, bestickning och
andra korrupta affärsmetoder i all vår affärsverksamhet
överallt i världen.
Detta förbud gäller oavsett om
erbjudandet eller betalningen görs direkt eller via en
annan person.
2 Detta inbegriper alla offentliga tjänstemän och/eller anställda i den privata sektorn.
2
För att efterleva lagar om mutbrotts- och
korruptionsbekämpning ska ingen medarbetare eller
tredje part som agerar på Avients vägnar någonsin erbjuda
någon, eller ta emot från någon person, vare sig direkt eller
indirekt, någon som helst form av gåva, representation eller
annat av värde ifall denna muta är avsedd att:
• erhålla eller upprätthålla affärer
• påverka affärsbeslut
• vinna en orättvis fördel
Lagar om mutbrotts- och korruptionsbekämpning är
vittomfattande och kan tolkas mycket brett.
https://www.avient.com/sites/default/files/2020-07/avient-abac-brazil-200720.pdf
2
Suborno de funcionários públicos 2
Suborno comercial 3
Pagamentos de facilitação e propinas 3
Trabalhar com agentes, distribuidores e outros terceiros 3
Due diligence e processo de aprovação 3
Sinais de alerta 4
Exigências de manutenção de registros contábeis 4
Denúncias de possíveis violações 4
Linha direta de ética da Avient 4
Proteção contra retaliação 5
Referência rápida: ABAC - O QUE FAZER E O QUE NÃO FAZER 6
1
Nossa política global antissuborno
e anticorrupção
A Avient proíbe estritamente fraudes, subornos e outras
práticas empresariais corruptas em todas as operações
da empresa em qualquer lugar do mundo.
Para cumprir as leis ABAC, nenhum funcionário ou terceiro
que atue em nome da Avient deve oferecer a qualquer
pessoa, ou receber de ninguém, direta ou indiretamente,
qualquer forma de presente, entretenimento ou coisa de
valor como suborno para:
• obter ou manter negócios
2 Isso inclui qualquer funcionário público e/ou funcionário do setor privado
2
• influenciar decisões comerciais
• garantir uma vantagem injusta
As leis ABAC são abrangentes e podem ser interpretadas de
forma muito ampla.
https://www.avient.com/sites/default/files/2024-05/AVNT Q1 2024 Earnings Press Release_0.pdf
The underlying
growth in these regions helped offset softer demand in Europe and Southeast Asia."
2
2024 Outlook
“Looking ahead to the second quarter, we expect adjusted EPS of $0.71, a 13% increase over
the prior year," said Jamie Beggs, Senior Vice President and Chief Financial Officer, Avient
Corporation.
Three Months Ended
March 31,
2024 2023
Reconciliation to Condensed Consolidated Statements of Income $ EPS $ EPS
Net income from continuing operations attributable to Avient shareholders $ 49.4 $ 0.54 $ 20.8 $ 0.23
Special items, after-tax (Attachment 3) 5.5 0.06 22.3 0.24
Amortization expense, after-tax 14.9 0.16 15.1 0.16
Adjusted net income / EPS $ 69.8 $ 0.76 $ 58.2 $ 0.63
7
Attachment 2
Avient Corporation
Condensed Consolidated Statements of Income (Unaudited)
(In millions, except per share data)
Three Months Ended
March 31,
2024 2023
Sales $ 829.0 $ 845.7
Cost of sales 550.8 598.1
Gross margin 278.2 247.6
Selling and administrative expense 184.2 190.5
Operating income 94.0 57.1
Interest expense, net (26.6) (28.8)
Other (expense) income, net (0.9) 0.7
Income from continuing operations before income taxes 66.5 29.0
Income tax expense (16.8) (7.7)
Net income from continuing operations 49.7 21.3
Loss from discontinued operations, net of income taxes — (0.9)
Net income 49.7 20.4
Net income attributable to noncontrolling interests (0.3) (0.5)
Net income attributable to Avient common shareholders $ 49.4 $ 19.9
Earnings (loss) per share attributable to Avient common shareholders - Basic:
Continuing operations $ 0.54 $ 0.23
Discontinued operations — (0.01)
Total $ 0.54 $ 0.22
Earnings (loss) per share attributable to Avient common shareholders - Diluted:
Continuing operations $ 0.54 $ 0.23
Discontinued operations — (0.01)
Total $ 0.54 $ 0.22
Cash dividends declared per share of common stock $ 0.2575 $ 0.2475
Weighted-average shares used to compute earnings per common share:
Basic 91.2 91.0
Diluted 92.0 91.8
8
Attachment 3
Avient Corporation
Summary of Special Items (Unaudited)
(In millions, except per share data)
Special items (1)
Three Months Ended
March 31,
2024 2023
Cost of sales:
Restructuring costs, including accelerated depreciation $ 3.6 $ (6.6)
Environmental remediation costs (4.0) (1.4)
Impact on cost of sales (0.4) (8.0)
Selling and administrative expense:
Restructuring and employee separation costs (0.7) (11.3)
Legal and other (3.5) (4.4)
Acquisition related costs (1.6) (3.4)
Impact on selling and administrative expense (5.8) (19.1)
Impact on operating income (6.2) (27.1)
Other income (loss), net — (0.2)
Impact on income from continuing operations before income taxes (6.2) (27.3)
Income tax benefit on above special items 1.4 6.9
Tax adjustments(2) (0.7) (1.9)
Impact of special items on net income from continuing operations $ (5.5) $ (22.3)
Diluted earnings per common share impact $ (0.06) $ (0.24)
Weighted average shares used to compute adjusted earnings per share:
Diluted 92.0 91.8
(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
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.
