8-K

0001193125-22-201616.txt : 20220726 0001193125-22-201616.hdr.sgml : 20220726 20220726092955 ACCESSION NUMBER: 0001193125-22-201616 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20220726 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20220726 DATE AS OF CHANGE: 20220726 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AVIENT CORP CENTRAL INDEX KEY: 0001122976 STANDARD INDUSTRIAL CLASSIFICATION: PLASTICS, MATERIALS, SYNTH RESINS & NONVULCAN ELASTOMERS [2821] IRS NUMBER: 341730488 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-16091 FILM NUMBER: 221105074 BUSINESS ADDRESS: STREET 1: 33587 WALKER ROAD CITY: AVON LAKE STATE: OH ZIP: 44012 BUSINESS PHONE: 440-930-1000 MAIL ADDRESS: STREET 1: 33587 WALKER ROAD CITY: AVON LAKE STATE: OH ZIP: 44012 FORMER COMPANY: FORMER CONFORMED NAME: POLYONE CORP DATE OF NAME CHANGE: 20000830 8-K 1 d324065d8k.htm 8-K 8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 26, 2022

Avient Corporation

(Exact name of registrant as specified in its charter)

Ohio

1-16091

34-1730488

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

Avient Center

33587 Walker Road

Avon Lake, Ohio

44012

(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number, including area code: (440) 930-1000

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading

Symbol(s)

Name of each exchange

on which registered

Common Shares, par value $.01 per share

AVNT

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 7.01

Regulation FD Disclosure.

Avient Corporation, an Ohio corporation (the “Company”), is furnishing as Exhibit 99.1 certain information concerning the Company derived from a confidential preliminary offering memorandum that is being disseminated to potential investors in connection with the proposed offering described in Item 8.01 below. The supplemental information included in the preliminary offering memorandum, certain of which has been previously reported, is set forth in Exhibit 99.1 and incorporated herein by reference. There can be no assurance that the offering will be completed as described in the confidential preliminary offering memorandum or at all.

The information set forth in and incorporated into this Item 7.01 of this Current Report on Form 8-K is being furnished pursuant to Item 7.01 of Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any of the Company’s filings under the Securities Act of 1933 (the “Securities Act”), or the Exchange Act, whether made before or after the date hereof and regardless of any general incorporation language in such filings, except to the extent expressly set forth by specific reference in such a filing. The filing of this Item 7.01 of this Current Report on Form 8-K shall not be deemed an admission as to the materiality of any information herein that is required to be disclosed solely by reason of Regulation FD.

Item 8.01.

Other Events.

On July 26, 2022, the Company announced the commencement of a private offering of $725 million aggregate principal amount of senior notes due 2030 (the “Notes”) in an offering exempt from the registration requirements of the Securities Act. Pursuant to Rule 135c of the Securities Act, the Company is filing herewith the press release issued on July 26, 2022 as Exhibit 99.2.

The Notes have not been registered, and the Company does not plan to register the Notes, under the Securities Act or the securities laws of any jurisdiction. Unless they are registered, the Notes may be offered only in transactions that are exempt from registration under the Securities Act or the securities laws of any jurisdiction.

This Current Report on Form 8-K does not constitute an offer to sell or the solicitation of an offer to buy any securities nor shall there be any sale of the Notes or any other securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction absent an applicable exemption from the registration or qualification requirements. Any offer, solicitation to buy, if at all, will be made only by means of the confidential preliminary offering memorandum.

Item 9.01.

Financial Statements and Exhibits.

Exhibits.


Exhibit Number		Description

99.1		Excerpts from preliminary offering memorandum.

99.2		Press release issued July 26, 2022.

104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


AVIENT CORPORATION

By:		/s/ Lisa K. Kunkle
Name:		Lisa K. Kunkle
Title:		Senior Vice President, General Counsel and Secretary

Date: July 26, 2022

EX-99.1 2 d324065dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

Dyneema Business Update

The Seller has provided preliminary estimated unaudited selected financial results of DSM Protective Materials for its second quarter ended June 30, 2022. Based on information available as of the date of this offering memorandum, the following are preliminary estimates for the quarter ended June 30, 2022:

•

Sales of €95,838;

•

Operating profit of €20,575;

•

EBITDA of €30,051; and

•

Adjusted EBITDA of €31,320.

For additional information about the calculation of EBITDA and Adjusted EBITDA for DSM Protective Materials, see the section titled “Summary—Summary Historical Financial Information of DSM Protective Materials.”

The results for DSM Protective Materials for the quarter ended June 30, 2022 are preliminary and unaudited and represent the most current information available to the Seller’s management. The actual results of DSM Protective Materials may differ from the preliminary results. The preliminary financial information should be read in conjunction with the combined carve-out financial statements of DSM Protective Materials and the related notes thereto included in Exhibit F-1 and Exhibit F-2 to this offering memorandum.

The preliminary results included herein have been prepared by, and are the responsibility of, the Seller’s management. KPMG Accountants N.V., the independent auditors that audited the combined carve-out financial statements of DSM Protective Materials included as Exhibit F-1 to this offering memorandum, has not audited, reviewed, compiled, or performed any procedures with respect to the preliminary financial data for the quarter ended June 30, 2022. Accordingly, KPMG Accountants N.V. does not express an opinion or any other form of assurance with respect thereto.

Summary Historical Financial Information of DSM Protective Materials

The following table sets forth summary financial data as of and for each of the periods indicated. The combined carve-out statement of financial position data as of December 31, 2021 and combined carve-out income statement and combined carve-out cash flow statement data for the year then ended is derived from the audited combined carve-out financial statements of DSM Protective Materials included as Exhibit F-1 to this offering memorandum. The unaudited interim condensed combined carve-out statement of financial position data as of March 31, 2022 and unaudited interim condensed combined carve-out income statement and unaudited interim condensed combined carve-out cash flow statement data for the three months then ended is derived from the unaudited interim condensed combined carve-out financial statements of DSM Protective Materials included as Exhibit F-2 to this offering memorandum. The data set forth below is presented in euros and should be read in conjunction with the combined carve-out financial statements of DSM Protective Materials, the related notes thereto, other financial information included in Exhibit F-1 and Exhibit F-2 to this offering memorandum, and the section titled “Non-GAAP Financial Data” included in this offering memorandum.


	Year Ended December 31,			Three Months Ended March 31,
(in €, thousands)	2021			2022
Combined Carve-Out Income Statement Data:
Sales	€	339,022		€	83,017
Cost of sales		(213,497	)		(48,394	)

Gross margin		125,525			34,623

Marketing and sales expenses		(28,861	)		(8,820	)
Research and development expenses		(14,285	)		(2,681	)
General and administrative expenses		(23,195	)		(6,215	)
Other operating income		3,342			271
Other operating expense		(148	)		—

Operating profit		62,378			17,178

Financial income		143			37
Financial expense		(7,077	)		(1,658	)

Profit before income tax expense		55,444			15,557

Income tax expense		(9,247	)		(2,654	)
Share of the profit of equity accounted investees, net of tax		(63	)		(274	)

Net profit for the year		46,134			12,629

Of which:
-Attributable to non-controlling interests		141			112
-Attributable to the Owner	€	45,993		€	12,517


	As of December 31,		As of March 31,
(in €, thousands)	2021		2022
Combined Carve-Out Statement of Financial Position Data:
Cash and cash equivalents	€	6,170	€	629
Total assets		589,838		613,161
Non-current liabilities		131,362		131,540
Current liabilities		136,551		141,720
Business Equity		321,925		339,901


	Year Ended December 31,			Three Months Ended March 31,
(in €, thousands)	2021			2022
Combined Carve-Out Cash Flow Statement Data:
Cash from / (used in):
Operating activities	€	105,424		€	11,998
Investing activities		(12,616	)		(5,206	)
Financing activities		(89,620	)		(12,395	)


	Year Ended December 31,		Three Months Ended March 31,
(in €, thousands)	2021		2022
Other Financial Data:
EBITDA⁽¹⁾	€	99,984	€	25,691
Adjusted EBITDA⁽¹⁾	€	102,015	€	27,679

(1)

Please see the table below for the reconciliation of EBITDA and Adjusted EBITDA to net income. EBITDA and Adjusted EBITDA have not been historically presented by DSM Protective Materials and have been calculated by Avient’s management.


