https://www.avient.com/sites/default/files/2020-08/mesa-stain-colorants-1-pager-1.pdf
Mesa™ Stain Colorants provide an appealing, long-lasting layer of color on concrete surfaces.
https://www.avient.com/sites/default/files/2022-12/Cesa Fiber Additives Flame Retardants for Synthetic Fibers and Nonwovens Application Bulletin.pdf
The concentrates offer long-term flame retardancy at low dosage and help fiber manufacturers meet key regulatory requirements by EN, DIN, UNI and others around the world.
https://www.avient.com/sites/default/files/resources/POL%2520KeyBanc%2520IR%2520Presentation%2520w%2520non-GAAP%252009%252010%25202013.pdf
In addition, operating income before special items and adjusted EPS are components of various PolyOne annual and long-term employee incentive plans. • A reconciliation of each non-GAAP financial measure with the most directly comparable GAAP financial measure is attached to this presentation which is posted on our website at www.polyone.com.
Average Debt Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013 Average PolyOne Debt $ 705.8 $ 705.2 $ 706.9 $ 1,055.5 $ 1,031.2 $ 840.9 Average Equity Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013 Average PolyOne shareholders’ equity $ 604.3 $ 629.3 $ 629.1 $ 871.8 $ 993.9 $ 745.7 Platform sales and operating income (OI) H1 2012*** H1 2013*** H1 2013**** Global Specialty Engineered Materials Sales $ 280.9 $ 352.0 $ 285.1 Global Color, Additives and Inks Sales 413.9 434.7 409.2 Designed Structures & Solutions Sales - 240.4 - Specialty Platform Sales $ 694.8 $ 1,027.1 $694.3 Performance Products and Solutions Sales 336.0 336.7 317.5 PolyOne Distribution Sales 533.6 543.1 543.1 Corporate and Eliminations (62.3) (68.2) (68.2) Total Sales $ 1,502.1 $ 1,838.7 $ 1,486.7 Global Specialty Engineered Materials OI $ 24.6 $ 32.5 $ 31.2 Global Color, Additives and Inks OI 44.0 54.7 52.0 Designed Structures & Solutions OI - 10.5 - Specialty Platform OI $ 68.6 $ 97.7 $ 83.2 Performance Products and Solutions OI 19.3 27.5 25.7 PolyOne Distribution OI 33.4 33.1 33.1 Corporate and eliminations (20.3) (25.7) (20.3) Special items in OI (20.3) (11.4) (20.3) Operating income - GAAP $ 80.7 $ 121.2 $ 101.4 Special items in OI 20.3 11.4 20.3 Operating income adjusted $ 101.0 $ 132.6 $ 121.7 Global Specialty Engineered Materials - OI % of sales 8.8% 9.2% 10.9% Global Color, Additives and Inks - OI % of sales 10.6% 12.6% 12.7% Designed Structures & Solutions - OI % of sales - 4.4% - Specialty platform - OI % of sales 9.9% 9.5% 12.0% PP&S operating - OI % of sales 5.7% 8.2% 8.1% Distribution OI - % of sales 6.3% 6.1% 6.1% PolyOne OI adjusted - % of sales 6.7% 7.2% 8.2% Reconciliation to Condensed Consolidated Balance Sheets H1 2013 Short-term debt and current portion of long-term debt $ 8.7 Long-term debt 1,022.5 Less cash and cash equivalents (392.4) Specialty Platform Gross Margin Percentage 2006Y* Q2 2013**** Global Specialty Engineered Materials Sales $ 345.3 $ 143.5 Global Color, Additives and Inks Sales 531.8 207.5 Specialty Platform Sales $ 877.1 $ 351.0 Global Specialty Engineered Materials Gross Margin $ 41.6 $ 37.3 Global Color, Additives and Inks Gross Margin 83.6 71.8 Specialty Platform Gross Margin $ 125.2 $ 109.1 Specialty Platform Gross Margin Percentage 14.3% 31.1% * Historical results include the Resin and Specialty Coatings businesses within the Performance Products and Solutions segment.
https://www.avient.com/sites/default/files/resources/POL%2520Gabelli%2520IR%2520Presentation%2520w%2520Non-GAAP%252003%252020%25202014.pdf
In addition, operating income before special items and adjusted EPS are components of various PolyOne annual and long-term employee incentive plans. • A reconciliation of each non-GAAP financial measure with the most directly comparable GAAP financial measure is attached to this presentation which is posted on our website at www.polyone.com.