https://www.avient.com/sites/default/files/2024-08/AVNT Second Quarter Earnings Press Release.pdf
This performance reflects our team's focus to
capitalize on growth opportunities across the many end markets we serve, with particular
success this quarter in packaging and consumer, our two largest end markets.”
2
Dr.
Three Months Ended
June 30,
2024 2023
Reconciliation to Condensed Consolidated Statements of Income $ EPS $ EPS
Net income from continuing operations attributable to Avient shareholders $ 33.6 $ 0.36 $ 22.1 $ 0.24
Special items, after-tax (Attachment 3) 21.8 0.24 19.6 0.21
Amortization expense, after-tax 14.8 0.16 16.2 0.18
Adjusted net income / EPS $ 70.2 $ 0.76 $ 57.9 $ 0.63
Six Months Ended
June 30,
2024 2023
Reconciliation to Condensed Consolidated Statements of Income $ EPS $ EPS
Net income from continuing operations attributable to Avient shareholders $ 83.0 $ 0.90 $ 42.9 $ 0.47
Special items, after-tax (Attachment 3) 27.3 0.30 41.9 0.46
Amortization expense, after-tax 29.7 0.32 31.3 0.34
Adjusted net income / EPS $ 140.0 $ 1.52 $ 116.1 $ 1.27
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,
2024 2023 2024 2023
Sales $ 849.7 $ 824.4 $ 1,678.7 $ 1,670.1
Cost of sales 592.1 583.7 1,142.9 1,181.8
Gross margin 257.6 240.7 535.8 488.3
Selling and administrative expense 185.1 178.4 369.3 368.9
Operating income 72.5 62.3 166.5 119.4
Interest expense, net (26.6) (29.4) (53.2) (58.2)
Other (expense) income, net (0.9) (0.2) (1.8) 0.5
Income from continuing operations before income taxes 45.0 32.7 111.5 61.7
Income tax expense (11.2) (10.4) (28.0) (18.1)
Net income from continuing operations 33.8 22.3 83.5 43.6
Loss from discontinued operations, net of income taxes — — — (0.9)
Net income $ 33.8 $ 22.3 $ 83.5 $ 42.7
Net income attributable to noncontrolling interests (0.2) (0.2) (0.5) (0.7)
Net income attributable to Avient common shareholders $ 33.6 $ 22.1 $ 83.0 $ 42.0
Earnings (loss) per share attributable to Avient common shareholders - Basic:
Continuing operations $ 0.37 $ 0.24 $ 0.91 $ 0.47
Discontinued operations — — — (0.01)
Total $ 0.37 $ 0.24 $ 0.91 $ 0.46
Earnings (loss) per share attributable to Avient common shareholders - Diluted:
Continuing operations $ 0.36 $ 0.24 $ 0.90 $ 0.47
Discontinued operations — — — (0.01)
Total $ 0.36 $ 0.24 $ 0.90 $ 0.46
Cash dividends declared per share of common stock $ 0.2575 $ 0.2475 $ 0.5150 $ 0.4950
Weighted-average shares used to compute earnings per common share:
Basic 91.3 91.1 91.3 91.1
Diluted 92.2 91.9 92.0 91.9
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,
2024 2023 2024 2023
Cost of sales:
Restructuring costs, including accelerated depreciation $ 0.2 $ (1.2) $ 3.8 $ (7.8)
Environmental remediation costs (21.8) (13.0) (25.8) (14.4)
Impact on cost of sales (21.6) (14.2) (22.0) (22.2)
Selling and administrative expense:
Restructuring and employee separation costs (2.8) (0.5) (3.5) (11.9)
Legal and other (2.3) (6.4) (5.8) (10.6)
Acquisition related costs (0.5) (0.7) (2.1) (4.2)
Impact on selling and administrative expense (5.6) (7.6) (11.4) (26.7)
Impact on operating income (27.2) (21.8) (33.4) (48.9)
