https://www.avient.com/sites/default/files/2022-05/DOC 1879.pdf
TABLE OF CONTENTS PAGE 1.0 QUALITY POLICY……………………………………………………………….. 4 2.0 AVIENT BUSINESS & QMS ALIGNMENT………………………………………. 5 3.0 CUSTOMER FOCUS PROCESS………………………………………………… 6 4.0 SCOPE OF STANDARD QUALITY RESPONSE…………………………….. 7 - 8 5.0 COMPANY INFORMATION…………………………………………………… 9 6.0 IT SECURITY………………………………………………………………….. 10 7.0 ENIVIRONMENTAL HEALTH, SAFETY & SECURITY………………………. 10 8.0 TECHNOLOGY…………………………………………………………………. 11 9.0 REGULATORY & STATUTORY REQUIREMENTS…………………………….. 11 10.0 QUALITY MANAGEMENT SYSTEM……………………………………………… 12 10.1 GENERAL…………………………………………………………………… 13 10.2 FACILITY & MAINTENANCE…………………………………………… 14 10.3 CONTROL OF MONITORING & MEASURING DEVICES……………… 14 10.4 MANUFACTORING, PRODUCTION & PROCESS CONTROLS…………….. 15 10.5 NONCONFORMING MATERIALS……………………………………… 15 10.6 MATERIALS, STORAGE, HANDLING & TRACABILITY……………. 16 10.7 PACKAGING, SHIPPING & DISTRIBUTION…………………………… 16 10.8 QUALITY CONTROL TESTING………………………………………….. 17 11.0 CONTINUOUS IMPROVEMENT…………………………………………… ........ 17 11.1 FIGURE B.
Toronto, Canada Ramos Arizpe Coahuila, Mexico Warehouse Locations Elyria, OH Eagan, MN Brampton, Ontario Approved Corporate : Template/Form Document #: DOC-01879 Revision: 8 Document Owners: Brian Hoar Effective Date: May 13, 2022 Title: QF-02 Quality Standard Response Page 9 of 19 Only the electronic version of this document in ETQ is the controlled version of the document.
https://www.avient.com/sites/default/files/2021-10/avnt-q3-2021-news-release.pdf
Upcoming Investor Day “Planning is underway for our investor day in New York City on December 9.
Three Months Ended September 30, 2021 Three Months Ended September 30, 2020 Reconciliation to Condensed Consolidated Statements of Income $ EPS $ EPS Net income from continuing operations attributable to Avient shareholders $ 52.9 $ 0.57 $ 1.7 $ 0.02 Special items, after tax (Attachment 3) 11.7 0.13 40.3 0.44 Adjusted net income / EPS - excluding special items $ 64.6 $ 0.70 $ 42.0 $ 0.46 Nine Months Ended September 30, 2021 Nine Months Ended September 30, 2020 Reconciliation to Condensed Consolidated Statements of Income $ EPS $ EPS Net income from continuing operations attributable to Avient shareholders $ 201.0 $ 2.18 $ 57.8 $ 0.64 Special items, after tax (Attachment 3) 26.0 0.28 51.5 0.57 Adjusted net income / EPS - excluding special items $ 227.0 $ 2.46 $ 109.3 $ 1.21 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, 2021 2020 2021 2020 Sales $ 1,219.8 $ 924.5 $ 3,617.3 $ 2,245.1 Cost of sales 964.4 714.3 2,770.8 1,713.7 Gross margin 255.4 210.2 846.5 531.4 Selling and administrative expense 176.7 176.7 539.3 407.1 Operating income 78.7 33.5 307.2 124.3 Interest expense, net (19.0) (29.7) (57.8) (55.3) Other income, net 1.4 1.5 4.1 12.6 Income from continuing operations before income taxes 61.1 5.3 253.5 81.6 Income taxes (8.5) (2.7) (51.8) (22.5) Net income from continuing operations 52.6 2.6 201.7 59.1 Loss from discontinued operations, net of income taxes — — — (0.5) Net income 52.6 2.6 201.7 58.6 Net loss (income) attributable to noncontrolling interests 0.3 (0.9) (0.7) (1.3) Net income attributable to Avient common shareholders $ 52.9 $ 1.7 $ 201.0 $ 57.3 Earnings per share attributable to Avient common shareholders - Basic: Continuing operations $ 0.58 $ 0.02 $ 2.20 $ 0.64 Discontinued operations — — — — Total $ 0.58 $ 0.02 $ 2.20 $ 0.64 Earnings per share attributable to