https://www.avient.com/sites/default/files/2024-03/Terms and Conditions of Sale for South Africa.pdf
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 these Terms without further obligation upon: (i) 10 calendar days’ written notice; and (ii) payment for all Product received to date. 13.
https://www.avient.com/sites/default/files/2024-12/Terms and Conditions of Sale for Indonesia %28English translation%29.pdf
Buyer’s failure to pay for the Products shall not constitute a force majeure event hereunder. 13.
https://www.avient.com/sites/default/files/2021-04/avnt-first-quarter-2021-news-release.pdf
Three Months Ended March 31, 2021 2020 GAAP Results Special Items Adjusted Results GAAP Results Special Items Adjusted Results Income from continuing operations before income taxes $ 102.6 $ 2.4 $ 105.0 $ 45.0 $ 9.6 $ 54.6 Income tax expense - GAAP (22.9) — (22.9) (11.9) — (11.9) Income tax impact of special items (Attachment 3) — (0.9) (0.9) — (2.0) (2.0) Tax adjustments (Attachment 3) — 1.1 1.1 — 1.0 1.0 Income tax (expense) benefit $ (22.9) $ 0.2 $ (22.7) $ (11.9) $ (1.0) $ (12.9) Effective Tax Rate(1) 22.3 % 21.6 % 26.5 % 23.7 % (1) Rates may not recalculate from figures presented herein due to rounding 13 The following pro forma adjustments are referenced by management to provide comparable business performance by incorporating the Clariant Masterbatch business in periods prior to the acquisition date (July 1, 2020).
https://www.avient.com/sites/default/files/2024-10/Avient Announces Third Quarter 2024 Results.pdf
Microsoft Word - Avient Announces Third Quarter 2024 Results 1 NEWS RELEASE FOR IMMEDIATE RELEASE Avient Announces Third Quarter 2024 Results • Third quarter sales increased 8% over the prior year quarter to $815 million supported by broad-based growth across all regions and most end markets • Third quarter GAAP EPS from continuing operations of $0.41 compared to $0.06 in the prior year quarter • Third quarter adjusted EPS of $0.65 exceeded guidance of $0.62 and increased 14% over prior year quarter, driven by organic revenue growth and margin expansion in both segments, as well as lower interest expense • 2024 full-year adjusted EPS guidance range narrowed to $2.63 to $2.67, from prior guidance range of $2.55 to $2.70; Revised guidance reflects 11% to 13% growth in adjusted EPS over the prior year • Increased dividend 5% to $1.08, on an annualized basis, representing the fourteenth consecutive annual increase CLEVELAND – October 31, 2024 – Avient Corporation (NYSE: AVNT), a leading provider of specialized and sustainable materials solutions, today announced its third quarter 2024 results.
https://www.avient.com/sites/default/files/2024-02/AVNT Q4 2023 Earnings Press Release.pdf
Three Months Ended December 31, Year Ended December 31, 2023 2022 2023 2022 Sales: Color, Additives and Inks $ 459.4 $ 490.8 $ 2,007.4 $ 2,355.0 Specialty Engineered Materials 259.8 300.8 1,138.2 1,044.4 Corporate (0.2) (1.2) (2.8) (2.5) Sales $ 719.0 $ 790.4 $ 3,142.8 $ 3,396.9 Gross margin: Color, Additives and Inks $ 148.3 $ 134.5 $ 631.2 $ 681.3 Specialty Engineered Materials 78.1 82.4 341.8 283.7 Corporate (17.5) (44.9) (80.5) (82.3) Gross margin $ 208.9 $ 172.0 $ 892.5 $ 882.7 Selling and administrative expense: Color, Additives and Inks $ 86.5 $ 90.2 $ 371.3 $ 380.3 Specialty Engineered Materials 48.7 47.2 199.3 143.6 Corporate 30.6 34.2 125.1 115.5 Selling and administrative expense $ 165.8 $ 171.6 $ 695.7 $ 639.4 Operating income: Color, Additives and Inks $ 61.8 $ 44.3 $ 259.9 $ 301.0 Specialty Engineered Materials 29.4 35.2 142.5 140.1 Corporate (48.1) (79.1) (205.6) (197.8) Operating income $ 43.1 $ 0.4 $ 196.8 $ 243.3 13 Attachment 7 Avient Corporation Reconciliation of Non-GAAP Financial Measures (Unaudited) (In millions, except per share data) 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/2023-02/AVNT Q4 2022 Earnings Press Release-1.pdf
