10-K

United States

Securities and Exchange Commission

Washington, DC 20549

FORM 10-K

þ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2014

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from            to            .

Commission file number 1-16091

PolyOne Corporation

(Exact name of registrant as specified in its charter)

Ohio	34-1730488
(State or other jurisdiction of incorporation or organization)	(IRS Employer Identification No.)
33587 Walker Road,	44012
Avon Lake, Ohio	(Zip Code)
(Address of principal executive offices)

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

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

Title of each class	Name of each exchange on which registered
Common Shares, par value $.01 per share	New York Stock Exchange

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

None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.    Yes þ      No ¨

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.    Yes ¨      No þ

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes þ      No ¨

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.    þ

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes þ      No ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer  þ	Accelerated filer  £	Non-accelerated filer £	Smaller reporting company  £
	(Do not check if a smaller reporting company)

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes ¨      No þ

The aggregate market value of the registrant’s outstanding common shares held by non-affiliates on June 30, 2014, determined using a per share closing price on that date of $42.14, as quoted on the New York Stock Exchange, was $3.7 billion.

The number of shares of common shares outstanding as of January 31, 2015 was 89,100,439.

DOCUMENTS INCORPORATED BY REFERENCE

Part III of this Annual Report on Form 10-K incorporates by reference certain information from the registrant’s definitive Proxy Statement with respect to the 2015 Annual Meeting of Shareholders.

POLYONE  CORPORATION

PART I

CAUTIONARY NOTE ON FORWARD-LOOKING STATEMENTS

In this Annual Report on Form 10-K, 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. You can identify these statements by the fact that they do not relate strictly to historic or current facts. They use words such as “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 performance and/or sales. In particular, these include statements relating to future actions; prospective changes in raw material costs, product pricing or product demand; future performance; estimated capital expenditures; results of current and anticipated market conditions and market strategies; sales efforts; expenses; the outcome of contingencies such as legal proceedings; and financial results. Factors that could cause actual results to differ materially from those implied by these forward-looking statements include, but are not limited to:

• the effect on foreign operations of currency fluctuations, tariffs and other political, economic and regulatory risks;

• changes in polymer consumption growth rates and laws and regulations regarding the disposal of plastic materials where we conduct business;

• changes in global industry capacity or in the rate at which anticipated changes in industry capacity come online in the industries in which we participate;

• 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, including any developments that would require any increase in our costs and/or reserves for such contingencies;

• an inability to achieve or delays in achieving or achievement of less than the anticipated financial benefit from initiatives related to working capital reductions, cost reductions and employee productivity goals;

• an inability to raise or sustain prices for products or services;

• an inability to maintain appropriate relations with unions and employees;

• the speed and extent of an economic recovery, including the recovery of the housing markets;

• the financial condition of our customers, including the ability of customers (especially those that may be highly leveraged and those with inadequate liquidity) to maintain their credit availability;

• disruptions, uncertainty or volatility in the credit markets that may limit our access to capital;

• other factors affecting our business beyond our control, including, without limitation, changes in the general economy, changes in interest rates and changes in the rate of inflation;

• the amount and timing of repurchases, if any, of PolyOne common shares;

• our ability to pay regular quarterly cash dividends and the amounts and timing of any future dividends;

• our ability to realize anticipated savings and operational benefits from the realignment of assets, including the closure of manufacturing facilities; the timing of closings and shifts of production to new facilities related to asset realignments and any unforeseen loss of customers and/or disruptions of service or quality caused by such closings and/or production shifts; separation and severance amounts that differ from original estimates, amounts for non-cash charges related to asset write-offs and accelerated depreciation realignments of property, plant and equipment, that differ from original estimates;

• our ability to identify and evaluate acquisition targets and consummate acquisitions;

• the ability to successfully integrate acquired companies into our operations, retain the management teams of acquired companies, and retain relationships with customers of acquired companies, including, without limitation, Spartech and Accella Performance Materials; and

• other factors described in this Annual Report on Form 10-K under Item 1A, “Risk Factors.”

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We cannot guarantee that any forward-looking statement will be realized, although we believe we have been prudent in our plans and assumptions. Achievement of future results is subject to risks, uncertainties and inaccurate assumptions. Should known or unknown risks or uncertainties materialize, or should underlying assumptions prove inaccurate, actual results could vary materially from those anticipated, estimated or projected. Investors should bear this in mind as they consider forward-looking statements. We undertake no obligation to publicly update forward-looking statements, whether as a result of new information, future events or otherwise, except as otherwise required by law. You are advised, however, to consult any further disclosures we make on related subjects in our reports on Forms 10-Q, 8-K and 10-K furnished to the SEC. You should understand that it is not possible to predict or identify all risk factors. Consequently, you should not consider any such list to be a complete set of all potential risks or uncertainties.

ITEM 1.BUSINESS

Business Overview

We are a premier provider of specialized polymer materials, services and solutions with operations in specialty polymer formulations, color and additive systems, plastic sheet and packaging solutions and polymer distribution. We are also a highly specialized developer and manufacturer of performance enhancing additives, liquid colorants and fluoropolymersand silicone colorants. Headquartered in Avon Lake, Ohio, we have employees at sales, manufacturing and distribution facilities in North America, South America, Europe, Asia and Africa. We provide value to our customers through our ability to link our knowledge of polymers and formulation technology with our manufacturing and supply chain capabilities to provide value added solutions to designers, assemblers and processors of plastics (our customers). When used in this Annual Report on Form 10-K, the terms “we,” “us,” “our”, "PolyOne" and the “Company” mean PolyOne Corporation and its consolidated subsidiaries.

PolyOne was formed on August 31, 2000 from the consolidation of The Geon Company (Geon) and M.A. Hanna Company (Hanna). Geon’s roots date back to 1927 when BFGoodrich scientist Waldo Semon produced the first usable vinyl polymer. In 1948, BFGoodrich created a vinyl plastic division that was subsequently spun off through a public offering in 1993, creating Geon, a separate publicly-held company. Hanna was formed in 1885 as a privately-held company and became publicly-held in 1927. In the mid-1980s, Hanna began to divest its historic mining and shipping businesses to focus on polymers. Hanna purchased its first polymer company in 1986 and completed its 26^th polymer company acquisition in 2000.

PolyOne Corporation is incorporated in Ohio and headquartered in Avon Lake, Ohio. We employ approximately 6,900 people and have 75 manufacturing sites and eight distribution facilities in North America, South America, Europe and Asia. We offer more than 35,000 polymer solutions to over 10,000 customers across the globe. In 2014, we had sales of $3.8 billion, 32% of which were to customers outside the United States.

We provide value to our customers with solutions built upon our ability to leverage our polymer and formulation expertise with our operational capabilities, being the essential link between large chemical producers (our raw material suppliers) and designers, assemblers and processors of plastics (our customers). We believe that our role in the value chain continues to become more essential as our customers need reliable suppliers with global reach and more effective solutions to improve their profitability and competitive advantage. Our goal is to provide our customers with specialized materials and service solutions through our global reach, broad market knowledge, technical expertise, product breadth, efficient manufacturing operations, a fully integrated information technology network, and raw material procurement leverage. Our end markets are primarily in transportation, packaging, building and construction, industrial, healthcare, consumer, wire and cable, electrical and electronics, and appliance.

Polymer Industry Overview

Polymers are a class of organic materials that are generally produced by converting natural gas or crude oil derivatives into monomers, such as ethylene, propylene, vinyl chloride and styrene. These monomers are then polymerized into chains called polymers, or plastic resin, such as polyethylene and polypropylene, in their most basic forms. Large petrochemical companies, including some in the petroleum industry, produce a majority of the monomers and base resins because they have direct access to the raw materials needed for production. Monomers make up the majority of the variable cost of manufacturing the base resin. As a result, the cost of a base resin tends to move in tandem with the industry market prices for monomers and the cost of raw materials and energy used during production. Resin selling prices can move in tandem with costs, but are largely driven by supply and demand.

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Thermoplastic polymers make up a substantial majority of the resin market and are characterized by their ability to be reshaped repeatedly into new forms after heat and pressure are applied. Thermoplastics offer versatility and a wide range of applications. The major types of thermoplastics include polyethylene, polyvinyl chloride, polypropylene, polystyrene, polyester and a range of specialized engineering resins. Each type of thermoplastic has unique qualities and characteristics that make it appropriate for use in a particular application. Thermoplastic composites include these base resins, but are combined with a structural filler such as glass, carbon or polymer fibers to enhance strength, rigidity and structure. Further performance can be delivered through an engineered thermoplastic sheet or thick film, which may incorporate more than one resin formulation or composite in multiple layers to impart additional properties such as gas barrier, structural integrity and lightweighting.

Thermoplastic and polymer composites are found in a variety of end-use products and markets, including packaging, building and construction, wire and cable, transportation, medical, furniture and furnishings, durable goods, electrical and electronics, adhesives, inks and coatings. Each type of thermoplastic resin has unique characteristics (such as flexibility, strength or durability) suitable for use in a particular end-use application. The packaging industry requires plastics that help keep food fresh and free of contamination while providing a variety of options for product display, and offering advantages in terms of weight and user-friendliness. In the building and construction industry, plastic provides an economical and energy efficient replacement for other traditional materials in piping applications, siding, flooring, insulation, windows and doors, as well as structural and interior or decorative uses. In the wire and cable industry, thermoplastics serve to protect by providing electrical insulation, flame resistance, durability, water resistance, and color coding to wire coatings and connectors. In the transportation industry, plastic has proven to be durable, lightweight and corrosion resistant while offering fuel savings, design flexibility and high performance, often replacing traditional materials such as metal and glass. In the medical industry, plastics are used for a vast array of devices and equipment, including blood and intravenous bags, medical tubing, catheters, lead replacement for radiation shielding, clamps and connectors to bed frames, curtains and sheeting, electronic enclosures and equipment housings. In the electronics industry, plastic enclosures and connectors not only enhance safety through electrical insulation, but thermally and electrically conductive plastics provide heat transferring, cooling, antistatic, electrostatic discharge, and electromagnetic shielding performance for critical applications including integrated circuit chip packaging.

Various additives can be formulated with a base resin and further engineered into a structure to provide them with greater versatility and performance. Polymer formulations and structures have advantages over metals, wood, rubber, glass and other traditional materials, which have resulted in the replacement of these materials across a wide spectrum of applications that range from automobile parts to construction materials. These specialized polymers offer advantages compared to traditional materials that include design freedom, processability, weight reduction, chemical resistance, flame retardance and lower cost. Plastics are renowned for their durability, aesthetics, ease of handling and recyclability.

PolyOne Segments

We operate in five reportable segments: (1) Global Color, Additives and Inks; (2) Global Specialty Engineered Materials; (3) Designed Structures and Solutions; (4) Performance Products and Solutions; and (5) PolyOne Distribution.

On December 1, 2014, the Company completed the acquisition of specialty assets of Accella Performance Materials (Accella). The Accella acquisition complements the existing specialty business portfolio by providing specialty coating solutions and value-added services in a wide-range of applications, including consumer products, interior and under-the-hood automotive parts, outdoor recreational equipment and food packaging.

On May 30, 2013, we sold our vinyl dispersion, blending and suspension resin assets (Resin Business) to Mexichem Specialty Resins Inc. (Mexichem). As a result of the sale, the Resin Business has been removed from the Performance Products and Solutions segment and is presented as a discontinued operation in all periods presented.

On March 13, 2013, PolyOne acquired Spartech Corporation (Spartech), a supplier of sustainable plastic sheet, color and engineered materials, and packaging solutions, based in Clayton, Missouri. The acquisition of Spartech has provided substantial synergies through enhanced operational cost efficiencies and has expanded PolyOne's specialty portfolio.

Spartech's results have been reflected within our Consolidated Statements of Income and within our Designed Structures and Solutions segment, as well as within our Global Specialty Engineered Materials, Global Color, Additives and Inks and Performance Products and Solutions segments, since the date of acquisition.

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Our segments are further discussed in Note 16,Segment Information.

Global Color, Additives and Inks

Global Color, Additives and Inks is a leading provider of specialized custom color and additive concentrates in solid and liquid form for thermoplastics, dispersions for thermosets, as well as specialty inks, plastisols, and vinyl slush molding solutions. Color and additive solutions include an innovative array of colors, special effects and performance-enhancing and eco-friendly solutions. When combined with a non-base resin, our solutions help customers achieve differentiated specialized colors and effects targeted at the demands of today’s highly design-oriented consumer and industrial end markets. Our additive concentrates encompass a wide variety of performance and process enhancing characteristics and are commonly categorized by the function that they perform, such as UV stabilization, antimicrobial, anti-static, blowing or foaming, antioxidant, lubricant, and productivity enhancement. Our colorant and additives concentrates are used in a broad range of polymers, including those used in medical and pharmaceutical devices, food packaging, personal care and cosmetics, transportation, building products, wire and cable markets. We also provide custom-formulated liquid systems that meet a variety of customer needs and chemistries, including vinyl, natural rubber and latex, polyurethane and silicone. Our offering also includes proprietary inks and latexes for diversified markets such as recreational and athletic apparel, construction and filtration, outdoor furniture and healthcare. Our liquid polymer coatings and additives are largely based on vinyl and are used in a variety of markets, including building and construction, consumer, healthcare, industrial, packaging, textiles, appliances, transportation, and wire and cable. Global Color, Additives and Inks has manufacturing, sales and service facilities located throughout North America, South America, Europe, Asia and Africa.

On December 1, 2014, the Company completed the acquisition of specialty assets of Accella, a leading North American manufacturer of liquid polymer formulations, for $47.2 million in cash, net of cash acquired. Accella results are included within the Global Color, Additives and Inks segment.

Global Specialty Engineered Materials

Global Specialty Engineered Materials is a leading provider of specialty polymer formulations, services and solutions for designers, assemblers and processors of thermoplastic materials across a wide variety of markets and end-use applications. Our product portfolio, which we believe to be one of the most diverse in our industry, includes specialty formulated high-performance polymer materials that are manufactured using thermoplastic resins and elastomers, which are then combined with advanced polymer additives, reinforcement, filler, colorant and/or biomaterial technologies. Our technical and market expertise enables us to expand the performance range and structural properties of traditional engineering-grade thermoplastic resins to meet evolving customer needs. Global Specialty Engineered Materials has manufacturing, sales and service facilities located throughout North America, Europe, Asia and South America. Our product development and application reach is further enhanced by the capabilities of our Innovation Centers in the United States, Germany and China, which produce and evaluate prototype and sample parts to help assess end-use performance and guide product development. Our manufacturing capabilities are targeted at meeting our customers’ demand for speed, flexibility and critical quality.

Designed Structures and Solutions

On March 13, 2013, the Company completed the acquisition of Spartech, a supplier of plastic sheet, color and engineered materials, and packaging solutions. As a result of the acquisition, a new reportable segment, "Designed Structures and Solutions", was created. Designed Structures and Solutions is comprised of the former Spartech Custom Sheet and Rollstock and Packaging Technologies businesses. We believe PolyOne's Designed Structures and Solutions segment is a market leader in providing specialized, full service and innovative solutions in engineered polymer structures, rigid barrier packaging and specialty cast acrylics. We utilize a variety of polymers, specialty additives and processing technologies to produce a complete portfolio of sheet, custom rollstock and specialty film, laminate and acrylic solutions. Our solutions can be engineered to provide structural or functional performance in an application or deliver design and visual aesthetics to meet our customers’ needs. Our offerings also include a wide range of sustainable, cost-effective stock and custom packaging solutions for various industry processes used in the food, medical, consumer and graphic arts markets. In addition to packaging, we also work closely with customers to provide solutions for transportation, building and construction, healthcare and consumer markets. Designed Structures and Solutions has manufacturing, sales and service facilities located throughout North America.

Performance Products and Solutions

Performance Products and Solutions is comprised of the Geon Performance Materials (Geon) and Producer Services business units. The Geon business delivers an array of products and services for vinyl molding and

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extrusion processors located in North America and Asia. The Geon brand name carries strong recognition globally. Geon's products are sold to manufacturers of durable plastic parts and consumer-oriented products. We also offer a wide range of services including materials testing, component analysis, custom formulation development, colorant and additive services, part design assistance, structural analysis, process simulations, mold design and flow analysis and extruder screw design. Vinyl is used across a broad range of markets and applications, including, but not limited to: healthcare, wire and cable, building and construction, consumer and recreational products and transportation and packaging. The Producer Services business unit offers contract manufacturing and outsourced polymer manufacturing services to resin producers and polymer marketers, primarily in the United States and Mexico, as well as its own proprietary compounds for pressure pipe and drip irrigation applications. As a strategic and integrated supply chain partner, Producer Services offers resin producers a way to develop custom products for niche markets by using our process technology expertise and multiple manufacturing platforms.

PolyOne Distribution

The PolyOne Distribution business distributes more than 3,500 grades of engineering and commodity grade resins, including PolyOne-produced solutions, principally to the North American and Asian markets. These products are sold to over 6,000 custom injection molders and extruders who, in turn, convert them into plastic parts that are sold to end-users in a wide range of industries. Representing over 25 major suppliers, we offer our customers a broad product portfolio, just-in-time delivery from multiple stocking locations and local technical support. Recent expansion in Central America and Asia have bolstered PolyOne Distribution's ability to serve the specialized needs of customers globally.

Competition

The production of plastics and the manufacturing of custom and proprietary formulated color and additives systems for the plastics industry are highly competitive. Competition is based on service, performance, product innovation, product recognition, speed, delivery, quality and price. The relative importance of these factors varies among our products and services. We believe that we are the largest independent formulator of plastic materials and producer of custom and proprietary color and additive systems in the United States and Europe, with a growing presence in Asia and South America. Our competitors range from large international companies with broad product offerings to local independent custom producers whose focus is a specific market niche or product offering.

The distribution of polymer resin is also highly competitive. Speed, service, reputation, product line, brand recognition, delivery, quality and price, are the principal factors affecting competition. We compete against other national independent resin distributors in North America, along with other regional distributors. Growth in the polymer distribution market is directly correlated with growth in the base polymer resins market. We believe that the strength of our company name and reputation, the broad range of product offerings from our suppliers and our speed and responsiveness, coupled with the quality of products and agility of our distribution network, allow us to compete effectively.

Raw Materials

The primary raw materials used by our manufacturing operations are polyvinyl chloride (PVC) resin, polyolefin and other thermoplastic resins, plasticizers, inorganic and organic pigments, all of which we believe are in adequate supply. We have a long-term supply contract with Oxy Vinyls LP, a former equity investment affiliate, under which the majority of our PVC resin is supplied. This contract contains a year-by-year evergreen renewal provision, unless terminated by either party with a one-year advance notice. We believe this contract assures the availability of adequate amounts of PVC resin. We also believe that the pricing under this contract provides PVC resins to us at a competitive cost. See the discussion of risks associated with raw material supply and costs in Item 1A, “Risk Factors”.

Patents and Trademarks

We own and maintain a number of patents and trademarks in the United States and other key countries that contribute to our competitiveness in the markets we serve because they protect our inventions and product names against infringement by others. Patents exist for 20 years from filing date, and trademarks have an indefinite life based upon continued use. While we view our patents and trademarks to be valuable because of the broad scope of our products and services and brand recognition we enjoy, we do not believe that the loss or expiration of any single patent or trademark would have a material adverse effect on our results of operations, financial position or cash flows. Nevertheless, we have implemented management processes designed to protect our inventions and trademarks.

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Seasonality and Backlog

Sales of our products and services are slightly seasonal as demand is generally slower in the first and fourth calendar quarters of the year. Because of the nature of our business, we do not believe that our backlog is a meaningful indicator of the level of our present or future business.

Working Capital Practices

Our products are generally manufactured with a short turnaround time, and the scheduling of manufacturing activities from customer orders generally includes enough lead time to assure delivery of an adequate supply of raw materials. We offer payment terms to our customers that are competitive. We generally allow our customers to return merchandise if pre-agreed quality standards or specifications are not met; however, we employ quality assurance practices that seek to minimize customer returns. Our customer returns are immaterial.

Significant Customers

No customer accounted for more than 2% of our consolidated revenues in 2014, and we do not believe we would suffer a material adverse effect if we were to lose any single customer.

Research and Development

We have substantial technology and development capabilities. Our efforts are largely devoted to developing new product formulations to satisfy defined market needs, by providing quality technical services to evaluate alternative raw materials, assuring the continued success of our products for customer applications, providing technology to improve our products, processes and applications, and providing support to our manufacturing plants for cost reduction, productivity and quality improvement programs. We operate research and development centers that support our commercial development activities and manufacturing operations. These facilities are equipped with state-of-the-art analytical, synthesis, polymer characterization and testing equipment, along with pilot plants and polymer manufacturing operations that simulate specific production processes that allow us to rapidly translate new technologies into new products. Our investment in product research and development from continuing operations was $53.4 million in 2014, $52.6 million in 2013 and $41.3 million in 2012.

Methods of Distribution

We sell products primarily through direct sales personnel, distributors, including our PolyOne Distribution segment, and commissioned sales agents. We primarily use truck carriers to transport our products to customers, although some customers pick up product at our manufacturing facilities or warehouses. We also ship some of our manufactured products to customers by rail.

Employees

As of December 31, 2014, we employed approximately 6,900 people. Approximately 5% of our employees are represented by labor unions under collective bargaining agreements. We believe that relations with our employees are good, and we do not anticipate significant operating issues to occur as a result of current negotiations, or when we renegotiate collective bargaining agreements as they expire.

Environmental, Health and Safety

We are subject to various environmental laws and regulations that apply to the production, use and sale of chemicals, emissions into the air, discharges into waterways and other releases of materials into the environment and the generation, handling, storage, transportation, treatment and disposal of waste material. We endeavor to ensure the safe and lawful operation of our facilities in the manufacture and distribution of products, and we believe we are in material compliance with all applicable laws and regulations.

We maintain a disciplined environmental and occupational safety and health compliance program and conduct periodic internal and external regulatory audits at our facilities to identify and categorize potential environmental exposures, including compliance matters and any actions that may be required to address. This effort can result in process or operational modifications, the installation of pollution control devices or cleaning up grounds or facilities. We believe that we are in material compliance with all applicable requirements.

We are strongly committed to safety as evidenced by our injury incidence rate of 0.84 per 100 full-time workers per year in 2014, compared to 0.97 in 2013. The 2013 average injury incidence rate for our NAICS Code (326 Plastics and Rubber Products Manufacturing) was 4.4.