(in €, thousands)	Year Ended December 31, 2021			Three Months Ended March 31, 2022
Reconciliation of EBITDA and Adjusted EBITDA:
Net income attributable to the Owner	€	45,993		€	12,517
Interest expense, net		6,934			1,658
Depreciation and amortization		37,810			8,862
Income tax expense		9,247			2,654

EBITDA	€	99,984		€	25,691
Legal, restructuring, and other costs^(a)		1,700			200
Acquisition related costs^(b)		300			—
Corporate cost allocations^(c)		6,000			1,900
Other		712			200
GAAP Adjustments^(d)		(6,681	)		(312	)

Adjusted EBITDA	€	102,015		€	27,679

(a)

Reflects litigation costs that arose prior to the commencement of the performance period, employee separation costs resulting from personnel reduction programs and plant realignment costs.

(b)

Reflects non-recurring acquisition related costs, including inventory fair value adjustments.

(c)

Certain corporate allocations were reflected in the audited combined carve-out financial statements of DSM Protective Materials and do not represent ongoing cost for DSM Protective Materials.

(d)

Adjustments include required changes to amounts recorded for inventory provisions, interest expense, and depreciation, in order to conform with GAAP presentation.

Summary Unaudited Pro Forma Condensed Combined Financial Information

The following table presents our summary unaudited pro forma condensed combined financial information for the year ended December 31, 2021 and the three months ended March 31, 2022, giving effect to the Acquisition and related financings. The unaudited pro forma condensed combined financial information was derived from the unaudited pro forma condensed combined financial information included under the section titled “Unaudited Pro Forma Condensed Combined Financial Information” included in this offering memorandum. The summary unaudited pro forma condensed combined financial information is not necessarily indicative of operating results and financial position that would have been achieved had the Acquisition been completed as of January 1, 2021 and does not intend to project Avient’s future financial results after the Acquisition. The summary unaudited pro forma condensed combined financial information should be read in conjunction with our historical combined financial statements incorporated by reference into this offering memorandum, the combined carve-out financial statements of DSM Protective Materials attached as Exhibit F-1 and Exhibit F-2 to this offering memorandum, the unaudited pro forma condensed combined financial information and the notes thereto included under the section titled “Unaudited Pro Forma Condensed Combined Financial Information” included in this offering memorandum, and the section titled “Non-GAAP Financial Data” included in this offering memorandum.


	Pro Forma (unaudited)
	Year Ended December 31,			Three Months Ended March 31,
(in millions)	2021			2022
Pro Forma Combined Statement of Operations Data:
Sales	$	5,220.0		$	1,387.0
Costs of Sales		4,027.9			1,056.8

Gross Margin		1,192.1			330.2
Selling and administrative expenses		837.0			193.0
Operating income		355.1			137.2
Interest expense, net		169.2			38.1
Other expense, net		(2.1	)		(1.0	)

Income from continuing operations before income taxes		183.8			98.1
Income tax expense		(40.5	)		(22.0	)

Net income from continuing operations		143.3			76.1
Net loss (income) attributable to noncontrolling interests		0.1			(0.4	)

Net income from continuing operations attributable to common shareholders	$	143.4		$	75.7


	Pro Forma (unaudited)
(in millions)	As of March 31, 2022
Pro Forma Combined Balance Sheet Data:
Cash and cash equivalents	$	237.7
Working Capital⁽¹⁾		729.7
Total Assets		6,548.9
Total Debt⁽²⁾		3,095.8
Pension and other post-retirement benefits		98.5
Avient shareholders’ equity		1,795.2
Noncontrolling interests		18.4
Total Equity	$	1,813.6

(1)

Working capital is defined as accounts receivable, net plus inventories, net less accounts payable.

(2)

Total debt is shown at principal value.


Other Pro Forma Combined Financial Data:	Year Ended December 31, 2021
Adjusted EBITDA⁽¹⁾	$	701.9
Ratio of Adjusted EBITDA to Interest Expense⁽¹⁾		4.1x
Ratio of Net Debt to Adjusted EBITDA^(1)(2)(3)		4.1x
Ratio of Net Secured Debt to Adjusted EBITDA^(1)(4)(5)		1.2x

(1)

Adjusted EBITDA is reflected in millions. We define EBITDA as earnings before interest, taxes, depreciation and amortization. Adjusted EBITDA is defined as EBITDA adjusted to add back the special items indicated in the table below. EBITDA and Adjusted EBITDA are not measures of performance or liquidity under GAAP, and we caution investors that amounts presented in accordance with our definitions of EBITDA and Adjusted EBITDA may not be comparable to similar measures disclosed by other companies, because not all companies calculate EBITDA and Adjusted EBITDA in the same manner. We present EBITDA because we consider it an important supplemental measure of our performance and believe it is frequently used by securities analysts, investors and other interested parties in the evaluation of companies in our industry. We present Adjusted EBITDA because we believe that it is a further supplemental measure of our performance and liquidity. EBITDA and Adjusted EBITDA should not be considered in isolation or as substitutes for operating income, net income or cash flow statement data prepared in accordance with GAAP. Please see the table below for the reconciliation of EBITDA and Adjusted EBITDA to the comparable GAAP measure of net income.


(in millions)	Year Ended December 31, 2021
Reconciliation of EBITDA and Adjusted EBITDA:
Net income from continuing operations – GAAP	$	143.3
Income tax expense (benefit)		40.5
Interest expense		169.2
Depreciation and amortization from continuing operations		231.4

EBITDA	$	584.4
Environmental remediation costs, net of reimbursements of previously incurred costs^(a)		18.4
Legal, restructuring, and other costs^(b)		20.8
Acquisition related costs^(c)		61.1
Mark-to-market pension and OPEB adjustments^(d)		9.4
Corporate cost allocations^(e)		7.1
Other		0.7

Adjusted EBITDA	$	701.9

(a)

Reflects environmental remediation costs, fines, penalties and related insurance recoveries related to facilities no longer owned or closed in prior years. Insurance reimbursements were $4.5 million for the year ended December 31, 2021.

(b)

Reflects litigation costs that arose prior to the commencement of the performance period, employee separation costs resulting from personnel reduction programs and plant realignment costs.

(c)

Reflects non-recurring acquisition related costs, including inventory fair value adjustments.

(d)

We have elected to immediately recognize actuarial gains and losses, after consideration of inventory capitalization, in our results in the year in which the gains or losses occur related to our pension and other post-retirement benefit plans. A loss of $9.4 million for our mark-to-market pension and OPEB adjustments is reflected within this line for the year ended December 31, 2021.

(e)

Certain corporate allocations were reflected in the combined carve-out financial statements of DSM Protective Materials and do not represent ongoing cost for the Dyneema Business.

(2)

Net Debt is defined as total debt (excluding operating lease obligations and debt not being assumed from the Dyneema Business) less cash and cash equivalents at period end. Pro forma combined cash of $237.7 million as of March 31, 2022 is less than the $338.3 million of “as adjusted” cash and cash equivalents as of June 30, 2022 presented under “Capitalization” due to, among other things, cash provided by operating and investing activities since March 31, 2022.

(3)

For purposes of calculating the ratio of Net Debt to Adjusted EBITDA, Net Debt is determined using principal amount.

(4)

Net Secured Debt is defined as total debt (excluding operating lease obligations and debt not being assumed from the Business) that is secured by a lien on assets, less cash and cash equivalents at period end. Pro forma combined cash of $237.7 million as of March 31, 2022 is less than the $338.3 million of “as adjusted” cash and cash equivalents as of June 30, 2022 presented under “Capitalization” due to, among other things, cash provided by operating and investing activities since March 31, 2022.

(5)

For purposes of calculating the ratio of Net Secured Debt to Adjusted EBITDA, Net Secured Debt is determined using principal amount.

UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL INFORMATION

The following unaudited pro forma condensed combined financial information has been prepared in accordance with Article 11 of Regulation S-X as amended by the final rule, Release No. 33-10786 “Amendments to Financial Disclosures about Acquired and Disposed Businesses.” The unaudited pro forma condensed combined financial information set forth below gives effect to the following:

•

The completion of the Acquisition for an estimated purchase price of $1,492.1 million, which includes cash and cash equivalents acquired of $33.7 million, and

•

The incurrence of additional debt by Avient (the “Debt Financing”) to fund the Acquisition and pay fees and expenses related to the Acquisition, including (i) $500.0 million of expected borrowings under the Senior Secured Term Loan B and (ii) $725.0 million aggregate principal amount of the notes offered hereby.