Interest expense, net - financing costs (1.0) — (1.0) —
Other income (loss) 0.1 0.1 0.1 (0.1)
Impact on income from continuing operations before income taxes (28.1) (21.7) (34.3) (49.0)
Income tax benefit on above special items 7.0 5.5 8.4 12.4
Tax adjustments(2) (0.7) (3.4) (1.4) (5.3)
Impact of special items on net income from continuing operations $ (21.8) $ (19.6) $ (27.3) $ (41.9)
Diluted earnings per common share impact $ (0.24) $ (0.21) $ (0.30) $ (0.46)
Weighted average shares used to compute adjusted earnings per share:
Diluted 92.2 91.9 92.0 91.9
(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
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
(In millions)
(Unaudited)
June 30, 2024
December 31,
2023
ASSETS
Current assets:
Cash and cash equivalents $ 489.4 $ 545.8
Accounts receivable, net 486.6 399.9
Inventories, net 365.9 347.0
Other current assets 117.2 114.9
Total current assets 1,459.1 1,407.6
Property, net 1,019.9 1,028.9
Goodwill 1,685.1 1,719.3
Intangible assets, net 1,515.7 1,590.8
Other non-current assets 228.0 221.9
Total assets $ 5,907.8 $ 5,968.5
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Short-term and current portion of long-term debt $ 657.7 $ 9.5
Accounts payable 435.2 432.3
Accrued expenses and other current liabilities 405.3 331.8
Total current liabilities 1,498.2 773.6
Non-current liabilities:
Long-term debt 1,420.8 2,070.5
Pension and other post-retirement benefits 63.3 67.2
Deferred income taxes 276.3 281.6
Other non-current liabilities 315.0 437.6
Total non-current liabilities 2,075.4 2,856.9
SHAREHOLDERS' EQUITY
Avient shareholders’ equity 2,317.5 2,319.2
Noncontrolling interest 16.7 18.8
Total equity 2,334.2 2,338.0
Total liabilities and equity $ 5,907.8 $ 5,968.5
11
Attachment 5
Avient Corporation
Condensed Consolidated Statements of Cash Flows (Unaudited)
(In millions)
Six Months Ended
June 30,
2024 2023
Operating Activities
Net income $ 83.5 $ 42.7
Adjustments to reconcile net income to net cash provided (used) by operating activities:
Depreciation and amortization 88.4 96.2
Accelerated depreciation 0.8 1.9
Share-based compensation expense 9.0 6.5
Changes in assets and liabilities:
Increase in accounts receivable (97.0) (66.6)
(Increase) decrease in inventories (27.3) 14.0
Increase (decrease) in accounts payable 11.9 (26.2)
Taxes paid on gain on sale of business — (103.0)
Accrued expenses and other assets and liabilities, net (6.2) 9.8
Net cash provided (used) by operating activities 63.1 (24.7)
Investing activities
Capital expenditures (55.8) (45.9)
Net proceeds from divestiture — 7.3
Proceeds from plant closures 3.4 —
Other investing activities (2.1) —
Net cash used by investing activities (54.5) (38.6)
Financing activities
Cash dividends paid (47.0) (45.0)
Repayment of long-term debt (4.5) (1.0)
Other financing activities (3.3) (2.3)
Net cash used by financing activities (54.8) (48.3)
Effect of exchange rate changes on cash (10.2) (0.8)
Decrease in cash and cash equivalents (56.4) (112.4)
Cash and cash equivalents at beginning of year 545.8 641.1
Cash and cash equivalents at end of period $ 489.4 $ 528.7
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.