In our operations, we must comply with product-related governmental law and regulations affecting the plastics industry generally and also with content-specific law, regulations and non-governmental standards. We believe that

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compliance with current governmental laws and regulations and with non-governmental content-specific standards will not have a material adverse effect on our financial position, results of operations or cash flows. The risk of additional costs and liabilities, however, is inherent in certain plant operations and certain products produced at these plants, as is the case with other companies in the plastics industry. Therefore, we may incur additional costs or liabilities in the future. Other developments, such as increasingly strict environmental, safety and health laws, regulations and related enforcement policies, including those under the Restrictions on the Use of Certain Hazardous Substances (RoHS), Registration, Evaluation, Authorization and Restriction of Chemicals (REACH), the Dodd-Frank Wall Street Reform and Consumer Protection Act (covering Conflict Minerals), and the Consumer Product Safety Improvement Act, the implementation of additional content-specific standards, discovery of unknown conditions, and claims for damages to property, persons or natural resources resulting from plant emissions or products, could also result in additional costs or liabilities.

A number of foreign countries and domestic communities have enacted, or are considering enacting, laws and regulations concerning the use and disposal of plastic materials. Widespread adoption of these laws and regulations, along with public perception, may have an adverse impact on sales of plastic materials. Although many of our major markets are in durable, longer-life applications that could reduce the impact of these kinds of environmental regulations, more stringent regulation of the use and disposal of plastics may have an adverse effect on our business.

We have been notified by federal and state environmental agencies and by private parties that we may be a potentially responsible party (PRP) in connection with their investigation and remediation of a number of environmental sites. While government agencies assert that PRPs are jointly and severally liable at these sites, in our experience, interim and final allocations of liability costs are generally made based on the relative contribution of waste. However, even when allocations of costs based on relative contribution of waste have been made, we cannot assure that our allocation will not increase if other PRPs do not pay their allocated share of these costs.

We incurred environmental expenses, before insurance recoveries, of $10.3 million in 2014, $61.2 million in 2013 and $12.8 million in 2012. Our environmental expense in 2014, 2013 and 2012 related mostly to ongoing remediation projects. 2013 expense included a $47.0 million adjustment to our Calvert City reserve, which is discussed further in Note 13, Commitments and Contingencies. In 2014 and 2013, we received insurance recoveries $3.7 million and $23.5 million, respectively, as reimbursement of previously incurred environmental remediation costs.

We also conduct investigations and remediation at certain of our active and inactive facilities and have assumed responsibility for the resulting environmental liabilities from operations at sites we, or our predecessors, formerly owned or operated. We believe that our potential continuing liability at these sites will not have a material adverse effect on our results of operations, financial position or cash flows. In addition, we voluntarily initiate corrective and preventive environmental projects at our facilities. As of December 31, 2014, our reserves totaled $121.1 million, covering probable future environmental expenditures that we can reasonably estimate related to previously contaminated sites. This amount represents our best estimate of probable costs, based upon the information and technology currently available.

Depending upon the results of future testing, the ultimate remediation alternatives undertaken, changes in regulations, new information, newly discovered conditions and other factors, it is reasonably possible that we could incur additional costs in excess of the amount accrued at December 31, 2014. Such costs, if any, cannot be currently estimated. We may revise our estimate of this liability as new regulations or technologies are developed, or additional information is obtained.

Refer to Note 13,Commitments and Contingencies, for further discussion of our environmental liabilities.

We expect 2015 environmental cash expenditures to approximate $11.5 million.

International Operations

Our international operations are subject to a variety of risks, including currency fluctuations and devaluations, exchange controls, currency restrictions and changes in local economic conditions. While the impact of these risks is difficult to predict, any one or more of them could adversely affect our future operations. For more information about our international operations, see Note 16,Segment Information, to the accompanying consolidated financial statements, which is incorporated by reference into this Item 1.

Where You Can Find Additional Information

Our principal executive offices are located at 33587 Walker Road, Avon Lake, Ohio 44012, and our telephone number is (440) 930-1000. We are subject to the information reporting requirements of the Exchange Act, and, in

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accordance with these requirements, we file annual, quarterly and other reports, proxy statements and other information with the SEC relating to our business, financial results and other matters. The reports, proxy statements and other information we file may be inspected and copied at prescribed rates at the SEC’s Public Reference Room and via the SEC’s website (see below for more information).

You may inspect a copy of the reports, proxy statements and other information we file with the SEC, without charge, at the SEC’s Public Reference Room, 100 F Street, N.E., Room 1580, Washington, D.C. 20549, and you may obtain copies of the reports, proxy statements and other information we file with the SEC, from those offices for a fee. You may obtain information on the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330. Our filings are available to the public at the SEC’s website at http://www.sec.gov.

Our Internet address is www.polyone.com. Our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act are available, free of charge, on our website (www.polyone.com, select Investors and then SEC Edgar filings) or upon written request, as soon as reasonably practicable after we electronically file or furnish them to the SEC. The contents of our website are not part of this Annual Report on Form 10-K, and the reference to our website does not constitute incorporation by reference into this Form 10-K of the information contained at that site.

ITEM 1A.RISK FACTORS

The following are certain risk factors that could affect our business, results of operations, financial position or cash flows. These risk factors should be considered along with the forward-looking statements contained in this Annual Report on Form 10-K because these factors could cause our actual results or financial condition to differ materially from those projected in forward-looking statements. The following discussion is not an all-inclusive listing of risks, although we believe these are the more material risks that we face. If any of the following occur, our business, results of operations, financial position or cash flows could be adversely affected.

Demand for and supply of our products and services may be adversely affected by several factors, some of which we cannot predict or control.

Several factors may affect the demand for and supply of our products and services, including:

• economic downturns in the significant end markets that we serve;

• product obsolescence or technological changes that unfavorably alter the value/cost proposition of our products and services;

• competition from existing and unforeseen polymer and non-polymer based products;

• declines in general economic conditions or reductions in industrial production growth rates, both domestically and globally, which could impact our customers’ ability to pay amounts owed to us;

• changes in environmental regulations that would limit our ability to sell our products and services in specific markets;

• changes in laws and regulations regarding the disposal of plastic materials; and

• inability to obtain raw materials or supply products to customers due to factors such as supplier work stoppages, supply shortages, plant outages or regulatory changes that may limit or prohibit overland transportation of certain hazardous materials and exogenous factors, like severe weather.

If any of these events occur, the demand for and supply of our products and services could suffer.

Our manufacturing operations are subject to hazards and other risks associated with polymer production and the related storage and transportation of raw materials, products and wastes.

The hazards and risks our manufacturing operations are subject to include, but are not limited to:

• explosions, fires, inclement weather and natural disasters;

• mechanical failure resulting in protracted or short duration unscheduled downtime;

• regulatory changes that affect or limit the transportation of raw materials;

• inability to obtain or maintain any required licenses or permits;

• interruptions and environmental hazards such as chemical spills, discharges or releases of toxic or hazardous substances or gases into the environment or workplace; and

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• storage tank leaks or other issues resulting from remedial activities.

The occurrence of any of these operating problems at our facilities may have a material adverse effect on the productivity and profitability of a particular manufacturing or distribution facility or on our operations as a whole, during and after the period of these operating difficulties. These operating problems may also cause personal injury and loss of life, customer attrition and severe damage to or destruction of property and equipment and environmental damage. We are subject to present claims and potential future claims with respect to workplace exposure, workers’ compensation and other matters. Our property and casualty insurance, which we believe is of the types and in the amounts that are customary for the industry, may not fully insure us against all potential hazards that are incident to our business or otherwise could occur.

Extensive environmental, health and safety laws and regulations impact our operations and assets.

Our operations on, and ownership of, real property are subject to extensive environmental, health and safety laws and regulations at the national, state and local governmental levels. The nature of our business exposes us to compliance costs and risks of liability under these laws and regulations due to the production, storage, transportation, recycling or disposal and/or sale of materials that can cause contamination and other harm to the environment or personal injury if they are improperly handled and released. Environmental compliance requirements on us and our vendors may significantly increase the costs of these activities involving raw materials, energy, finished products and wastes. We may incur substantial costs, including fines, criminal or civil sanctions, damages, remediation costs or experience interruptions in our operations for violations of these laws.

We also conduct investigations and remediation at some of our active and inactive facilities and have assumed responsibility or have been assessed responsibility for environmental liabilities at sites formerly owned or operated by our predecessors or by us. Also, federal and state environmental statutes impose strict, and under some circumstances, joint and several liability for the cost of investigations and remedial actions on any company that generated waste, arranged for disposal of the waste, transported the waste to the disposal site or selected the disposal site, as well as the owners and operators of these sites. Any or all of the responsible parties may be required to bear all of the costs of clean up, regardless of fault or legality of the waste disposal or ownership of the site, and may also be subject to liability for natural resource damages. We have been notified by federal and state environmental agencies and private parties that we may be a potentially responsible party in connection with certain sites. We may incur substantial costs for some of these sites. It is possible that we will be identified as a potentially responsible party at more sites in the future, which could result in our being assessed substantial investigation or cleanup costs.

We may also incur additional costs and liabilities as a result of increasingly strict environmental, safety and health laws, regulations and related enforcement policies, restrictions on the use of lead and phthalates under the Restrictions on the Use of Certain Hazardous Substances and the Consumer Product Safety Information Act of 2008, and restrictions on greenhouse gases emissions.

The European Union has adopted REACH, a legislative act to cover Registration, Evaluation, Authorization and Restriction of Chemicals. The goal of this legislation, which became effective in June 2007, is to minimize risk to human health and to the environment by regulating the use of chemicals. As these regulations evolve, we will endeavor to remain in compliance with REACH, and similar regulations across the globe.

We accrue costs for environmental matters that have been identified when it is probable that these costs will be required and when they can be reasonably estimated. However, we may be subject to additional environmental liabilities or potential liabilities that have not been identified. We expect that we will continue to be subject to increasingly stringent environmental, health and safety laws and regulations. We anticipate that compliance with these laws and regulations will continue to require capital expenditures and operating costs.

Our operations could be adversely affected by various risks inherent in conducting operations worldwide.

As noted above in Item 1, “Business,” we have extensive operations outside of the United States. Revenue from these operations (principally from Canada, Mexico, Europe, South America and Asia) was approximately 32% in 2014, 33% in 2013 and 40% in 2012 of our total revenues. Long-lived assets of our foreign operations represented 29% in 2014, 31% in 2013 and 38% in 2012 of our total long-lived assets.

International operations are subject to risks, which include, but are not limited to, the following:

• changes in local government regulations and policies including, but not limited to foreign currency exchange controls or monetary policy, repatriation of earnings, expropriation of property, duty or tariff restrictions, investment limitations and tax policies;

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• political and economic instability and disruptions, including labor unrest, civil strife, acts of war, guerrilla activities, insurrection and terrorism;

• legislation that regulates the use of chemicals;

• disadvantages of competing against companies from countries that are not subject to U.S. laws and regulations, including the Foreign Corrupt Practices Act (FCPA);

• compliance with international trade laws and regulations, including export control and economic sanctions;

• difficulties in staffing and managing multi-national operations;

• limitations on our ability to enforce legal rights and remedies;

• reduced protection of intellectual property rights; and

• other risks arising out of foreign sovereignty over the areas where our operations are conducted.

In addition, we could be adversely affected by violations of the FCPA and similar worldwide anti-bribery laws as well as export controls and economic sanction laws. The FCPA and similar anti-bribery laws in other jurisdictions generally prohibit companies and their intermediaries from making improper payments to non-U.S. officials for the purpose of obtaining or retaining business. Our policies mandate compliance with these laws. We operate in many parts of the world that have experienced governmental corruption to some degree and, in certain circumstances, strict compliance with anti-bribery laws may conflict with local customs and practices. We cannot assure you that our internal controls and procedures will always protect us from the reckless or criminal acts committed by our employees or agents. If we are found to be liable for FCPA, export control or sanction violations, we could suffer from criminal or civil penalties or other sanctions, including loss of export privileges or authorization needed to conduct aspects of our international business, which could have a material adverse effect on our business.

Any of these risks could have an adverse effect on our international operations by reducing the demand for our products. We may not be able to continue to operate in compliance with applicable customs, currency exchange control regulations, transfer pricing regulations or any other laws or regulations that we may be subject to. In addition, these laws or regulations may be modified in the future, and we may not be able to operate in compliance with those modifications.

We engage in acquisitions and joint ventures, and may encounter unexpected difficulties integrating those businesses.

Attainment of our strategic plan objectives require, in part, strategic acquisitions or joint ventures intended to complement or expand our businesses globally or add product technology that accelerates our specialization strategy, or both. Success will depend on our ability to complete these transactions or arrangements, and integrate the businesses acquired in these transactions as well as develop satisfactory working arrangements with our strategic partners in the joint ventures. Unexpected difficulties in integrating recent and future acquisitions with our existing operations and in managing strategic investments could occur. Furthermore, we may not realize the degree, or timing, of benefits initially anticipated.

Natural gas, electricity, fuel and raw material costs, and other external factors that are also beyond our control, as well as downturns in the home repair and remodeling and new home sectors of the economy, can cause fluctuations in our margins.

The cost of our natural gas, electricity, fuel and raw materials, and other costs, may not correlate with changes in the prices we receive for our products, either in the direction of the price change or in absolute magnitude. Natural gas and raw materials costs represent a substantial part of our manufacturing costs. Most of the raw materials we use are commodities and the price of each can fluctuate widely for a variety of reasons, including changes in availability because of major capacity additions or reductions or significant facility operating problems. Other external factors beyond our control can cause volatility in raw materials prices, demand for our products, product prices, sales volumes and margins. These factors include general economic conditions, the level of business activity in the industries that use our products, competitors’ actions, international events and circumstances, and governmental regulation in the United States and abroad, such as climate change regulation. These factors can also magnify the impact of economic cycles on our business. While we attempt to pass through price increases in energy costs and raw materials there can be no assurance that we can do so in the future.

Additionally, our products used in housing, transportation and building and construction markets are impacted by changes in demand in these sectors, which may be significantly affected by changes in economic and other conditions such as gross domestic product levels, employment levels, demographic trends, legislative actions and consumer confidence. These factors can lower the demand for and pricing of our products.

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We face competition from other polymer companies as well as chemical companies.

We encounter competition in price, payment terms, delivery, service, performance, product innovation, product recognition and quality, depending on the product involved.

We expect that our competitors will continue to develop and introduce new and enhanced products, which could cause a decline in the market acceptance of our products. In addition, our competitors could cause a reduction in the selling prices of some of our products as a result of intensified price competition. Competitive pressures can also result in the loss of customers.

We may also experience increased competition from companies that offer products based on alternative technologies and processes that may cause us to lose customers. Additionally, some of our customers may already be or may become large enough to justify developing in-house production capabilities. Any significant reduction in customer orders as a result of a shift to in-house production could adversely affect our sales and operating profits.

A major failure of our information systems could harm our business.

We depend on integrated information systems to conduct our business. We may experience operating problems with our information systems as a result of system failures, viruses, computer hackers or other causes. Any significant disruption or slowdown of our systems could cause customers to cancel orders or cause standard business processes to become inefficient or ineffective.

Disruptions in the global credit and financial markets could limit our access to credit, which could negatively impact our business.

Global credit and financial markets have experienced volatility in recent years, including volatility in securities prices, diminished liquidity and credit availability, declining valuations of certain investments and significant changes in the capital and organizational structures of certain financial institutions. These market conditions may limit our ability to access the capital necessary to grow and maintain our business. Accordingly, we may be forced to delay raising capital, issue shorter tenors than we prefer or pay unattractive interest rates, which could increase our interest expense, decrease our profitability and significantly reduce our financial flexibility.

Significant movements in foreign currency exchange rates or change in monetary policy may harm our financial results.

We are exposed to fluctuations in foreign currency exchange rates. Any significant change in the value of the currencies of the countries in which we do business against the U.S. dollar could affect our ability to sell products competitively and control our cost structure, which could have a material adverse effect on our business, financial condition and results of operations. For additional detail related to this risk, see Item 7A, Quantitative and Qualitative Disclosure About Market Risk.

We also face risks arising from the imposition of exchange controls and currency devaluations. Exchange controls may limit our ability to convert foreign currencies into U.S. dollars or to remit dividends and other payments by our foreign subsidiaries or customers located in or conducting business in a country imposing controls. Currency devaluations diminish the U.S. dollar value of the currency of the country instituting the devaluation and, if they occur or continue for significant periods, could adversely affect our earnings or cash flow.

An economic downturn in Europe may have a negative effect on our business and operations.

A prolonged economic downturn in Europe may cause a negative effect on our results of operations. Many of our customers, distributors and suppliers have been affected by these economic conditions. Current or potential customers may be unable to fund purchases or may determine to reduce purchases or inventories or may cease to continue in business. In addition, suppliers may not be able to supply us with needed raw materials on a timely basis, may increase prices or go out of business, which could result in our inability to meet customer demand or could affect our gross margins.

The agreements governing our debt, including our revolving credit facility and debt securities, contain various covenants that limit our ability to take certain actions and also require us to meet financial maintenance tests, failure to comply with which could have a material adverse effect on us.

The agreement governing our senior secured revolving credit facility, and the indentures governing our debt securities, contain a number of customary restrictive covenants that, among other things, limit our ability to: consummate asset sales, incur additional debt or liens, consolidate or merge with any entity or transfer or sell all or substantially all of our assets, pay dividends or make certain other restricted payments, make investments, enter

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into transactions with affiliates, create dividend or other payment restrictions with respect to subsidiaries, make capital investments and alter the business we conduct.

In addition, these agreements require us to comply with specific financial tests, under which we are required to achieve specific financial and operating results. Our ability to comply with these provisions may be affected by events beyond our control. A breach of any of these covenants would result in a default under the agreements. In the event of any default, our lenders could elect to declare all amounts borrowed under the agreements, together with accrued interest thereon, to be due and payable. In such event, we cannot assure that we would have sufficient assets to pay debt then outstanding under the agreements governing our debt. Any future refinancing of the revolving credit facility or debt securities may contain similar restrictive covenants.

To service our indebtedness, we will require a significant amount of cash. Our ability to generate cash depends on many factors beyond our control.

Our ability to pay interest on our debt and to satisfy our other debt obligations will depend in part upon our future financial and operating performance and that of our subsidiaries and upon our ability to renew or refinance borrowings. Prevailing economic conditions and financial, business, competitive, legislative, regulatory and other factors, many of which are beyond our control, will affect our ability to make these payments. While we believe that cash flow from our current level of operations, available cash and available borrowings under our revolving credit facilities will provide adequate sources of liquidity for at least the next twelve months, a significant drop in operating cash flow resulting from economic conditions, competition or other uncertainties beyond our control could create the need for alternative sources of liquidity. If we are unable to generate sufficient cash flow to meet our debt service obligations, we will have to pursue one or more alternatives, such as reducing or delaying capital or other expenditures, refinancing debt, selling assets, or raising equity capital.

We cannot guarantee that our business will generate sufficient cash flow from operations or that future borrowings will be available to us under our revolving credit facilities in an amount sufficient to enable us to pay our indebtedness or to fund our other liquidity needs. We may need to refinance all or a portion of our indebtedness on or before maturity. We cannot guarantee that we will be able to refinance any of our indebtedness, including our revolving credit facilities, on commercially reasonable terms or at all.

We have a significant amount of goodwill, and any future goodwill impairment charges could adversely impact our results of operations.

As of December 31, 2014, we had goodwill of $590.6 million. The future occurrence of a potential indicator of impairment, such as a significant adverse change in legal factors or business climate, an adverse action or assessment by a regulator, unanticipated competition, a material negative change in relationships with significant customers, strategic decisions made in response to economic or competitive conditions, loss of key personnel or a more-likely-than-not expectation that a reporting unit or a significant portion of a reporting unit will be sold or disposed of, could result in goodwill impairment charges, which could adversely impact our results of operations. We have recorded goodwill impairment charges in the past, and such charges materially impacted our historical results of operations. For additional information, see Note 3, Goodwill and Intangible Assets, to the accompanying consolidated financial statements.

Poor investment performance by our pension plan assets may increase our pension liability and expense, which may increase the required funding of our pension obligations and divert funds from other potential uses.

We provide defined benefit pension plans to eligible employees. Our pension expense and our required contributions to our pension plans are directly affected by the value of plan assets, the actual rate of return on plan assets and the actuarial assumptions we use to measure our defined benefit pension plan obligations, including the rate at which future obligations are discounted to a present value, or the discount rate. We assumed a weighted average rate of return of 6.86% on pension assets during 2014.

Poor investment performance by our pension plan assets resulting from a decline in prices in the equity and/or fixed income markets could impact the funded status of our plans. Should the assets earn an average return less than our assumed rate, it is likely that future pension expenses and funding requirements would increase.

We cannot predict whether changing market or economic conditions, regulatory changes or other factors will further increase our pension expense or funding obligations, diverting funds we would otherwise apply to other uses.

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Risks related to our pension plans may adversely impact our results of operations and cash flow.

Significant changes in the actual investment return on pension assets, discount rates, and other factors have and may continue to adversely affect our results of operations and pension contributions in future periods. U.S. generally accepted accounting principles require that we calculate income or expense for the plans using actuarial valuations. These valuations reflect assumptions about financial markets and interest rates. Changes in these assumptions have resulted in material charges to income in recent years and may continue to do so in future periods. We establish the discount rate used to determine the present value of the projected and accumulated benefit obligation at the end of each year based upon the available market rates for high quality, fixed income investments. An increase in the discount rate would increase future pension expense and, conversely, a decrease in the discount rate would decrease future pension expense.

Funding requirements for our U.S. pension plans may become more significant. The ultimate amounts to be contributed are dependent upon, among other things, interest rates, underlying asset returns and the impact of legislative or regulatory changes related to pension funding obligations. For a discussion regarding the significant assumptions used to estimate pension expense, including discount rate, expected long-term rate of return on plan assets and mortality, and how our financial statements can be affected by pension plan accounting policies, see “Critical Accounting Policies” included in Item 7, "Management’s Discussion and Analysis of Financial Condition and Results of Operations.”

The failure to successfully integrate Spartech may adversely affect future results.

The success of our acquisition of Spartech will depend, in part, on our ability to realize anticipated benefits from combining the businesses of PolyOne and Spartech. To realize these anticipated benefits, the businesses of PolyOne and Spartech must be successfully combined. If we are not able to achieve these objectives, the anticipated benefits of the merger may not be realized fully or at all or may take longer to realize than expected.

As a result of the Spartech acquisition, we are undergoing restructurings that may cause disruption or could have an adverse effect on our business and operations.

We are undergoing certain restructurings and intended to realize certain of the potential synergies of our acquisition of Spartech. There can be no assurance that such restructurings and reorganizations will be successful or properly implemented. If any of such internal restructurings are not successful or properly implemented, we may fail to realize the potential synergies of the acquisition, which may harm our business and results of operations or cause disruptions to our operations, including disruption in our supply chain or loss of customers.

Increased IT security threats and more sophisticated and targeted computer crime could pose a risk to our systems, networks, and products.

Increased global IT security threats and more sophisticated and targeted computer crime pose a risk to the security of our systems and networks and the confidentiality, availability and integrity of our data and communications. While we attempt to mitigate these risks by employing a number of measures, including employee training, comprehensive monitoring of our networks and systems, and maintenance of backup and protective systems, our systems, networks and products remain potentially vulnerable to advanced persistent threats. Depending on their nature and scope, such threats could potentially lead to the compromising of confidential information and communications, improper use of our systems and networks, manipulation and destruction of data, defective products, production downtimes and operational disruptions, which in turn could adversely affect our reputation, competitiveness and results of operations.