The unaudited pro forma condensed combined balance sheet as of March 31, 2022, which combines the unaudited consolidated balance sheet of Avient as of March 31, 2022 with the unaudited interim condensed combined carve-out statement of financial position of DSM Protective Materials as of March 31, 2022, gives effect to the Acquisition and the Debt Financing (collectively, the “Transactions”) as if they had been completed on March 31, 2022. The unaudited pro forma condensed combined statements of operations, which combine the historical consolidated statements of operations of Avient and the historical combined carve-out income statements of DSM Protective Materials, give effect to the Transactions as if they occurred on January 1, 2021.

The unaudited pro forma condensed combined financial information is not necessarily indicative of what the combined financial position or results of operations actually would have been had the Transactions been completed as of the dates indicated, nor is it indicative of future results or financial position of the combined company. In addition, the unaudited pro forma condensed combined financial information does not purport to project the future financial position or results of operations of the combined entity. Differences between these preliminary estimates and the final acquisition accounting will likely occur and these differences could be material. The differences, if any, could have a material impact on the unaudited pro forma condensed combined financial information and the Company’s future results of operations and financial position. There were no material transactions between Avient and DSM Protective Materials during the periods presented in the unaudited pro forma condensed combined financial information that would need to be eliminated.

The unaudited pro forma condensed combined financial information has been prepared using the acquisition method of accounting under GAAP, with Avient being the accounting acquirer. The pro forma adjustments are preliminary and based on currently available information and are subject to change. Under the acquisition method, generally all assets acquired and liabilities assumed are recorded at their respective fair values as of the date the acquisition is completed. For pro forma purposes, the fair value of DSM Protective Materials’ tangible and identifiable intangible assets acquired and liabilities assumed are based on a preliminary estimate of fair value as of March 31, 2022. Any excess of the purchase price over the fair value of identified assets acquired and liabilities assumed will be recognized as goodwill. Management believes that the fair values recognized for the assets acquired and liabilities assumed are based on reasonable estimates and assumptions.

The unaudited pro forma condensed combined financial information gives pro forma effect to events that are directly attributable to the Transactions and are factually supportable.

All financial data included in the unaudited condensed combined financial information is presented in millions of U.S. Dollars and has been prepared on the basis of GAAP and Avient’s accounting policies. For the purpose of the pro forma condensed combined financial information, the historical combined carve-out financial information of DSM Protective Materials has been translated from Euro to U.S. Dollars and converted from International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS”) to GAAP and Avient’s accounting policies for material accounting policy differences. The conversion from IFRS to GAAP was based on limited information available to the Company at the time of preparation.

The unaudited pro forma condensed combined financial data presented is for informational purposes only. The unaudited pro forma condensed combined statements of operations do not reflect any anticipated synergies or dis-synergies, operating efficiencies, or cost savings that may result from the Acquisition or any integration costs that may be incurred. The pro forma adjustments, which Avient believes are reasonable under the circumstances, are preliminary and are based upon available information and certain assumptions described in the accompanying notes to the unaudited pro forma condensed combined financial information.

The unaudited pro forma condensed combined financial data should be read together with the audited combined carve-out financial statements of DSM Protective Materials as of and for the year ended December 31, 2021 and the unaudited interim condensed combined carve-out financial statements of DSM Protective Materials as of and for the three months ended March 31, 2022, included as Exhibit F-1 and Exhibit F-2 to this offering memorandum, as well as Avient’s consolidated financial statements and related notes thereto contained in its Annual Report on Form 10-K for the year ended December 31, 2021 and Avient’s Quarterly Reports on Form 10-Q for the quarterly period ended March 31, 2022 and the quarterly period ended June 30, 2022, incorporated herein by reference.

UNAUDITED PRO FORMA CONDENSED COMBINED BALANCE SHEET

As of March 31, 2022

(in millions)


	Avient Historical		DSM Protective Materials Historical As Adjusted (Note 2)		Transaction Accounting Adjustments (Note 4)			Note		Financing Adjustments (Note 4)			Note		Pro Forma Combined
ASSETS
Current assets:
Cash and cash equivalents	$	562.6	$	0.7	$	(1,500.4	)		A,C,H	$	1,174.8			I	$	237.7
Accounts receivable, net		757.9		62.4		—					—					820.3
Inventories, net		475.4		88.3		40.8			B		—					604.5
Other current assets		134.3		223.8		(217.9	)		C		—					140.2

Total current assets		1,930.2		375.2		(1,677.5	)				1,174.8					1,802.7
Property, net		661.9		227.7		63.0			E		—					952.6
Goodwill		1,283.4		49.3		374.5			D		—					1,707.2
Intangible assets, net		904.1		16.1		884.9			D		—					1,805.1
Operating lease assets, net		67.1		7.1		—					—					74.2
Other non-current assets		200.3		6.8		—					—					207.1

Total assets	$	5,047.0	$	682.2	$	(355.1	)			$	1,174.8				$	6,548.9

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Short-term and current portion of long-term debt	$	607.5	$	76.1	$	(76.1	)		C	$	5.0			I	$	612.5
Accounts payable		642.3		52.8		—					—					695.1
Current operating lease obligations		21.7		1.4		—					—					23.1
Accrued expenses and other current liabilities		288.1		27.2		(14.3	)		C,H		—					301.0

Total current liabilities		1,559.6		157.5		(90.4	)				5.0					1,631.7
Non-current liabilities:
Long-term debt		1,250.2		126.8		(126.8	)		C		1,178.8			I		2,429.0
Pension and other post-retirement benefits		98.5		—		—					—					98.5
Deferred income taxes		99.4		4.9		247.2			G		—					351.5
Non-current operating lease obligations		45.9		5.8		—					—					51.7
Other non-current liabilities		164.1		8.8		—					—					172.9

Total non-current liabilities		1,658.1		146.3		120.4					1,178.8					3,103.6
SHAREHOLDERS’ EQUITY
Owner’s net investment		—		376.1		(376.1	)		F		—					—
Avient shareholders’ equity		1,813.2		—		(9.0	)		H		(9.0	)		I		1,795.2
Noncontrolling interest		16.1		2.3		—					—					18.4

Total equity		1,829.3		378.4		(385.1	)				(9.0	)				1,813.6

Total liabilities and equity	$	5,047.0	$	682.2	$	(355.1	)			$	1,174.8				$	6,548.9

See the accompanying notes to the Unaudited Pro Forma Condensed Combined Financial Information

UNAUDITED PRO FORMA CONDENSED COMBINED STATEMENT OF OPERATIONS

For the Three Months Ended March 31, 2022

(in millions, except share and per share data)


	Avient Historical			DSM Protective Materials Historical As Adjusted (Note 2)			Transaction Accounting Adjustments (Note 5)			Note		Financing Adjustments (Note 5)			Note		Pro Forma Combined
Sales	$	1,293.8		$	93.2		$	—				$	—				$	1,387.0
Cost of sales		1,000.1			54.3			2.4			B		—					1,056.8

Gross margin		293.7			38.9			(2.4	)				—					330.2

Selling and administrative expense		165.1			19.6			8.3			B		—					193.0

Operating income		128.6			19.3			(10.7	)				—					137.2

Interest expense, net		(16.9	)		(1.9	)		1.9			D		(21.2	)		G		(38.1	)
Other expense, net		(0.6	)		(0.4	)		—					—					(1.0	)

Income before income taxes		111.1			17.0			(8.8	)				(21.2	)				98.1
Income tax expense		(26.6	)		(2.9	)		2.2			F		5.3			I		(22.0	)

Net income		84.5			14.1			(6.6	)				(15.9	)				76.1
Net (income) loss attributable to noncontrolling interests		(0.3	)		(0.1	)		—					—					(0.4	)

Net income attributable to Avient common shareholders	$	84.2		$	14.0		$	(6.6	)			$	(15.9	)			$	75.7

UNAUDITED PRO FORMA CONDENSED COMBINED STATEMENT OF OPERATIONS

For the Year Ended December 31, 2021

(in millions, except share and per share data)


	Avient Historical			DSM Protective Materials Historical As Adjusted (Note 2)			Transaction Accounting Adjustments (Note 5)			Note		Financing Adjustments (Note 5)			Note		Pro Forma Combined
Sales	$	4,818.8		$	401.2		$	—				$	—				$	5,220.0
Cost of sales		3,719.2			258.5			50.2			B,C		—					4,027.9

Gross margin		1,099.6			142.7			(50.2	)				—					1,192.1

Selling and administrative expense		718.4			74.8			43.8			A,B,E		—					837.0

Operating income		381.2			67.9			(94.0	)				—					355.1

Interest expense, net		(75.3	)		(7.6	)		7.6			D		(93.9	)		G,H		(169.2	)
Other expense, net		(1.3	)		(0.8	)		—					—					(2.1	)

Income from continuing operations before income taxes		304.6			59.5			(86.4	)				(93.9	)				183.8
Income tax expense		(74.0	)		(9.4	)		19.4			F		23.5			I		(40.5	)

Net income		230.6			50.1			(67.0	)				(70.4	)				143.3
Net (income) loss attributable to noncontrolling interests		0.2			(0.1	)		—					—					0.1

Net income attributable to Avient common shareholders	$	230.8		$	50.0		$	(67.0	)			$	(70.4	)			$	143.4

See the accompanying notes to the Unaudited Pro Forma Condensed Combined Financial Information.

