https://www.avient.com/sites/default/files/2023-03/Avient Annual Report 2022.pdf
Jeddah, Saudi Arabia
9.
Hickory, North Carolina 9.
On December 9, 2020, we announced that we
would increase our share buyback by an additional 5.0 million shares.
https://www.avient.com/sites/default/files/resources/PolyOne%25202014%2520Annual%2520Report.pdf
POLYONE CORPORATION 9
ITEM 1A.
Louis, Missouri Jersey 5.La Mirada,
Tennessee 4.Gaggenau, Germany 5.Sullivan, Missouri 5.Statesville, North California
7.Pasadena, Texas 5.Istanbul, Turkey 6.Massillon, Ohio Carolina 6.Manitowoc,
8.Seabrook, Texas 6.Barbastro, Spain 7.Norwalk, Ohio 6.Elyria, Ohio Wisconsin
9.Orangeville, Ontario, 7.Melle, Germany 8.North Baltimore, 7.La Porte, Texas 7.McMinnville,
Canada 8 & 9.
9) Included for the first quarter 2013 are: 1) $9.9 million in employee separation and restructuring costs 2) acquisition and
divestiture-related costs of $8.7 million, 3) environmental remediation costs of $2.0 million, 4) a gain related to the
reimbursement of previously incurred environmental costs of $5.2 million and 5) $10.6 million in debt extinguishment costs
related to the early retirement of our senior secured term loan.
78 POLYONE CORPORATION
ITEM 9.
https://www.avient.com/sites/default/files/2024-03/Terms and Conditions of Sale for Sweden.pdf
In the event of Buyer’s breach or failure to
perform, Seller shall be entitled to (but is not required to) re-
cover 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 con-
firmation; 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.
I händelse av Köparens avtalsbrott eller underlåten
fullgörelse ska Säljaren ha rätt (men inte vara skyldig) att
återkräva från Köparen, utöver eventuella andra skador som
orsakats av en sådan åtgärd: (i) när det gäller Produkter som
tillverkats specifikt för Köparen eller som rimligen inte kan
säljas vidare av Säljaren till en tredje part, priset för sådana
Produkter som anges i Säljarens orderbekräftelse; eller (ii) när
det gäller Produkter som kan säljas vidare av Säljaren,
ersättning motsvarande femtio procent (50%) av priset för
Produkterna som anges i Säljarens orderbekräftelse, såsom vite.
9.
https://www.avient.com/sites/default/files/2024-03/Terms and Conditions of Sale for the Kingdom of Saudi Arabia.pdf
وفي حالة إخالل المشتري
من المشتري، باإلضافة أن یستردلكنھ غیر ملزم) (و ، یحق للبائعاألداءأو عدم
) في حالة المنتجات التي 1: (التصرفأي أضرار أخرى وقعت نتیجة ذلك إلى
للمشتري أو التي ال یمكن بشكل معقول للبائع إعادة بیعھا إلى الغیر، خصیًصاتُنتج
) أو في حالة المنتجات 2سعر المنتجات الوارد في تأكید الطلب الخاص بالبائع، (
%) من 50التي تعادل خمسین بالمائة ( التعویضاتالتي یمكن للبائع إعادة بیعھا،
ر المنتجات الوارد في تأكید الطلب الخاص بالبائع، في صورة تعویضات سع
اتفاقیة.
9.
التعلیق واإلنھاء. 9
) أو إذا 2تاریخ التسلیم محدد الموعد، (ولم یقدم التأكید الكافي ألداء المشتري قبل
كان لدى البائع شكوك معقولة حول أداء المشتري اللتزاماتھ ولم یقدم المشتري
إلى البائع تأكیدًا كافیًا ألداء المشتري قبل تاریخ التسلیم محدد الموعد، وفي أي
ا أصبح) أو إذ3) یوًما من طلب البائع لذلك التأكید، (30حالة في غضون ثالثین (
لتصفیة دخولھ دور االمشتري معسًرا أو عاجًزا عن سداد دیونھ حال استحقاقھا، أو
أو إقامة أي دعوى إفالس من جانب المشتري أو ضده، أو في حالة تعیین أمین
إذا أجرى كافة أصول المشتري أو غالبیتھا، أو على م أو حارس قضائي أو قیّ
عدم التزام المشتري بأي قانون ) أو في حالة 4المشتري أي تنازل لصالح دائنیھ، (
تشریع أو أمر أو الئحة أو نظام أو معیار ("القوانین والمعاییر")، یجوز للبائع أو
إلى المشتري، دون اإلخالل بأي من حقوقھ األخرى: حینئذ بموجب إخطار خطي
جمیع تكون لمة لم تُدفع قیمتھا واسترداد حیازتھا، و(أ) طلب إعادة أي منتجات مس
التكالیف المتعلقة باسترداد المنتجات لحساب المشتري، و/أو (ب) تعلیق األداء أو
ما لم یسدد المشتري دفعة ،إنھاء تأكید الطلب بشأن التسلیم المعلق للمنتجات
ابل المنتجات إلى البائع.
https://www.avient.com/sites/default/files/2024-09/Terms and Conditions of Sale for Italy.pdf
In caso di
violazione o inadempimento da parte dell'Acquirente, il
Venditore avrà il diritto (ma non l'obbligo) di rivalersi
sull'Acquirente, oltre a qualsiasi altro danno causato da tale
azione: (i) nel caso di Prodotto realizzato specificamente per
l'Acquirente o che ragionevolmente non possa essere
rivenduto dal Venditore a terzi, il prezzo di tale Prodotto
come indicato nella conferma d'ordine del Venditore; o (ii)
nel caso di Prodotti che possono essere rivenduti dal
Venditore, un risarcimento pari al cinquanta per cento (50%)
del prezzo del Prodotto come indicato nella conferma
d'ordine del Venditore, a titolo di risarcimento danni.
9.
Suspension and Termination 9.
https://www.avient.com/sites/default/files/2024-12/Terms and Conditions of Sale for Brazil %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 Seller’s order confirmation, as
liquidated damages.
9.
Em qualquer caso, conforme
descrito acima, todas as reivindicações pendentes do
Vendedor serão devidas e pagáveis imediatamente com
relação aos Produtos entregues ao Comprador e não
retomados pelo Vendedor.
9.
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