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ITEM 1B.UNRESOLVED STAFF COMMENTS

None.

ITEM 2.PROPERTIES

Headquartered in Avon Lake, Ohio we operate globally with principal locations consisting of 75 manufacturing sites and eight distribution facilities in North America, South America, Europe and Asia. We own the majority of our manufacturing sites and lease our distribution facilities. We believe that the quality and production capacity of our facilities is sufficient to maintain our competitive position for the foreseeable future. The following table identifies the principal facilities of our segments:

Performance Products and Solutions	Global Specialty Engineered Materials	Global Color, Additives and Inks	PolyOne Distribution	Designed Structures and Solutions
1. Long Beach, California	1. McHenry, Illinois	1.  Glendale, Arizona	1. Rancho Cucamonga,	1. Cape Giardeau,
2. Terre Haute, Indiana	2.  Avon Lake, Ohio	2. Kennesaw, Georgia	California	Missouri
3. Louisville, Kentucky	Dyersburg, Tennessee (1)	Suwanee, Georgia (3)	2. Chicago, Illinois	2. Goodyear, Arizona
4. Avon Lake, Ohio	3.  North Haven, Connecticut	3.  Elk Grove Village, Illinois	3. Eagan, Minnesota	3. Greenville, Ohio
5. Clinton, Tennessee	Seabrook, Texas (1)	4.  St. Louis, Missouri	4. Edison, New Jersey	4. Hackensack,
6. Dyersburg, Tennessee	4.  Gaggenau, Germany	5. Sullivan, Missouri	5. Statesville, North	New Jersey
7 Pasadena, Texas	5.  Istanbul, Turkey	6. Massillon, Ohio	Carolina	5. La Mirada, California
8. Seabrook, Texas	6. Barbastro, Spain	7.  Norwalk, Ohio	6. Elyria, Ohio	6. Manitowoc, Wisconsin
9 Orangeville, Ontario,	7. Melle, Germany	8.  North Baltimore, Ohio	7. La Porte, Texas	7. McMinnville, Oregon
Canada	8  & 9. Suzhou, China (2)	9. Lehigh, Pennsylvania	8. Brampton, Ontario,	8. Muncie, Indiana
10. St. Remi de Napierville,	10. Shenzhen, China	10. Vonore, Tennessee	Canada	9. Newark, New Jersey
Quebec, Canada	11. Birmingham, Alabama	11. Toluca, Mexico	(8 Distribution Facilities)	10. Paulding, Ohio
11. Dongguan, China	Shanghai, China (3)	12. Assesse, Belgium		11. Pleasant Hill, Iowa
12. Lockport, New York	(11 Manufacturing Plants)	13. Cergy, France		12. Portage, Wisconsin
13. Ramos Arizpe, Mexico		14. Tossiat, France		13. Ripon, Wisconsin
(13 Manufacturing Plants)		15. Gyor, Hungary		14. Salisbury, Maryland
		16. Kutno, Poland		15. Sheboygan Falls,
		17. Pune, India		Wisconsin
		18. Pamplona, Spain		16. Stamford, Connecticut
		19. Bangkok, Thailand		17. Wichita, Kansas
		20. Pudong (Shanghai),		18. Granby,
		China		Quebec, Canada
		21. Jeddah, Saudi Arabia		Maryland Heights,
		Shenzhen, China (1)		Missouri (3)
		22. Tianjin, China		(18) Manufacturing Plants
		23. Novo Hamburgo, Brazil
		24. Berea, Ohio
		25. Richland Hills, Texas
		26. Bethel, Connecticut
		27. Barberton, Ohio
		28. Knowsley, United
		Kingdom
		29. Eindhoven,Netherlands
		30. Suzhou, China
		31. Shanghai, China
		32. Itupeva, Brazil
		33. Odkarby, Finland
		Manitowoc, Wisconsin (1)
		(33 Manufacturing Plants)

(1) Facility is not included in manufacturing plants total as it is also included as part of another segment.

(2) There are two manufacturing plants located at Suzhou, China.

(3) Facility is not included in manufacturing plants total as it is a design center/lab.

14POLYONE CORPORATION

ITEM 3.LEGAL PROCEEDINGS

Information regarding other legal proceedings can be found in Note 13,Commitments and Contingencies, to the consolidated financial statements and is incorporated by reference herein.

ITEM 4.MINE SAFETY DISCLOSURES

Not applicable.

EXECUTIVE OFFICERS OF THE REGISTRANT

Executive officers are elected by our Board of Directors to serve one-year terms. The following table lists the name of each person currently serving as an executive officer of the Company, their age as of February 13, 2015 and current position with the Company:

Name	Age	Position
Stephen D. Newlin	62	Executive Chairman
Robert M. Patterson	42	President and Chief Executive Officer
Bradley C. Richardson	56	Executive Vice President and Chief Financial Officer
Mark D. Crist	56	Senior Vice President, President of Distribution
Michael A. Garratt	51	Senior Vice President, President of Performance Products and Solutions
Michael E. Kahler	57	Senior Vice President, Chief Commercial Officer
Julie A. McAlindon	47	Senior Vice President, President of Designed Structures and Solutions
M. John Midea, Jr.	50	Senior Vice President, Global Operations and Process Improvement
Craig M. Nikrant	53	Senior Vice President, President of Global Specialty Engineered Materials
Ana G. Rodriguez	47	Senior Vice President, Chief Human Resource Officer
John V. Van Hulle	57	Senior Vice President, President of Global Color, Additives and Inks

Stephen D. Newlin: Executive Chairman, May 2014 to date. Chairman, President and Chief Executive Officer, February 2006 to May 2014. President — Industrial Sector of Ecolab Inc. (a global developer and marketer of cleaning and sanitizing specialty chemicals, products and services) from 2003 to 2006. Mr. Newlin served as President and a Director of Nalco Chemical Company (a manufacturer of specialty chemicals, services and systems) from 1998 to 2001, and was Chief Operating Officer and Vice Chairman from 2000 to 2001. Mr. Newlin serves on the Board of Directors of Black Hills Corporation, Oshkosh Corporation and Univar Corporation.

Robert M. Patterson: President and Chief Executive Officer, May 2014 to date. Executive Vice President and Chief Operating Officer, March 2012 to May 2014. Executive Vice President and Chief Financial Officer, January 2011 to March 2012. Senior Vice President and Chief Financial Officer, May 2008 to January 2011. Vice President and Treasurer of Novelis, Inc. (an aluminum rolled products manufacturer) from 2007 to May 2008. Vice President, Controller and Chief Accounting Officer of Novelis from 2006 to 2007. Mr. Patterson served as Vice President and Segment Chief Financial Officer, Thermal and Flow Technology Segments of SPX Corporation (a multi-industry manufacturer and developer) from 2005 to 2006 and as Vice President and Chief Financial Officer, Cooling Technologies and Services of SPX from 2004 to 2005. Mr. Patterson served as Vice President and Chief Financial Officer of Marley Cooling Tower Company, a cooling tower manufacturer and subsidiary of SPX, from 2002 to 2004.

Bradley C. Richardson: Executive Vice President and Chief Financial Officer, November 2013 to date. Executive Vice President and Chief Financial Officer of Diebold, Incorporated (an integrated self-service delivery manufacturer for the banking industry and security systems) from November 2009 through November 2013. Executive Vice President, Corporate Strategy and Chief Financial Officer at Modine Manufacturing Company (a manufacturer of thermal management systems and components) from 2003 to 2009. Vice President, Performance Management Planning and Control, Chief Financial Officer, Upstream, BP Amoco, London, (a producer of oil, natural gas, and petro chemicals) 2000 to 2003. Mr. Richardson serves on the Board of Directors of Brady Corporation and is Chair of its Audit Committee.

Mark D. Crist: Senior Vice President, President of Distribution, June 2014 to date. Vice President, Global Key Accounts and Vice President of Asia January 2012 to May 2014. Global Commercial Director of Geon Performance Materials June 2008 to December 2011. General Manager Nalco Chemical Company Europe April 2006 to March 2008. General Manager Nalco Chemical Company North America June 2003 to March 2006. Marketing Manager Nalco Europe December 1999 to May 2003. Regional Sales Manager Nalco Chemical Company March 1997 to November 1999.

Michael A. Garratt: Senior Vice President, President of Performance Products and Solutions, September 2013 to date. President, Marmon Utility (a manufacturer of medium-high voltage utility, subsea and down-hole power cables and molded insulator systems), March 2011 to September 2013. Chief Operating Officer, Excel Polymers (a custom

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thermoset rubber formulator), November 2009 to December 2010. Vice President and General Manager - Americas Compounding and Performance Additives, Excel Polymers, March 2009 to November 2009. Vice President and General Manager - Industrial and Consumer, Excel Polymers, December 2005 to March 2009. From August 1994 to June 2005, Mr. Garratt worked for DuPont Dow Elastomers, a joint venture of Dupont and Dow (global manufacturers of engineered thermoset rubber and thermoplastic elastomer materials) in market development and product management positions, culminating in a regional commercial leadership role for Europe, the Middle East and Africa.

Michael E. Kahler: Senior Vice President, Chief Commercial Officer, January 2010 to date. Senior Vice President, Commercial Development, May 2006 to January 2010. President, Process Technology Division, Alfa Laval Inc. (a global provider of heat transfer, separation and fluid handling products and engineering solutions) from January 2004 to March 2006. Group Vice President, Nalco Chemical Company (a manufacturer of specialty chemicals, services and systems) from December 1999 to October 2002.

Julie McAlindon: Senior Vice President, President of Designed Structures and Solutions, March 2013 to date. Vice President of Marketing, May 2010 to March 2013. Global Corporate Account Director, Dow Advanced Materials, The Dow Chemical Company (a global provider of chemicals and plastics) July 2009 to May 2010, Global Strategic Marketing Director, Dow Coating Solutions, The Dow Chemical Company, March 2008 to July 2009. Global Business Director, Polypropylene, The Dow Chemical Company, May 2007 to March 2008. Senior Product Director, Solution Polyethylene, The Dow Chemical Company, May 2005 to May 2007. Global Marketing Executive, UCON™ Fluids and Lubricants, The Dow Chemical Company, March 2002 to May 2005.

M. John Midea, Jr.: Senior Vice President, Global Operations and Process Improvement, February 2015 to date. President and Chief Executive Officer, Resco Products (a refractory products company) from August 2012 to October 2014.   President and Chief Operating Officer, Ennis Traffic Safety Solutions (a traffic safety and infrastructure company) from June 2008 to July 2012.  Vice President, North American - General Industrial, Valspar Corporation (a manufacturer of paints and coatings) from June 2007 to May 2008.  Vice President and General Manager, Power Coatings, Valspar Corporation from February 2002 to June 2007.

Craig M. Nikrant: Senior Vice President, President of Global Specialty Engineered Materials, January 2010 to date. Vice President and General Manager, Specialty Engineered Materials, September 2006 to December 2009. General Manager, Specialty Film & Sheet, General Electric Plastics, June 2004 to September 2006. Director, Global Commercial Effectiveness, General Electric Plastics (a former division of General Electric specializing in supplying plastics), December 2003 to June 2004. Six Sigma Master Black Belt, General Electric Company Plastics Business, March 2001 to December 2002. General Manager, Commercial Operations, North Central Region, General Electric Plastics, June 1999 to March 2001.

Ana G. Rodriguez: Senior Vice President, Chief Human Resources Officer, May 2014 to date.  Senior Vice President, Global Human Resources, Molex Incorporated (a manufacturer of electronic connectors), September 2008 to March 2014. Vice President, Co-General Counsel and Corporate Secretary, Molex, September 2006 to August 2008, Vice President and Assistant General Counsel, Molex, October 2005 to September 2006.  Senior Counsel, Amgen Inc. (a global biotechnology medicines company), May 2003 to September 2005.  Senior Counsel and Assistant Corporate Secretary, Tenet Healthcare Corporation (a health care services company) May 2000 to May 2003.

John V. Van Hulle: Senior Vice President, President of Global Color, Additives and Inks, January 2010 to date. Senior Vice President and General Manager, Specialty Color, Additives and Inks, July 2006 to January 2010. President and Chief Executive Officer — ChemDesign Corporation (a custom chemical manufacturer), December 2001 to July 2006. President, Specialty & Fine Chemicals — Cambrex Corporation (a specialty chemical and pharmaceutical business) August 1994 to November 2000.

16POLYONE CORPORATION

PART II

ITEM 5.MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

The following table sets forth the range of the high and low sale prices for our common shares, $0.01 par value per share, as reported by the New York Stock Exchange, where the shares are traded under the symbol “POL,” for the periods indicated:

	2014 Quarters								2013 Quarters
Common share price:	Fourth		Third		Second		First		Fourth		Third		Second		First
High	$	39.28	$	43.34	$	42.47	$	38.38	$	35.77	$	30.96	$	26.84	$	25.63
Low	$	32.01	$	34.78	$	36.02	$	32.81	$	28.66	$	24.76	$	21.42	$	20.96

As of January 31, 2015, there were 2,221 holders of record of our common shares.

The following table presents quarterly dividends declared per common share for the fiscal year ended December 31, 2014 and 2013

Quarter Ended:	2014		2013
March 31,	$	0.08	$	0.06
June 30,	0.08		0.06
September 30,	0.08		0.06
December 31,	0.10		0.08
Total	$	0.34	$	0.26

The table below sets forth information regarding repurchase of shares of our common shares during the period indicated. For the full year 2014, we repurchased 6.3 million shares at a weighted average share price of $37.00.

Period	Total Number of Shares Purchased	Weighted Average Price Paid Per Share		Total Number of Shares Purchased as Part of Publicly Announced Program	Maximum Number of Shares that May Yet be Purchased Under the Program (1)
October 1 to October 31	550,000	$	35.25	550,000	9,750,000
November 1 to November 30	750,000	37.55		750,000	9,000,000
December 1 to December 31	300,000	35.31		300,000	8,700,000
Total	1,600,000	$	36.34	1,600,000

(1) In August 2008, PolyOne's Board of Directors approved a common shares repurchase program authorizing PolyOne to purchase up to 10.0 million shares of its common shares. On October 11, 2011 and October 23, 2012, PolyOne's Board of Directors increased the common shares repurchase authorization by an additional 5.3 million and 13.2 million, respectively. As of December 31, 2014, 8.7 million shares remained available under the share repurchase authorization.

17POLYONE CORPORATION

ITEM 6.SELECTED FINANCIAL DATA

Refer to Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” in Part II of this Annual Report on Form 10-K and the notes to our accompanying consolidated financial statements for additional information regarding the financial data presented below, including matters that might cause this data not to be indicative of our future financial condition, results of operations or cash flows.

(In millions, except per share data)	2014(1)		2013(2)		2012(3)		2011(4)		2010(5)
Sales	$	3,835.5	$	3,771.2	$	2,860.8	$	2,709.4	$	2,506.2
Operating income	155.1		231.5		137.5		203.0		159.2
Net income from continuing operations, net of income tax	77.2		92.9		53.2		153.4		152.5
Net income from continuing operations attributable to PolyOne shareholders	78.0		94.0		53.3		153.4		152.5
Cash dividends declared per common share	$	0.34	$	0.26	$	0.20	$	0.16	$	—
Earnings per share from continuing operations attributable to PolyOne shareholders:
Basic	$	0.85	$	0.98	$	0.60	$	1.66	$	1.64
Diluted	$	0.83	$	0.97	$	0.59	$	1.63	$	1.59
Total assets	$	2,711.2	$	2,944.1	$	2,128.0	$	2,078.1	$	1,671.9
Long-term debt, net of current portion	$	962.0	$	976.2	$	703.1	$	704.0	$	432.9

(1) Included in operating income for 2014 are: 1) a mark-to-market charge related to our pension and post-retirement health care benefit plans of $56.5 million, 2) expenses of $94.1 million related to employee separation and restructuring costs and reductions in force and 3) expenses of $10.3 million related to environmental remediation costs.

(2) Included in operating income for 2013 are: 1) gains of $26.9 million primarily related to the 2013 SunBelt Chlor Alkali Partnership (SunBelt) earn-out, 2) a mark-to-market gain related to our pension and OPEB plans of $44.0 million, 3) expenses of $61.2 million related to environmental remediation costs, 4) insurance recoveries of $23.5 million, 5) a $7.0 million gain on commercial litigation, 6) expenses of $52.0 million related to employee separation and restructuring costs and 7) acquisition-related costs (including inventory fair value adjustments) of $15.2 million.

(3) Included in operating income for 2012 are: 1) gains of $23.4 million for the 2012 SunBelt earn-out , 2) a mark-to-market loss related to our pension and OPEB plans of $42.0 million, 3) expenses of $12.8 million related to environmental remediation costs, 4) expenses of $11.5 million related to employee separation and restructuring costs and 5) acquisition-related costs of $9.3 million.

(4) Included in operating income for 2011 are: 1) gains of $146.3 million related to the sale of our equity interest in SunBelt Chlor Alkali Partnership (SunBelt), which includes the 2011 earn-out of $18.1 million, 2) a mark-to-market charge related to our pension and OPEB plans of $83.8 million, 3) environmental remediation costs of $9.7 million and 4) acquisition-related costs of $6.6 million. Included in net income for 2011 is a $29.5 million tax benefit related to our investment in O’Sullivan Engineered Films and a $13.0 million tax benefit primarily related with the reversal of valuation allowances.

(5) Included in operating income for 2010 are: 1) gains of $23.9 million related to legal and insurance settlements, 2) insurance recoveries of $16.7 million related to reimbursement of previously incurred environmental expenses, 3) a gain of $16.3 million related to the sale of our 50% interest in BayOne, a previously owned equity affiliate and part of Bayer MaterialScience LLC, 4) debt extinguishment costs of $29.5 million, 5) environmental remediation costs of $20.5 million and 6) a mark-to-market charge related to our pension and OPEB plans of $9.6 million. Included in net income are tax benefits of $107.1 million associated with the reversal of our valuation allowances.

18POLYONE CORPORATION

ITEM 7.MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Overview

Management’s Discussion and Analysis of Financial Condition and Results of Operations (MD&A) is designed to provide information that is supplemental to, and should be read together with, our consolidated financial statements and the accompanying notes contained in this Annual Report on Form 10-K. Information in this Item 7 is intended to assist the reader in obtaining an understanding of our consolidated financial statements, the changes in certain key items in those financial statements from year to year, the primary factors that accounted for those changes, and any known trends or uncertainties that we are aware of that may have a material effect on our future performance, as well as how certain accounting principles affect our consolidated financial statements.

The following discussion contains forward-looking statements that reflect our plans, estimates and beliefs. Our actual results could differ materially from those discussed in these forward-looking statements. Factors that could cause or contribute to these differences include, but are not limited to, those discussed below and elsewhere in this Annual Report on Form 10-K, particularly in “Cautionary Note on Forward-Looking Statements” and Item 1A, “Risk Factors.”

Our Business

We are a premier provider of specialized polymer materials, services and solutions with operations in specialty polymer formulations, color and additive systems, plastic sheet and packaging solutions and polymer distribution. We are also a highly specialized developer and manufacturer of performance enhancing additives, liquid colorants, and fluoropolymer and silicone colorants. Headquartered in Avon Lake, Ohio, with 2014 sales of $3.8 billion, we have manufacturing sites and distribution facilities in North America, South America, Europe, Asia and Africa. We currently employ approximately 6,900 people and offer more than 35,000 polymer solutions to over 10,000 customers across the globe. We provide value to our customers through our ability to link our knowledge of polymers and formulation technology with our manufacturing and supply chain capabilities to provide value-added solutions to designers, assemblers and processors of plastics (our customers).

Business Model and Key Concepts

The central focus of our business model is to provide specialized material and service solutions to our customers by leveraging our global footprint, product and technology breadth, manufacturing expertise, fully integrated information technology network, broad market reach and raw material procurement strength. These resources enable us to capitalize on dynamic changes in the end markets we serve, which include transportation, packaging, building and construction, industrial, healthcare, consumer, wire and cable, electrical and electronics, and appliance.

Key Challenges

Overall, our business faces exposure resulting from economic downturns, especially as it relates to affected markets such as building and construction, consumer, electrical, and industrial. Increasing profitability during periods of raw material price volatility is another critical challenge. Further, we need to capitalize on the opportunity to accelerate development of products that meet a growing body of environmental laws and regulations such as lead and phthalate restrictions included in the Restrictions on the Use of Certain Hazardous Substances and the Consumer Product Safety Information Act of 2008.

Strategy and Key Trends

To address these challenges and achieve our vision, we have implemented a strategy with four core components: specialization, globalization, operational excellence and commercial excellence. Specialization differentiates us through products, services, technology, and solutions that add value. Globalization allows us to service our customers with consistency wherever their operations might be around the world. Operational excellence empowers us to respond to the voice of the customer while focusing on continuous improvement. Commercial excellence enables us to deliver value to customers by supporting their growth and profitability.

In the short term, we will maintain our focus on top-line growth, improving or maintaining the cost/price relationship with regard to raw materials and improving working capital efficiency. In addition to driving top-line growth, we have established margin improvement targets for all businesses. In 2015, our capital expenditures will be focused primarily to support sales growth, our continued investment in the Spartech integration activities, and other strategic investments. We also continue to consider acquisitions and other synergy opportunities that complement our core

19POLYONE CORPORATION

platforms. These actions will ensure that we continue to invest in capabilities that advance the pace of our transformation and continue to support growth in key markets and product offerings.

We will continue our enterprise-wide Lean Six Sigma program directed at improving profitability and cash flow by applying proven management techniques and strategies to key areas of the business, such as pricing, supply chain and operations management, productivity and quality. Long-term trends that currently provide opportunities to leverage our strategy include the drive toward sustainability in polymers and their processing, the emergence of biodegradable and bio-based polymers, consumer concern over the use of bisphenol-A (BPA) in infant-care products and developing legislation that bans lead and certain phthalates from toys and child-care items.

Recent Developments

On December 1, 2014, the Company completed the acquisition of specialty assets of Accella, a leading North American manufacturer of liquid polymer formulations for $47.2 million in cash, net of cash acquired. The results of operations of Accella were included in the Company’s Consolidated Statements of Income since the date of the acquisition and are reported in the Global Color, Additives and Inks segment.