Notes to the Unaudited Pro Forma Condensed Combined Financial Information

Note 1 - Basis of Presentation

The unaudited pro forma condensed combined financial information and related notes are prepared in accordance with Article 11 of Regulation S-X as amended by the final rule, Release No. 33-10786 “Amendments to Financial Disclosures about Acquired and Disposed Businesses”. The unaudited pro forma condensed combined financial information set forth below gives effect to the following:

•

The completion of the acquisition of the Dyneema Business by Avient for an estimated purchase price of $1,492.1 million, which includes cash and cash equivalents acquired of $33.7 million, and

•

The incurrence of additional debt by Avient to fund the Acquisition and pay fees and expenses related to the Acquisition, including (i) $500.0 million of expected borrowings under the Senior Secured Term Loan B and (ii) $725.0 million aggregate principal amount of the notes offered hereby.

Avient’s and DSM Protective Materials’ historical financial statements were prepared in accordance with GAAP and IFRS, respectively. For the purpose of the unaudited pro forma condensed combined financial information, the historical combined carve-out financial information of DSM Protective Materials has been translated from Euro to U.S. Dollars and converted from IFRS as issued by the International Accounting Standards Board, to GAAP and Avient’s accounting policies for material accounting policy differences. The conversion from IFRS to GAAP was based on limited information available to the Company at the time of preparation.

As discussed in Note 2, certain reclassifications were made to align Avient’s and DSM Protective Materials’ financial statement presentation. Avient is currently in the process of evaluating DSM Protective Materials’ accounting policies, which will be finalized upon completion of the Acquisition, or as more information becomes available. As a result of that review, additional differences could be identified in the accounting policies of the two companies, and those differences could have a material impact on the consolidated financial statements of the combined company.

In connection with the Acquisition, we executed additional cross currency swaps (maturing in April 2028), pursuant to which we will pay fixed-rate interest in euros and receive fixed-rate interest in U.S. dollars with a combined notional amount of €900 million. We also entered into foreign currency forward contracts with an aggregate notional amount of €350 million, which are scheduled to mature within one year. Future changes in the fair value of these cross currency swaps and the forward contracts are not reflected in the unaudited pro forma condensed combined financial information as they are not estimable.

The unaudited pro forma condensed combined financial information was prepared using the acquisition method of accounting in accordance with Accounting Standards Codification (“ASC”) 805, with Avient as the accounting acquirer, using the fair value concepts defined in ASC Topic 820, “Fair Value Measurement”, and based on the historical consolidated financial statements of Avient and the combined carve-out financial statements of DSM Protective Materials. Under ASC 805, all assets acquired and liabilities assumed in a business combination are recognized and measured at their assumed acquisition date fair value, while transaction costs associated with the business combination are expensed as incurred. The excess of consideration over the estimated fair value of assets acquired and liabilities assumed, if any, is allocated to goodwill.

The allocation of the aggregate consideration depends upon certain estimates and assumptions, all of which are preliminary. The allocation of the aggregate consideration has been made for the purpose of developing the unaudited pro forma condensed combined financial information. The final determination of fair values of assets acquired and liabilities assumed relating to the Acquisition could differ materially from the preliminary allocation of the purchase consideration. The final valuation will be based on the actual net tangible and intangible assets of DSM Protective Materials existing at the acquisition date.

The unaudited pro forma condensed combined balance sheet, as of March 31, 2022, the unaudited pro forma condensed combined statement of operations for the year ended December 31, 2021 and the unaudited pro forma condensed combined statement of operations for the three months ended March 31, 2022 presented herein, are based

on the historical financial statements of Avient and DSM Protective Materials. The Unaudited Pro Forma Condensed Combined Balance Sheet as of March 31, 2022 is presented as if the Transactions had been completed on March 31, 2022 and combines the unaudited consolidated balance sheet of Avient as of March 31, 2022 with the unaudited interim condensed combined carve-out statement of financial position of DSM Protective Materials as of March 31, 2022. The Unaudited Pro Forma Condensed Combined Statements of Operations have been prepared as if the Transactions had occurred on January 1, 2021.

The unaudited pro forma condensed combined financial information does not reflect any anticipated synergies or dis-synergies, operating efficiencies or cost savings that may result from the Acquisition or integration costs that may be incurred. The pro forma adjustments represent Avient’s best estimates and are based upon currently available information and certain assumptions that Avient believes are reasonable under the circumstances. Avient is not aware of any material transactions between Avient and DSM Protective Materials during the periods presented. Accordingly, adjustments to eliminate transactions between Avient and DSM Protective Materials have not been reflected in the unaudited pro forma condensed combined financial information.

Note 2 – Adjustments to Historical DSM Protective Materials Amounts

The historical combined carve-out financial statements of DSM Protective Materials were prepared in accordance with IFRS and reported in Euros. The historical combined financial information of DSM Protective Materials has been converted from IFRS to GAAP, applying Avient’s accounting policies for material accounting policy differences. The accounting policy differences identified are based on information available at the time of preparation. Following the Acquisition, the Company intends to finalize its review of accounting policy and classification differences, which may differ materially from the amounts set forth in the unaudited pro forma condensed combined financial information presented herein.

Refer to the table below for a preliminary reconciliation of the historical combined carve-out financial information of DSM Protective Materials from IFRS to GAAP and using Avient’s accounting policies and translated into U.S. Dollars. The amounts included in the table below may differ slightly from the historical combined carve-out financial statements of DSM Protective Materials due to rounding.

DSM Protective Materials

Interim Condensed Combined Balance Sheet

As of March 31, 2022

(in millions)


DSM Protective Materials Financial Statement Line	Avient Financial Statement Line	IFRS (EUR) (A)		IFRS (USD) (B)		Adjustments (C)			Note		DSM Protective Materials Historical As Adjusted
Assets
	Current assets:
Cash and cash equivalents	Cash and cash equivalents	€	0.6	$	0.7	$					$	0.7
Trade receivables	Accounts receivable, net		56.1		62.4							62.4
Inventories	Inventories, net		79.4		88.3							88.3
Income tax receivables			0.6		0.7		(0.7	)		i		—
Other current receivables			200.5		223.1		(223.1	)		i		—
	Other current assets		—		—		223.8			i		223.8

Current assets	Total current assets		337.2		375.2		—					375.2
Property, plant and equipment	Property, net		211.0		234.8		(7.1	)		ii		227.7
	Goodwill						49.3			iii		49.3
Intangible assets & goodwill	Intangible assets, net		58.8		65.4		(49.3	)		iii		16.1
	Operating lease assets, net						7.1			ii		7.1
	Other non-current assets						3.2			iv		6.8
							3.6			v
Deferred tax assets			3.2		3.6		(3.6	)		v		—
Equity accounted investees			2.8		3.1		(3.1	)		iv		—
Other financial assets			0.1		0.1		(0.1	)		iv		—

Non-current assets			275.9		307.0		—					307.0

Total	Total assets	€	613.1	$	682.2	$	—				$	682.2

Equity and liabilities	LIABILITIES AND SHAREHOLDERS’ EQUITY
	Current liabilities:
Borrowings	Short-term and current portion of long-term debt	€	69.7	$	77.5	$	(1.4	)		ii	$	76.1
Trade payables	Accounts payable		47.5		52.8							52.8
	Current operating lease obligations						1.4			ii		1.4
Other current liabilities	Accrued expenses and other current liabilities		13.7		15.2		12.0			vi		27.2
Income tax payables			10.8		12.0		(12.0	)		vi

Current liabilities	Total current liabilities		141.7		157.5		—					157.5


	Non-current liabilities:
Borrowings	Long-term debt		119.2		132.6		(5.8	)	ii		126.8
Deferred tax liabilities	Deferred income taxes		4.4		4.9						4.9
	Non-current operating lease obligations						5.8		ii		5.8
Other non-current liabilities	Other non-current liabilities		7.9		8.8		—				8.8