Reconciliation to Condensed Consolidated Balance Sheets 2013 Short-term debt and current portion of long-term debt $ 12.7 Long-term debt 976.2 Less cash and cash equivalents (365.2) Net debt $ 623.7 Adjusted EBITDA 2013 Income before income taxes $ 151.0 Interest expense, net 63.5 Depreciation and amortization 108.8 Special items in EBITDA 31.7 Adjusted EBITDA $ 355.0 2 Platform sales and operating income (OI) 2006Y* 2013Y Global Specialty Engineered Materials sales $ 345.3 $ 615.5 Global Color, Additives and Inks sales 531.8 852.3 Designed Structures and Solutions sales - 597.4 Specialty Platform sales 877.1 2,065.2 Performance Products and Solutions sales 1,166.2 773.2 PolyOne Distribution sales 732.8 1,075.2 Corporate and eliminations (153.7) (142.4) Total sales $ 2,622.4 $ 3,771.2 Global Specialty Engineered Materials OI $ 3.9 $ 57.2 Global Color, Additives and Inks OI 8.9 104.0 Designed Structures & Solutions OI - 33.4 Specialty Platform OI 12.8 194.6 Performance Products and Solutions OI 64.2 56.0 PolyOne Distribution OI 19.2 63.3 Sunbelt Joint Venture OI 102.9 - Corporate and eliminations (4.6) (52.4) Special items in OI 39.1 (30.0) Operating income GAAP 233.6 231.5 Sunbelt equity income (107.0) - Special items in OI (39.1) 30.0 Adjusted operating income $ 87.5 $ 261.5 Global Specialty Engineered Materials - OI % of sales 1.1% 9.3% Global Color, Additives and Inks - OI % of sales 1.7% 12.2% Designed Structures & Solutions - OI % of sales - 5.6% Specialty platform OI - % of sales 1.5% 9.4% PP&S operating OI - % of sales 5.5% 7.2% Distribution OI - % of sales 2.6% 5.9% PolyOne OI adjusted - % of sales 3.3% 6.9% * Historical results include the Resin and Specialty Coatings businesses within the Performance Products and Solutions segment.
https://www.avient.com/sites/default/files/resources/PolyOne%2520IR%2520Presentation%2520-%2520Goldman%2520Basic%2520Materials%2520Conference.pdf
In addition, operating income before special items and adjusted EPS are components of various PolyOne annual and long-term employee incentive plans. A reconciliation of each non-GAAP financial measure with the most directly comparable GAAP financial measure is attached to this presentation which is posted on our website at www.polyone.com. 4 POLYONE CORPORATION What We Do Value Formulation Expertise Inputs Base resins Additives Modifiers Pigments Expertise in Polymer Materials, Services and Solutions OEMs Brand Owners Processers Assemblers Driving customer value with specialty products & services Service InVisiOSM Color Services IQ Design Labs LSS Customer First POLYONE CORPORATION 5 2016 Revenue ($3.3 Billion) by Segment At a Glance United States 65% Canada 8% Europe 12% Asia 8% Latin America 7% $0.13 $0.68 $0.82 $1.00 $1.31 $1.80 $1.96 $2.13 2009 2010 2011 2012 2013 2014 2015 2016 2016 Revenue by Geography 2016 Revenue by End Market Appliance 5% Building & Construction 11% Industrial 15% Electrical & Electronics 5% Consumer 11% Healthcare 11% Packaging 12% Textiles 2% Transportation 19% Wire & Cable 9% Adjusted Earnings Per Share Performance Products & Solutions 19% PolyOne Distribution 