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Highlights and Executive Summary

A summary of PolyOne’s sales, operating income, income from continuing operations net of income taxes, net income from continuing operations attributable to PolyOne common shareholders, liquidity and total debt is included in the following table:

(In millions)	2014		2013		2012
Sales	$	3,835.5	$	3,771.2	$	2,860.8
Operating income	155.1		231.5		137.5
Income from continuing operations, net of income taxes	77.2		92.9		53.2
Net income from continuing operations attributable to PolyOne common shareholders	78.0		94.0		53.3
Liquidity	$	475.0	$	650.9	$	381.2
Total debt	$	1,023.8	$	988.9	$	706.9

21POLYONE CORPORATION

Results of Operations										Variances — Favorable (Unfavorable)
										2014 versus 2013					2013 versus 2012
(Dollars in millions, except per share data)	2014			2013			2012			Change			% Change		Change			% Change
Sales	$	3,835.5		$	3,771.2		$	2,860.8		$	64.3		1.7	%	$	910.4		31.8	%
Cost of sales	3,127.6			3,109.0			2,329.7			(18.6		)	(0.6	)%	(779.3		)	(33.5	)%
Gross margin	707.9			662.2			531.1			45.7			6.9	%	131.1			24.7	%
Selling and administrative expense	552.8			457.6			417.0			(95.2		)	(20.8	)%	(40.6		)	(9.7	)%
Income related to previously owned equity affiliates	—			26.9			23.4			(26.9		)	(100.0	)%	3.5			15.0	%
Operating income	155.1			231.5			137.5			(76.4		)	(33.0	)%	94.0			68.4	%
Interest expense, net	(62.2		)	(63.5		)	(50.8		)	1.3			2.0	%	(12.7		)	(25.0	)%
Debt extinguishment costs	—			(15.8		)	—			15.8			100.0	%	(15.8		)	(100.0	)%
Other expense, net	(4.5		)	(1.2		)	(3.4		)	(3.3		)	(275.0	)%	2.2			64.7	%
Income from continuing operations, before income taxes	88.4			151.0			83.3			(62.6		)	(41.5	)%	67.7			81.3	%
Income tax expense	(11.2		)	(58.1		)	(30.1		)	46.9			80.7	%	(28.0		)	(93.0	)%
Net income from continuing operations	$	77.2		$	92.9		$	53.2		$	(15.7	)	(16.9	)%	$	39.7		74.6	%
Income from discontinued operations, net of income taxes	1.2			149.8			18.6			(148.6		)	(99.2	)%	131.2			705.4	%
Net income	78.4			242.7			$	71.8		(164.3		)	(67.7	)%	170.9			238.0	%
Net loss attributable to noncontrolling interests	0.8			1.1			0.1			(0.3		)	(27.3	)%	1.0			1,000.0	%
Net income attributable to PolyOne common shareholders	$	79.2		$	243.8		$	71.9		$	(164.6	)	(67.5	)%	$	171.9		239.1	%
Earnings per share attributable to PolyOne common shareholders - basic:
Continuing operations	$	0.85		$	0.98		$	0.60
Discontinued operations	0.01			1.57			0.21
Total	$	0.86		$	2.55		$	0.81
Earnings per share attributable to PolyOne common shareholders - diluted:
Continuing operations	$	0.83		$	0.97		$	0.59
Discontinued operations	0.02			1.56			0.21
Total	$	0.85		$	2.53		$	0.80

Sales

Sales increased 1.7% in 2014 compared to 2013. The acquisition of Spartech increased sales 5.2%, while improved mix and pricing increased sales 3.7%. Partially offsetting these increases were declines of 7.0% primarily a result of softening demand in Europe and the wire and cable end market along with the exit of certain product lines in Brazil.

Sales increased 31.8% in 2013 compared to 2012, 30.6% of which is attributable to the acquisitions of Spartech and Glasforms Inc. (Glasforms). Improved mix and increased pricing, primarily associated with higher raw material costs, increased sales 3.3%, while favorable currency exchange rates impacted sales by 0.4%. These increases were partially offset by declines of 2.5% primarily a result of weakened demand in our North America wire and cable business and in Europe.

Cost of sales

As a percent of sales, cost of sales decreased from 82.4% in 2013 to 81.5% in 2014 primarily due to improved price and mix and the exiting of certain product lines in Brazil and Spartech.

As a percent of sales, cost of sales increased from 81.4% in 2012 to 82.4% in 2013 primarily due to a $15.7 million increase in restructuring charges as a result of the Spartech re-alignment actions, and a $24.9 million increase in net environmental charges, primarily related to the revision to our Calvert City reserve of $47.0 million, offset by insurance recoveries of $23.5 million. Additionally, the increase in costs of goods sold was impacted by Spartech sales, which have lower margins than organic PolyOne sales. These items more than offset PolyOne's organic margin improvement.

22POLYONE CORPORATION

Selling and administrative expense

These costs include selling, technology, administrative functions, corporate and general expenses. Selling and administrative expense in 2014 increased $95.2 million, primarily related to increased restructuring costs of $11.4 million, a full year of results of Spartech and a $96.9 million unfavorable difference in the pension and other post-retirement mark-to-market adjustment. In 2014, we recognized a pension charge of $54.5 million compared to a pension gain of $42.4 million in 2013. The 2014 mark-to-market adjustment was driven primarily by decreased discount rates and a change in our mortality assumptions. These increases more than offset decreased discretionary spending and lower acquisition-related costs of $4.0 million primarily associated with Spartech.

Selling and administrative expense in 2013 increased $40.6 million, primarily related to acquisitions and acquisition-related costs totaling $70.3 million, increased restructuring costs of $24.8 million and increased stock based compensation expense of $6.1 million. Additionally, organic segment selling and administrative expense increased $16.3 million, primarily driven by additional commercial resources and inflation. These increases more than offset a commercial litigation gain of $7.0 million, and a $83.1 million favorable difference in the pension and other post-retirement mark-to-market adjustment. In 2013, we recognized a pension gain of $42.4 million compared to a charge of $40.7 million in 2012. The 2013 mark-to-market adjustment was driven primarily by increased discount rates and returns on plan assets in excess of our weighted average assumed rate of return of 8.41% on plan assets in 2013.

Income Related to Previously Owned Equity Affiliates

Effective February 28, 2011, we sold our 50% equity investment in SunBelt and recognized a pre-tax gain of $128.2 million. During 2012 and 2013, we recognized a gain of $23.4 million and $26.9 million, respectively, related to the final earn-outs associated with the sale. The gains associated with our sale of our equity investment in SunBelt are reflected within Corporate and eliminations in our segment reporting.

Interest expense, net

Interest expense, net decreased $1.3 million in 2014 compared to 2013, primarily due to the remaining amortization of the Spartech bridge loan commitment fees of $1.9 million in 2013.

Interest expense, net increased $12.7 million in 2013 compared to 2012, primarily due to higher average borrowing levels in 2013 related to the 5.25% senior notes due 2023 issued on February 28, 2013, in connection with the Spartech acquisition.

Debt extinguishment costs

Debt extinguishment costs of $15.8 million for 2013 includes $5.2 million related to the repurchase of $43.4 million aggregate principal amount of our 7.375% senior notes due 2020 and $1.3 million aggregate principal amount of our 7.50% debentures due 2015. Debt extinguishment costs for 2013 also includes $10.6 million related to the repayment of the outstanding principal amount of $297.0 million under our senior secured term loan.

Income tax expense from continuing operations

Income tax expense from continuing operations was $11.2 million, an effective rate of 12.7%, for 2014 compared to $58.1 million, an effective rate of 38.5%, for 2013. The lower effective rate for 2014 was driven by $13.4 million, a 15.2% decline in our effective rate, of tax benefits associated with our investments in certain foreign affiliates in addition to favorable settlements and tax return amendments with U.S. and foreign tax authorities of $6.0 million, a 6.8% decline in our effective rate.

Income tax expense from continuing operations was $58.1 million, an effective rate of 38.5%, for 2013 compared to $30.1 million, an effective rate of 36.1%, for 2012. The higher effective rate for 2013 was driven primarily by a shift in earnings to the United States as a result of the acquisitions of Spartech and Glasforms, which have earnings primarily in the United States.

Segment Information

Operating income is the primary financial measure that is reported to the chief operating decision maker for purposes of making decisions about allocating resources to the segment and assessing its performance. Operating income at the segment level does not include: corporate general and administrative costs that are not allocated to segments; intersegment sales and profit eliminations; charges related to specific strategic initiatives, such as the consolidation of operations; restructuring activities, including employee separation costs resulting from personnel reduction programs, plant closure and phase-in costs; integration costs; executive separation agreements; share-based compensation costs; environmental remediation costs for facilities no longer owned or closed in prior years;

23POLYONE CORPORATION

gains and losses on the divestiture of joint ventures and equity investments; actuarial gains and losses related to pension and post-retirement benefit plans; and certain other items that are not included in the measure of segment profit or loss that is reported to and reviewed by the chief operating decision maker. These costs are included in Corporate and eliminations.

PolyOne has five reportable segments: (1) Global Color, Additives and Inks; (2) Global Specialty Engineered Materials; (3) Designed Structures and Solutions; (4) Performance Products and Solutions; and (5) PolyOne Distribution.

Our segments are further discussed in Note 16,Segment Information, to the accompanying consolidated financial statements.

Sales and Operating Income — 2014 compared with 2013 and 2013 compared with 2012

										2014 versus 2013					2013 versus 2012
(Dollars in millions)	2014			2013			2012			Change			% Change		Change			% Change
Sales:
Global Color, Additives and Inks	850.8			852.3			778.2			(1.5		)	(0.2	)%	74.1			9.5	%
Global Specialty Engineered Materials	598.3			615.5			543.6			(17.2		)	(2.8	)%	71.9			13.2	%
Designed Structures and Solutions	617.5			597.4			—			20.1			3.4	%	597.4			100.0	%
Performance Products and Solutions	816.6			773.2			630.3			43.4			5.6	%	142.9			22.7	%
PolyOne Distribution	1,114.4			1,075.2			1,030.3			39.2			3.6	%	44.9			4.4	%
Corporate and eliminations	(162.1		)	(142.4		)	(121.6		)	(19.7		)	(13.8	)%	(20.8		)	(17.1	)%
Sales	$	3,835.5		$	3,771.2		$	2,860.8		$	64.3		1.7	%	$	910.4		31.8	%
Operating income:
Global Color, Additives and Inks	124.9			104.0			75.3			20.9			20.1	%	28.7			38.1	%
Global Specialty Engineered Materials	72.4			57.2			47.0			15.2			26.6	%	10.2			21.7	%
Designed Structures and Solutions	45.1			33.4			—			11.7			35.0	%	33.4			100.0	%
Performance Products and Solutions	63.1			56.0			38.8			7.1			12.7	%	17.2			44.3	%
PolyOne Distribution	68.2			63.3			66.0			4.9			7.7	%	(2.7		)	(4.1	)%
Corporate and eliminations	(218.6		)	(82.4		)	(89.6		)	(136.2		)	(165.3	)%	7.2			(8.0	)%
Operating income	$	155.1		$	231.5		$	137.5		$	(76.4	)	(33.0	)%	$	94.0		68.4	%
Operating income as a percentage of sales:
Global Color, Additives and Inks	14.7		%	12.2		%	9.7		%	2.5% points					2.5% points
Global Specialty Engineered Materials	12.1		%	9.3		%	8.6		%	2.8% points					0.7% points
Designed Structures and Solutions	7.3		%	5.6		%	—		%	1.7% points					—
Performance Products and Solutions	7.7		%	7.2		%	6.2		%	0.5% points					1.0% points
PolyOne Distribution	6.1		%	5.9		%	6.4		%	0.2% points					(0.5)% points
Total	4.0		%	6.1		%	4.8		%	(2.1)% points					1.3% points

Global Color, Additives and Inks

Sales decreased $1.5 million, or 0.2%, in 2014 compared to 2013. Sales decreased 8.0% primarily as a result of weaker demand conditions in Europe and an unfavorable foreign exchange rate impact of 0.4%. These decreases were largely offset by mix improvement of 6.2% and an increase of 2.0% due to the inclusion of a full year of Spartech results.

Operating income increased $20.9 million in 2014 compared to 2013.This increase was driven by year to date margin expansion related to mix improvement primarily in North America and Asia.

Sales increased $74.1 million, or 9.5%, in 2013 compared to 2012. Sales increased 8.0% as a result of the Spartech acquisition, 6.8% due to improved price and mix and 0.9% due to favorable exchange rate impact. These increases were partially offset by a 6.2% decline in volume primarily in the industrial and packaging end markets.

Operating income increased $28.7 million in 2013 compared to 2012.The increase is primarily due to improvement in mix and the Spartech acquisition.

24POLYONE CORPORATION

Global Specialty Engineered Materials

Sales decreased $17.2 million, or 2.8%, in 2014 compared to 2013. Improved price and mix resulted in a 4.8% increase to sales while the inclusion of a full year of results in Spartech increased sales 0.6%. These increases were more than offset by decreases of 7.8% primarily due to exiting certain product lines in Brazil and an unfavorable foreign exchange rate impact of 0.4%.

Operating income increased $15.2 million in 2014 compared to 2013. This increase was driven primarily by margin expansion resulting from improved mix and exiting certain unprofitable products in Brazil.

Sales increased $71.9 million, or 13.2%, in 2013 compared to 2012. Sales increased 10.0% due to the Spartech and Glasforms acquisitions and 2.6% due to organic sales primarily in the consumer and health care end markets, while favorable foreign exchange rates impacted sales by 0.6%.

Operating income increased $10.2 million in 2013 compared to 2012. This increase was driven primarily by organic improvements in sales and mix.

Designed Structures and Solutions

Sales increased $20.1 million, or 3.4%, in 2014 compared to 2013. Sales increased 22.1% as a result of the inclusion of Spartech results for the full year in 2014 and 6.5% due to improved mix and price. Partially offsetting these increases was a 25.0% decline resulting from exiting certain products.

Operating income increased $11.7 million, or 35.0%, in 2014 compared to 2013. This increase was driven primarily by improved mix reflecting the exit of certain unprofitable products, cost reductions related to North American realignment actions and the inclusion of Spartech results for the full year of 2014.

Performance Products and Solutions

Sales increased $43.4 million, or 5.6%, in 2014 compared to 2013. Sales increased 5.5% as a result of the acquisition of Spartech and 2.1% due to increases primarily within the industrial and transportation end markets. These increases were partially offset by unfavorable mix as the volume increases were associated with higher contract manufacturing sales.

Operating income increased $7.1 million in 2014 compared to 2013 primarily due to increased sales and cost reductions from the North American realignment actions.

Sales increased $142.9 million, or 22.7%, in 2013 compared to 2012. Sales increased 25.3% due to the Spartech acquisition and 2.2% due to improved pricing and mix. These increases were partially offset by volume declines of 4.8% primarily related to contract manufacturing for the transportation end markets.

Operating income increased $17.2 million in 2013 compared to 2012 primarily due to improved price and mix and the Spartech acquisition.

PolyOne Distribution

Sales increased $39.2 million, or 3.6%, in 2014 compared to 2013, primarily associated with higher raw material costs.

Operating income increased $4.9 million in 2014 compared to 2013 primarily due to increased sales and slightly lower selling and administrative expense.

Sales increased $44.9 million, or 4.4%, in 2013 compared to 2012. Increased pricing associated with higher raw material costs increased sales by 3.1%, while volume increases favorably impacted sales by 1.3%.

Operating income decreased $2.7 million in 2013 compared to 2012 primarily due to higher raw material costs.

25POLYONE CORPORATION

Corporate and Eliminations

The following table breaks down Corporate and eliminations into its various components for 2014, 2013 and 2012:

(In millions)	Year Ended December 31, 2014			Year Ended December 31, 2013			Year Ended December 31, 2012
Environmental remediation costs	$	(10.3	)	$	(61.2	)	$	(12.8	)
Insurance recoveries and other settlements (a)	3.7			30.5			—
Employee separation and restructuring costs (b)	(94.1		)	(52.0		)	(11.5		)
Gain on sale related to investment in equity affiliate (c)	—			26.9			23.4
Share based compensation	(14.2		)	(16.5		)	(10.4		)
Non-share based incentive compensation	(25.0		)	(25.2		)	(22.8		)
Pension and other post-retirement (expense)/income (d)	(51.5		)	55.2			(26.5		)
Acquisition-related costs, including inventory fair value adjustments	(3.8		)	(15.2		)	(9.3		)
All other and eliminations (e)	(23.4		)	(24.9		)	(19.7		)
Total Corporate and eliminations	$	(218.6	)	$	(82.4	)	$	(89.6	)

(a) These settlements primarily relate to the reimbursement of previously incurred environmental costs.

(b) Includes $59.7 million and $44.1 million in 2014 and 2013, respectively, of Spartech related restructuring as part of the Spartech integration designed to better serve customers, improve efficiency and deliver synergy related cost savings. 2014 also includes $17.0 million of charges related to our closure of two manufacturing locations in Brazil. Refer to Note 4, Employee Separation and Restructuring Costs, for further information about these actions and estimated future costs.

(c) On February 28, 2011, we sold our 50% equity interest in SunBelt to Olin Corporation (Olin). The gain for 2012 and 2013 primarily represents the second and final earn-outs related to the sale of our equity interest in SunBelt.

(d) We have elected to immediately recognize actuarial gains and losses in our operating results in the year in which the gains or losses occur related to our pension and other post-retirement benefit plans. Amounts shown here include the following mark-to-market adjustments: a$56.5 million charge in 2014, a $44.0 million gain in 2013 and a $42.0 million charge in 2012.

(e) All other and eliminations is comprised of intersegment eliminations and corporate general and administrative costs that are not allocated to segments.

Liquidity and Capital Resources

Our objective is to finance our business through operating cash flow and an appropriate mix of debt and equity. By laddering the maturity structure, we avoid concentrations of debt maturities, reducing liquidity risk. We may from time to time seek to retire or purchase our outstanding debt with cash and/or exchanges for equity securities, in open market purchases, privately negotiated transactions or otherwise. We may also seek to repurchase our outstanding common shares. Such repurchases, if any, will depend on prevailing market conditions, our liquidity requirements, contractual restrictions and other factors. The amounts involved may be material.

The following table summarizes our liquidity as of December 31, 2014:

	As of December 31,
(In millions)	2014
Cash and cash equivalents	$	238.6
Revolving credit availability	236.4
Liquidity	$	475.0

As of December 31, 2014, 91% of the Company’s cash and cash equivalents resided outside the United States. Repatriation of these funds could result in potential foreign and domestic taxes. To the extent foreign earnings previously treated as permanently reinvested were to be repatriated, the potential U.S. tax liability may be reduced by any foreign income taxes paid on these earnings. However, based on the Company’s policy of permanent reinvestment, it is not practicable to determine the U.S. federal income tax liability, if any. Determination of the amount of unrecognized deferred tax liabilities and related foreign withholding taxes is not practicable due to the complexities associated with this hypothetical calculation and the Company’s permanent reinvestment policy. As of December 31, 2014, the non-U.S. subsidiaries have a cumulative unremitted foreign earnings income position of $281.7 million, for which no deferred tax liability has been provided.

Based on current projections, we believe that we will be able to continue to manage and control working capital, discretionary spending and capital expenditures and that cash provided by operating activities, along with available borrowing capacity under our revolving credit facilities, should allow us to maintain adequate levels of available capital resources to fund our operations, meet debt service obligations and continue to repurchase our outstanding common shares.

26POLYONE CORPORATION

Expected sources of cash in 2015 include cash from operations, and available liquidity under our revolving credit facility, if needed. Expected uses of cash in 2015 include interest payments, cash taxes, contributions to our defined benefit pension plans, dividend payments, share repurchases, environmental remediation at inactive and formerly owned sites, restructuring payments, and capital expenditures. Capital expenditures are currently estimated to be $85.0 million in 2015, primarily to support sales growth, our continued investment in recent acquisitions and other strategic investments.

On March 1, 2013, the agreement governing our $300.0 million five-year senior secured revolving credit facility was amended and restated. The amendment and restatement resulted in an increase in commitments of $100.0 million for a maximum facility size of $400.0 million, subject to a borrowing base with advances against certain U.S. and Canadian accounts receivable and inventory. We have the option to increase the availability under the facility to $450.0 million, subject to meeting certain requirements and obtaining commitments for such increase. In connection with the amendment and restatement, we also extended the maturity date to March 1, 2018. As of December 31, 2014, we were in compliance with all covenants and there were $45.0 million of outstanding borrowings under our asset-backed revolving credit facility, which had availability of $233.7 million.

The Company maintains a credit line with Saudi Hollandi Bank for $16.0 million, with an interest rate equal to the Saudi Arabia Interbank Offered Rate plus a fixed rate of 0.85%. The credit line is being used to fund capital expenditures related to the manufacturing facility in Jeddah, Saudi Arabia and is subject to an annual renewal. As of December 31, 2014, letters of credit under the credit line were $0.2 million and borrowings were $13.1 million with an interest rate of 1.85%. As of December 31, 2014, there was remaining availability on the credit line of $2.7 million.

Cash Flows

The following summarizes our cash flows from operating, investing and financing activities.

(In millions)	2014			2013			2012
Cash provided by (used in):
Operating Activities	$	208.4		$	109.0		$	106.9
Investing Activities	(111.8		)	(60.1		)	(72.3		)
Financing Activities	(218.4		)	104.8			(17.5		)
Effect of exchange rate on cash	(4.8		)	1.5			1.0
Net (decrease) increase in cash and cash equivalents	$	(126.6	)	$	155.2		$	18.1

Operating activities

In 2014, net cash provided by operating activities was $208.4 million as compared to $109.0 million in 2013. The increase in net cash provided by operating activities of $99.4 million is primarily driven by lower tax payments of $51.6 million as 2013 included tax payments primarily associated with the gain on sale of the Resin Business, lower pension and post-retirement health care benefit plan payments of $49.5 million and improved working capital.

Working capital as a percentage of sales, which we define as the average thirteen months of accounts receivable, plus inventory, less accounts payable, divided by full year sales, improved to 9.9% at December 31, 2014 from 10.7% at December 31, 2013. Days sales outstanding as of December 31, 2014 andDecember 31, 2013 were 46.0 and 49.2, respectively.

In 2013, net cash provided by operating activities was $109.0 million as compared to $106.9 million in 2012. The increase in net cash provided by operating activities of $2.1 million is primarily driven by higher earnings and improved working capital, which more than offset increased income tax payments associated with higher earnings and the gain on the Resin Business sale.

Investing Activities

Net cash used by investing activities during 2014 of $111.8 million primarily reflects capital expenditures of $92.8 million and the acquisition of specialty assets of Accella for $47.2 million, net of cash acquired. This usage was partially offset by the third and final earn-out payment from the 2011 sale of our equity investment in SunBelt of $26.8 million and proceeds from the sale of other assets of $1.4 million.

Net cash used by investing activities during 2013 of $60.1 million primarily reflects our acquisition of Spartech for $258.8 million, net of cash acquired, and capital expenditures of $76.4 million. These cash outflows were partially offset by cash proceeds received of $275.7 million primarily related to the sale of our Resin Business for $250.0 million and the $23.2 million payment for year two of the three year earn-out from the 2011 sale of our equity investment in SunBelt.

