https://www.avient.com/sites/default/files/2024-05/AVNT Q1 2024 Earnings Press Release_0.pdf
Conference call
participants in the question and answer session should pre-register using the link at
avient.com/investors, or here, to receive the dial-in numbers and personal PIN.
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/2024-12/Terms and Conditions of Sale for France.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.
11.
Except in the case of a force majeure, if not satisfied with
Seller’s determination, Buyer as its sole remedy shall have a right to terminate this contract without further obligation
upon: (i) ten (10) calendar days’ written notice; and (ii) payment for all Product received to date.
16.
Buyer shall disseminate such information so as to give warning of
possible hazards to persons whom Buyer can reasonably foresee may receive exposure to such hazards, including, but not
limited to, Buyer’s employees, agents, contractors and customers.
https://www.avient.com/sites/default/files/2024-08/AVNT Second Quarter Earnings Press Release.pdf
Conference call participants in the question and answer session should pre-register using the
link at avient.com/investors, or here, to receive the dial-in numbers and personal PIN.
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/2024-08/Avient-2023-Sustainability-Report_5.pdf
Avon Lake, Ohio
11.
Gazientep, Turkey 11.
We
have received third party certification from TÜV Rheinland.
https://www.avient.com/sites/default/files/2024-08/Avient 2023 Sustainability Report_6.pdf
Avon Lake, Ohio
11.
Gazientep, Turkey 11.
We
have received third party certification from TÜV Rheinland.
https://www.avient.com/sites/default/files/resources/Terms%2520and%2520Conditions%2520of%2520Sale%2520for%2520Hungary.pdf
The settlement of strikes or lockouts involving the
parties hereto shall lie entirely within the discretion of
the party having the difficulty, and the above
requirements for remedy of any force majeure with all
reasonable dispatch shall not require the settlement of
strikes or lockouts by acceding to the demands of the
employees involved, when deemed inadvisable by the
party having the labor difficulty.
11.
Buyer will disseminate such information so
as to give warning of possible hazards to persons
whom Buyer can reasonably foresee may receive
exposure to such hazards, including, but not limited to,
Buyer's employees, agents, contractors and customers.
Except in the case of a force majeure, if not
satisfied with Seller's determination, Buyer shall have
a right to terminate the relevant purchase order(s)
upon: (i) 10 days written notice; and (ii) payment for
all Product received to date, without further obligation.
https://www.avient.com/sites/default/files/2021-07/avnt-q2-2021-earnings-release.pdf
In addition, a recording of the audio will be available for one week, beginning at 11:00 a.m.
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/2021-04/avnt-fourth-quarter-2020-news-release.pdf
NEWS RELEASE
FOR IMMEDIATE RELEASE
Avient Announces Fourth Quarter and Full Year 2020 Results
and Provides Guidance for 2021
Fourth Quarter Results
• GAAP EPS from continuing operations of $0.81 compared to $0.08 in the prior year quarter
• Record fourth quarter adjusted EPS of $0.52 increased 73% compared to $0.30 pro forma*
in the prior year, driven by strong organic revenue growth in all segments, improved
operating margins and synergy capture from the Clariant Masterbatch acquisition
• Increased dividend for the 10th consecutive year to $0.85 a share on an annualized basis
Full Year Results
• Completed transformational Clariant Masterbatch acquisition and renamed the company as
Avient
• GAAP EPS from continuing operations of $1.46 compared to $0.97 in the prior year
• Adjusted EPS increased 11% to $1.93 pro forma, on strength in healthcare, packaging and
consumer end markets
• Specialty Engineered Materials (SEM) segment delivered record operating income of $94
million, driven by growth in composites and demand for outdoor high performance
applications
CLEVELAND – February 9, 2021 – Avient Corporation (NYSE: AVNT), a leading provider of
specialized and sustainable material solutions, today reported its full year and fourth quarter
results for 2020.
2) Tax adjustments include the net tax benefit/(expense) from one-time income tax items, adjustments to uncertain tax position reserves and
deferred income tax valuation allowances.