31% Designed Structures & Solutions 11% Specialty Engineered Materials 16% Color Additives and Inks 23% 6 POLYONE CORPORATION 2% 43% 80% 0% 20% 40% 60% 80% 100% 2005 2010 1Q 2017 % o f O pe ra tin g In co m e* *Operating Income excludes corporate charges and special items **LTM 1Q 2017 Specialty OI $5M $87M $274M** Mix Shift Highlights Specialty Transformation JV’s Performance Products & Solutions Specialty Mix Distribution 7 POLYONE CORPORATION 2006 1Q 2017 2020 “Where we were” “Where we are” Platinum Vision Operating Income % of Sales Color, Additives & Inks 1.7% 16.6% 20%+ Specialty Engineered Materials 1.1% 14.8% 20%+ Performance Products & Solutions 5.5% 12.0% 12 – 14% Distribution 2.6% 6.5% 6.5 – 7.5% Designed Structures & Solutions N/A -3.2% 8 – 10% ROIC* 5.0% 12.6% 15% Proof of Performance & 2020 Platinum Vision *ROIC is defined as TTM adjusted OI after tax divided by the sum of average debt and equity less cash over a 5 quarter period Consistently Deliver Double Digit Annual EPS Growth 8 POLYONE CORPORATION Returning Cash to Shareholders $0.16 $0.20 $0.24 $0.32 $0.40 $0.48 $0.54 $0.10 $0.20 $0.30 $0.40 $0.50 $0.60 2011 2012 2013 2014 2015 2016 2017 Annual Dividend* Since 2011, we have returned nearly $900 million to shareholders $167 million returned through dividends $731 million returned through share repurchases *Initiated in 2011 $0 $150 $300 $450 $600 $750 2011 2012 2013 2014 2015 2016 1Q 2017 Cumulative Share Repurchases (in millions) $731M 9 POLYONE CORPORATION Free Cash Flow and Strong Balance Sheet Fund Investment / Shareholder Return Expanding our sales, marketing, and technical capabilities Investing in operational and LSS initiatives ~60 - 70% of capital expenditures fund growth initiatives Organic Growth Acquisitions Share Repurchases Dividends Targets that expand our: • Specialty offerings • End market presence • Geographic breadth Growth synergies Adjacent material solutions Repurchased 1.0 million shares in Q1 2017 Repurchased 19.8 million shares since early 2013 7.5 million shares are available for repurchase under the current authorization Increased annual dividend by 12.5% to $0.54 per share, representing the sixth consecutive year of dividend growth POLYONE CORPORATION 10 2,883 2,538 2006 2016 Volume (lbs in millions) -12% $103 $200 2006 2016 Commercial, R&D and Marketing Spending ($M) +95% $88 $317 2006 2016 Adjusted Operating Profit ($M) +263% Ours is Not a Cost Cutting Story 11 POLYONE CORPORATION Primary Industries Served 2016 Revenue: $3.3 Billion Appliance 5% Electrical & Electronic 5% Building & Construction 11% Industrial 15% Wire & Cable 9% Healthcare 11% Consumer 11% Packaging 12% Transportation 19% Focus End Markets 12 POLYONE CORPORATION Innovation Drives Earnings Growth *Specialty Platform revenue from products introduced in last five years $20 $54 2006 2016 Research & Development Spending ($ millions) Specialty Platform Vitality Index Progression* 14% 33% 2006 2016 CAI & SEM Gross Margin 12% 42% 2006 2016 Target ≥ 35% Innovation Pipeline Potential POLYONE CORPORATION 13 The New PolyOne: A Specialty Growth Company Why Invest In PolyOne?
sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&uact=8&ved=0CAcQjRw&url=http://www.mullerquaker.com/products/greek100/greek100-peach-and-passion-fruit&ei=-acYVZq7EIqwyASDjYL4CA&bvm=bv.89381419,d.cWc&psig=AFQjCNGNCQY1_dCN2RPLzxtap_Pu0omTXQ&ust=1427765484498432 POLYONE CORPORATION 18 2016 Revenue: $0.7 Billion At a Glance: Performance Products & Solutions 2016 Revenue by Industry Expanding Profits 5.5% 6.9% 3.8% 3.6% 5.5% 4.3% 6.3% 7.2% 7.7% 8.3% 12-14% 12.0% 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 1Q 2017 2020 Operating Income % of Sales 11.1% B & C 30% Transportation 18% W & C 16% Industrial 16% Appliance 6% Consumer 5% Packaging 5% E & E 3% Healthcare 1% United States 78% Canada 16% Latin America 4% Asia 2% Key Applications Platinum Vision POLYONE CORPORATION 19 2016 Revenue: $1.1 Billion At a Glance: Distribution Key Suppliers ROIC Expanding Profits 2.6% 3.0% 3.5% 4.0% 4.6% 5.6% 6.4% 5.9% 6.1% 6.6% 6.5-7.5% 6.4% 6.5% 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 1Q 2017 2020 Operating Income % of Sales 4% 36% 2006 2016 Transportation 24% Healthcare 22% Industrial 18% Consumer 15% Appliance 6% E & E 5% B & C 4% Packaging 4% W & C 2% Platinum Vision *After-Tax ROIC http://www.polyone.com/Pages/VariationRoot.aspx 20 POLYONE CORPORATION Target End Markets & Application Examples 21 POLYONE CORPORATION Therma-Tech™ & Sheet GEON™ Vinyl Polymer Colorants Therma-Tech™ TPE’s & Film TPE + OnForce™ Gravi-Tech™ Page 21 Film Target End Markets… Healthcare 22 POLYONE CORPORATION Sound & Vibration Management Fuel Handling Systems Interior & Exterior Trim Structural Braces & Brackets Interior Structural Components Lighting Air management Electronics & Cameras Fluid Handling Target End Markets… Automotive Underhood Components Roof Systems 23 POLYONE CORPORATION PreservaPak™ OnColor™ Smart Batch™ VersaFlex™ TPE Cap Liner ColorMatrix™ Amosorb™ Oxygen Scavenger ColorMatrix™ Ultimate™ UV Light Barrier OnCap™ Laser Marking Additives Target End Markets… Packaging 24 POLYONE CORPORATION Source: Outdoor Industry Association TPE Vibration Dampening (SEM/GLS) TPE + OnForce (SEM) OnForce (SEM) Advanced Composites (SEM) TPE Vibration Dampening (SEM/GLS) Thermoplastic Elastomers (SEM) Advanced Composites (SEM) Polymer Colorants (CAI) Sheet (DSS) TPE & Film (SEM + DSS) Advanced Composites (SEM) Polymer Colorants (CAI) Thermatech (SEM) Thermoplastic Elastomers (SEM) TPE + OnForce (SEM) OnForce (SEM) Target End Markets… Consumer POLYONE CORPORATION 25 Luxury Packaging with Gravitech Density Modified Polymers Impart weight, sound and metallic finish to caps and closures for cosmetics and spirits applications Elevate quality and prestige perceptions among high-end consumers Eliminate time and cost associated with secondary operations and assembly POLYONE CORPORATION 26 Eliminate costs by increasing pigment density Enhance color performance without altering form and formulation Increase design capabilities by reducing weight and layer thickness Optimize Color Usage with OnColor Super Concentrates POLYONE CORPORATION 27 Inhibit microbial growth on polymer surface Enhance value or products and devices Highly versatile concentrate with the ability to be incorporated into a wide variety of products Combat Bacteria Formation with WithStand Antimicrobial Technology POLYONE CORPORATION 28 Medical Device Housings with Chemically Resistant Engineered Polymers Durable, long-lasting products stand up to the most aggressive disinfectants Minimize environmental stress cracking and discoloration One of the broadest medically approved polymer and colorant portfolios POLYONE CORPORATION 29 Color & Design Services Greater control of color development and supply chain Work across entire design process from concept to commercialization Inspire creativity in the use of polymer materials, colors and effects Innovative brand differentiation Faster development timelines POLYONE CORPORATION 30 Outdoor