https://www.avient.com/sites/default/files/2023-02/AVNT Q4 2022 Earnings Press Release-1.pdf
Each of such adjustments has not yet
occurred, are out of the Company's control and/or cannot be reasonably predicted.
Three Months Ended
December 31,
Year Ended
December 31,
Reconciliation to Consolidated Statements of Income 2022 2021 2022 2021
Sales $ 790.4 $ 807.1 $ 3,396.9 $ 3,315.5
Gross margin - GAAP 172.0 216.6 882.7 943.8
Special items in gross margin (Attachment 3) 45.5 5.9 81.1 33.6
Adjusted Gross margin $ 217.5 $ 222.5 $ 963.8 $ 977.4
Adjusted Gross margin as a percent of sales 27.5 % 27.6 % 28.4 % 29.5 %
Operating income - GAAP 0.4 50.2 243.3 279.7
Special items in operating income (Attachment 3) 59.9 11.2 108.7 47.8
Adjusted Operating income $ 60.3 $ 61.4 $ 352.0 $ 327.5
Adjusted Operating income as a percent of sales 7.6 % 7.6 % 10.4 % 9.9 %
The table below reconciles pre-special income tax expense and the pre-special effective tax rate to their most comparable US
GAAP figures.
https://www.avient.com/sites/default/files/2024-02/AVNT Q4 2023 Earnings Press Release.pdf
Each of such adjustments has not yet occurred, are out of the
Company's control and/or cannot be reasonably predicted.
Three Months Ended
December 31,
Year Ended
December 31,
Reconciliation to Consolidated Statements of Income 2023 2022 2023 2022
Sales $ 719.0 $ 790.4 $ 3,142.8 $ 3,396.9
Gross margin - GAAP 208.9 172.0 892.5 882.7
Special items in gross margin (Attachment 3) 17.6 45.5 80.0 81.1
Adjusted gross margin $ 226.5 $ 217.5 $ 972.5 $ 963.8
Adjusted gross margin as a percent of sales 31.5 % 27.5 % 30.9 % 28.4 %
Operating income - GAAP 43.1 0.4 196.8 243.3
Special items in operating income (Attachment 3) 26.1 59.9 116.0 108.7
Adjusted operating income $ 69.2 $ 60.3 $ 312.8 $ 352.0
Adjusted operating income as a percent of sales 9.6 % 7.6 % 10.0 % 10.4 %
The following pro forma adjustments are referenced by management to provide comparable business performance by
incorporating the APM business in periods prior to the acquisition date (September 1, 2022).
https://www.avient.com/news/polyone-collaborates-tenpoint-crossbows-innovate-and-improve-product-performance
PolyOne’s portfolio is specialized and expansive, and their technical support team is fully committed to our goals and success – exactly what you want in a strategic supplier.”
https://www.avient.com/news/polyone-itma-2016-meeting-stringent-environmental-regulations-advanced-fiber-coloring-solutions
This can help brands to obtain deeper insights into what today’s markets demand and how to leverage future trends.”
https://www.avient.com/news/inspiration-innovation-polyone-launches-all-new-website
We know our customers are always looking to online sources to do their jobs better, find solutions faster, and stay on top of what’s next in their industry,” said Cathy K.
https://www.avient.com/news/dyneema-exhibit-functional-fabric-fair-and-reveal-groundbreaking-new-technology
They achieved what may have seemed impossible – improved the performance attributes of the world’s strongest fiber™.
https://www.avient.com/products/long-fiber-technology/long-vs-short-fiber
What is LFT
https://www.avient.com/idea/carbon-fiber-composites
What is Carbon Fiber?
https://www.avient.com/company/sustainability/people/community-service
What we do: Materials Science