Non-current liabilities	Total non-current liabilities		131.5		146.3		—				146.3
	SHAREHOLDERS’ EQUITY
Owner’s net investment			337.8		376.1						376.1
	Avient shareholders’ equity										—

Non-controlling interests	Noncontrolling interest		2.1		2.3						2.3
Business Equity	Total equity		339.9		378.4						378.4

Total	Total liabilities and equity	€	613.1	$	682.2	$	—			$	682.2

DSM Protective Materials

Interim Condensed Combined Income Statement

For the Three Months Ended March 31, 2022

(in millions)


DSM Protective Materials Financial Statement Line	Avient Financial Statement Line	IFRS (EUR) (A)			IFRS (USD) (B)			Adjustments (D)			Note		DSM Protective Materials Historical As Adjusted
Sales	Sales	€	83.0		$	93.2		$					$	93.2
Cost of sales	Cost of sales		48.4			54.3			—					54.3

Gross margin	Gross margin		34.6			38.9			—					38.9

General and administrative expenses	Selling and administrative expense		6.2			7.0			12.6			i		19.6
Marketing and sales expenses			8.8			9.9			(9.9	)		i		—
Research and development expenses			2.7			3.0			(3.0	)		i		—
Other operating income			(0.3	)		(0.3	)		0.3			i		—

Operating profit	Operating income		17.2			19.3			—					19.3

	Interest expense, net								(1.9	)		iii		(1.9	)
	Other (expense) income, net								(0.4	)		iv		(0.4	)
Financial expense, net			(1.7	)		(1.9	)		1.9			iii		—

Profit before income tax expense	Income before income taxes		15.5			17.4			(0.4	)				17.0
Income tax expense	Income tax expense		(2.7	)		(3.0	)		0.1			iv		(2.9	)
Share of the profit of equity accounted investees, net of tax			(0.3	)		(0.3	)		0.3			iv		—

Net profit for the year	Net income		12.5			14.1			0.0					14.1
- Attributable to the non-controlling interests	Net income attributable to noncontrolling interests		(0.1	)		(0.1	)		—					(0.1	)

- Available to the Owner	Net income attributable to Avient common shareholders	€	12.4		$	14.0		$	0.0					14.0

DSM Protective Materials

Combined Income Statement

For the Year Ended December 31, 2021

(in millions)


DSM Protective Materials Financial Statement Line	Avient Financial Statement Line	IFRS (EUR) (A)			IFRS (USD) (B)			Adjustments (D)			Note		DSM Protective Materials Historical As Adjusted
Sales	Sales	€	339.0		$	401.2		$					$	401.2
Cost of sales	Cost of sales		213.5			252.7			5.8			v		258.5

Gross margin	Gross margin		125.5			148.5			(5.8	)				142.7

General and administrative expenses	Selling and administrative expense		23.2			27.5			47.3			i		74.8
Marketing and sales expenses			28.9			34.2			(34.2	)		i		—
Research and development expenses			14.3			16.9			(16.9	)		i		—
Other operating expense			0.1			0.1			(0.1	)		i		—
Other operating income			(3.3	)		(3.9	)		3.9			i		—

Operating profit	Operating income		62.3			73.7			(5.8	)				67.9

	Interest expense, net								(7.6	)		iii		(7.6	)
	Other (expense) income, net								(0.7	)		ii		(0.8	)
									(0.1	)		iv
Financial income			0.1			0.1			(0.1	)		ii		—
Financial expense			(7.1	)		(8.4	)		0.8			ii		—
									7.6			iii

Profit before income tax expense	Income before income taxes		55.3			65.4			(5.9	)				59.5
Income tax expense	Income tax expense		(9.2	)		(10.9	)		1.5			v		(9.4	)
Share of the profit of equity accounted investees, net of tax			(0.1	)		(0.1	)		0.1			iv		—

Net profit for the year	Net income		46.0			54.4			(4.3	)				50.1
- Attributable to the non-controlling interests	Net loss (income) attributable to noncontrolling interests		(0.1	)		(0.1	)							(0.1	)

- Available to the Owner	Net income attributable to Avient common shareholders	€	45.9		$	54.3		$	(4.3	)			$	50.0

(A)

Represents the historical unaudited interim condensed combined carve-out statement of financial position of DSM Protective Materials as of March 31, 2022, the historical unaudited interim condensed combined carve-out income statement of DSM Protective Materials for the three months ended March 31, 2022, and the historical combined carve-out income statement of DSM Protective Materials for the year ended December 31, 2021, which are derived from the combined carve-out financial statements of DSM Protective Materials as of and for the year ended December 31, 2021 and the unaudited interim condensed combined carve-out financial statements of DSM Protective Materials (as of and for the three months ended March 31, 2022), which are included as Exhibit F-1 and Exhibit F-2, respectively, to this offering memorandum.

(B)	Euro amounts are converted to U.S. Dollars (“*USD”) from Euros (“EUR*”) at following exchange rates:


	Exchange Rate (USD / EUR)
Unaudited Pro Forma Condensed Combined Balance Sheet	$	1.1126	⁽ⁱ⁾
Unaudited Pro Forma Condensed Combined Statement of Operations for the Three Months Ended March 31, 2022		1.1227	⁽ⁱⁱ⁾
Unaudited Pro Forma Condensed Combined Statement of Operations for the Year Ended December 31, 2021		1.1834	⁽ⁱⁱⁱ⁾

(i)

Exchange rate as of March 31, 2022

(ii)

Average exchange rate during the three months ended March 31, 2022

(iii)

Average exchange rate during the year ended December 31, 2021

(C)	Reflects adjustments to the historical unaudited interim condensed combined carve-out statement of financial position of DSM Protective Materials to conform its presentation with Avient’s accounting policies in accordance with GAAP.

Reclassification of income tax receivables and other current receivables to other current assets.

ii)

Reclassification of right-of-use lease assets from property, net to operating lease assets, net, and lease liabilities from borrowings to current operating lease obligations and non-current operating lease obligations.

iii)

Reclassification of DSM Protective Materials’ historical goodwill from intangible assets and goodwill to goodwill.

iv)

Reclassification of equity accounted investees and other financial assets to other non-current assets.

Reclassification of deferred tax assets to other non-current assets.

vi)

Reclassification of income taxes payable to accrued expenses and other current liabilities.

(D)	Reflects adjustments to the historical combined carve-out income statement of DSM Protective Materials to conform its presentation to Avient’s accounting policies in accordance with GAAP.

Reclassification of marketing and sales expenses, research and development expenses, other operating income, and other operating expense to selling and administrative expense.

ii)

Reclassification of financial income and financial expense to other (expense) income, net.

iii)

Reclassification of interest expenses from financial expense to interest expense, net.

iv)

Reclassification of share of the profit of equity accounted for investees to other (expense) income, net.

Reflects an adjustment to eliminate reversals of impairments recorded by DSM Protective Materials for inventory and the associated impact to income tax expense, as these reversals are not recorded under GAAP.

Note 3 – Purchase Price Allocation

The total estimated purchase consideration to be paid to the Seller pursuant to the Purchase Agreement is estimated to be €1,462.6 million ($1,492.1 million), inclusive of estimated closing adjustments and payable in Euros.

The table below reflects the sources and uses of funds relating to the Acquisition.


(in millions)	Amount (USD)		Notes
Sources:
Issuance of notes in this offering	$	725.0		i
Senior Secured Term Loan B		500.0		ii
Cash on hand		328.6		iii

	$	1,553.6

Uses:
Purchase consideration	$	1,492.1
Total estimated remaining transaction fees, costs, and expenses		61.5		iv

	$	1,553.6

Reflects anticipated gross proceeds from the issuance of the notes in this offering.

ii)

Reflects expected principal amount of borrowings under the Senior Secured Term Loan B.

iii)

Represents the portion of cash on hand as of March 31, 2022 that will be used to fund the Acquisition, including the payment of related fees and expenses.

iv)

Reflects the total estimated transaction fees, costs, and expenses not yet paid as of March 31, 2022, including cash expected to be paid for issuance costs related to the Debt Financing (including the OID on the Senior Secured Term Loan B), a non-refundable commitment fee paid related to the Bridge Facility, and other acquisition costs incurred by the Company for investment banking, legal costs, consultant fees, independent accountants, and other external costs related to the Acquisition.

The preliminary estimated purchase price may differ significantly from the amounts presented herein for several reasons, including the date of closing of the Acquisition and changes in foreign exchange rates. Based on the terms of the Purchase Agreement, the cash consideration paid by the Company shall increase due to delays in the closing date. The preliminary estimated purchase price assumes a closing date of September 1, 2022. The preliminary estimated purchase price assumes an exchange rate of $1.0202 USD/EUR, the rate in effect as of July 21, 2022.