Applications Leading provider of high performance specialty materials for the recreational and sports & leisure industry Well positioned across all segments to address market needs Metal to Polymer Conversion Lightweighting Thermal Management Impact Performance Source: Outdoor Industry Association POLYONE CORPORATION 31 Fiber Colorants Solutions for clothing, apparel, footwear, automotive & sporting goods ColorMatrix Fiber Colorant Solutions Proprietary advanced liquid color formulations and equipment enable greater efficiency and productivity Eliminates aqueous dyeing and its associated wastewater treatment Solid Color Concentrates Extrusion-spun fibers colored via solid masterbatch POLYONE CORPORATION 32 High-Barrier Packaging Containers Capability to extrude up to 13 layers Strong oxygen and moisture vapor transmission protection Can be made symmetrical or asymmetrical to meet customized needs of broad variety of applications Barrier protection and superior sensory properties POLYONE CORPORATION 33 Smart Home Devices with Resilience Vinyl Solutions High flame retardancy to meet strict UL standards Greater processing and design flexibility Specialized additives provide long term color stability Diffusive lens materials improve light dispersion 1 Reconciliation of Non-GAAP Financial Measures (Unaudited) (Dollars in millions, except per share data) Senior management uses comparisons of adjusted net income attributable to PolyOne common shareholders, adjusted earnings per share (EPS) attributable to PolyOne common shareholders 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 that current levels may serve as a base for future performance.
https://www.avient.com/sites/default/files/resources/POL%2520BofA%2520Basic%2520Materials%2520IR%2520Presentation%2520w%2520non-GAAP%252012%252011%25202013.pdf
In addition, operating income before special items and adjusted EPS are components of various PolyOne annual and long-term employee incentive plans. • A reconciliation of each non-GAAP financial measure with the most directly comparable GAAP financial measure is attached to this presentation which is posted on our website at www.polyone.com.
Average Debt Q3 2012 Q4 2012 Q1 2013 Q2 2013 Q3 2013 Average PolyOne Debt $ 705.2 $ 706.9 $ 1,055.5 $ 1,031.2 $ 987.7 $ 897.3 Average Equity Q3 2012 Q4 2012 Q1 2013 Q2 2013 Q3 2013 Average PolyOne shareholders’ equity $ 629.3 $ 629.1 $ 871.8 $ 993.9 $ 996.6 $ 824.1 Reconciliation to Condensed Consolidated Balance Sheets YTD 2013 Short-term debt and current portion of long-term debt $ 9.9 Long-term debt 977.8 Less cash and cash equivalents (322.8) Net debt $ 664.9 Adjusted EBITDA Q4 2012 Q1 2013 Q2 2013 Q3 2013 Total PolyOne Income before income taxes $ (1.1) $ 15.7 $ 62.9 $ 38.8 $ 116.3 PolyOne Interest expense, net 13.7 15.6 16.6 16.0 61.9 PolyOne Depreciation and amortization 15.5 19.0 25.8 30.3 90.6 PolyOne Special items in EBITDA 26.5 27.7 (5.2) 11.2 60.2 PolyOne Adjusted EBITDA 54.6 78.0 100.1 96.3 329.0 Pro forma Spartech EBITDA 14.7 11.2 - - 25.9 Pro forma EBITDA $ 69.3 $ 89.2 $ 100.1 $ 96.3 $ 354.9 PolyOne Investor Presentation��Bank of America Merrill Lynch�2013 US Basic Materials Conference�December 11, 2013� Forward – Looking Statements Use of Non-GAAP Measures Strategy and Execution Drive Results Four Pillar Strategy PolyOne�At A Glance Mix Shift Highlights Specialty Transformation Proof of Performance & 2015 Goals Innovation Drives Earnings Growth We are Experts in Polymer Science and Formulation Positioned for Strong Growth Q3 2013 Financial Highlights Debt Maturities & Liquidity Summary – 9/30/13 Use of Cash Why Invest In PolyOne?
https://www.avient.com/sites/default/files/2025-09/GridCore Installation Guide.pdf
The dust created is considered a skin and respiratory irritant and has no proven long-term health effects due to exposure.
It features a digger to auger holes, and a long boom with a winch for lifting and setting poles.