27POLYONE CORPORATION

Net cash used by investing activities during 2012 of $72.3 million reflects our acquisition of Glasforms for $33.8 million, net of cash acquired and capital expenditures of $57.4 million. These cash outflows were partially offset by cash proceeds of $18.9 million, primarily related to the receipt of the first of three earn-outs related to our 2011 sale of our equity investment in SunBelt.

Financing Activities

Net cash used in financing activities in 2014 reflects repurchases of $233.2 million of our outstanding common shares, cash dividends paid of $29.9 million and the repayment of long-term debt of $8.0 million. These cash outflows more than offset the tax benefit of $6.9 million related to the exercise of employee equity awards and a $45.8 million net draw under existing credit facilities.

Net cash used in financing activities in 2013 reflects repayment of our long-term debt of $343.3 million, debt financing costs of $13.0 million, premium on early extinguishment of long-term debt of $4.6 million, repurchases of $131.6 million of our outstanding common shares and dividend payments of $21.5 million. These cash outflows were more than offset by proceeds received from the issuance of our 5.25% senior notes due 2023 in the aggregate principal amount of $600.0 million, net proceeds from borrowings under our credit facilities of $11.5 million and income tax benefits of $7.3 million related to the exercise of equity awards.

Net cash used in financing activities in 2012 reflects scheduled payments on our long-term debt of $3.0 million, repurchase of common shares for treasury of $15.9 million under our stock repurchase program and dividend payments of $16.9 million. These cash outflows were partially offset by net proceeds on the exercise of stock awards of $15.1 million and proceeds received from noncontrolling interests of $2.4 million related to the start-up of our joint venture in Saudi Arabia.

Total Debt

The following summarizes our debt as of December 31, 2014 and 2013.

	December 31,		December 31,
(Dollars in millions)	2014		2013
7.500% debentures due 2015	$	48.7	$	48.7
Revolving credit facility due 2018	45.0		—
7.375% senior notes due 2020	316.6		316.6
5.250% senior notes due 2023	600.0		600.0
Other debt	13.5		23.6
Total debt	$	1,023.8	$	988.9
Less: short-term and current portion of long-term debt	61.8		12.7
Total long-term debt, net of current portion	$	962.0	$	976.2

During the first quarter of 2014, we repaid an $8.0 million industrial revenue bond that was assumed as a result of the Spartech acquisition.

In 2013, we repurchased $43.4 million aggregate principal amount of our 7.375% senior notes due 2020, $1.3 million aggregate principal amount of our 7.50% debentures due 2015 and $1.6 million of other debt. Additionally, we recognized $5.2 million of debt extinguishment costs within Debt extinguishment costs in our Consolidated Statements of Income in connection with these repurchases.

On February 28, 2013, PolyOne issued $600.0 million aggregate principal amount of senior notes, which mature on March 15, 2023. The senior notes bear an interest rate of 5.25% per year, payable semi-annually, in arrears, on March 15 and September 15 of each year, which commenced on September 15, 2013. We used a portion of the net proceeds of the offering to pay the cash portion of the Spartech acquisition, and to repay certain Spartech debt, including the $88.9 million aggregate principal amount of its senior notes due 2016 and related interest and make-whole payments totaling $13.4 million and all outstanding amounts under its revolving credit facility. We also used a portion of these net proceeds to make a voluntary $50.0 million contribution to our U.S. qualified defined benefit plan and to repay the outstanding principal amount of $297.0 million under our senior secured term loan. We incurred debt extinguishment costs of $10.6 million related to the early retirement of our senior secured term loan including $8.2 million of deferred financing cost write-offs and $2.4 million of discounts that were written off. These costs are presented within Debt extinguishment costs in our Consolidated Statements of Income.

On March 1, 2013, the agreement governing our $300.0 million five-year senior secured revolving credit facility was amended and restated. The amendment and restatement resulted in an increase in commitments of $100.0 million for a maximum facility size of $400.0 million, subject to a borrowing base with advances against certain U.S. and

28POLYONE CORPORATION

Canadian accounts receivable and inventory. We have the option to increase the availability under the facility to $450.0 million, subject to meeting certain requirements and obtaining commitments for such increase. In connection with the amendment and restatement, we also extended the maturity date to March 1, 2018. As of December 31, 2014, we were in compliance with all covenants and there were $45.0 million of outstanding borrowings under our asset-backed revolving credit facility, which had remaining availability of $233.7 million.

The Company maintains a credit line with Saudi Hollandi Bank for $16.0 million, with an interest rate equal to the Saudi Arabia Interbank Offered Rate plus a fixed rate of 0.85%. The credit line is being used to fund capital expenditures related to the manufacturing facility in Jeddah, Saudi Arabia and is subject to an annual renewal. As of December 31, 2014, letters of credit under the credit line were $0.2 million and borrowings were $13.1 million with an interest rate of 1.85%. As of December 31, 2014, there was remaining availability on the credit line of $2.7 million.

For additional information about our financing arrangements, see Note 6,Financing Arrangements, to the accompanying consolidated financial statements.

Concentrations of Credit Risk

Financial instruments, including foreign exchange contracts, and trade accounts receivable, subject us to potential credit risk. Concentration of credit risk for trade accounts receivable is limited due to the large number of customers constituting our customer base and their distribution among many industries and geographic locations. We are exposed to credit risk with respect to foreign exchange contracts in the event of non-performance by the counter-parties to these financial instruments. We believe that the risk of incurring material losses related to this credit risk is remote. We do not require collateral to support the financial position of our credit risks.

Guarantee of Indebtedness of Others

On February 28, 2011, we sold our 50% equity interest in SunBelt to Olin for $132.3 million in cash and the assumption by Olin of the obligations under our guarantee of senior secured notes issued by SunBelt of $42.7 million at the time of sale, $18.3 million as of December 31, 2014. Unless the guarantee is formally assigned to Olin, we remain obligated under the guarantee, although Olin has agreed to indemnify us for amounts that we may be obligated to pay under the guarantee. These notes mature in December 2017.

Letters of Credit

Our revolving credit facility provides up to $50.0 million for the issuance of letters of credit, $12.9 million of which was used at December 31, 2014. These letters of credit are issued by the bank in favor of third parties and are mainly related to insurance claims.

Contractual Cash Obligations

The following table summarizes our obligations under debt agreements, operating leases, interest obligations, pension and other post-retirement plan obligations and purchase obligations as of December 31, 2014:

	Payment Due by Period
(In millions)	Total		2015		2016 & 2017		2018 & 2019		Thereafter
Total debt (1)	$	1,023.8	$	61.8	$	—	$	45.2	$	916.8
Operating leases	88.5		25.6		32.2		16.2		14.5
Interest on long-term debt obligations (2)	419.8		60.0		114.4		111.0		134.4
Pension and post-retirement obligations (3)	79.3		26.1		12.2		12.2		28.8
Purchase obligations (4)	23.2		15.8		7.4		—		—
Total	$	1,634.6	$	189.3	$	166.2	$	184.6	$	1,094.5

(1) Total debt includes both the current and long-term portions of debt, as reported in Note 6,Financing Arrangements, to the consolidated financial statements.

(2) Represents estimated contractual interest payments for all outstanding debt.

(3) Pension and post-retirement obligations relate to our U.S. and international pension and other post-retirement plans. The expected payments associated with these plans represent an actuarial estimate of future assumed payments based upon retirement and payment patterns. Due to uncertainties regarding the assumptions involved in estimating future required contributions to our pension and non-pension postretirement benefit plans, including: (i) interest rate levels, (ii) the amount and timing of asset returns and (iii) what, if any, changes may occur in pension funding legislation, the estimates in the table may differ materially from actual future payments.

(4) Purchase obligations are primarily comprised of service agreements related to telecommunication, information technology, utilities and other manufacturing plant services and certain capital commitments.

29POLYONE CORPORATION

The table also excludes the liability for unrecognized income tax benefits, since we cannot predict with reasonable certainty the timing of cash settlements, if any, with the respective taxing authorities. At December 31, 2014, the gross liability for unrecognized income tax benefits, including interest and penalties, totaled $37.2 million.

Off-Balance Sheet Arrangements

We have no off-balance sheet arrangements as defined in Item 303(a)(4)(ii) of Regulation S-K other than the SunBelt debt guarantee described previously in the Guarantee of Indebtedness of Others section.

Critical Accounting Policies and Estimates

Significant accounting policies are described more fully in Note 1,Description of Business and Summary of Significant Accounting Policies, to the accompanying consolidated financial statements. The preparation of financial statements in conformity with U.S. generally accepted accounting principles (U.S. GAAP) requires us to make estimates and assumptions about future events that affect the amounts reported in our consolidated financial statements and accompanying notes. We base our estimates on historical experience and assumptions that we believe are reasonable considering the related facts and circumstances. The application of these critical accounting policies involves the exercise of judgment and use of assumptions for future uncertainties. Accordingly, actual results could differ significantly from these estimates. We believe that the following discussion addresses our most critical accounting policies, which are those that are the most important to the portrayal of our financial condition and results of operations and require our most difficult, subjective and complex judgments.

30POLYONE CORPORATION

Description	Judgments and Uncertainties	Effect if Actual Results Differ from Assumptions
Pension and Other Post-retirement Plans
•    We account for our defined benefit pension plans and other post-retirement plans in accordance with FASB ASC Topic 715, Compensation — Retirement Benefits. We immediately recognize actuarial gains and losses in our operating results in the year in which the gains or losses occur. In 2014, we recognized a $56.5 million charge as a result of the recognition of these actuarial losses, which unfavorably impacted our statement of income, statement of comprehensive income, and the funded status of our pension plans. This charge was mainly driven by a decrease in discount rates and updated mortality assumptions.	•     Asset returns and interest rates significantly affect the value of future assets and liabilities of our pension and post-retirement plans and therefore the funded status of our plans. It is difficult to predict these factors due to the volatility of market conditions. •      To develop our discount rate, we consider the yields of high-quality, fixed-income investments with maturities that correspond to the timing of our benefit obligations. •     To develop our expected long-term return on plan assets, we consider historical and forward looking long-term asset returns and the expected investment portfolio mix of plan assets. The weighted-average expected long-term rate of return on plan assets was 6.86% for 2014, 8.41% for 2013 and 8.43% 2012. •     Life expectancy is a significant assumption that impacts our pension and other post-retirement benefits obligation. During 2014, we adopted the RP-2014 mortality table which was issued by the Society of Actuaries in October 2014.	•     The weighted average discount rates used to value our pension liabilities as of December 31, 2014 and 2013 were 3.88% and 4.83%, post-retirement liabilities were 3.75% and 4.38%. As of December 31, 2014, an increase/decrease in the discount rate of 50 basis points, holding all other assumptions constant, would have increased or decreased pre-tax income and the related pension and post-retirement liability by approximately $28.0 million. An increase/decrease in the discount rate of 50 basis points as of December 31, 2014 would result in a change of approximately $1.5 million in the 2015 net periodic benefit cost. •    As we recognize returns on our plan assets based upon the actual returns of these assets through a mark-to-market adjustment that is recorded in the fourth quarter, therefore no sensitivity analysis for a one percentage increase/decrease in our expected long-term return on plan assets has been provided.
Goodwill and Indefinite-lived Intangible Assets
•     Goodwill represents the excess of the purchase price over the fair value of the net assets of acquired companies. We follow the guidance in ASC 350, Intangibles — Goodwill and Other, and test goodwill for impairment at least annually, absent a triggering event that would warrant an impairment assessment. On an ongoing basis, absent any impairment indicators, we perform our goodwill impairment testing as of the first day of October of each year.	•    We have identified our reporting units at the operating segment level, or in some cases, one level below the operating segment level. Goodwill is allocated to the reporting units based on the estimated fair value at the date of acquisition. •      We estimated fair value using the best information available to us, including market information and discounted cash flow projections also referred to as the income approach. •  The income approach requires us to make assumptions and estimates regarding projected economic and market conditions, growth rates, operating margins and cash expenditures. Sensitivity analyses were performed around these assumptions in order to assess the reasonableness of the assumptions and the resulting estimated fair values.	•  If actual results are not consistent with our assumptions and estimates, we may be exposed to additional goodwill impairment charges. •      Based on our 2014 annual impairment test, no reporting unit is considered at risk of impairment and the fair value of the majority of our reporting units significantly exceeded the corresponding carrying value.

31POLYONE CORPORATION

Description	Judgments and Uncertainties	Effect if Actual Results Differ from Assumptions
•   At December 31, 2014, our Consolidated Balance Sheet reflected $96.3 million of indefinite lived trade name assets, which includes, $33.2 million associated with the trade name acquired as part of the acquisition of GLS and $63.1 million associated with trade names acquired as part of the ColorMatrix acquisition.	•    We estimate the fair value of trade names using a “relief from royalty payments” approach. This approach involves two steps: (1) estimating reasonable royalty rate for the trade name and (2) applying this royalty rate to a net sales stream and discounting the resulting cash flows to determine fair value. Fair value is then compared with the carrying value of the trade name.	•     If actual results are not consistent with our assumptions and estimates, we may be exposed to impairment charges related to our indefinite lived trade names.                                                                                                        •     Based on our 2014 annual impairment test, no trade names were considered at risk.
Income Taxes
•   We account for income taxes using the asset and liability method under ASC Topic 740. Under the asset and liability method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. In addition, deferred tax assets are also recorded with respect to net operating losses and other tax attribute carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. Valuation allowances are established when realization of the benefit of deferred tax assets is not deemed to be more likely than not. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.	•    The ultimate recovery of certain of our deferred tax assets is dependent on the amount and timing of taxable income that we will ultimately generate in the future and other factors such as the interpretation of tax laws. This means that significant estimates and judgments are required to determine the extent that valuation allowances should be provided against deferred tax assets. We have provided valuation allowances as of December 31, 2014, aggregating to $23.6 million against such assets based on our current assessment of future operating results and these other factors. At December 31, 2014, the gross liability for unrecognized income tax benefits, including interest and penalties, totaled $37.2 million.	•   Although management believes that the estimates and judgments discussed herein are reasonable, actual results could differ, which could result in income tax expense or benefits that could be material.
•   We recognize net tax benefits under the recognition and measurement criteria of ASC Topic 740, Income Taxes, which prescribes requirements and other guidance for financial statement recognition and measurement of positions taken or expected to be taken on tax returns. We record interest and penalties related to uncertain tax positions as a component of income tax expense.
Environmental Liabilities
•    Based upon our estimates, we have $121.1 million accrued at December 31, 2014 for probable future environmental expenditures. Any such provision is recognized using the Company's best estimate of the amount of loss incurred, or at the lower end of an estimated range, when a single best estimate is not determinable. In some cases, the Company recovers a portion of the costs relating to these obligations from insurers or other third parties; however, the Company records such amounts only when it is probable that they will be collected.	•     This accrual represents our best estimate of the remaining probable costs based upon information and technology currently available. Depending upon the results of future testing, the ultimate remediation alternatives undertaken, changes in regulations, new information, newly discovered conditions and other factors, it is reasonably possible that we could incur additional costs in excess of the amount accrued. However, such additional costs, if any, cannot currently be estimated. Our estimate of this liability may be revised as new regulations or technologies are developed or additional information is obtained.	•    If further developments or resolution of these matters are not consistent with our assumptions and judgments, we may need to recognize a significant adjustment in a future period. •    As noted in Note 13, Commitments and Contingencies, we recorded a $47.0 million adjustment in 2013 related to our ongoing remedial investigation and feasibility study (RIFS) at Calvert City. As we progress through certain benchmarks such as completion of the RIFS, issuance of a record of decision and remedial design, additional information may become available that requires an adjustment to our existing reserves.

32POLYONE CORPORATION

Description	Judgments and Uncertainties	Effect if Actual Results Differ from Assumptions
Share-Based Compensation
•    We have share-based compensation plans that include non-qualified stock options, incentive stock options, restricted stock units, performance shares and stock appreciation rights (SARs). See Note 15, Share-Based Compensation, to the accompanying consolidated financial statements for a complete discussion of our stock-based compensation programs.	•    Option-pricing models and generally accepted valuation techniques require management to make assumptions and to apply judgment to determine the fair value of our awards. These assumptions and judgments include estimating the future volatility of our stock price, future forfeiture rates and risk-free rates of return.	•    We do not believe there is a reasonable likelihood there will be a material change in the future estimates or assumptions we use to determine share-based compensation expense.
•    We determined the fair value of the SARs granted based on a Monte Carlo simulation method.

Future Adoption of Accounting Standards

In April 2014, the FASB issued ASU No. 2014-08, "Presentation of Financial Statements and Property, Plant, and Equipment," which revises what qualifies as a discontinued operation, changes the criteria for determining which disposals can be presented as discontinued operations and modifies related disclosure requirements. This ASU will be effective for the Company for applicable transactions occurring after January 1, 2015. We will prospectively apply the guidance to applicable transactions.

In May 2014, the FASB issued a new standard regarding revenue recognition. Under this standard, a company recognizes revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The standard implements a five-step process for customer contract revenue recognition that focuses on transfer of control. It will be effective for us beginning January 1, 2017, with early adoption not permitted. Entities can transition to the standard either retrospectively or as a cumulative-effect adjustment as of the date of adoption. We are currently assessing the impact this standard will have on our consolidated financial statements as well as the method by which we will adopt the new standard.

ITEM 7A.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

We are exposed to certain market risks as part of our ongoing business operations, including risks from changes in interest rates on debt obligations and foreign currency exchange rates that could impact our financial condition, results of operations and cash flows. We manage our exposure to these and other market risks through regular operating and financing activities, including the use of derivative financial instruments. We intend to use these derivative financial instruments as risk management tools and not for speculative investment purposes.

Interest rate exposure — Interest on our asset-backed revolving credit facility is based upon a Prime rate or LIBOR, plus a margin. Interest on the credit line with Saudi Hollandi Bank is based upon SAIBOR plus a fixed rate of 0.85%. All other debt obligations are primarily fixed rate obligations. There would be no material impact on our interest expense or cash flows from either a 10% increase or decrease in market rates of interest on our outstanding variable rate debt as of December 31, 2014.

Foreign currency exposure — We enter into intercompany lending transactions that are denominated in various foreign currencies and are subject to financial exposure from foreign exchange rate movement from the date a loan is recorded to the date it is settled or revalued. To mitigate this risk, we enter into foreign exchange forward contracts, which had a fair value of less than $0.1 million at December 31, 2014. Gains and losses on these contracts generally offset gains and losses on the assets and liabilities being hedged.

We face translation risks related to the changes in foreign currency exchange rates. Amounts invested in our foreign operations are translated into U.S. dollars at the exchange rates in effect at the balance sheet date. The resulting translation adjustments are recorded as a component of Accumulated other comprehensive loss in the Shareholders’ equity section of the accompanying Consolidated Balance Sheets. Net sales and expenses in our foreign operations’ foreign currencies are translated into varying amounts of U.S. dollars depending upon whether the U.S. dollar weakens or strengthens against other currencies. Therefore, changes in exchange rates may either positively or negatively affect our net sales and expenses from foreign operations as expressed in U.S. dollars.

33POLYONE CORPORATION

ITEM 8.FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

Index to Financial Statements

	Page
Management’s Report	35
Reports of Independent Registered Public Accounting Firm	36-37
Consolidated Financial Statements:
Consolidated Statements of Income	38
Consolidated Statements of Comprehensive Income	39
Consolidated Balance Sheets	40
Consolidated Statements of Cash Flows	41
Consolidated Statements of Shareholders’ Equity	42
Notes to Consolidated Financial Statements	43-68

34POLYONE CORPORATION

MANAGEMENT’S REPORT

The management of PolyOne Corporation is responsible for preparing the consolidated financial statements and disclosures included in this Annual Report on Form 10-K. The consolidated financial statements and disclosures included in this Annual Report fairly present in all material respects the consolidated financial position, results of operations, shareholders’ equity and cash flows of PolyOne Corporation as of and for the year ended December 31, 2014.

Management is responsible for establishing and maintaining disclosure controls and procedures designed to ensure that the information required to be disclosed by the Company is captured and reported in a timely manner. Management has evaluated the design and operation of the Company’s disclosure controls and procedures at December 31, 2014 and found them to be effective.

Management is also responsible for establishing and maintaining a system of internal control over financial reporting that is designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. Internal control over financial reporting includes policies and procedures that provide reasonable assurance that: PolyOne Corporation’s accounting records accurately and fairly reflect the transactions and dispositions of the assets of the Company; unauthorized or improper acquisition, use or disposal of Company assets will be prevented or timely detected; the Company’s transactions are properly recorded and reported to permit the preparation of the Company’s consolidated financial statements in conformity with generally accepted accounting principles; and the Company’s receipts and expenditures are made only in accordance with authorizations of management and the Board of Directors of the Company.

Management has assessed the effectiveness of PolyOne’s internal control over financial reporting as of December 31, 2014 and has prepared Management’s Annual Report On Internal Control Over Financial Reporting contained on page 69 of this Annual Report, which concludes that as of December 31, 2014, PolyOne’s internal control over financial reporting is effective and that no material weaknesses were identified.

/s/ ROBERT M. PATTERSON	/s/ BRADLEY C. RICHARDSON
Robert M. Patterson	Bradley C. Richardson
President and Chief Executive Officer	Executive Vice President and Chief Financial Officer

February 13, 2015

35POLYONE CORPORATION

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

The Board of Directors and Shareholders of PolyOne Corporation

We have audited PolyOne Corporation's internal control over financial reporting as of December 31, 2014, based on criteria established in Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013 framework) (the COSO criteria). PolyOne Corporation'smanagement is responsible for maintaining effective internal control over financial reporting, and for its assessment of the effectiveness of internal control over financial reporting included in the accompanying “Management's Annual Report on Internal Control over Financial Reporting”. Our responsibility is to express an opinion on the company's internal control over financial reporting based on our audit.

We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether effective internal control over financial reporting was maintained in all material respects. Our audit included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, testing and evaluating the design and operating effectiveness of internal control based on the assessed risk, and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion.

A company's internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company's internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company's assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

In our opinion, PolyOne Corporationmaintained, in all material respects, effective internal control over financial reporting as of December 31, 2014, based on the COSO criteria.

We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the consolidated balance sheets of PolyOne Corporation as of December 31, 2014 and 2013, and the related consolidated statements of income, comprehensive income, shareholders' equity and cash flows for each of the three years in the period ended December 31, 2014 and our report dated February 13, 2015 expressed an unqualified opinion thereon.

/s/ Ernst & Young LLP

Cleveland, Ohio

February 13, 2015

36POLYONE CORPORATION

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

The Board of Directors and Shareholders of PolyOne Corporation

We have audited the accompanying consolidated balance sheets of PolyOne Corporation as of December 31, 2014 and 2013, and the related consolidated statements of income, comprehensive income, shareholders' equity and cash flows for each of the three years in the period ended December 31, 2014. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the consolidated financial position of PolyOne Corporation at December 31, 2014 and 2013, and the consolidated results of its operations and its cash flows for each of the three years in the period ended December 31, 2014, in conformity with U.S. generally accepted accounting principles.