The table below represents a preliminary allocation of the estimated total purchase consideration to the tangible and intangible assets acquired and liabilities assumed based on Avient’s preliminary estimates of their respective fair values as of March 31, 2022. The final allocation will be determined at a later date and is dependent on a number of factors, including the final evaluation of the fair value of the DSM Protective Materials’ tangible and identifiable intangible assets to be acquired and liabilities to be assumed. Such final adjustments may be material.


(in millions)
Cash and cash equivalents	$	33.7
Accounts receivable		62.4
Inventories		129.1
Other current assets		5.9
Property, plant, and equipment		290.7
Goodwill		423.8
Intangible assets		901.0
Operating lease assets		7.1
Other non-current assets		6.8
Short-term and current portion of long-term debt		18.7
Accounts payable		52.8
Current operating lease obligation		1.4
Accrued expenses and other current liabilities		26.5
Deferred income taxes		252.1
Operating lease obligations		5.8
Other non-current liabilities		8.8
Noncontrolling interest		2.3

Total Estimated Purchase Consideration	$	1,492.1

The intangible assets, which are recognized at their preliminary fair value in the unaudited pro forma condensed combined balance sheet, consist of the following:


(in millions)	Estimated Useful Life	Amount
Indefinite-lived Trade Name	Indefinite	$	307.1
Definite-lived Trade Name	20 years		0.9
Developed Technology	20 years		303.7
Customer Relationships	18 years		289.3

Total Fair Value			901.0
Less: Historical intangible assets of DSM Protective Materials			(16.1	)

Pro Forma adjustment		$	884.9

Note 4 – Adjustments to the Unaudited Pro Forma Condensed Combined Balance Sheet

Transaction Accounting Adjustments

(A) Reflects adjustment to cash and cash equivalents for the payment of the estimated purchase consideration of $1,492.1 million, cash contributed from the net settlement of historical intercompany accounts of DSM Protective Materials (Refer to Note 4(C) below), and the transaction expenses not yet incurred (Refer to Note 4(H) below).

The unaudited pro forma condensed combined balance sheet reflects the following movements in cash and cash equivalents:


(in millions)	Cash and cash equivalents
Historical account balances
Historical balance of Avient	$	562.6
Historical balance of DSM Protective Materials		0.7

		563.3
Transaction accounting adjustment activity
Payment of estimated purchase consideration		(1,492.1	)	Refer to Note 4(A)
Net settlement of DSM Protective Materials’ intercompany accounts		3.0		Refer to Note 4(C)
Payment of transaction expenses		(11.3	)	Refer to Note 4(H)

		(1,500.4	)
Financing adjustment activity		1,174.8		Refer to Note 4(I)

Pro forma cash and cash equivalents	$	237.7

(B) Represents an increase in the carrying value of DSM Protective Materials inventory to its estimated acquisition-date fair value.

(C) Represents the settlement of intercompany receivable and payable balances between DSM Protective Materials and the Seller related to cash pooling arrangements, income tax payables (net), and debt. In advance of closing, the Seller intends to settle most of these intercompany balances. In accordance with the Purchase Agreement, the Seller shall provide funding for the settlement of any unsettled intercompany amounts upon closing, and Avient shall then fund for the repayment of such balances.

Based on DSM Protective Materials account balances as of March 31, 2022, the unaudited pro forma condensed combined balance sheet reflects the following settlement activity:


(in millions)	Cash and cash equivalents			Other current assets			Short-term and current portion of long-term debt			Accrued expenses and other current liabilities			Long-term debt
Amounts settled by Seller prior to closing
Settle cash pool receivables and payables to Seller		206.0			(217.2	)		(11.2	)		—			—
Settle tax receivables and tax payables to Seller		—			(0.7	)		—			(0.7	)		—
Settle debt to Seller		(173.0	)		—			(46.2	)		—			(126.8	)

		33.0			(217.9	)		(57.4	)		(0.7	)		(126.8	)
Amounts Settled by Avient
Settle cash pool payables to Seller		(18.7	)		—			(18.7	)		—			—
Settle tax payables to Seller		(11.3	)		—			—			(11.3	)		—

		(30.0	)		—			(18.7	)		(11.3	)		—

Pro forma adjustment		3.0			(217.9	)		(76.1	)		(12.0	)		(126.8	)

(D) Represents the incremental fair value recognized for intangible assets acquired by Avient, as well as an adjustment to reflect the total goodwill from the Acquisition. Refer to Note 3 for additional detail regarding the intangible assets acquired.

(E) Represents incremental fair value recognized for plant and equipment acquired by Avient.

(F) Represents the elimination of DSM Protective Materials’ historical equity balances.

(G) Adjustments reflect accounting for the deferred income tax effects of the purchase accounting adjustments using an estimated statutory tax rate of 25.0%.

(H) Reflects the payment and estimated acquisition costs of $11.3 million, of which $2.3 million were incurred and accrued as of March 31, 2022. Acquisition costs of $9.0 million expected to be incurred after March 31, 2022 are reflected as a reduction to retained earnings. Acquisition costs consist of legal advisory, financial advisory, accounting and consulting costs.

Financing Adjustments

(I) Represents gross proceeds from the issuance of notes in this offering of $725.0 million and expected borrowings under the Senior Secured Term Loan B of $500.0 million, net of $50.2 million in financing-related transaction costs (of which $41.2 million is directly attributable to the Debt Financing). The Debt Financing results in an increase to short-term and current portion of long-term debt of $5.0 million and long-term debt of $1,178.0 million. Transaction costs not directly attributable to the Debt Financing are expensed, resulting in a $9.0 million decrease to Avient’s shareholders’ equity.

Note 5 – Adjustments to the Unaudited Pro Forma Condensed Combined Statements of Income

Transaction Accounting Adjustments

(A) In connection with the Acquisition, the combined Company expects to incur $11.3 million of transaction expenses, of which $2.3 million were incurred during the three months ended March 31, 2022. Unrecognized costs of $9.0 million are reflected as an increase to selling and administrative expenses during the year ended December 31, 2021.

(B) Represents incremental cost of sales and selling and administrative expenses of $9.4 million and $32.8 million, respectively, during the year ended December 31, 2021 related to added amortization and depreciation expense associated with plant and equipment and intangible assets acquired in the Acquisition. Added depreciation and amortization expense results in an increase to cost of sales and selling and administrative expenses of $2.4 million and $8.3 million, respectively, during the three months ended March 31, 2022.

(D) Reflects the elimination of interest expense associated with DSM Protective Materials’ historical intercompany debt balances with the Seller, which are settled upon closing.

(E) Reflects the payment of retention bonuses to employees of DSM Protective Materials related to services performed in the first six months following closing of the Acquisition.

(F) Reflects a reduction in income tax expense associated with the transaction accounting adjustments, assuming a statutory tax rate of 25.0%.

Financing Adjustments

(G) Represents incremental interest expense associated with the Debt Financing. The unaudited pro forma financial information assumes an estimated interest rate of 6.54% for the Debt Financing. If the actual annual interest rates of the Senior Secured Term Loan B and the notes were to vary by 1/8th of a percent, the pro forma adjustment for interest expense would change by $0.6 million and $0.9 million, respectively, for the year ended December 31, 2021 and $0.2 million and $0.2 million for the three months ended March 31, 2022, respectively.

(H) Represents commitment fees of $9.0 million incurred by the Company in connection with the Bridge Facility, which are reflected in the year ended December 31, 2021 in the unaudited pro forma condensed combined statement of operations.

(I) Reflects a reduction to income tax expense associated with the incremental interest expense from the financing adjustments, assuming a statutory tax rate of 25.0%.

EX-99.2 3 d324065dex992.htm EX-99.2 EX-99.2

Exhibit 99.2

LOGO

NEWS RELEASE

FOR IMMEDIATE RELEASE

Avient Announces Commencement of $725 Million Senior Notes Offering

CLEVELAND, July 26, 2022 – Avient Corporation (NYSE: AVNT) (“Avient”) today announced the commencement of an offering of $725 million in aggregate principal amount of senior notes due 2030 (the “notes”) in an offering exempt from the registration requirements of the Securities Act of 1933 (the “Securities Act”).