Three Months Ended December 31, 2022 2021 Reconciliation to Condensed Consolidated Statements of Income $ EPS(1) $ EPS(1) Net (loss) income from continuing operations attributable to Avient shareholders $ (17.0) $ (0.19) $ 11.2 $ 0.12 Special items, after tax (Attachment 3) 38.3 0.42 23.9 0.26 Amortization expense, after-tax 14.6 0.16 11.3 0.12 Adjusted net income / EPS $ 35.9 $ 0.39 $ 46.4 $ 0.50 (1) Per share amounts may not recalculate from figures presented herein due to rounding Year Ended December 31, 2022 2021 Reconciliation to Condensed Consolidated Statements of Income $ EPS(1) $ EPS(1) Net income from continuing operations attributable to Avient shareholders $ 82.8 $ 0.90 $ 151.8 $ 1.65 Special items, after tax (Attachment 3) 116.2 1.26 50.0 0.54 Amortization expense, after-tax 49.0 0.53 44.9 0.49 Adjusted net income / EPS $ 248.0 $ 2.69 $ 246.7 $ 2.68 (1) Per share amounts may not recalculate from figures presented herein due to rounding 9 Attachment 2 Avient Corporation Condensed Consolidated Statements of Income (Unaudited) (In millions, except per share data) Three Months Ended December 31, Year Ended December 31, 2022 2021 2022 2021 Sales $ 790.4 $ 807.1 $ 3,396.9 $ 3,315.5 Cost of sales 618.4 590.5 2,514.2 2,371.7 Gross margin 172.0 216.6 882.7 943.8 Selling and administrative expense 171.6 166.4 639.4 664.1 Operating income 0.4 50.2 243.3 279.7 Interest expense, net (49.4) (17.5) (119.8) (75.2) Other expense, net (28.4) (5.3) (59.7) (1.0) (Loss) income from continuing operations before income taxes (77.4) 27.4 63.8 203.5 Income tax benefit (expense) 60.8 (17.1) 19.3 (51.9) Net (loss) income from continuing operations (16.6) 10.3 83.1 151.6 Income from discontinued operations, net of income taxes 561.5 18.7 620.3 79.0 Net income 544.9 29.0 703.4 230.6 Net (income) loss attributable to noncontrolling interests (0.4) 0.9 (0.3) 0.2 Net income attributable to Avient common shareholders $ 544.5 $ 29.9 $ 703.1 $ 230.8 Earnings per share attributable to Avient common shareholders - Basic: Continuing operations $ (0.19) $ 0.12 $ 0.91 $ 1.66 Discontinued operations 6.17 0.21 6.80 0.87 Total $ 5.98 $ 0.33 $ 7.71 $ 2.53 Earnings per share attributable to Avient common shareholders - Diluted: Continuing operations $ (0.19) $ 0.12 $ 0.90 $ 1.65 Discontinued operations 6.17 0.20 6.73 0.86 Total $ 5.98 $ 0.32 $ 7.63 $ 2.51 Cash dividends declared per share of common stock $ 0.2475 $ 0.2375 $ 0.9600 $ 0.8750 Weighted-average shares used to compute earnings per common share: Basic 91.0 91.5 91.2 91.4 Diluted 91.0 92.4 92.2 92.1 10 Attachment 3 Avient Corporation Summary of Special Items (Unaudited) (In millions, except per share data) Special items (1) Three Months Ended December 31, Year Ended December 31, 2022 2021 2022 2021 Cost of sales: Restructuring costs, including accelerated depreciation $ (21.3) $ (6.0) $ (31.1) $ (14.6) Environmental remediation costs (0.4) (0.5) (24.2) (22.9) Reimbursement of previously incurred environmental costs — — 8.3 4.5 Acquisition related costs (23.8) 0.6 (34.1) (0.6) Impact on cost of sales (45.5) (5.9) (81.1) (33.6) Selling and administrative expense: Restructuring, legal and other (8.3) (4.2) (8.3) (5.9) Acquisition related costs (6.1) (1.1) (19.3) (8.3) Impact on selling and administrative expense (14.4) (5.3) (27.6) (14.2) Impact on operating income (59.9) (11.2) (108.7) (47.8) Interest expense, net - committed financing and debt extinguishment (16.0) — (26.0) — Mark-to-market on derivatives — — (30.9) — Pension and post retirement mark-to-market adjustment and other (28.4) (9.3) (28.4) (9.3) Impact on Other expense, net (28.4) (9.3) (59.3) (9.3) Impact on income from continuing operations before income taxes (104.3) (20.5) (194.0) (57.1) Income tax benefit benefit/(expense) on above special items 26.8 4.1 49.4 13.0 Tax adjustments(2) 39.2 (7.5) 28.4 (5.9) Impact of special items on net income from continuing operations $ (38.3) $ (23.9) $ (116.2) $ (50.0) Diluted earnings per common share impact $ (0.42) $ (0.26) $ (1.26) $ (0.54) Weighted average shares used to compute adjusted earnings per share: Diluted 91.7 92.4 92.2 92.1 (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 non-recurring income tax items, adjustments to uncertain tax position reserves and deferred income tax valuation allowances. 