We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), PolyOne Corporation's internal control over financial reporting as of December 31, 2014, based on criteria established in Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013 framework) and our report dated February 13, 2015 expressed an unqualified opinion thereon.

/s/ Ernst & Young LLP

Cleveland, Ohio

February 13, 2015

37POLYONE CORPORATION

Consolidated Statements of Income

	Year Ended December 31,
(In millions, except per share data)	2014			2013				2012
Sales	$	3,835.5		$	3,771.2			$	2,860.8
Cost of sales	3,127.6			3,109.0				2,329.7
Gross margin	707.9			662.2				531.1
Selling and administrative expense	552.8			457.6				417.0
Income related to previously owned equity affiliates	—			26.9				23.4
Operating income	155.1			231.5				137.5
Interest expense, net	(62.2		)	(63.5		)		(50.8		)
Debt extinguishment costs	—			(15.8		)		—
Other expense, net	(4.5		)	(1.2		)		(3.4		)
Income from continuing operations, before income taxes	88.4			151.0				83.3
Income tax expense	(11.2		)	(58.1		)		(30.1		)
Net income from continuing operations	77.2			92.9				53.2
Income from discontinued operations, net of income taxes	1.2			149.8				18.6
Net income	78.4			242.7				71.8
Net loss attributable to noncontrolling interests	0.8			1.1				0.1
Net income attributable to PolyOne common shareholders	$	79.2		$	243.8			$	71.9
Earnings per share attributable to PolyOne common shareholders - basic:
Continuing operations	$	0.85		$	0.98		—	$	0.60
Discontinued operations	0.01			1.57				0.21
Total	$	0.86		$	2.55			$	0.81
Earnings per share attributable to PolyOne common shareholders - diluted:
Continuing operations	$	0.83		$	0.97			$	0.59
Discontinued operations	0.02			1.56				0.21
Total	$	0.85		$	2.53			$	0.80
Cash dividends declared per common share	$	0.34		$	0.26			$	0.20
Weighted-average number of common shares outstanding:
Basic	92.3			95.5				89.1
Diluted	93.5			96.5				89.8

The accompanying notes to the consolidated financial statements are an integral part of these statements.

38POLYONE CORPORATION

Consolidated Statements of Comprehensive Income

	Year Ended December 31,
(In millions)	2014			2013			2012
Net income	$	78.4		$	242.7		$	71.8
Other comprehensive loss:
Translation adjustments	(27.5		)	(3.7		)	1.1
Amortization of prior service credits, net of tax of $6.5 - 2012	—			—			(10.9		)
Total other comprehensive loss	(27.5		)	(3.7		)	(9.8		)
Total comprehensive income	50.9			239.0			62.0
Comprehensive loss attributable to noncontrolling interests	0.8			1.1			0.1
Comprehensive income attributable to PolyOne common shareholders	$	51.7		$	240.1		$	62.1

The accompanying notes to the consolidated financial statements are an integral part of these statements.

39POLYONE CORPORATION

Consolidated Balance Sheets

	Year Ended December 31,
(In millions, except par value per share)	2014			2013
ASSETS
Current assets:
Cash and cash equivalents	$	238.6		$	365.2
Accounts receivable, net	396.8			428.0
Inventories, net	309.0			342.5
Other current assets	98.3			117.9
Total current assets	1,042.7			1,253.6
Property, net	596.7			646.2
Goodwill	590.6			559.0
Intangible assets, net	362.7			365.8
Other non-current assets	118.5			119.5
Total assets	$	2,711.2		$	2,944.1
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Short-term and current portion of long-term debt	$	61.8		$	12.7
Accounts payable	365.9			386.9
Accrued expenses and other liabilities	173.5			209.3
Total current liabilities	601.2			608.9
Long-term debt	962.0			976.2
Pension and other post-retirement benefits	103.7			77.3
Deferred income taxes	88.8			133.8
Other non-current liabilities	178.3			169.4
Total non-current liabilities	1,332.8			1,356.7
SHAREHOLDERS' EQUITY
Preferred stock, 40.0 shares authorized, no shares issued	—			—
Common Shares, $0.01 par, 400.0 shares authorized, 122.2 shares issued	1.2			1.2
Additional paid-in capital	1,155.4			1,149.8
Retained earnings	259.7			211.6
Common shares held in treasury, at cost, 32.9 shares in 2014 and 27.1 shares in 2013	(597.7		)	(371.0		)
Accumulated other comprehensive loss	(42.3		)	(14.8		)
Total PolyOne shareholders' equity	776.3			976.8
Noncontrolling interest	0.9			1.7
Total equity	777.2			978.5
Total liabilities and equity	$	2,711.2		$	2,944.1

The accompanying notes to the consolidated financial statements are an integral part of these statements.

40POLYONE CORPORATION

Consolidated Statements of Cash Flows

	Year Ended December 31,
(In millions)	2014			2013			2012
Operating activities
Net income	$	78.4		$	242.7		$	71.8
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	123.9			109.8			69.8
Deferred income tax provision	(45.2		)	12.9			13.4
Debt extinguishment costs	—			15.8			—
Provision for doubtful accounts	0.4			0.2			0.3
Stock compensation expense	14.2			16.5			10.4
Gain on sale of business	(1.2		)	(223.7		)	—
Income related to previously owned equity affiliates	—			(26.9		)	(23.4		)
Changes in assets and liabilities, net of the effect of acquisitions and divestitures:
Decrease in accounts receivable	24.4			26.9			1.2
Decrease (increase) in inventories	28.4			20.4			(3.0		)
(Decrease) increase in accounts payable	(15.2		)	(16.6		)	16.8
Increase (decrease) in pension and other post-retirement benefits	30.0			(124.5		)	(41.7		)
(Decrease) increase in accrued expenses and other assets and liabilities	(29.7		)	55.5			(8.7		)
Net cash provided by operating activities	208.4			109.0			106.9
Investing activities
Capital expenditures	(92.8		)	(76.4		)	(57.4		)
Business acquisitions, net of cash acquired	(47.2		)	(259.4		)	(33.8		)
Proceeds from sale of businesses and other assets	28.2			275.7			18.9
Net cash used by investing activities	(111.8		)	(60.1		)	(72.3		)
Financing activities
Repayment of long-term debt	(8.0		)	(343.3		)	(3.0		)
Premium on early extinguishment of long-term debt	—			(4.6		)	—
Proceeds from long-term debt	—			600.0			—
Debt financing costs	—			(13.0		)	—
Borrowing under credit facilities	168.6			129.0			0.8
Repayment under credit facilities	(122.8		)	(117.5		)	—
Purchase of common shares for treasury	(233.2		)	(131.6		)	(15.9		)
Exercise of stock awards	6.9			7.3			15.1
Cash dividends paid	(29.9		)	(21.5		)	(16.9		)
Proceeds from noncontrolling interests	—			—			2.4
Net cash (used) provided by financing activities	(218.4		)	104.8			(17.5		)
Effect of exchange rate changes on cash	(4.8		)	1.5			1.0
(Decrease) increase in cash and cash equivalents	(126.6		)	155.2			18.1
Cash and cash equivalents at beginning of year	365.2			210.0			191.9
Cash and cash equivalents at end of year	$	238.6		$	365.2		$	210.0

The accompanying notes to the consolidated financial statements are an integral part of these statements.

41POLYONE CORPORATION

Consolidated Statements of Shareholders' Equity

	Common Shares			Shareholders’ Equity
(In millions)	Common Shares	Common Shares  Held in Treasury		Common Shares		Additional Paid-in Capital			Retained Earnings (Deficit)			Common Shares  Held in Treasury			Accumulated Other Comprehensive (Loss)			Total PolyOne shareholders' equity			Non-controlling Interests			Total equity
Balance at January 1, 2012	122.2	(33.4	)	$	1.2	$	1,042.7		$	(84.9	)	$	(369.4	)	$	(1.3	)	$	588.3		—			$	588.3
Net income (loss)									71.9									71.9			(0.1		)	71.8
Other comprehensive income (loss)															(9.8		)	(9.8		)				(9.8		)
Noncontrolling interest activity																					2.4			2.4
Cash dividends declared						(17.8		)										(17.8		)				(17.8		)
Repurchase of common shares		(1.2	)									(15.9		)				(15.9		)				(15.9		)
Stock-based compensation and exercise of awards		1.9				(8.8		)				21.2						12.4						12.4
Balance at December 31, 2012	122.2	(32.7	)	$	1.2	$	1,016.1		$	(13.0	)	$	(364.1	)	$	(11.1	)	$	629.1		$	2.3		$	631.4
Net income (loss)									243.8									243.8			(1.1		)	242.7
Other comprehensive income (loss)															(3.7		)	(3.7		)				(3.7		)
Noncontrolling interest activity																					0.5			0.5
Shares issued in connection with acquisitions		10.0				136.6						117.2						253.8						253.8
Cash dividends declared						(5.4		)	(19.2		)							(24.6		)				(24.6		)
Repurchase of common shares		(5.0	)									(131.6		)				(131.6		)				(131.6		)
Stock-based compensation and exercise of awards		0.6				2.5						7.5						10.0						10.0
Balance at December 31, 2013	122.2	(27.1	)	$	1.2	$	1,149.8		$	211.6		$	(371.0	)	$	(14.8	)	$	976.8		$	1.7		$	978.5
Net income (loss)									79.2									79.2			(0.8		)	78.4
Other comprehensive income (loss)															(27.5		)	(27.5		)				(27.5		)
Cash dividends declared									(31.1		)							(31.1		)				(31.1		)
Repurchase of common shares		(6.3	)									(233.2		)				(233.2		)				(233.2		)
Stock-based compensation and exercise of awards		0.5				5.6						6.5						12.1						12.1
Balance at December 31, 2014	122.2	(32.9	)	$	1.2	$	1,155.4		$	259.7		$	(597.7	)	$	(42.3	)	$	776.3		$	0.9		$	777.2

The accompanying notes to the consolidated financial statements are an integral part of these statements.

42POLYONE CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Note 1 — DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Description of Business

We are a premier provider of specialized polymer materials, services and solutions with operations in specialty polymer formulations, color and additive systems, plastic sheet and packaging solutions, and polymer distribution. We are also a highly specialized developer and manufacturer of performance enhancing additives, liquid colorants, and fluoropolymer and silicone colorants. Headquartered in Avon Lake, Ohio, we have employees at manufacturing sites and distribution facilities in North America, South America, Europe, Asia and Africa. We provide value to our customers through our ability to link our knowledge of polymers and formulation technology with our manufacturing and supply chain to provide value added solutions to designers, assemblers and processors of plastics (our customers). When used in this Annual Report on Form 10-K, the terms “we,” “us,” “our”, "PolyOne" and the “Company” mean PolyOne Corporation and its consolidated subsidiaries.

Our operations are located primarily in North America, Europe, Asia and Brazil. Our operations are reported in five reportable segments: Global Color, Additives and Inks; Global Specialty Engineered Materials; Designed Structures and Solutions; Performance Products and Solutions; and PolyOne Distribution. See Note 16,Segment Information, for more information.

On December 1, 2014, the Company completed the acquisition of specialty assets of Accella Performance Materials (Accella), a leading North American manufacturer of liquid polymer formulations. The Accella acquisition expands PolyOne's specialty portfolio and provides specialty coatings solutions and value-added services in a wide range of applications, including consumer products, interior and under-the-hood automotive parts, outdoor recreational equipment and food packaging. 

Accounting Standards Not Yet Adopted

In April 2014, the FASB issued ASU No. 2014-08, "Presentation of Financial Statements and Property, Plant, and Equipment," which revises what qualifies as a discontinued operation, changes the criteria for determining which disposals can be presented as discontinued operations and modifies related disclosure requirements. This ASU will be effective for the Company for applicable transactions occurring after January 1, 2015. We will prospectively apply the guidance to applicable transactions.

In May 2014, the Financial Accounting Standards Board issued Auditing Standards Update 2014-09, "Revenue from Contracts with Customers" (ASU 2014-09). Under this standard, a company recognizes revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The standard implements a five-step process for customer contract revenue recognition that focuses on transfer of control. It will be effective for us beginning January 1, 2017, with early adoption not permitted. Entities can transition to the standard either retrospectively or as a cumulative-effect adjustment as of the date of adoption. We are currently assessing the impact this standard will have on our consolidated financial statements as well as the method by which we will adopt the new standard.

Consolidation and Basis of Presentation

The consolidated financial statements include the accounts of PolyOne and its subsidiaries. All majority-owned affiliates over which we have control are consolidated. Transactions with related parties, including joint ventures, are in the ordinary course of business.

Reclassifications

Certain reclassifications of the prior period amounts and presentation have been made to conform to the presentation for the current period.

Use of Estimates

Preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions in certain circumstances that affect amounts reported in the accompanying consolidated financial statements and notes. Actual results could differ from these estimates.

Cash and Cash Equivalents

We consider all highly liquid investments purchased with a maturity of less than three months to be cash equivalents. Cash equivalents are stated at cost, which approximates fair value.

43POLYONE CORPORATION

Allowance for Doubtful Accounts

We evaluate the collectability of receivables based on a combination of factors. We regularly analyze significant customer accounts and, when we become aware of a specific customer’s inability to meet its financial obligations to us, such as in the case of a bankruptcy filing or deterioration in the customer’s operating results or financial position, we record a specific allowance for bad debt to reduce the related receivable to the amount we reasonably believe is collectible. We also record bad debt allowances for all other customers based on a variety of factors including the length of time the receivables are past due, the financial health of the customer, economic conditions and historical experience. In estimating the allowances, we take into consideration the existence of credit insurance. If circumstances related to specific customers change, our estimates of the recoverability of receivables could be adjusted further. Accounts receivable balances are written off against the allowance for doubtful accounts after a final determination of uncollectability has been made.

Inventories

External purchases of raw materials and finished goods are valued at weighted average cost. Manufactured finished goods are stated at the lower of cost or market using the first-in, first-out (FIFO) method.

Long-lived Assets

Property, plant and equipment is carried at cost, net of depreciation and amortization that is computed using the straight-line method over the estimated useful lives of the assets, which generally ranges from 3 to 15 years for machinery and equipment and up to 40 years for buildings. During 2013 and 2014, we depreciated certain assets associated with closing manufacturing locations over a shortened life (through a cease-use date). Software is amortized over periods not exceeding 10 years. Property, plant and equipment is generally depreciated on accelerated methods for income tax purposes. We expense repair and maintenance costs as incurred. We capitalize replacements and betterments that increase the estimated useful life of an asset.

We retain fully depreciated assets in property and accumulated depreciation accounts until we remove them from service. In the case of sale, retirement or disposal, the asset cost and related accumulated depreciation balance is removed from the respective account, and the resulting net amount, less any proceeds, is included as a component of income from continuing operations in the accompanying Consolidated Statements of Income.

We account for operating leases under the provisions of Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 840, Leases.

Finite-lived intangible assets, which consist primarily of customer relationships, patents and technology are amortized over their estimated useful lives. The remaining useful lives range up to 22 years.

We assess the recoverability of long-lived assets when events or changes in circumstances indicate that we may not be able to recover the assets’ carrying amount. We measure the recoverability of assets to be held and used by a comparison of the carrying amount of the asset to the expected future undiscounted cash flows associated with the asset. We measure the amount of impairment of long-lived assets as the amount by which the carrying value of the asset exceeds the fair value of the asset, which is generally determined based on projected discounted future cash flows or appraised values.

Goodwill and Indefinite Lived Intangible Assets

Goodwill is the excess of the purchase price paid over the fair value of the net assets of the acquired business. Goodwill is tested for impairment at the reporting unit level. Our reporting units have been identified at the operating segment level, or in some cases, one level below the operating segment level. Goodwill is allocated to the reporting units based on the estimated fair value at the date of acquisition.

Our annual measurement date for testing impairment of goodwill and other indefinite-lived intangibles is October 1st. We completed our testing of impairment as of October 1, noting no impairment in 2014, 2013 or 2012. The future occurrence of a potential indicator of impairment would require an interim assessment for some or all of the reporting units prior to the next required annual assessment on October 1, 2015. Refer to Note 19,Fair Value, for further discussion of our approach for assessing the fair value of goodwill.

Litigation Reserves

FASB ASC Topic 450, Contingencies, requires that we accrue for loss contingencies associated with outstanding litigation, claims and assessments for which management has determined it is probable that a loss contingency exists and the amount of loss can be reasonably estimated. We record expense associated with professional fees

44POLYONE CORPORATION

related to litigation claims and assessments as incurred. Refer to Note 13,Commitments and Contingencies, for further information.

Derivative Financial Instruments

FASB ASC Topic 815, Derivative and Hedging, requires that all derivative financial instruments, such as foreign exchange contracts, be recognized in the financial statements and measured at fair value, regardless of the purpose or intent in holding them.

We are exposed to foreign currency changes in the normal course of business. We have established policies and procedures that manage this exposure through the use of financial instruments. By policy, we do not enter into these instruments for trading purposes or speculation. These instruments are not designated as hedges and, as a result, are adjusted to fair value, with the resulting gains and losses recognized in the accompanying Consolidated Statements of Income immediately.

Pension and Other Post-retirement Plans

We account for our pensions and other post-retirement benefits in accordance with FASB ASC Topic 715, Compensation — Retirement Benefits. This standard requires us to (1) recognize the funded status of the benefit plans in our Consolidated Balance Sheet, (2) recognize, as a component of other comprehensive income or net periodic benefit cost, the gains or losses and prior service costs or credits that arise during the period and (3) measure defined benefit plan assets and obligations as of December 31. We immediately recognize actuarial gains and losses in our operating results in the year in which the gains or losses occur. Refer to Note 12,Employee Benefit Plans, for more information.

Accumulated Other Comprehensive Loss

Changes in accumulated other comprehensive loss in 2014, 2013 and 2012 were as follows:

(In millions)	Cumulative Translation Adjustment			Pension and other post-retirement benefits			Unrealized gain in available-for-sale securities		Total
Balance at January 1, 2012	$	(17.6	)	$	16.1		$	0.2	$	(1.3	)
Translation adjustments	1.1			—			—		1.1
Prior service credits recognized during the year, net of tax of $6.5	—			(10.9		)	—		(10.9		)
Balance at December 31, 2012	(16.5		)	5.2			0.2		(11.1		)
Translation adjustments	(3.7		)	—			—		(3.7		)
Balance at December 31, 2013	(20.2		)	5.2			0.2		(14.8		)
Translation adjustments	(27.5		)	—			—		(27.5		)
Balance at December 31, 2014	$	(47.7	)	$	5.2		$	0.2	$	(42.3	)

Fair Value of Financial Instruments

FASB ASC Topic 820, Fair Value Measurements and Disclosures, requires disclosures of the fair value of financial instruments. The estimated fair values of financial instruments were principally based on market prices where such prices were available and, where unavailable, fair values were estimated based on market prices of similar instruments. See Note 19,Fair Value, for further discussion.

Foreign Currency Translation

Revenues and expenses are translated at average currency exchange rates during the related period. Assets and liabilities of foreign subsidiaries are translated using the exchange rate at the end of the period. The resulting translation adjustments are recorded as accumulated other comprehensive income or loss. Gains and losses resulting from foreign currency transactions, including intercompany transactions that are not considered permanent investments, are included in Other expense, net in the accompanying Consolidated Statements of Income.

Revenue Recognition

We recognize revenue when the revenue is realized or realizable and has been earned. We recognize revenue when a firm sales agreement is in place, shipment has occurred and collectability is reasonably assured.

45POLYONE CORPORATION

Shipping and Handling Costs

Shipping and handling costs are included in cost of sales.

Research and Development Expense

Research and development costs from continuing operations, which were $53.4 million in 2014, $52.6 million in 2013 and $41.3 million in 2012, are charged to expense as incurred.

Environmental Costs

We expense costs that are associated with managing hazardous substances and pollution in ongoing operations on a current basis. Costs associated with environmental contamination are accrued when it becomes probable that a liability has been incurred and our proportionate share of the cost can be reasonably estimated. Any such provision is recognized using the Company's best estimate of the amount of loss incurred, or at the lower end of an estimated range, when a single best estimate is not determinable. In some cases, the Company may be able to recover a portion of the costs relating to these obligations from insurers or other third parties; however, the Company records such amounts only when it is probable that they will be collected.

Share-Based Compensation

We account for share-based compensation under the provisions of FASB ASC Topic 718, Compensation — Stock Compensation, which requires us to estimate the fair value of share-based awards on the date of grant. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service periods in the accompanying Consolidated Statements of Income. As of December 31, 2014, we had one active share-based employee compensation plan, which is described more fully in Note 15,Share-Based Compensation.

Income Taxes

Deferred income tax liabilities and assets are determined based upon the differences between the financial reporting and tax basis of assets and liabilities and are measured using the tax rate and laws currently in effect. In accordance with FASB ASC Topic 740, Income Taxes, we evaluate our deferred income taxes to determine whether a valuation allowance should be established against the deferred tax assets or whether the valuation allowance should be reduced based on consideration of all available evidence, both positive and negative, using a “more likely than not” standard.

Note 2 — BUSINESS COMBINATIONS

Accella Performance Materials

On December 1, 2014, the Company completed the acquisition of specialty assets of Accella Performance Materials (Accella), a leading North American manufacturer of liquid polymer formulations, for approximately $47.2 million in cash, net of cash acquired. The results of operations of Accella were included in the Company’s Consolidated Statements of Income for the period subsequent to the date of the acquisition and are reported in the Global Color, Additives and Inks segment. The acquisition resulted in preliminary goodwill and intangible assets of $40.5 million. Goodwill recognized as a result of this acquisition is deductible for tax purposes. As of December 31, 2014, the entire purchase price allocation is preliminary.

Spartech Corporation

On March 13, 2013, PolyOne acquired Spartech Corporation (Spartech), a supplier of sustainable plastic sheet, color and engineered materials, and packaging solutions, based in Clayton, Missouri, with fiscal 2012 sales of $1,149.4 million and net income from continuing operations of $2.7 million.

At the effective time of the merger, each issued and outstanding share of Spartech common shares was canceled and converted into the right to receive consideration equal to $2.67 in cash and 0.3167 shares of PolyOne common shares. PolyOne paid $83.4 million in cash and issued approximately 10.0 million shares of its common shares to Spartech's stockholders. PolyOne funded the cash portion of the consideration, and the repayment of certain portions of Spartech's debt, with a portion of the net proceeds of its issuance of 5.25% senior notes due 2023, discussed in Note 6,Financing Arrangements.

46POLYONE CORPORATION

The acquisition of Spartech has provided substantial synergies through enhanced operational cost efficiencies and has expanded PolyOne's specialty portfolio. By combining Spartech's leading market positions in sheet, rigid barrier packaging and specialty cast acrylics with PolyOne's capabilities, we have been better able serve our customers and accelerate growth.