Avient common shareholders - Diluted: Continuing operations $ 0.57 $ 0.02 $ 2.18 $ 0.64 Discontinued operations — — — (0.01) Total $ 0.57 $ 0.02 $ 2.18 $ 0.63 Cash dividends declared per share of common stock $ 0.2125 $ 0.2025 $ 0.6375 $ 0.6075 Weighted-average shares used to compute earnings per common share: Basic 91.4 91.5 91.3 89.7 Diluted 92.2 91.9 92.1 90.7 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, 2021 2020 2021 2020 Cost of sales: Restructuring costs, including accelerated depreciation and amortization $ (5.3) $ (1.3) $ (8.6) $ (2.5) Environmental remediation costs (9.4) (15.8) (22.4) (19.3) Reimbursement of previously incurred environmental costs — — 4.5 8.7 Acquisition related costs (2.6) (10.5) (1.2) (10.5) Impact on cost of sales (17.3) (27.6) (27.7) (23.6) Selling and administrative expense: Restructuring, legal and other — (4.2) (1.7) (9.5) Acquisition earn-out adjustments — (1.5) — (2.5) Acquisition related costs (2.7) (7.1) (7.2) (23.5) Impact on selling and administrative expense (2.7) (12.8) (8.9) (35.5) Impact on operating income (20.0) (40.4) (36.6) (59.1) Costs related to committed financing in interest expense, net — (9.6) — (10.1) Other income, net 0.1 — 0.1 0.3 Pension settlement gain and mark-to-market adjustment — — — 6.9 Impact on income from continuing operations before income taxes (19.9) (50.0) (36.5) (62.0) Income tax benefit on above special items 4.6 12.7 8.9 15.4 Tax adjustments(2) 3.6 (3.0) 1.6 (4.9) Impact of special items on net income from continuing operations attributable to Avient Shareholders $ (11.7) $ (40.3) $ (26.0) $ (51.5) Diluted earnings per common share impact $ (0.13) $ (0.44) $ (0.28) $ (0.57) Weighted average shares used to compute adjusted earnings per share: Diluted 92.2 91.9 92.1 90.7 (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. (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, 2021 December 31, 2020 ASSETS Current assets: Cash and cash equivalents $ 545.2 $ 649.5 Accounts receivable, net 703.0 516.6 Inventories, net 477.2 327.5 Other current assets 123.5 108.5 Total current assets 1,848.9 1,602.1 Property, net 669.6 694.9 Goodwill 1,293.9 1,308.1 Intangible assets, net 948.4 1,008.5 Operating lease assets, net 81.6 80.9 Other non-current assets 168.6 176.0 Total assets $ 5,011.0 $ 4,870.5 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Short-term and current portion of long-term debt $ 8.7 $ 18.6 Accounts payable 557.7 471.7 Current operating lease obligations 24.1 25.1 Accrued expenses and other current liabilities 371.3 285.6 Total current liabilities 961.8 801.0 Non-current liabilities: Long-term debt 1,851.0 1,854.0 Pension and other post-retirement benefits 111.0 115.0 Non-current operating lease obligations 57.7 56.0 Other non-current liabilities 244.1 332.8 Total non-current liabilities 2,263.8 2,357.8 SHAREHOLDERS' EQUITY Avient shareholders’ equity 1,768.8 1,697.1 Noncontrolling interest 16.6 14.6 Total equity 1,785.4 1,711.7 Total liabilities and equity $ 5,011.0 $ 4,870.5 11 Attachment 5 Avient Corporation Condensed Consolidated Statements of Cash Flows (Unaudited) (In millions) Nine Months Ended September 30, 2021 2020 Operating Activities Net income $ 201.7 $ 58.6 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 105.8 74.8 Accelerated depreciation and amortization 1.9 2.5 Share-based compensation expense 8.4 7.1 Changes in assets and liabilities, net of the effect of acquisitions: Increase in accounts receivable (199.7) (12.7) (Increase) decrease in inventories (156.2) 53.0 Increase in accounts payable 95.3 21.3 Decrease in pension and other post-retirement benefits (14.2) (14.4) Increase in post-acquisition earnout liabilities — 2.5 Increase in accrued expenses and other assets and liabilities, net 67.0 56.1 Taxes paid on gain on divestiture — (142.0) Payment of post-acquisition date earnout liability — (38.1) Net cash provided by operating activities 110.0 68.7 Investing activities Capital expenditures (62.7) (38.6) Business acquisitions, net of cash acquired (47.6) (1,342.7) Net proceeds from divestiture — 7.1 Other investing activities (2.0) 5.2 Net cash used by investing activities (112.3) (1,369.0) Financing activities Debt offering proceeds — 650.0 Purchase of common shares for treasury (4.2) (13.6) Cash dividends paid (58.2) (52.8) Repayment of long-term debt (16.5) (6.0) Payments of withholding tax on share awards (9.1) (1.9) Debt financing costs — (9.5) Equity offering proceeds, net of underwriting discount and issuance costs — 496.1 Payment of acquisition date earnout liability — (50.8) Other financing activities (3.5) — Net cash (used) provided by financing activities (91.5) 1,011.5 Effect of exchange rate changes on cash (10.5) 1.4 Decrease in cash and cash equivalents (104.3) (287.4) Cash and cash equivalents at beginning of year 649.5 864.7 Cash and cash equivalents at end of period $ 545.2 $ 577.3 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/2021-07/avnt-q2-2021-earnings-release.pdf
Sustainability Report and Upcoming Investor Day “We plan to host an investor day in New York City on December 9 to highlight our sustainable solutions portfolio, Clariant Masterbatch integration synergies and future growth plans.
Three Months Ended June 30, 2021 Three Months Ended June 30, 2020 Reconciliation to Condensed Consolidated Statements of Income $ EPS $ EPS Net income from continuing operations attributable to Avient shareholders $ 68.8 $ 0.74 $ 23.0 $ 0.25 Special items, after tax (Attachment 3) 11.7 0.13 2.6 0.03 Adjusted net income / EPS - excluding special items $ 80.5 $ 0.87 $ 25.6 $ 0.28 Six Months Ended June 30, 2021 Six Months Ended June 30, 2020 Reconciliation to Condensed Consolidated Statements of Income $ EPS $ EPS Net income from continuing operations attributable to Avient shareholders $ 148.1 $ 1.60 $ 56.1 $ 0.63 Special items, after tax (Attachment 3) 14.3 0.16 11.2 0.12 Adjusted net income / EPS - excluding special items $ 162.4 $ 1.76 $ 67.3 $ 0.75 7 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, 2021 2020 2021 2020 Sales $ 1,235.2 $ 609.1 $ 2,397.5 $ 1,320.6 Cost of sales 946.5 459.4 1,806.4 999.4 Gross margin 288.7 149.7 591.1 321.2 Selling and administrative expense 180.6 111.7 362.6 230.4 Operating income 108.1 38.0 228.5 90.8 Interest expense, net (19.5) (16.2) (38.8) (25.6) Other income, net 1.2 9.5 2.7 11.1 Income from continuing operations before income taxes 89.8 31.3 192.4 76.3 Income taxes (20.4) (7.9) (43.3) (19.8) Net income from continuing operations 69.4 23.4 149.1 56.5 Loss from discontinued operations, net of income taxes — (0.2) — (0.5) Net income 69.4 23.2 149.1 56.0 Net income attributable to noncontrolling interests (0.6) (0.4) (1.0) (0.4) Net income attributable to Avient common shareholders $ 68.8 $ 22.8 $ 148.1 $ 55.6 Earnings per share attributable to Avient common shareholders - Basic: Continuing operations $ 