8
Attachment 4
Condensed Consolidated Balance Sheets (Unaudited)
ASSETS
Current assets:
Cash and cash equivalents $ 649.5 $ 864.7
Accounts receivable, net 516.6 330.0
Inventories, net 327.5 260.9
Other current assets 89.9 57.7
Total current assets 1,583.5 1,513.3
Property, net 694.9 407.4
Goodwill 1,308.1 685.7
Intangible assets, net 1,008.5 469.3
Operating lease assets, net 80.9 63.8
Other non-current assets 195.4 133.8
Total assets $ 4,871.3 $ 3,273.3
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Short-term and current portion of long-term debt $ 18.6 $ 18.4
Accounts payable 471.7 287.7
Current operating lease obligations 25.1 21.0
Accrued expenses and other current liabilities 289.2 375.4
Total current liabilities 804.6 702.5
Non-current liabilities:
Long-term debt 1,854.0 1,210.9
Pension and other post-retirement benefits 115.0 56.6
Deferred income taxes 150.7 63.5
Non-current operating lease obligations 56.0 42.8
Other non-current liabilities 192.8 144.3
Total non-current liabilities 2,368.5 1,518.1
SHAREHOLDERS' EQUITY
Avient shareholders’ equity 1,683.6 1,051.9
Noncontrolling interest 14.6 0.8
Total equity 1,698.2 1,052.7
Total liabilities and equity $ 4,871.3 $ 3,273.3
9
Attachment 5
Condensed Consolidated Statements of Cash Flows (Unaudited)
Year Ended
2020 2019
Operating activities
Net income $ 133.4 $ 588.8
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on sale of business, net of tax — (457.7)
Depreciation and amortization 111.8 87.5
Accelerated depreciation and fixed asset charges associated with restructuring activities 3.2 —
Deferred income tax benefit (1.1) (3.2)
Share-based compensation expense 11.3 11.6
Changes in assets and liabilities, net of the effect of acquisitions:
(Increase) decrease in accounts receivable (4.6) 29.7
Decrease in inventories 40.2 40.2
Increase (decrease) in accounts payable 79.5 (22.7)
Increase (decrease) in pension and other post-retirement benefits 30.7 (19.7)
Increase in post-acquisition earnout liabilities 1.0 36.4
(Decrease) increase in accrued expenses and other assets and liabilities - net (3.7) 9.9
Taxes paid on gain on sale of business (142.0) —
Payment of post-acquisition date earnout liability (38.1) —
Net cash provided by operating activities 221.6 300.8
Investing activities
Capital expenditures (63.7) (81.7)
Business acquisitions, net of cash acquired (1,380.2) (119.6)
Net proceeds from divestiture 7.1 761.8
Net proceeds from other assets 5.2 51.4
Net cash (used) provided by investing activities (1,431.6) 611.9
Financing activities
Debt offering proceeds 650.0 —
Borrowings under credit facilities — 963.4
Repayments under credit facilities — (1,083.9)
Purchase of common shares for treasury (22.4) (26.9)
Cash dividends paid (71.3) (60.3)
Repayment of other debt — (1.8)
Repayment of long-term debt (7.8) (6.5)
Payments on withholding tax on share awards (2.3) (2.1)
Debt financing costs (9.5) (0.2)
Equity offering proceeds, net of underwriting discount and issuance costs 496.1 —
Payment of acquisition date earnout liability (50.8) —
Net cash provided (used) by financing activities 982.0 (218.3)
Effect of exchange rate changes on cash 12.8 (0.6)
(Decrease) increase in cash and cash equivalents (215.2) 693.8
Cash and cash equivalents at beginning of year 864.7 170.9
Cash and cash equivalents at end of year $ 649.5 $ 864.7
10
Attachment 6
Business Segment Operations (Unaudited)
Operating income at the segment level does not include: special items as defined in Attachment 3; corporate general and
administration costs that are not allocated to segments; intersegment sales and profit eliminations; share-based compensation
costs; and certain other items that are not included in the measure of segment profit and loss that is reported to and reviewed
by the chief operating decision maker.
Three Months Ended
Year Ended
Sales:
Color, Additives and Inks $ 525.8 $ 226.7 $ 1,502.9 $ 1,003.8
Specialty Engineered Materials 190.6 177.5 708.8 745.7
Distribution 305.1 272.4 1,110.3 1,192.2
Corporate and eliminations (24.5) (18.0) (79.9) (79.0)
Sales $ 997.0 $ 658.6 $ 3,242.1 $ 2,862.7
Gross margin:
Color, Additives and Inks $ 164.3 $ 73.9 $ 484.4 $ 338.4
Specialty Engineered Materials 59.1 47.7 207.6 200.2
Distribution 32.4 31.0 124.0 132.1
Corporate and eliminations (2.9) 0.7 (31.7) (13.5)
Gross margin $ 252.9 $ 153.3 $ 784.3 $ 657.2
Selling and administrative expense:
Color, Additives and Inks $ 106.8 $ 46.7 $ 303.6 $ 191.0
Specialty Engineered Materials 28.7 28.9 113.2 116.5
Distribution 14.4 14.0 54.5 56.7
Corporate and eliminations 38.0 43.2 123.7 136.2
Selling and administrative expense $ 187.9 $ 132.8 $ 595.0 $ 500.4
Operating income:
Color, Additives and Inks $ 57.5 $ 27.2 $ 180.8 $ 147.4
Specialty Engineered Materials 30.4 18.8 94.4 83.7
Distribution 18.0 17.0 69.5 75.4
Corporate and eliminations (40.9) (42.5) (155.4) (149.7)
Operating income $ 65.0 $ 20.5 $ 189.3 $ 156.8
11
Attachment 7
Reconciliation of Non-GAAP Financial Measures (Unaudited)
Senior management uses gross margin before special items and operating income before special items to assess performance
and allocate resources because senior management believes that these measures are useful in understanding current
profitability levels and how it may serve as a basis for future performance.
https://www.avient.com/sites/default/files/2021-10/avnt-q3-2021-news-release.pdf
In addition, a recording of the audio will be available for one week, beginning at 11:00 a.m.
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/investor-center/news/avient-announces-first-quarter-2023-results
Conference call participants in the question and answer session should pre-register using the link at avient.com/investors, or here, to receive the dial-in numbers and a personal PIN, which are required to access the conference call.
Accounts receivable, net
Increase in accounts receivable