Spartech's results have been reflected within our Consolidated Statements of Income and within the Designed Structures and Solutions segment, as well as our existing Global Specialty Engineered Materials, Global Color, Additives and Inks and Performance Products and Solutions segments since the date of acquisition.

Based on the closing price of PolyOne's common stock on March 13, 2013, the purchase price was comprised of the following:

(In millions, except stock price and share data)
Spartech shares outstanding	31.2
Spartech restricted stock units	0.2
Spartech shares converted	31.4
Exchange ratio	0.3167
PolyOne shares issued	10.0
PolyOne closing stock price on March 13, 2013	$	25.05
Total value of PolyOne shares issued	$	249.9
Cash consideration transferred to Spartech shareholders	83.4
Fair value of Spartech equity awards, net of deferred tax benefits (1)	2.4
Total consideration transferred to Spartech equity holders	335.7
Spartech revolving credit facilities repaid at close (2)	77.2
Spartech senior notes repaid at close (2)	102.3
Total consideration transferred to debt and equity holders	515.2
Cash acquired	(4.1		)
Total consideration transferred to debt and equity holders, net of cash acquired	$	511.1

(1) In accordance with ASC 718, Compensation — Stock Compensation, the fair value of replacement awards attributable to pre-combination service is recognized as part of purchase consideration. The $2.4 million represents the fair value of Spartech replacement equity awards of $3.9 million net of deferred income tax benefits of $1.5 million. The fair value of awards attributable to post-combination service amounted to $2.7 million and are being recognized as stock compensation over their requisite service periods within PolyOne's Consolidated Statements of Income.

(2) In accordance with the provisions of Spartech's 7.08% senior notes due 2016 and revolving credit facilities, at the time of closing, PolyOne repaid all borrowings under Spartech's revolving credit facilities, which amounted to $77.2 million. Additionally, PolyOne repaid $102.3 million related to Spartech's 7.08% senior notes due 2016, including $88.9 million of aggregated principal, $10.3 million make-whole provisions, and $3.1 million of interest payable.

The acquisition of Spartech has been accounted for using the acquisition method of accounting, which requires, among other things, the assets acquired and liabilities assumed be recognized at their respective fair values as of the acquisition date. The purchase price allocation was finalized in the first quarter of 2014, following the completion of our assessment of contingencies and income taxes, which resulted in an increase to goodwill of $9.4 million. The 2013 consolidated financial statements have not been retroactively adjusted as these measurement period adjustments did not have a material impact on such statements.

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The following table summarizes PolyOne's final fair value estimates at the acquisition date:

(In millions)	Final allocation
Accounts receivable	$	139.7
Inventories	114.4
Other current assets	18.6
Property	280.3
Other non-current assets	19.6
Intangible assets	44.6
Goodwill	162.6
Total assets acquired	779.8
Short-term and current portion of long-term debt	0.5
Accounts payable	105.0
Accrued expenses and other liabilities	43.1
Long-term debt	11.0
Other non-current liabilities	109.1
Total liabilities assumed	268.7
Net assets acquired	$	511.1

Goodwill is calculated as the excess of the consideration transferred over the assets acquired, and represents the estimated future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. Goodwill has been allocated to the Designed Structures and Solutions, Global Color, Additives and Inks and Performance Products and Solutions segments. Goodwill recognized as a result of this acquisition is not deductible for tax purposes. SeeNote 3,Goodwill and Intangible Assets, for information about goodwill and intangible assets.

The following unaudited pro forma information of PolyOne for the years ended December 31, 2013 and 2012 includes Spartech's operating results for the respective periods, as if the acquisition and related financing occurred on January 1, 2012. The following pro forma financial information is not necessarily indicative of the results of operations as they would have been had the transaction occurred on the assumed date, nor is it necessarily an indication of trends in future results for a number of reasons, including, but not limited to, differences between the assumptions used to prepare the pro forma information, cost savings from operating efficiencies, potential synergies, and the impact of incremental costs incurred in integrating the businesses.

	Year Ended December 31,
(In millions)	Pro Forma 2013		Pro Forma 2012
Sales	$	3,989.2	$	4,006.9
Net income from continuing operations	$	94.7	$	56.5

The unaudited pro forma financial information presented in the table above has been adjusted to give effect to adjustments that are: (1) directly related to the business combination; (2) factually supportable; and (3) expected to have a continuing impact. These adjustments include, but are not limited to, depreciation and amortization related to fair value adjustments to property, plant and equipment and intangible assets, and interest expense on acquisition-related debt.

In 2013, we incurred acquisition-related costs totaling of $7.6 million which have been included within selling and administrative expense in our Consolidated Statements of Income.

Glasforms

On December 19, 2012, PolyOne acquired all of the outstanding equity of Glasforms Inc. (Glasforms), a leading manufacturer of glass and carbon fiber reinforced polymers and advanced composite products, with 2012 annual sales of $51.1 million. The purchase marks PolyOne's entry into advanced composite technology, an adjacency consistent with the Company's strategy of providing specialty solutions that deliver high value to customers. The acquisition date fair value of the consideration transferred was $34.3 million, net of cash acquired of $1.2 million.

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Glasforms results have been reflected within our Consolidated Statement of Income and within our Global Specialty Engineered Materials Segment since the date of acquisition. The acquisition resulted in goodwill of $12.4 million and $10.7 million of identifiable intangible assets.

In 2012, we incurred acquisition-related costs totaling of $3.9 million which have been included within Selling and administrative expense in our Consolidated Statement of Income.

Note 3 — GOODWILL AND INTANGIBLE ASSETS

The total purchase price associated with acquisitions is allocated to the fair value of assets acquired and liabilities assumed based on their fair values at the acquisition date, with excess amounts recorded as goodwill.

Goodwill as of December 31, 2014 and 2013, and changes in the carrying amount of goodwill by segment were as follows:

(In millions)	Global Specialty Engineered Materials			Global Color, Additives and Inks			Designed Structures and Solutions		Performance Products and Solutions			PolyOne Distribution		Total
Goodwill, gross at January 1, 2013	$	110.8		$	314.0		$	—	$	182.4		$	1.6	$	608.8
Accumulated impairment losses	(12.2		)	(16.1		)	—		(175.0		)	—		(203.3		)
Goodwill, net at January 1, 2013	98.6			297.9			—		7.4			1.6		405.5
Acquisitions of businesses	1.8			12.4			136.3		3.6			—		154.1
Currency translation	(0.5		)	(0.1		)	—		—			—		(0.6		)
Balance at December 31, 2013	99.9			310.2			136.3		11.0			1.6		559.0
Acquisitions of businesses	—			23.5			8.4		0.2			—		32.1
Currency translation	(0.5		)	—			—		—			—		(0.5		)
Balance at December 31, 2014	$	99.4		$	333.7		$	144.7	$	11.2		$	1.6	$	590.6

At December 31, 2014, PolyOne had $99.7 million of indefinite-lived other intangible assets that are not subject to amortization, consisting of a trade name of $33.2 million acquired as part of the 2008 acquisition of GLS Corporation (GLS), trade names of $63.1 million acquired as part of the acquisition of ColorMatrix and $3.4 million of in-process research and development (IPR&D) acquired as part of the ColorMatrix acquisition. Acquired IPR&D is accounted for as an indefinite-lived intangible asset until the project is complete. Upon completion, projects are reclassified to technology and amortized over their useful lives. IPR&D consists of one project that we expect to complete during 2015.

Indefinite and finite-lived intangible assets consisted of the following:

	As of December 31, 2014
(In millions)	Acquisition Cost		Accumulated Amortization			Currency Translation			Impairment			Net
Customer relationships	$	199.4	$	(32.6	)	$	—		$	(1.3	)	$	165.5
Patents, technology and other	133.4		(35.3		)	(0.1		)	(0.5		)	97.5
Indefinite-lived trade names	96.3		—			—			—			96.3
In-process research and development	3.4		—			—			—			3.4
Total	$	432.5	$	(67.9	)	$	(0.1	)	$	(1.8	)	$	362.7

	As of December 31, 2013
(In millions)	Acquisition Cost		Accumulated Amortization			Currency Translation		Net
Customer relationships	$	181.5	$	(24.1	)	$	0.1	$	157.5
Patents, technology and other	134.3		(25.8		)	0.1		108.6
Indefinite-lived trade names	96.3		—			—		96.3
In-process research and development	3.4		—			—		3.4
Total	$	415.5	$	(49.9	)	$	0.2	$	365.8

Amortization of other finite-lived intangible assets for the years ended December 31, 2014, 2013 and 2012 was $19.2 million, $17.8 million and $13.2 million, respectively.

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As of December 31, 2014, we expect amortization expense on finite-lived intangibles for the next five years as follows:

	2015	2016	2017	2018	2019
Expected amortization	$20.0	$20.1	$20.1	$20.1	$20.0

Note 4 — EMPLOYEE SEPARATION AND RESTRUCTURING COSTS

In 2013, PolyOne determined it would close seven former Spartech manufacturing facilities and one administrative office and relocate production to other PolyOne facilities. The manufacturing facilities’ closings are part of the Company’s ongoing integration of Spartech, which are designed to enable the Company to better serve customers, improve efficiency, and deliver a portion of the anticipated synergy-related cost savings in connection with the Spartech acquisition. In addition to these actions, PolyOne incurred severance costs related to former Spartech executives and other employees, as well as fixed asset-related charges and other ongoing costs associated with restructuring actions that were underway prior to PolyOne's acquisition of Spartech. We also incurred costs associated with further asset rationalization at Spartech locations that were not part of the above actions.

The Company has incurred $103.8 million of charges in connection with the Spartech actions noted above. These costs include $26.2 million of severance, $40.9 million of asset-related charges, including accelerated depreciation, and $36.7 million of other ongoing costs. We expect to incur an additional $15.0 million of costs related to these actions, primarily in the first half of 2015.

The table below summarizes restructuring activity related to Spartech since the date of acquisition.

(In millions)	Long-Lived Asset Charges			Employee Separation			Other Ongoing Costs			Total
Accrual balance at December 31, 2012	$	—		$	—		$	—		$	—
Charged to expense	13.6			21.1			9.4			44.1
Cash payments	—			(6.0		)	(9.4		)	(15.4		)
Non-cash utilization	(13.6		)	—			—			(13.6		)
Accrual balance at December 31, 2013	$	—		$	15.1		$	—		$	15.1
Charged to expense	27.3			5.1			27.3			59.7
Cash payments	—			(17.5		)	(27.3		)	(44.8		)
Non-cash utilization	(27.3		)	—			—			(27.3		)
Accrual balance at December 31, 2014	$	—		$	2.7		$	—		$	2.7

In June 2014, PolyOne determined it would close its Diadema and Joinville, Brazil facilities that were acquired in 2011 with the acquisition of Uniplen Industria de Polimeros Ltda. These actions are expected to accelerate our specialty strategy in Brazil, streamline operations and improve our financial performance in the region. The table below summarizes restructuring activity related to Brazil since the date of closure. We do not expect the remaining charges related to these actions to have a material impact to our financial statements going forward.

(In millions)	Asset Charges			Employee Separation			Other Ongoing Costs			Total
Accrual balance at December 31, 2013	$	—		$	—		$	—		$	—
Charged to expense	10.7			2.9			3.4			17.0
Cash payments	—			(1.8		)	(3.4		)	(5.2		)
Non-cash utilization	(10.7		)	—			—			(10.7		)
Accrual balance at December 31, 2014	$	—		$	1.1		$	—		$	1.1

In addition to the Spartech and Brazil actions noted above, during 2014, we recognized $17.4 million of employee separation and restructuring costs primarily in Europe related to the closure of our Bendorf, Germany manufacturing plant along with other reductions in force across Europe. These costs principally related to severance, which are

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recognized within selling and administrative expense. We do not expect the remaining charges related to these actions to have a material impact to our financial statements going forward.

In 2014, we recognized total employee separation and restructuring charges of $94.1 million, which included $54.0 million recognized within Cost of goods sold and $40.1 million recognized in Selling and administrative expenses. In 2013, we recognized total employee separation and restructuring charges of $52.0 million, which included $16.1 million recognized within Cost of goods sold and $35.9 million recognized in Selling and administrative expenses.

Note 5 — DISCONTINUED OPERATIONS

On May 30, 2013, PolyOne sold its Resin Business to Mexichem Specialty Resins Inc. for $250.0 million cash consideration. This sale resulted in the recognition of a pre-tax gain of $223.7 million ($139.7 million, net of tax).

PolyOne has classified the Resin Business operating results as a discontinued operation in the accompanying Consolidated Statements of Income for all periods presented.

The Resin Business' sales, income before income taxes and net income were as follows:

	Year Ended December 31,
(In millions)	2014		2013*			2012
Sales	$	—	$	55.3		$	131.8
Gain on sale	$	—	$	223.7		$	—
Income from operations	—		12.2			29.7
Income before taxes	—		235.9			29.7
Income tax benefit (expense)	1.2		(86.1		)	(11.1		)
Income from discontinued operations, net of income taxes	$	1.2	$	149.8		$	18.6

* Includes the Resin Business' operating results through May 29, 2013.

Note 6 — FINANCING ARRANGEMENTS

Total debt as of December 31 consisted of the following:

(In millions)	December 31, 2014		December 31, 2013
7.500% debentures due 2015	$	48.7	$	48.7
Revolving credit facility due 2018	45.0		—
7.375% senior notes due 2020	316.6		316.6
5.250% senior notes due 2023	600.0		600.0
Other debt	13.5		23.6
Total debt	$	1,023.8	$	988.9
Less short-term and current portion of long-term debt	61.8		12.7
Total long-term debt, net of current portion	$	962.0	$	976.2

During the first quarter of 2014, we repaid an $8.0 million industrial revenue bond that was assumed as a result of the Spartech acquisition.

In 2013, we repurchased $43.4 million aggregate principal amount of our 7.375% senior notes due 2020, $1.3 million aggregate principal amount of our 7.50% debentures due 2015 and $1.6 million of other debt. Additionally, we recognized $5.2 million of debt extinguishment costs within Debt extinguishment costs in our Consolidated Statements of Income in connection with these repurchases.

On February 28, 2013, PolyOne issued $600.0 million aggregate principal amount of senior notes, which mature on March 15, 2023. The senior notes bear an interest rate of 5.25% per year, payable semi-annually, in arrears, on March 15 and September 15 of each year, which commenced on September 15, 2013. We used a portion of the net proceeds of the offering to pay the cash portion of the Spartech acquisition, and to repay certain Spartech debt, including the $88.9 million aggregate principal amount of its senior notes due 2016 and related interest and make-whole payments totaling $13.4 million and all outstanding amounts under its revolving credit facility. We also used a portion of these net proceeds to make a voluntary $50.0 million contribution to our U.S. qualified defined benefit plan and to repay the outstanding principal amount of $297.0 million under our senior secured term loan. We

51POLYONE CORPORATION

incurred debt extinguishment costs of $10.6 million related to the early retirement of our senior secured term loan, including $8.2 million of deferred financing cost write-offs and $2.4 million of discounts that were written off. These costs are presented within Debt extinguishment costs in our Consolidated Statements of Income.

On March 1, 2013, the agreement, dated December 21, 2011, governing our $300.0 millionfive-year senior secured revolving credit facility was amended and restated. The amendment and restatement resulted in an increase in commitments of $100.0 million for a maximum borrowing facility size of $400.0 million, subject to a borrowing base with advances against certain U.S. and Canadian accounts receivable and inventory. We have the option to increase the availability under the facility to $450.0 million, subject to meeting certain requirements and obtaining commitments for such increase. In connection with the amendment and restatement, we also extended the maturity date to March 1, 2018. As of December 31, 2014, we were in compliance with all covenants and there were $45.0 million of outstanding borrowings under our asset-backed revolving credit facility, which had remaining availability of $233.7 million.

The Company maintains a credit line with Saudi Hollandi Bank for $16.0 million, with an interest rate equal to the Saudi Arabia Interbank Offered Rate plus a fixed rate of 0.85%. The credit line is being used to fund capital expenditures related to the manufacturing facility in Jeddah, Saudi Arabia and is subject to an annual renewal. As of December 31, 2014, letters of credit under the credit line were $0.2 million and borrowings were $13.1 million with an interest rate of 1.85%. As of December 31, 2013, letters of credit under the credit line were $0.3 million and borrowings were $12.3 million with an interest rate of 1.85%. As of December 31, 2014 and 2013, there was remaining availability on the credit line of $2.7 million and $3.4 million, respectively.

During 2013, we incurred $13.0 million in debt financing related fees. These costs are included in Other current and Other non-current assets and are being amortized over the life of their respective agreements.

Aggregate maturities of debt for the next five years and thereafter are as follows:

(In millions)
2015	$	61.8
2016 & 2017	—
2018	45.1
2019	0.1
Thereafter	916.8
Aggregate maturities	$	1,023.8

Included in Interest expense, net for the years ended December 31, 2014, 2013 and 2012 was interest income of $1.1 million, $1.3 million and $0.8 million, respectively. Total interest paid on debt was $59.8 million in 2014, $50.4 million in 2013 and $45.8 million in 2012.

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Note 7 — LEASING ARRANGEMENTS

We lease certain manufacturing facilities, warehouse space, machinery and equipment, automobiles, railcars, computers and software under operating leases. Rent expense from continuing operations was $30.4 million in 2014, $24.5 million in 2013 and $20.2 million in 2012.

Future minimum lease payments under non-cancelable operating leases with initial lease terms longer than one year as of December 31, 2014 are as follows (in millions):

(In millions)
2015	$	25.6
2016	19.5
2017	12.7
2018	9.0
2019	7.2
Thereafter	14.5
Total	$	88.5

Note 8 — ACCOUNTS RECEIVABLE, NET

Accounts receivable, net as of December 31 consist of the following:

(In millions)	2014			2013
Trade accounts receivable	$	399.9		$	433.2
Allowance for doubtful accounts	(3.1		)	(5.2		)
Accounts receivable, net	$	396.8		$	428.0

The following table details the changes in allowance for doubtful accounts:

(In millions)	2014			2013			2012
Balance at beginning of the year	$	(5.2	)	$	(4.3	)	$	(4.8	)
Provision for doubtful accounts	(0.4		)	(0.2		)	(0.3		)
Accounts written off	2.2			0.2			0.4
Currency translation and other adjustments	0.3			(0.9		)	0.4
Balance at end of year	$	(3.1	)	$	(5.2	)	$	(4.3	)

Note 9 — INVENTORIES, NET

Components of Inventories, net are as follows:

(In millions)	December 31, 2014		December 31, 2013
Finished products	$	187.8	$	203.6
Work in process	4.1		3.9
Raw materials and supplies	117.1		135.0
Inventories, net	$	309.0	$	342.5

Note 10 — PROPERTY, NET

Components of Property, net are as follows:

(In millions)	December 31, 2014			December 31, 2013
Land and land improvements	$	49.2		$	52.5
Buildings	309.2			315.4
Machinery and equipment	1,077.2			1,079.2
	1,435.6			1,447.1
Less accumulated depreciation and amortization	(838.9		)	(800.9		)
Property, net	$	596.7		$	646.2

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Depreciation expense from continuing operations was $104.7 million in 2014, $91.0 million in 2013 and $52.6 million in 2012. Included in depreciation expense from continuing operations was accelerated depreciation of $23.1 million and $12.7 million during 2014 and 2013, respectively, related to announced restructuring actions.

Note 11 — OTHER BALANCE SHEET LIABILITIES

Other liabilities at December 31, 2014 and 2013 consist of the following:

	Accrued expenses and other liabilities				Other non-current liabilities
	December 31,				December 31,
(In millions)	2014		2013		2014		2013
Employment costs	$	112.2	$	128.7	$	23.4	$	19.1
Environmental liabilities	11.5		12.0		109.6		113.9
Accrued taxes	10.3		34.7		—		—
Pension and other post-employment benefits	5.7		5.7		—		—
Accrued interest	16.1		16.2		—		—
Dividends payable	8.8		7.6		—		—
Unrecognized tax benefits	2.1		0.1		26.0		18.1
Other	6.8		4.3		19.3		18.3
Total	$	173.5	$	209.3	$	178.3	$	169.4

Note 12 — EMPLOYEE BENEFIT PLANS

We recognize actuarial gains and losses in our operating results in the year in which the gains or losses occur. These gains and losses are generally only measured annually as of December 31 and, accordingly, are recorded during the fourth quarter of each year. In the fourth quarter of 2014, we recognized a pre-tax charge of $56.5 million related to the actuarial losses during the year. We recognized a pre-tax benefit of $44.0 millionand charge of $42.0 million in the fourth quarter of 2013 and 2012, respectively.

All U.S. qualified defined benefit pension plans are frozen, no longer accrue benefits and are closed to new participants. We have foreign pension plans that accrue benefits. The plans generally provide benefit payments using a formula that is based upon employee compensation and length of service.

We sponsor several unfunded defined benefit post-retirement plans that provide subsidized health care and life insurance benefits to a certain closed group of retirees. In 2009, we adopted changes to our U.S. post-retirement healthcare plan whereby, effective January 1, 2010, the plan, for certain eligible retirees, was discontinued, and benefits were phased out through December 31, 2012. When this plan change was recognized in 2009, prior service cost amortization was calculated to fully amortize the prior service cost by the end of 2012, consistent with the period of continued benefits.

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The following tables present the change in benefit obligation, change in plan assets and components of funded status for defined benefit pension and post-retirement health care benefit plans. Actuarial assumptions that were used are also included.