0.75 $ 0.25 $ 1.62 $ 0.63 Discontinued operations — — — — Total $ 0.75 $ 0.25 $ 1.62 $ 0.63 Earnings per share attributable to Avient common shareholders - Diluted: Continuing operations $ 0.74 $ 0.25 $ 1.60 $ 0.63 Discontinued operations — — — (0.01) Total $ 0.74 $ 0.25 $ 1.60 $ 0.62 Cash dividends declared per share of common stock $ 0.2125 $ 0.2025 $ 0.4250 $ 0.4050 Weighted-average shares used to compute earnings per common share: Basic 91.3 91.4 91.3 88.8 Diluted 92.4 91.8 92.3 89.4 8 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, 2021 2020 2021 2020 Cost of sales: Restructuring costs, including accelerated depreciation and amortization $ (1.5) $ (1.2) $ (3.3) $ (1.2) Environmental remediation costs (12.5) (3.1) (13.0) (3.5) Reimbursement of previously incurred environmental costs — 8.5 4.5 8.7 Acquisition related costs 1.4 — 1.4 — Impact on cost of sales (12.6) 4.2 (10.4) 4.0 Selling and administrative expense: Restructuring, legal and other (1.4) (3.5) (2.7) (5.3) Acquisition earn-out adjustments — — — (1.0) Acquisition related costs (0.2) (9.7) (3.5) (16.4) Impact on selling and administrative expense (1.6) (13.2) (6.2) (22.7) Impact on operating income (14.2) (9.0) (16.6) (18.7) Costs related to committed financing in interest expense, net — (0.5) — (0.5) Other income, net — 0.2 — 0.3 Pension settlement gain and mark-to-market adjustment — 6.9 — 6.9 Impact on income from continuing operations before income taxes (14.2) (2.4) (16.6) (12.0) Income tax benefit on above special items 3.4 0.7 4.3 2.7 Tax adjustments(2) (0.9) (0.9) (2.0) (1.9) Impact of special items on net income from continuing operations attributable to Avient Shareholders $ (11.7) $ (2.6) $ (14.3) $ (11.2) Diluted earnings per common share impact $ (0.13) $ (0.03) $ (0.16) $ (0.12) Weighted average shares used to compute adjusted earnings per share: Diluted 92.4 91.8 92.3 89.4 (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. (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, 2021 December 31, 2020 ASSETS Current assets: Cash and cash equivalents $ 616.2 $ 649.5 Accounts receivable, net 705.2 516.6 Inventories, net 412.5 327.5 Other current assets 124.2 108.5 Total current assets 1,858.1 1,602.1 Property, net 680.1 694.9 Goodwill 1,281.7 1,308.1 Intangible assets, net 944.9 1,008.5 Operating lease assets, net 87.3 80.9 Other non-current assets 195.3 176.0 Total assets $ 5,047.4 $ 4,870.5 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Short-term and current portion of long-term debt $ 18.8 $ 18.6 Accounts payable 574.6 471.7 Current operating lease obligations 24.9 25.1 Accrued expenses and other current liabilities 316.0 285.6 Total current liabilities 934.3 801.0 Non-current liabilities: Long-term debt 1,852.2 1,854.0 Pension and other post-retirement benefits 112.6 115.0 Non-current operating lease obligations 62.8 56.0 Other non-current liabilities 299.1 332.8 Total non-current liabilities 2,326.7 2,357.8 SHAREHOLDERS' EQUITY Avient shareholders’ equity 1,768.2 1,697.1 Noncontrolling interest 18.2 14.6 Total equity 1,786.4 1,711.7 Total liabilities and equity $ 5,047.4 $ 4,870.5 10 Attachment 5 Avient Corporation Condensed Consolidated Statements of Cash Flows (Unaudited) (In millions) Six Months Ended June 30, 2021 2020 Operating Activities Net income $ 149.1 $ 56.0 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 69.5 40.8 Accelerated depreciation and amortization 1.4 — Share-based