11 Attachment 4 Avient Corporation Condensed Consolidated Balance Sheets (Unaudited) (In millions) Year Ended December 31, 2022 2021 ASSETS Current assets: Cash and cash equivalents $ 641.1 $ 601.2 Accounts receivable, net 440.6 439.9 Inventories, net 372.7 305.8 Current assets held for sale — 360.2 Other current assets 115.3 119.9 Total current assets 1,569.7 1,827.0 Property, net 1,049.2 672.3 Goodwill 1,671.9 1,284.8 Intangible assets, net 1,597.6 925.2 Operating lease assets, net 60.4 58.2 Non-current assets held for sale — 22.0 Other non-current assets 136.2 207.7 Total assets $ 6,085.0 $ 4,997.2 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Short-term and current portion of long-term debt $ 2.2 $ 8.6 Accounts payable 454.4 429.5 Current operating lease obligations 17.0 21.1 Current liabilities held for sale — 141.3 Accrued expenses and other current liabilities 395.8 340.2 Total current liabilities 869.4 940.7 Non-current liabilities: Long-term debt 2,176.7 1,850.3 Pension and other post-retirement benefits 67.2 99.9 Deferred income taxes 342.5 100.6 Non-current operating lease obligations 40.9 37.3 Non-current liabilities held for sale — 13.1 Other non-current liabilities 235.5 164.8 Total non-current liabilities 2,862.8 2,266.0 SHAREHOLDERS' EQUITY Avient shareholders’ equity 2,334.5 1,774.7 Noncontrolling interest 18.3 15.8 Total equity 2,352.8 1,790.5 Total liabilities and equity $ 6,085.0 $ 4,997.2 12 Attachment 5 Avient Corporation Condensed Consolidated Statements of Cash Flows (Unaudited) (In millions) Year Ended December 31, 2022 2021 Operating activities Net income $ 703.4 $ 230.6 Adjustments to reconcile net income to net cash provided by operating activities: Gain on sale of business, net of tax expense (550.1) — Depreciation and amortization 157.6 144.2 Accelerated depreciation 5.5 1.7 Amortization of inventory step-up 34.4 1.5 Deferred income tax expense (benefit) 0.5 (27.3) Share-based compensation expense 13.2 11.2 Changes in assets and liabilities, net of the effect of acquisitions: Decrease (increase) in accounts receivable 32.6 (143.1) Decrease (increase) in inventories 14.0 (141.0) Increase in accounts payable 10.7 95.3 Increase (decrease) in pension and other post-retirement benefits 7.1 (10.9) Taxes paid on gain on divestiture (2.8) — (Decrease) increase in accrued expenses and other assets and liabilities, net (27.7) 71.6 Net cash provided by operating activities 398.4 233.8 Investing activities Capital expenditures (105.5) (100.6) Business acquisitions, net of cash acquired (1,426.1) (47.6) Settlement of foreign exchange derivatives 93.3 — Proceeds from divestiture 928.2 — Other investing activities 6.1 (2.0) Net cash used by investing activities (504.0) (150.2) Financing activities Debt offering proceeds 1,300.0 — Purchase of common shares for treasury (36.4) (4.2) Cash dividends paid (86.8) (77.7) Repayment of long-term debt (956.8) (18.5) Payments on withholding tax on share awards (4.3) (10.7) Debt financing costs (49.3) — Other financing activities — (3.5) Net cash provided (used) by financing activities 166.4 (114.6) Effect of exchange rate changes on cash (20.9) (17.3) Increase (decrease) in cash and cash equivalents 39.9 (48.3) Cash and cash equivalents at beginning of year 601.2 649.5 Cash and cash equivalents at end of year $ 641.1 $ 601.2 13 Attachment 6 Avient Corporation Business Segment Operations (Unaudited) (In millions) 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.