On-Site Hole Drilling Avient recommends the following personal protective equipment (PPE) be used when field drilling holes: • Cut-resistant gloves Level 4 or similar • ANSI Z87.1 safety glasses • Disposable N65 dust mask or better • Long-sleeve shirt and pants i.
https://www.avient.com/sites/default/files/AVNT Q1 2023 Earnings Press Release.pdf
Beggs added, “We are focused on executing our long-term strategy while we manage in the downturn.
Three Months Ended March 31, 2023 Three Months Ended March 31, 2022 Reconciliation to Condensed Consolidated Statements of Income $ EPS $ EPS Net income from continuing operations attributable to Avient shareholders $ 20.8 $ 0.23 $ 64.4 $ 0.70 Special items, after tax (Attachment 3) 22.3 0.24 6.4 0.07 Amortization expense, after-tax 15.1 0.16 10.8 0.12 Adjusted net income / EPS $ 58.2 $ 0.63 $ 81.6 $ 0.89 8 Attachment 2 Avient Corporation Condensed Consolidated Statements of Income (Unaudited) (In millions, except per share data) Three Months Ended March 31, 2023 2022 Sales $ 845.7 $ 892.2 Cost of sales 598.1 637.8 Gross margin 247.6 254.4 Selling and administrative expense 190.5 152.2 Operating income 57.1 102.2 Interest expense, net (28.8) (16.9) Other income (expense), net 0.7 (0.6) Income from continuing operations before income taxes 29.0 84.7 Income tax expense (7.7) (20.0) Net income from continuing operations 21.3 64.7 (Loss) income from discontinued operations, net of income taxes (0.9) 19.8 Net income 20.4 84.5 Net income attributable to noncontrolling interests (0.5) (0.3) Net income attributable to Avient common shareholders $ 19.9 $ 84.2 Earnings (loss) per share attributable to Avient common shareholders - Basic: Continuing operations $ 0.23 $ 0.70 Discontinued operations (0.01) 0.22 Total $ 0.22 $ 0.92 Earnings (loss) per share attributable to Avient common shareholders - Diluted: Continuing operations $ 0.23 $ 0.70 Discontinued operations (0.01) 0.21 Total $ 0.22 $ 0.91 Cash dividends declared per share of common stock $ 0.2475 $ 0.2375 Weighted-average shares used to compute earnings per common share: Basic 91.0 91.5 Diluted 91.8 92.3 9 Attachment 3 Avient Corporation Summary of Special Items (Unaudited) (In millions, except per share data) Special items (1) Three Months Ended March 31, 2023 2022 Cost of sales: Restructuring costs, including accelerated depreciation $ (6.6) $ (4.4) Environmental remediation costs (1.4) (2.0) Reimbursement of previously incurred environmental costs — 0.6 Impact on cost of sales (8.0) (5.8) Selling and administrative expense: Restructuring, legal and other (15.7) 1.9 Acquisition related costs (3.4) (2.9) Impact on selling and administrative expense (19.1) (1.0) Impact on operating income (27.1) (6.8) Other income (loss), net (0.2) 0.1 Impact on income from continuing operations before income taxes (27.3) (6.7) Income tax expense (benefit) on above special items 6.9 1.8 Tax adjustments(2) (1.9) (1.5) Impact of special items on net income from continuing operations $ (22.3) $ (6.4) Diluted earnings per common share impact $ (0.24) $ (0.07) Weighted average shares used to compute adjusted earnings per share: Diluted 91.8 92.3 (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, 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 changes to valuation allowances. 