compensation expense 5.6 5.7 Changes in assets and liabilities, net of the effect of acquisitions: (Increase) decrease in accounts receivable (196.1) 16.8 (Increase) decrease in inventories (88.1) 17.4 Increase (decrease) in accounts payable 108.4 (23.5) Decrease in pension and other post-retirement benefits (9.2) (12.7) Increase (decrease) in accrued expenses and other assets and liabilities, net 27.5 (3.5) Payment of post-acquisition date earnout liability — (21.0) Net cash provided by operating activities 68.1 76.0 Investing activities Capital expenditures (42.1) (21.3) Net proceeds from divestiture — 7.1 Net cash proceeds provided by other assets (2.0) 5.2 Net cash used by investing activities (44.1) (9.0) Financing activities Debt offering proceeds — 650.0 Purchase of common shares for treasury (4.2) (13.6) Cash dividends paid (38.8) (34.3) Repayment of long-term debt (4.4) (4.2) Payments of withholding tax on share awards (4.2) (1.6) Debt financing costs — (9.7) Equity offering proceeds, net of underwriting discount and issuance costs — 496.1 Payment of acquisition date earnout liability — (32.9) Net cash (used) provided by financing activities (51.6) 1,049.8 Effect of exchange rate changes on cash (5.7) (4.5) (Decrease) increase in cash and cash equivalents (33.3) 1,112.3 Cash and cash equivalents at beginning of year 649.5 864.7 Cash and cash equivalents at end of period $ 616.2 $ 1,977.0 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/resources/Terms%2520and%2520Conditions%2520of%2520Sale%2520for%2520Mexico%2520%2528English%2520and%2520Spanish%2520Language%2520Version%2529.pdf
Except to the extent attributable to the Product failing to meet the express warranties set forth in paragraph 1, Buyer will indemnify, defend and hold Seller harmless from all costs, expenses, damages, judgements or other loss, including costs of investigation, litigation and reasonable attorney’s fees, arising out of Buyer’s selection, use, sale and further processing of the Product. 9.
Salvo en la medida atribuible al Producto por no cumplir con las garantías expresas enunciadas en el párrafo 1, el Comprador indemnizará, defenderá y sacará en paz y a salvo al Vendedor de todos los costos de la investigación, litigio y honorarios razonables de abogados , que surjan de la selección del Comprador, uso, venta y tratamiento posterior del Producto. 9.
https://www.avient.com/sites/default/files/resources/Polyolefins%2520Product%2520Selection%2520Guide.pdf
This product selection guide provides detailed information to help you select the Maxxam product that’s right for your application. 4 INJECTION MOLDING POLYPROPYLENE Product Code - - - PP5113 B44 F5134T2-4 PP5130 B63 F5134T4-1 Filler Percentage - % - 13 20 30 40 Tensile Strength Yield psi ASTM D638 5000 4800 4600 4500 MPa ISO 527 33 33 32 31 Tensile Elongation Yield % ASTM D638 6 4 3 2 ISO 527 Break % ASTM D638 60 30 15 10 ISO 527 Flexural Modulus 73°F (23°C) psi ASTM D790 300,000 360,000 400,000 460,000 MPa ISO 178 2300 2450 2900 3300 Notched Izod Impact 73°F (23°C) ft-lb/in ASTM D256 0.65 0.60 0.55 0.50 kJ/m2 ISO 180 3.50 3.3 3.00 2.75 Heat Deflection 66 psi °F ASTM D648 230 240 260 275 °C ISO 75 110 116 127 135 264 psi °F ASTM D648 130 140 150 175 °C ISO 75 54 60 66 79 Specific Gravity 73°F (23°C) - ASTM D792 0.99 1.04 1.15 1.25 ISO 1183 Linear Shrinkage Range 1/8 in wall % - 1.2–1.6 1.0–1.4 0.8–1.2 0.6–1.0 3.2 mm wall % - 1.2–1.6 1.0–1.4 0.8–1.2 0.6–1.0 Product