Avient intends to use the net proceeds from the offering to finance a portion of the consideration for its pending acquisition from Koninklijke DSM N.V. (“Royal DSM”) of (a) all of the equity of DSM Protective Materials International B.V., DSM Protective Materials B.V., and DSM Protective Materials LLC, and (b) certain other assets related to Royal DSM’s protective materials business (including the Dyneema^® Brand) (such equity and assets together, the “Dyneema Business,” and such acquisition, the “Acquisition”). The net proceeds will also fund, in part, the payment of expenses related to the Acquisition.

The closing of the offering is expected to occur prior to, and is not conditioned upon, the consummation of the Acquisition. The notes will be subject to a “special mandatory redemption” if (i) the Acquisition is not consummated on or prior to April 19, 2023 or (ii) prior to April 19, 2023, the purchase agreement is terminated, other than in connection with the consummation of the Acquisition, and is not otherwise amended or replaced. If a special mandatory redemption event occurs, Avient will be required to redeem the notes at the “special mandatory redemption price” equal to 100% of the aggregate principal amount thereof together with accrued and unpaid interest, if any, on the notes from the date of initial issuance or the last date on which interest has been paid up to, but not including, the special mandatory redemption date.

The notes will be offered only to persons believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act and outside the United States to non-U.S. persons in reliance on Regulation S of the Securities Act. The notes will not be and have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Avient

Avient Corporation (NYSE: AVNT) provides specialized and sustainable material solutions that transform customer challenges into opportunities, bringing new products to life for a better world. Avient’s products include specialty engineered materials, advanced composites, color and additive systems and polymer distribution. Avient is also a highly specialized developer and manufacturer of performance enhancing additives, liquid colorants and fluoropolymer and silicone colorants.

Forward-Looking Statements

In this press release, statements that are not reported financial results or other historical information are “forward looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements give current expectations or forecasts of future events and are not guarantees of future performance. They are based on management’s expectations that involve a number of business risks and uncertainties, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. They use words such as “will,” “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” and other words and terms of similar meaning in connection with any discussion of future operating or financial condition, performance and/or sales. Factors that could cause actual results to differ materially from those implied by these forward-looking statements include, but are not limited to: disruptions, uncertainty or volatility in the credit markets that could adversely impact the availability of credit already arranged and the availability and cost of credit in the future; the effect on foreign operations of currency fluctuations, tariffs and other political, economic and regulatory risks, including recessionary conditions; the current and potential future impact of the COVID-19 pandemic on our business, results of operations, financial position or cash flows, including without limitation, any supply chain and logistics issues; changes in polymer consumption growth rates and laws and regulations regarding plastics in jurisdictions where we conduct business; fluctuations in raw material prices, quality and supply, and in energy prices and supply; production outages or material costs associated with scheduled or unscheduled maintenance programs; unanticipated developments that could occur with respect to contingencies such as litigation and environmental matters; our ability to pay regular quarterly cash dividends and the amounts and timing of any future dividends; information systems failures and cyberattacks; amounts for cash and non-cash charges related to restructuring plans that may differ from original estimates, including because of timing changes associated with the underlying actions; any material adverse changes in the Dyneema Business; our ability to achieve the strategic and other objectives relating to the Acquisition and the possible sale of the Distribution business segment; and other factors described in our Annual Report on Form 10-K for the year ended December 31, 2021 under Item 1A, “Risk Factors.” The above list of factors is not exhaustive.

We undertake no obligation to publicly update forward-looking statements, whether as a result of new information, future events or otherwise. You are advised to consult any further disclosures we make on related subjects in our reports on Form 10-Q, 8-K and 10-K that we provide to the Securities and Exchange Commission.

# # #

Investor Relations Contact:

Giuseppe (Joe) Di Salvo

Vice President, Treasurer and Investor Relations

Avient Corporation

+1 440-930-1921

giuseppe.disalvo@avient.com

Media Contact:

Kyle G. Rose

Vice President, Corporate Communications

Avient Corporation

+1 440-930-3162

kyle.rose@avient.com

EX-101.SCH 4 avnt-20220726.xsd XBRL TAXONOMY EXTENSION SCHEMA 100000 - Document - Document and Entity Information link:calculationLink link:presentationLink link:definitionLink EX-101.LAB 5 avnt-20220726_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE Cover [Abstract] Cover [Abstract] Entity Registrant Name Entity Registrant Name Amendment Flag Amendment Flag Entity Central Index Key Entity Central Index Key Document Type Document Type Document Period End Date Document Period End Date Entity Incorporation State Country Code Entity Incorporation State Country Code Entity File Number Entity File Number Entity Tax Identification Number Entity Tax Identification Number Entity Address, Address Line One Entity Address, Address Line One Entity Address, Address Line Two Entity Address, Address Line Two Entity Address, City or Town Entity Address, City or Town Entity Address, State or Province Entity Address, State or Province Entity Address, Postal Zip Code Entity Address, Postal Zip Code City Area Code City Area Code Local Phone Number Local Phone Number Written Communications Written Communications Soliciting Material Soliciting Material Pre Commencement Tender Offer Pre Commencement Tender Offer Pre Commencement Issuer Tender Offer Pre Commencement Issuer Tender Offer Security 12b Title Security 12b Title Trading Symbol Trading Symbol Security Exchange Name Security Exchange Name Entity Emerging Growth Company Entity Emerging Growth Company EX-101.PRE 6 avnt-20220726_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE GRAPHIC 7 g324065g0725115235848.jpg GRAPHIC begin 644 g324065g0725115235848.jpg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end XML 8 R1.htm IDEA: XBRL DOCUMENT

Document and Entity Information	Jul. 26, 2022
Cover [Abstract]
Entity Registrant Name	AVIENT CORP
Amendment Flag	false
Entity Central Index Key	0001122976
Document Type	8-K
Document Period End Date	Jul. 26, 2022
Entity Incorporation State Country Code	OH
Entity File Number	1-16091
Entity Tax Identification Number	34-1730488
Entity Address, Address Line One	Avient Center
Entity Address, Address Line Two	33587 Walker Road
Entity Address, City or Town	Avon Lake
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	44012
City Area Code	440
Local Phone Number	930-1000
Written Communications	false
Soliciting Material	false
Pre Commencement Tender Offer	false
Pre Commencement Issuer Tender Offer	false
Security 12b Title	Common Shares, par value $.01 per share
Trading Symbol	AVNT
Security Exchange Name	NYSE
Entity Emerging Growth Company	false