https://www.avient.com/sites/default/files/2022-11/Avient Announces Third Quarter 2022 Results.pdf
Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Sales: Color, Additives and Inks $ 565.6 $ 586.6 $ 1,864.2 $ 1,820.3 Specialty Engineered Materials 258.2 231.7 743.6 685.3 Corporate and eliminations (0.5) (0.3) (1.3) 2.9 Sales $ 823.3 $ 818.0 $ 2,606.5 $ 2,508.5 Gross margin: Color, Additives and Inks $ 161.3 $ 172.1 $ 546.8 $ 563.0 Specialty Engineered Materials 66.9 61.4 201.3 192.6 Corporate and eliminations (32.8) (17.9) (37.4) (28.3) Gross margin $ 195.4 $ 215.6 $ 710.7 $ 727.3 Selling and administrative expense: Color, Additives and Inks $ 92.7 $ 105.3 $ 290.1 $ 321.1 Specialty Engineered Materials 35.5 31.4 96.4 94.2 Corporate and eliminations 26.6 26.1 81.3 82.4 Selling and administrative expense $ 154.8 $ 162.8 $ 467.8 $ 497.7 Operating income: Color, Additives and Inks $ 68.6 $ 66.8 $ 256.7 $ 241.9 Specialty Engineered Materials 31.4 30.0 104.9 98.4 Corporate and eliminations (59.4) (44.0) (118.7) (110.7) Operating income $ 40.6 $ 52.8 $ 242.9 $ 229.6 Depreciation & amortization: Color, Additives and Inks $ 24.2 $ 26.6 $ 76.1 $ 79.2 Specialty Engineered Materials 12.9 7.9 28.4 23.8 Corporate and eliminations 2.7 2.1 9.2 4.1 Depreciation & Amortization $ 39.8 $ 36.6 $ 113.7 $ 107.1 Earnings before interest, taxes, depreciation and amortization (EBITDA): Color, Additives and Inks $ 92.8 $ 93.4 $ 332.8 $ 321.1 Specialty Engineered Materials 44.3 37.9 133.3 122.2 Corporate and eliminations (56.7) (41.9) (109.5) (106.6) Other (expense) income, net (32.3) 1.6 (31.3) 4.3 EBITDA $ 48.1 $ 91.0 $ 325.3 $ 341.0 13 Attachment 7 Avient Corporation Reconciliation of Non-GAAP Financial Measures (Unaudited) (In millions, except per share data) 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/2025-05/Avient Announces First Quarter 2025 Results_0.pdf
Three Months Ended March 31, Reconciliation to Consolidated Statements of Income 2025 2024 Sales $ 826.6 $ 829.0 Gross margin - GAAP 263.2 278.2 Special items in gross margin (Attachment 3) 7.7 0.4 Adjusted gross margin $ 270.9 $ 278.6 Adjusted gross margin as a percent of sales 32.8 % 33.6 % Operating income - GAAP 0.7 94.0 Special items in operating income (Attachment 3) 99.5 6.2 Adjusted operating income $ 100.2 $ 100.2 Adjusted operating income as a percent of sales 12.1 % 12.1 % Three Months Ended March 31, Reconciliation to EBITDA and Adjusted EBITDA: 2025 2024 Net (loss) income – GAAP $ (19.9) $ 49.7 Income tax (benefit) expense (6.7) 16.8 Interest expense, net 26.9 26.6 Depreciation & amortization 45.3 44.3 EBITDA $ 45.6 $ 137.4 Special items, before tax 101.2 6.2 Interest expense included in special items (1.7) — Depreciation & amortization included in special items (0.4) (0.5) Adjusted EBITDA $ 144.7 $ 143.1 Adjusted EBITDA as a percent of sales 17.5 % 17.3 % 13 Year Ended December 31, 2024 Reconciliation to Condensed Consolidated Statements of Income $ EPS(1) Net income attributable to Avient common shareholders $ 169.5 $ 1.84 Special items, after-tax 15.9 0.17 Amortization expense, after-tax 59.5 0.65 Adjusted net income / EPS $ 244.9 $ 2.66 (1) Per share amounts may not recalculate from figures presented herein due to rounding Three Months Ended June 30, 2024 Reconciliation to Condensed Consolidated Statements of Income $ EPS(1) Net income attributable to Avient common shareholders $ 33.6 $ 0.36 Special items, after-tax 21.8 0.24 Amortization expense, after-tax 14.8 0.16 Adjusted net income / EPS $ 70.2 $ 0.76 (1) Per share amounts may not recalculate from figures presented herein due to rounding
https://www.avient.com/resource-center/knowledge-base/advanced-composites-ballistic-protections?rtype%5B0%5D=1164
EPA指出,在价值链的各类活动中,排放量最大的是货物运输(26%)、电力(24%)和制造(13%)。
https://www.avient.com/investor-center/news/avient-announces-fourth-quarter-and-full-year-2020-results-and-provides-guidance-2021
For the year, SEM grew operating income 13%, as demand for our composites technologies continues to strengthen," said