Code - - - PP6113 A77-SM PP6120 B16-2 PP6130 B11 PP6135 B40-UV Filler Percentage - % - 13 20 30 35 Tensile Strength Yield psi ASTM D638 4350 3500 2600 3700 MPa ISO 527 30 24 18 26 Tensile Elongation Yield % ASTM D638 5 4 7 6 ISO 527 Break % ASTM D638 35 70 150 70 ISO 527 Flexural Modulus 73°F (23°C) psi ASTM D790 290,000 280,000 280,000 390,000 MPa ISO 178 2000 1950 1750 2700 Notched Izod Impact 73°F (23°C) ft-lb/in ASTM D256 0.7 2.7 4.5 0.65 kJ/m2 ISO 180 4.0 14 24 3.5 Heat Deflection 66 psi °F ASTM D648 239 215 225 250 °C ISO 75 115 102 107 123 264 psi °F ASTM D648 140 125 130 150 °C ISO 75 60 52 54 60 Specific Gravity 73°F (23°C) - ASTM D792 0.99 1.05 1.15 1.18 ISO 1183 Linear Shrinkage Range 1/8 in wall % - 1.1–1.5 .9–1.3 0.7–1.1 0.5–0.9 3.2 mm wall % - 1.1–1.5 .9–1.3 0.7–1.1 0.5–0.9 Maxxam™ Talc-Filled Copolymer Polypropylene • Scratch & mar resistant • UL approved • FDA certifiable • Natural, black or colors • High flow grades • UV stabilized • UL approved • FDA certifiable • Natural, black or colors • High flow grades • UV stabilized • Recycled content Maxxam™ Talc-Filled Homopolymer Polypropylene Offers a moderate level of impact strength and improved stiffness and heat deflection performance.
https://www.avient.com/sites/default/files/2024-08/AVNT Second Quarter Earnings Press Release.pdf
Europe and Asia regions benefited largely from restocking and share gains, particularly in the packaging end market." 2024 Outlook "Looking ahead to the third quarter, we expect adjusted EPS of $0.62, a 9% increase over the prior year," said Jamie Beggs, Senior Vice President and Chief Financial Officer of Avient Corporation.
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.
https://www.avient.com/sites/default/files/resources/PolyOne%25202018%2520Proxy%2520Statement.PDF
NOTICE OF 2018 ANNUAL MEETING OF SHAREHOLDERS Thursday, May 17, 2018 9:00 a.m.
Please carefully review the proxy materials for the Annual Meeting, which will be held on Thursday, May 17, 2018 at 9:00 a.m.
At a meeting on March 9, 2018, the Board approved a resolution waiving this policy for William H.
https://www.avient.com/sites/default/files/resources/Terms_and_Conditions_of_Sale_for_Finland_%2528English_Language_Version%2529.pdf
Seller shall not be liable to Buyer for any other taxes or duties of any kind unless specifically and mutually agreed to between the parties. 9.
https://www.avient.com/sites/default/files/2023-11/ISO14001 Global Cert_Avient.pdf
Box 5882 Riyadh, Kingdom 11432 Saudi Arabia Activity: Design & Manufacture of Color, Additive Concentrate & Specialty Compounds Activity: Design and Manufacture of Color and Additive Concentrates, Thermoplastic Resins and Specialty Compounds Page 9 of 10 ABS Quality Evaluations Avient Corporation ISO 14001:2015 Certificate Of Conformance ANNEX At Below Facilities: Validity of this certificate may be confirmed at www.abs-qe.com/cert_validation.
https://www.avient.com/sites/default/files/2023-11/Responsible Care_14001 Global Cert_Avient.pdf
Box 5882 Riyadh, Kingdom 11432 Saudi Arabia Activity: Design & Manufacture of Color, Additive Concentrate & Specialty Compounds Activity: Design and Manufacture of Color and Additive Concentrates, Thermoplastic Resins and Specialty Compounds Page 9 of 10 ABS Quality Evaluations Avient Corporation RC14001®:2015 Certificate Of Conformance ANNEX At Below Facilities: Validity of this certificate may be confirmed at www.abs-qe.com/cert_validation.