XML 9 d324065d8k_htm.xml IDEA: XBRL DOCUMENT 0001122976 2022-07-26 2022-07-26 AVIENT CORP false 0001122976 8-K 2022-07-26 OH 1-16091 34-1730488 Avient Center 33587 Walker Road Avon Lake OH 44012 440 930-1000 false false false false Common Shares, par value $.01 per share AVNT NYSE false EXCEL 10 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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end XML 11 Show.js IDEA: XBRL DOCUMENT // Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission. Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105. var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0); e.removeAttribute('id');a.parentNode.appendChild(e)}} if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'} e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}} XML 12 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 13 FilingSummary.xml IDEA: XBRL DOCUMENT 3.22.2 html 1 23 1 false 0 0 false 0 false false R1.htm 100000 - Document - Document and Entity Information Sheet http://www.avient.com//20220726/taxonomy/role/DocumentDocumentAndEntityInformation Document and Entity Information Cover 1 false false All Reports Book All Reports d324065d8k.htm avnt-20220726.xsd avnt-20220726_lab.xml avnt-20220726_pre.xml d324065dex991.htm d324065dex992.htm http://xbrl.sec.gov/dei/2021 true false JSON 16 MetaLinks.json IDEA: XBRL DOCUMENT { "instance": { "d324065d8k.htm": { "axisCustom": 0, "axisStandard": 0, "contextCount": 1, "dts": { "inline": { "local": [ "d324065d8k.htm" ] }, "labelLink": { "local": [ "avnt-20220726_lab.xml" ] }, "presentationLink": { "local": [ "avnt-20220726_pre.xml" ] }, "schema": { "local": [ "avnt-20220726.xsd" ], "remote": [ "http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd", "http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd", "http://www.xbrl.org/2003/xl-2003-12-31.xsd", "http://www.xbrl.org/2003/xlink-2003-12-31.xsd", "http://www.xbrl.org/2005/xbrldt-2005.xsd", "http://www.xbrl.org/dtr/type/nonNumeric-2009-12-16.xsd", "http://www.xbrl.org/dtr/type/numeric-2009-12-16.xsd", "https://www.xbrl.org/dtr/type/2020-01-21/types.xsd", "https://xbrl.sec.gov/dei/2021/dei-2021.xsd", "https://xbrl.sec.gov/naics/2021/naics-2021.xsd" ] } }, "elementCount": 24, "entityCount": 1, "hidden": { "http://xbrl.sec.gov/dei/2021": 3, "total": 3 }, "keyCustom": 0, "keyStandard": 23, "memberCustom": 0, "memberStandard": 0, "nsprefix": "avnt", "nsuri": "http://www.avient.com/20220726", "report": { "R1": { "firstAnchor": { "ancestors": [ "span", "p", "div", "div", "body", "html" ], "baseRef": "d324065d8k.htm", "contextRef": "duration_2022-07-26_to_2022-07-26", "decimals": null, "first": true, "lang": "en-US", "name": "dei:DocumentType", "reportCount": 1, "unique": true, "unitRef": null, "xsiNil": "false" }, "groupType": "document", "isDefault": "true", "longName": "100000 - Document - Document and Entity Information", "role": "http://www.avient.com//20220726/taxonomy/role/DocumentDocumentAndEntityInformation", "shortName": "Document and Entity Information", "subGroupType": "", "uniqueAnchor": { "ancestors": [ "span", "p", "div", "div", "body", "html" ], "baseRef": "d324065d8k.htm", "contextRef": "duration_2022-07-26_to_2022-07-26", "decimals": null, "first": true, "lang": "en-US", "name": "dei:DocumentType", "reportCount": 1, "unique": true, "unitRef": null, "xsiNil": "false" } } }, "segmentCount": 0, "tag": { "dei_AmendmentFlag": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.", "label": "Amendment Flag", "terseLabel": "Amendment Flag" } } }, "localname": "AmendmentFlag", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.avient.com//20220726/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "booleanItemType" }, "dei_CityAreaCode": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Area code of city", "label": "City Area Code", "terseLabel": "City Area Code" } } }, "localname": "CityAreaCode", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.avient.com//20220726/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_CoverAbstract": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Cover page.", "label": "Cover [Abstract]", "terseLabel": "Cover [Abstract]" } } }, "localname": "CoverAbstract", "nsuri": "http://xbrl.sec.gov/dei/2021", "xbrltype": "stringItemType" }, "dei_DocumentPeriodEndDate": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.", "label": "Document Period End Date", "terseLabel": "Document Period End Date" } } }, "localname": "DocumentPeriodEndDate", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.avient.com//20220726/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "dateItemType" }, "dei_DocumentType": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.", "label": "Document Type", "terseLabel": "Document Type" } } }, "localname": "DocumentType", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.avient.com//20220726/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "submissionTypeItemType" }, "dei_EntityAddressAddressLine1": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Address Line 1 such as Attn, Building Name, Street Name", "label": "Entity Address, Address Line One", "terseLabel": "Entity Address, Address Line One" } } }, "localname": "EntityAddressAddressLine1", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.avient.com//20220726/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressAddressLine2": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Address Line 2 such as Street or Suite number", "label": "Entity Address, Address Line Two", "terseLabel": "Entity Address, Address Line Two" } } }, "localname": "EntityAddressAddressLine2", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.avient.com//20220726/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressCityOrTown": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Name of the City or Town", "label": "Entity Address, City or Town", "terseLabel": "Entity Address, City or Town" } } }, "localname": "EntityAddressCityOrTown", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.avient.com//20220726/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressPostalZipCode": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Code for the postal or zip code", "label": "Entity Address, Postal Zip Code", "terseLabel": "Entity Address, Postal Zip Code" } } }, "localname": "EntityAddressPostalZipCode", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.avient.com//20220726/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressStateOrProvince": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Name of the state or province.", "label": "Entity Address, State or Province", "terseLabel": "Entity Address, State or Province" } } }, "localname": "EntityAddressStateOrProvince", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.avient.com//20220726/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "stateOrProvinceItemType" }, "dei_EntityCentralIndexKey": { "auth_ref": [ "r5" ], "lang": { "en-us": { "role": { "documentation": "A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.", "label": "Entity Central Index Key", "terseLabel": "Entity Central Index Key" } } }, "localname": "EntityCentralIndexKey", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.avient.com//20220726/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "centralIndexKeyItemType" }, "dei_EntityEmergingGrowthCompany": { "auth_ref": [ "r5" ], "lang": { "en-us": { "role": { "documentation": "Indicate if registrant meets the emerging growth company criteria.", "label": "Entity Emerging Growth Company", "terseLabel": "Entity Emerging Growth Company" } } }, "localname": "EntityEmergingGrowthCompany", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.avient.com//20220726/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "booleanItemType" }, "dei_EntityFileNumber": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.", "label": "Entity File Number", "terseLabel": "Entity File Number" } } }, "localname": "EntityFileNumber", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.avient.com//20220726/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "fileNumberItemType" }, "dei_EntityIncorporationStateCountryCode": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Two-character EDGAR code representing the state or country of incorporation.", "label": "Entity Incorporation State Country Code", "terseLabel": "Entity Incorporation State Country Code" } } }, "localname": "EntityIncorporationStateCountryCode", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.avient.com//20220726/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "edgarStateCountryItemType" }, "dei_EntityRegistrantName": { "auth_ref": [ "r5" ], "lang": { "en-us": { "role": { "documentation": "The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.", "label": "Entity Registrant Name", "terseLabel": "Entity Registrant Name" } } }, "localname": "EntityRegistrantName", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.avient.com//20220726/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityTaxIdentificationNumber": { "auth_ref": [ "r5" ], "lang": { "en-us": { "role": { "documentation": "The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.", "label": "Entity Tax Identification Number", "terseLabel": "Entity Tax Identification Number" } } }, "localname": "EntityTaxIdentificationNumber", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.avient.com//20220726/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "employerIdItemType" }, "dei_LocalPhoneNumber": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Local phone number for entity.", "label": "Local Phone Number", "terseLabel": "Local Phone Number" } } }, "localname": "LocalPhoneNumber", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.avient.com//20220726/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_PreCommencementIssuerTenderOffer": { "auth_ref": [ "r2" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.", "label": "Pre Commencement Issuer Tender Offer", "terseLabel": "Pre Commencement Issuer Tender Offer" } } }, "localname": "PreCommencementIssuerTenderOffer", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.avient.com//20220726/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "booleanItemType" }, "dei_PreCommencementTenderOffer": { "auth_ref": [ "r3" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.", "label": "Pre Commencement Tender Offer", "terseLabel": "Pre Commencement Tender Offer" } } }, "localname": "PreCommencementTenderOffer", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.avient.com//20220726/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "booleanItemType" }, "dei_Security12bTitle": { "auth_ref": [ "r0" ], "lang": { "en-us": { "role": { "documentation": "Title of a 12(b) registered security.", "label": "Security 12b Title", "terseLabel": "Security 12b Title" } } }, "localname": "Security12bTitle", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.avient.com//20220726/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "securityTitleItemType" }, "dei_SecurityExchangeName": { "auth_ref": [ "r1" ], "lang": { "en-us": { "role": { "documentation": "Name of the Exchange on which a security is registered.", "label": "Security Exchange Name", "terseLabel": "Security Exchange Name" } } }, "localname": "SecurityExchangeName", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.avient.com//20220726/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "edgarExchangeCodeItemType" }, "dei_SolicitingMaterial": { "auth_ref": [ "r4" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.", "label": "Soliciting Material", "terseLabel": "Soliciting Material" } } }, "localname": "SolicitingMaterial", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.avient.com//20220726/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "booleanItemType" }, "dei_TradingSymbol": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Trading symbol of an instrument as listed on an exchange.", "label": "Trading Symbol", "terseLabel": "Trading Symbol" } } }, "localname": "TradingSymbol", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.avient.com//20220726/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "tradingSymbolItemType" }, "dei_WrittenCommunications": { "auth_ref": [ "r6" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.", "label": "Written Communications", "terseLabel": "Written Communications" } } }, "localname": "WrittenCommunications", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.avient.com//20220726/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "booleanItemType" } }, "unitCount": 0 } }, "std_ref": { "r0": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "b" }, "r1": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "d1-1" }, "r2": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "13e", "Subsection": "4c" }, "r3": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "14d", "Subsection": "2b" }, "r4": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "14a", "Subsection": "12" }, "r5": { "Name": "Regulation 12B", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "b-2" }, "r6": { "Name": "Securities Act", "Number": "230", "Publisher": "SEC", "Section": "425" } }, "version": "2.1" } ZIP 17 0001193125-22-201616-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001193125-22-201616-xbrl.zip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end