10 Attachment 4 Avient Corporation Condensed Consolidated Balance Sheets (In millions) (Unaudited) March 31, 2023 December 31, 2022 ASSETS Current assets: Cash and cash equivalents $ 582.7 $ 641.1 Accounts receivable, net 484.4 440.6 Inventories, net 371.9 372.7 Other current assets 125.3 115.3 Total current assets 1,564.3 1,569.7 Property, net 1,045.7 1,049.2 Goodwill 1,689.7 1,671.9 Intangible assets, net 1,601.7 1,597.6 Other non-current assets 209.8 196.6 Total assets $ 6,111.2 $ 6,085.0 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Short-term debt $ 2.2 $ 2.2 Accounts payable 448.1 454.4 Accrued expenses and other current liabilities 386.9 412.8 Total current liabilities 837.2 869.4 Non-current liabilities: Long-term debt 2,177.7 2,176.7 Pension and other post-retirement benefits 66.2 67.2 Deferred income taxes 332.5 342.5 Other non-current liabilities 329.0 276.4 Total non-current liabilities 2,905.4 2,862.8 SHAREHOLDERS' EQUITY Avient shareholders’ equity 2,349.8 2,334.5 Noncontrolling interest 18.8 18.3 Total equity 2,368.6 2,352.8 Total liabilities and equity $ 6,111.2 $ 6,085.0 11 Attachment 5 Avient Corporation Condensed Consolidated Statements of Cash Flows (Unaudited) (In millions) Three Months Ended March 31, 2023 2022 Operating Activities Net income $ 20.4 $ 84.5 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 48.7 35.7 Accelerated depreciation 1.8 2.1 Share-based compensation expense 3.2 3.2 Changes in assets and liabilities, net of the effect of acquisitions: Increase in accounts receivable (40.2) (118.8) Decrease (increase) in inventories 3.8 (15.1) (Decrease) increase in accounts payable (9.9) 90.5 Accrued expenses and other assets and liabilities, net (50.0) (63.2) Net cash (used) provided by operating activities (22.2) 18.9 Investing activities Capital expenditures (20.3) (13.3) Net proceeds from divestiture 7.3 — Net cash used by investing activities (13.0) (13.3) Financing activities Purchase of common shares for treasury — (15.8) Cash dividends paid (22.5) (21.7) Repayment of long-term debt (0.8) (2.4) Other financing (2.3) (3.9) Net cash used by financing activities (25.6) (43.8) Effect of exchange rate changes on cash 2.4 (0.4) Decrease in cash and cash equivalents (58.4) (38.6) Cash and cash equivalents at beginning of year 641.1 601.2 Cash and cash equivalents at end of period $ 582.7 $ 562.6 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/POL%2520Credit%2520Suisse%2520IR%2520Presentation%2520w%2520non-GAAP%25209%252017%25202013.pdf
In addition, operating income before special items and adjusted EPS are components of various PolyOne annual and long-term employee incentive plans. • A reconciliation of each non-GAAP financial measure with the most directly comparable GAAP financial measure is attached to this presentation which is posted on our website at www.polyone.com.
Average Debt Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013 Average PolyOne Debt $ 705.8 $ 705.2 $ 706.9 $ 1,055.5 $ 1,031.2 $ 840.9 Average Equity Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013 Average PolyOne shareholders’ equity $ 604.3 $ 629.3 $ 629.1 $ 871.8 $ 993.9 $ 745.7 Platform sales and operating income (OI) H1 2012*** H1 2013*** H1 2013**** Global Specialty Engineered Materials Sales $ 280.9 $ 352.0 $ 285.1 Global Color, Additives and Inks Sales 413.9 434.7 409.2 Designed Structures & Solutions Sales - 240.4 - Specialty Platform Sales $ 694.8 $ 1,027.1 $694.3 Performance Products and Solutions Sales 336.0 336.7 317.5 PolyOne Distribution Sales 533.6 543.1 543.1 Corporate and Eliminations (62.3) (68.2) (68.2) Total Sales $ 1,502.1 $ 1,838.7 $ 1,486.7 Global Specialty Engineered Materials OI $ 24.6 $ 32.5 $ 31.2 Global Color, Additives and Inks OI 44.0 54.7 52.0 Designed Structures & Solutions OI - 10.5 - Specialty Platform OI $ 68.6 $ 97.7 $ 83.2 Performance Products and Solutions OI 19.3 27.5 25.7 PolyOne Distribution OI 33.4 33.1 33.1 Corporate and eliminations (20.3) (25.7) (20.3) Special items in OI (20.3) (11.4) (20.3) Operating income - GAAP $ 80.7 $ 121.2 $ 101.4 Special items in OI 20.3 11.4 20.3 Operating income adjusted $ 101.0 $ 132.6 $ 121.7 Global Specialty Engineered Materials - OI % of sales 8.8% 9.2% 10.9% Global Color, Additives and Inks - OI % of sales 10.6% 12.6% 12.7% Designed Structures & Solutions - OI % of sales - 4.4% - Specialty platform - OI % of sales 9.9% 9.5% 12.0% PP&S operating - OI % of sales 5.7% 8.2% 8.1% Distribution OI - % of sales 6.3% 6.1% 6.1% PolyOne OI adjusted - % of sales 6.7% 7.2% 8.2% Reconciliation to Condensed Consolidated Balance Sheets H1 2013 Short-term debt and current portion of long-term debt $ 8.7 Long-term debt 1,022.5 Less cash and cash equivalents (392.4) Specialty Platform Gross Margin Percentage 2006Y* Q2 2013**** Global Specialty Engineered Materials Sales $ 345.3 $ 143.5 Global Color, Additives and Inks Sales 531.8 207.5 Specialty Platform Sales $ 877.1 $ 351.0 Global Specialty Engineered Materials Gross Margin $ 41.6 $ 37.3 Global Color, Additives and Inks Gross Margin 83.6 71.8 Specialty Platform Gross Margin $ 125.2 $ 109.1 Specialty Platform Gross Margin Percentage 14.3% 31.1% * Historical results include the Resin and Specialty Coatings businesses within the Performance Products and Solutions segment.
https://www.avient.com/sites/default/files/resources/POL%2520CFA%2520IR%2520Presentation%2520w%2520non%2520GAAP%252011%252019%25202013.pdf
In addition, operating income before special items and adjusted EPS are components of various PolyOne annual and long-term employee incentive plans. • A reconciliation of each non-GAAP financial measure with the most directly comparable GAAP financial measure is attached to this presentation which is posted on our website at www.polyone.com.
Average Debt Q3 2012 Q4 2012 Q1 2013 Q2 2013 Q3 2013 Average PolyOne Debt $ 705.2 $ 706.9 $ 1,055.5 $ 1,031.2 $ 987.7 $ 897.3 Average Equity Q3 2012 Q4 2012 Q1 2013 Q2 2013 Q3 2013 Average PolyOne shareholders’ equity $ 629.3 $ 629.1 $ 871.8 $ 993.9 $ 996.6 $ 824.1 Reconciliation to Condensed Consolidated Balance Sheets YTD 2013 Short-term debt and current portion of long-term debt $ 9.9 Long-term debt 977.8 Less cash and cash equivalents (322.8) Net debt $ 664.9 Adjusted EBITDA Q4 2012 Q1 2013 Q2 2013 Q3 2013 Total PolyOne Income before income taxes $ (1.1) $ 15.7 $ 62.9 $ 38.8 $ 116.3 PolyOne Interest expense, net 13.7 15.6 16.6 16.0 61.9 PolyOne Depreciation and amortization 15.5 19.0 25.8 30.3 90.6 PolyOne Special items in EBITDA 26.5 27.7 (5.2) 11.2 60.2 PolyOne Adjusted EBITDA 54.6 78.0 100.1 96.3 329.0 Pro forma Spartech EBITDA 14.7 11.2 - - 25.9 Pro forma EBITDA $ 69.3 $ 89.2 $ 100.1 $ 96.3 $ 354.9 CFA Society Cleveland �Midwest Investment Conference 2013��PolyOne Investor Presentation �November 19, 2013� Forward – Looking Statements Use of Non-GAAP Measures Strategy and Execution Drive Results PolyOne�At A Glance Mix Shift Highlights Specialty Transformation Proof of Performance & 2015 Goals Innovation Drives Earnings Growth We are Experts in Polymer Science and Formulation Positioned for Strong Growth Q3 2013 Financial Highlights Debt Maturities & Liquidity Summary – 9/30/13 Use of Cash Why Invest In PolyOne?