	Pension Benefits						Health Care Benefits
(In millions)	2014			2013			2014			2013
Change in benefit obligation:
Projected benefit obligation — beginning of year	$	537.0		$	597.2		$	16.4		$	18.9
Service cost	1.6			1.7			—			—
Interest cost	24.9			23.9			0.7			0.6
Actuarial loss (gain)	70.9			(35.5		)	1.3			(1.0		)
Benefits paid	(54.8		)	(51.5		)	(1.7		)	(2.0		)
Other	(2.8		)	1.2			(0.1		)	(0.1		)
Projected benefit obligation — end of year	$	576.8		$	537.0		$	16.6		$	16.4
Projected salary increases	(3.5		)	(2.8		)	—			—
Accumulated benefit obligation	$	573.3		$	534.2		$	16.6		$	16.4
Change in plan assets:
Plan assets — beginning of year	$	472.2		$	410.4		$	—		$	—
Actual return on plan assets	47.8			44.9			—			—
Company contributions	20.1			68.0			1.5			1.8
Plan participants’ contributions	—			—			0.2			0.2
Benefits paid	(54.8		)	(51.5		)	(1.7		)	(2.0		)
Other	(1.3		)	0.4			—			—
Plan assets — end of year	$	484.0		$	472.2		$	—		$	—
Unfunded status at end of year	$	(92.8	)	$	(64.8	)	$	(16.6	)	$	(16.4	)

Amounts included in the accompanying Consolidated Balance Sheets are as follows:

	Pension Benefits				Health Care Benefits
(In millions)	2014		2013		2014		2013
Non-current assets	$	—	$	1.8	$	—	$	—
Accrued expenses and other liabilities	4.1		4.0		1.6		1.7
Other non-current liabilities	88.7		62.6		15.0		14.7

As of December 31, 2014 and 2013, we had plans with total projected and accumulated benefit obligations in excess of the related plan assets as follows:

	Pension Benefits				Health Care Benefits
(In millions)	2014		2013		2014		2013
Projected benefit obligation	$	566.3	$	528.5	$	16.6	$	16.4
Accumulated benefit obligation	562.8		525.6		16.6		16.4
Fair value of plan assets	473.5		461.9		—		—

Weighted-average assumptions used to determine benefit obligations at December 31:

	Pension Benefits				Health Care Benefits
	2014		2013		2014		2013
Discount rate	3.88	%	4.83	%	3.75	%	4.38	%
Assumed health care cost trend rates at December 31:
Health care cost trend rate assumed for next year	N/A		N/A		6.88	%	7.02	%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	N/A		N/A		4.50	%	4.50	%
Year that the rate reaches the ultimate trend rate	N/A		N/A		2027		2027

Assumed health care cost trend rates have an effect on the amounts reported for the health care plans. A one percentage point change in assumed health care cost trend rates would have the following impact:

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(In millions)	One Percentage Point Increase		One Percentage Point Decrease
Effect on total of service and interest cost	$	—	$	—
Effect on post-retirement benefit obligation	1.1		(1.0		)

The following table summarizes the components of net period benefit cost or gain that was recognized during each of the years in the three-year period ended December 31, 2014. Actuarial assumptions that were used are also included.

	Pension Benefits									Health Care Benefits
(In millions)	2014			2013			2012			2014		2013			2012
Components of net periodic benefit costs (gains):
Service cost	$	1.6		$	1.7		$	1.5		$	—	$	—		$	—
Interest cost	24.9			23.9			27.2			0.7		0.6			0.8
Expected return on plan assets	(32.2		)	(37.4		)	(27.6		)	—		—			—
Amortization of prior service cost	—			—			—			—		—			(17.4		)
Mark-to-market actuarial net losses (gains)	55.2			(43.0		)	44.0			1.3		(1.0		)	(2.0		)
Net periodic benefit cost (gain)	$	49.5		$	(54.8	)	$	45.1		$	2.0	$	(0.4	)	$	(18.6	)

In 2014, we recognized a $56.5 million mark-to-market charge that was primarily a result of the decrease in year end discount rates, as shown in the tables above, and updated mortality assumptions. During 2014, we adopted the RP-2014 mortality table which was issued by the Society of Actuaries in October 2014.

Weighted-average assumptions used to determine net periodic benefit cost for the years ended December 31:

	Pension Benefits						Health Care Benefits
	2014		2013		2012		2014		2013		2012
Discount rate*	4.83	%	4.12	%	5.11	%	4.38	%	3.71	%	4.66	%
Expected long-term return on plan assets*	6.86	%	8.41	%	8.43	%	—	%	—	%	—	%
Assumed health care cost trend rates at December 31:
Health care cost trend rate assumed for next year	N/A		N/A		N/A		7.02	%	7.39	%	8.35	%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	N/A		N/A		N/A		4.50	%	4.63	%	5.00	%
Year that the rate reaches the ultimate trend rate	N/A		N/A		N/A		2027		2025		2019

*The mark-to-market component of net periodic costs is determined based on discount rates as of year end and actual asset returns during the year.

The expected long-term rate of return on pension assets was determined after considering the historical and forward looking long-term asset returns by asset category and the expected investment portfolio mix.

Our pension investment strategy is to diversify the portfolio among asset categories to enhance the portfolio’s risk-adjusted return as well as insulate it from exposure to changes in interest rates. Our asset mix considers the duration of plan liabilities, historical and expected returns of the investments, and the funded status of the plan. The pension asset allocation is reviewed and actively managed based on the funded status of the plan. As the funded status of the plan increases, the asset allocation is adjusted to increase the mix of fixed income investments and match the duration of those investments with the duration of the plan liabilities. Based on the current funded status of the plan, our pension asset investment allocation guidelines are to invest 60% to 70% in fixed income securities, 30% to 40% in equity securities and 0% to 10% in alternative investments and cash. These alternative investments may include funds of multiple asset investment strategies and funds of hedge funds.

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The fair values of pension plan assets at December 31, 2014 and 2013, by asset category, are as follows:

	Fair Value of Plan Assets at December 31, 2014
(In millions)	Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Asset category
Cash	$	6.7	$	—	$	—	$	6.7
Small-cap equity	19.2		—		—		19.2
Registered investment companies:
Non-U.S. equity	44.3		—		—		44.3
Floating rate income	35.7		—		—		35.7
Common collective funds:
Short-term investments	—		18.8		—		18.8
United States equity	—		62.6		—		62.6
Fixed income	—		77.0		—		77.0
United States treasuries	74.6		—		—		74.6
Fixed income securities	124.7		5.2		—		129.9
Other	—		—		15.2		15.2
Totals	$	305.2	$	163.6	$	15.2	$	484.0

	Fair Value of Plan Assets at December 31, 2013
(In millions)	Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Asset category
Cash	$	6.6	$	—	$	—	$	6.6
Equity securities:
Large-cap equity	28.4		—		—		28.4
Small-cap equity	22.0		—		—		22.0
International equity	14.4		—		—		14.4
Registered investment companies:
Fixed income	107.7		—		—		107.7
Non-U.S. equity	45.2		—		—		45.2
Floating rate income	35.3		—		—		35.3
Common collective funds:
Short-term investments	—		14.8		—		14.8
United States equity	—		30.0		—		30.0
United States treasuries	42.8		—		—		42.8
Fixed income securities	125.0		—		—		125.0
Totals	$	427.4	$	44.8	$	—	$	472.2

Large-cap equities represent U.S. publicly-traded equity securities of companies with a market capitalization typically in excess of $10 billion with a focus on growth or value. Small-cap equities represent U.S. publicly-traded equity securities of companies with a market capitalization typically less than $2 billion with a focus on growth or value. International equities primarily represent publicly-traded equity securities of developed international countries and emerging markets with a focus on growth or value. The registered investment company fixed income funds invest primarily in investment grade fixed income securities. The registered investment company non-US equity funds invest in underlying securities that are actively traded in public, non-US markets. The registered investment company floating rate income fund strategy is to invest primarily in a diversified portfolio of first and second lien

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high-yield senior floating rate loans and other floating rate debt securities. Common collective funds are valued at the net value of units held by the fund at year end. The unit value is determined by the total value of fund assets divided by the total number of units of the fund owned. Short-term investments in common collective funds represent cash and other short-term investments. The equity investments in common collective funds are predominately in equity or investment grade fixed income securities actively traded in public markets based upon readily measurable prices. The United States treasuries and fixed income securities consist of publicly traded United States and non-United States fixed interest obligations (principally corporate and government bonds and debentures). Other assets are primarily insurance contracts for international plans.

Level 1 assets are valued based on quoted market prices. Level 2 investments included within the respective common collective trust funds are valued using a net asset value per share that is based on quoted market prices and/or other market data for the same or comparable instruments and transactions of the underlying equity or fixed income investments. The insurance contracts included in the other asset category are valued at the transacted price.

The estimated future benefit payments for our pension and health care plans are as follows:

(In millions)	Pension Benefits		Health Care Benefits
2015	$	50.0	$	1.6
2016	39.5		1.6
2017	39.0		1.5
2018	39.1		1.5
2019	38.6		1.4
2020 through 2024	186.3		6.0

We currently estimate that 2015 employer contributions will be $24.5 million to all qualified and non-qualified pension plans and $1.6 million to all healthcare benefit plans.

PolyOne sponsors various voluntary retirement savings plans (RSP). Under the provisions of the plans, eligible employees receive defined Company contributions and are eligible for Company matching contributions based on their eligible earnings contributed to the plan. In addition, we may make discretionary contributions to the plans for eligible employees based on a specific percentage of each employee’s compensation.

Following are our contributions to the RSP:

(In millions)	2014		2013		2012
Retirement savings match	$	9.7	$	9.8	$	7.6
Retirement benefit contribution	4.0		4.0		3.8
Total contributions	$	13.7	$	13.8	$	11.4

Note 13 — COMMITMENTS AND CONTINGENCIES

Environmental — We or our subsidiaries have been notified by federal and state environmental agencies and by private parties that we may be a potentially responsible party (PRP) in connection with the investigation and remediation of certain environmental sites. While government agencies frequently assert that PRPs are jointly and severally liable at these sites, in our experience, the interim and final allocations of liability costs are generally made based on the relative contribution of waste. We initiate corrective and preventive environmental projects of our own to ensure safe and lawful activities at our operations. We believe that compliance with current governmental regulations at all levels will not have a material adverse effect on our financial condition.

In September 2007, we were informed of rulings by the United States District Court for the Western District of Kentucky on several pending motions in the case of Westlake Vinyls, Inc. v. Goodrich Corporation, et al., which had been pending since 2003. The Court held that PolyOne must pay the remediation costs at the former Goodrich Corporation (now Westlake Vinyls, Inc.) Calvert City facility, together with certain defense costs of Goodrich Corporation. The rulings also provided that PolyOne can seek indemnification for contamination attributable to Westlake Vinyls.

The environmental obligation at the site arose as a result of an agreement between The B.F.Goodrich Company (n/k/a Goodrich Corporation) and our predecessor, The Geon Company, at the time of the initial public offering in 1993, by which the Geon Company became a public company, to indemnify Goodrich Corporation for environmental costs at the site. At the time, neither PolyOne nor The Geon Company ever owned or operated the facility. Following the Court rulings, the parties to the litigation entered into settlement negotiations and agreed to

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settle all claims regarding past environmental costs incurred at the site. The settlement agreement provides a mechanism to pursue allocations of future remediation costs at the Calvert City site to Westlake Vinyls, Inc. While we do not currently assume any allocation of costs in our current reserve, we will adjust our reserve, in the future, consistent with any such future allocation of costs.

A remedial investigation and feasibility study (RIFS) is underway at Calvert City. During the third quarter of 2013, we submitted a remedial investigation report to the United States Environmental Protection Agency (USEPA). The USEPA has required certain changes to the remedial investigation report, and development of a final report by the USEPA is ongoing. Further, we have undertaken steps to develop a feasibility study, including engaging a third party to perform ground water modeling at this site. Utilizing the preliminary results of this study, we were able to develop estimates for potential remedies at Calvert City. Based upon this information, in the fourth quarter of 2013, we adjusted our reserve by $47.0 million to reflect our best estimate of future costs. We expect the remedial investigation report and feasibility study to be finalized at the end of 2015, and we continue to pursue available insurance coverage. No receivable has been recognized for future recoveries.

On March 13, 2013, PolyOne acquired Spartech. One of Spartech's subsidiaries, Franklin-Burlington Plastics, Inc. (Franklin-Burlington), operated a plastic resin compounding facility in Kearny, New Jersey, located adjacent to the Passaic River. The USEPA has requested that companies located in the area of the lower Passaic River, including Franklin-Burlington, cooperate in an investigation of contamination of the lower Passaic River. In response, Franklin-Burlington and approximately 70 other companies (collectively, the Cooperating Parties) agreed, pursuant to an Administrative Order of Consent with the USEPA, to assume responsibility for development of a RIFS of the lower Passaic River. The RIFS costs are exclusive of any costs that may ultimately be required to remediate the lower Passaic River area being studied or costs associated with natural resource damages that may be assessed. By agreeing to bear a portion of the cost of the RIFS, Franklin-Burlington did not admit to any liability or agree to bear any such remediation or natural resource damage costs. In April 2014, the USEPA released a Focused Feasibility Study for public comment for a portion of the lower Passaic River. The Cooperating Parties, along with other interested parties, have submitted comments, and the USEPA is currently reviewing the comments.

Given the uncertainties related to the lower Passaic River, including the fact that the final remedial actions and scope, and the ultimate allocation to Franklin-Burlington, have not yet been determined, we are not able to assess or estimate our remedial liability, if any, related to this matter.

Based on our estimates we had accruals totaling $121.1 million and $125.9 million as of December 31, 2014 and 2013, respectively, for probable future environmental expenditures relating to previously contaminated sites. These accruals are undiscounted and included in Accrued expenses and other liabilities and Other non-current liabilities on the accompanying Consolidated Balance Sheets. The accruals represent our best estimate of probable future costs that we can reasonably estimate, based upon information and technology that is currently available and our view of the most likely remedy. Depending upon the results of future testing, completion and results of remedial investigation and feasibility studies, the ultimate remediation alternatives undertaken, changes in regulations, new information, newly discovered conditions and other factors, it is reasonably possible that we could incur additional costs in excess of the amount accrued at December 31, 2014. However, such additional costs, if any, cannot be currently estimated.

We believe that the probability is remote that losses in excess of amounts we have accrued would be materially adverse to our financial position, results of operations or cash flows.

The following table details the changes in the environmental accrued liabilities:

(In millions)	2014			2013			2012
Balance at beginning of the year	$	125.9		$	75.4		$	76.2
Environmental expenses	10.3			61.2			12.8
Net cash payments	(14.7		)	(14.3		)	(13.7		)
Currency translation and other	(0.4		)	3.6			0.1
Balance at end of year	$	121.1		$	125.9		$	75.4

Included in Cost of sales in the accompanying Consolidated Statements of Income are insurance reimbursements received for previously incurred environmental costs of $3.7 million and $23.5 million in 2014 and 2013, respectively.

Other Litigation — We are involved in various pending or threatened claims, lawsuits and administrative proceedings, all arising from the ordinary course of business concerning commercial, product liability, employment and environmental matters that seek remedies or damages. We believe that the probability is remote that losses in

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excess of the amounts we have accrued would be materially adverse to our financial position, results of operations or cash flows.

Guarantees — On February 28, 2011, we sold our 50% equity interest in SunBelt Chlor Alkali Partnership (Sunbelt) to Olin for $132.3 million in cash and the assumption by Olin of the obligations under our guarantee of senior secured notes issued by SunBelt of $42.7 million at the time of sale, $18.3 million as of December 31, 2014. Unless the guarantee is formally assigned to Olin, we remain obligated under the guarantee, although Olin has agreed to indemnify us for amounts that we may be obligated to pay under the guarantee. The senior secured notes mature in December 2017.

Note 14 — INCOME TAXES

Income from continuing operations, before income taxes is summarized below based on the geographic location of the operation to which such earnings are attributable. Certain foreign operations are branches of PolyOne and are, therefore, subject to United States as well as foreign income tax regulations. As a result, pre-tax income by location and the components of income tax expense by taxing jurisdiction are not directly related.

Income from continuing operations, before income taxes consists of the following:

(In millions)	2014		2013		2012
Domestic	$	54.1	$	105.2	$	46.2
Foreign	34.3		45.8		37.1
Income from continuing operations, before income taxes	$	88.4	$	151.0	$	83.3

A summary of income tax expense from continuing operations is as follows:

(In millions)	2014			2013			2012
Current:
Federal	$	(33.5	)	$	(17.4	)	$	(1.7	)
State	(3.1		)	(2.8		)	(0.9		)
Foreign	(19.8		)	(23.3		)	(14.7		)
Total current	$	(56.4	)	$	(43.5	)	$	(17.3	)
Deferred:
Federal	$	36.7		$	(12.9	)	$	(15.8	)
State	4.6			(1.8		)	0.1
Foreign	3.9			0.1			2.9
Total deferred	$	45.2		$	(14.6	)	$	(12.8	)
Total income tax expense	$	(11.2	)	$	(58.1	)	$	(30.1	)

Refer to Note 5,Discontinued Operations, for income tax expense allocated to discontinued operations.

Reconciliation of income taxes from continuing operations at the U.S. statutory rate of 35% to the consolidated effective tax rate is as follows:

(In millions)	2014			2013			2012
Income tax expense at 35% of income from continuing operations, before income taxes	$	(30.9	)	$	(52.8	)	$	(29.2	)
State tax, net of federal benefit	1.1			(3.9		)	(1.3		)
Differences in rates of foreign operations	5.4			(1.2		)	3.3
Changes in valuation allowances	(6.9		)	(3.1		)	(0.9		)
U.S. research and development credit	1.0			2.1			—
Tax benefits on certain foreign investments	13.4			—			—
Uncertain tax positions	(0.9		)	0.5			0.1
U.S. tax settlements	2.8			—			—
Domestic manufacturing deduction	2.2			1.5			—
Other, net	1.6			(1.2		)	(2.1		)
Income tax expense	$	(11.2	)	$	(58.1	)	$	(30.1	)

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Components of our deferred tax liabilities and assets as of December 31, 2014 and 2013 were as follows:

(In millions)	2014			2013
Deferred tax liabilities:
Tax over book depreciation	$	(76.9	)	$	(87.1	)
Intangibles	(135.2		)	(132.4		)
Other, net	(9.1		)	(13.6		)
Total deferred tax liabilities	$	(221.2	)	$	(233.1	)
Deferred tax assets:
Pension and other post-retirement benefits	$	39.1		$	20.6
Employment costs	47.2			36.8
Environmental	46.5			49.3
Net operating loss carryforwards	42.0			38.0
Other, net	30.6			32.6
Total deferred tax assets	$	205.4		$	177.3
Valuation allowances	(23.6		)	(29.3		)
Net deferred tax liabilities	$	(39.4	)	$	(85.1	)

As of December 31, 2014, we have combined state net operating loss carryforwards of $223.4 million that expire at various dates from 2015 through 2033. Various foreign subsidiaries have net operating loss carryforwards totaling $108.5 million that expire at various dates from 2015 through 2033. We have provided valuation allowances of $21.5 million against certain foreign and state loss carryforwards.

No provision has been made for income taxes on undistributed earnings of consolidated non-U.S. subsidiaries of $281.7 million at December 31, 2014, because our intention is to reinvest indefinitely undistributed earnings of our foreign subsidiaries. It is not practicable to estimate the additional income taxes and applicable foreign withholding taxes that would be payable on the remittance of such undistributed earnings.

We made worldwide income tax payments of $70.0 million and received refunds of $4.2 million in 2014. We made worldwide income tax payments of $120.3 million and $30.8 million in 2013 and 2012, respectively, and received refunds of $2.9 million and $13.0 million in 2013 and 2012, respectively. The increase in income tax payments made in 2013 is primarily related to higher 2013 earnings and the gain recognized related to the divestiture of the Resin Business.

The Company records provisions for uncertain tax positions in accordance with ASC Topic 740, Income Taxes. A reconciliation of unrecognized tax benefits is as follows:

	Unrecognized Tax Benefits
(In millions)	2014			2013			2012
Balance as of January 1	$	15.2		$	14.5		$	15.1
Additions based on tax positions related to the current year	4.8			—			0.2
Additions for tax positions of prior years	0.1			—			—
Reductions for tax positions of prior years	(2.3		)	(0.9		)	(0.4		)
Balances related to acquired businesses	14.2			1.1			—
Settlements and other	(3.4		)	0.5			(0.4		)
Balance as of December 31	$	28.6		$	15.2		$	14.5

We recognize interest and penalties related to uncertain tax positions in the provision for income taxes. As of December 31, 2014 and 2013, we had $8.6 million and $3.0 million accrued for interest and penalties, respectively. The increase during 2014 is primarily associated with purchase accounting adjustments.

Although the timing and outcome of tax settlements are uncertain, it is reasonably possible that during the next 12 months a reduction in unrecognized tax benefits may occur up to $19.2 million based on the outcome of tax examinations and as a result of the expiration of various statues of limitations.

If all unrecognized tax benefits were recognized, the net impact on the provision for income tax expense would be $25.0 million.

The Company is currently being audited by multiple state and foreign taxing jurisdictions. We are no longer subject to U.S. federal income tax examinations for periods preceding 2010 and, with limited exceptions, for periods preceding 2007 for state and 2002 for foreign tax examinations.

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Note 15 — SHARE-BASED COMPENSATION

Share-based compensation cost is based on the value of the portion of share-based payment awards that are ultimately expected to vest during the period. Share-based compensation cost recognized in the accompanying Consolidated Statements of Income includes compensation cost for share-based payment awards based on the grant date fair value estimated in accordance with the provision of FASB ASC Topic 718, Compensation — Stock Compensation. Share-based compensation expense is based on awards expected to vest and therefore has been reduced for estimated forfeitures. We estimate forfeitures at the time of grant and revise that estimate, if necessary, in subsequent periods if actual forfeitures differ from those estimates.

Equity and Performance Incentive Plans

The PolyOne Corporation 2010 Equity and Performance Incentive Plan (2010 EPIP), as amended in 2012, reserved 5.0 million common shares for the award of a variety of share-based compensation alternatives, including non-qualified stock options, incentive stock options, restricted stock, restricted stock units (RSUs), performance shares, performance units and stock appreciation rights (SARs). It is anticipated that all share-based grants and awards that are earned and exercised will be issued from PolyOne common shares that are held in treasury.

Share-based compensation is included in Selling and administrative expense in the accompanying Consolidated Statements of Income. A summary of compensation expense by type of award follows:

(In millions)	2014		2013		2012
Stock appreciation rights	$	5.5	$	6.1	$	5.1
Performance shares	0.7		0.3		—
Restricted stock units	8.0		10.1		5.3
Total share-based compensation	$	14.2	$	16.5	$	10.4

Stock Appreciation Rights

During the years ended December 31, 2014, 2013 and 2012, the total number of SARs granted were 0.3 million, 0.5 million and 0.8 million, respectively. Awards vest in one-third increments upon the later of the attainment of stock price targets and time-based vesting over a three-year service period. Awards granted in 2014 are subject to an appreciation cap of 200% of the base price. Outstanding SARs have contractual terms ranging from seven to ten years from the date of the grant.

The SARs were valued using a Monte Carlo simulation method as the vesting is dependent on the achievement of certain stock price targets. The SARs have time and market-based vesting conditions but vest no earlier than their three year graded vesting schedule. The below expected term assumption for fiscal 2014 is an output from the Monte Carlo model, and are derived from employee exercise assumptions that are based on PolyOne historical exercise experience. The expected volatility was determined based on the average weekly volatility for our common shares for the contractual life of the awards. The expected dividend assumption was determined based upon PolyOne's dividend yield at the time of grant. The risk-free rate of return was based on available yields on U.S. Treasury bills of the same duration as the contractual life of the awards. Forfeitures were estimated at 3% per year based on our historical experience.

The following is a summary of the weighted average assumptions related to the grants issued during 2014, 2013 and 2012:

	2014	2013	2012
Expected volatility (weighted-average)	48.0%	50.0%	53.0%
Expected dividends	0.91%	1.04%	1.37%
Expected term (in years)	6.4	7.4	8.0
Risk-free rate	2.94%	2.12%	2.05%
Value of SARs granted	$14.05	$10.83	$6.92

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A summary of SAR activity for 2014 is presented below:

Stock Appreciation Rights In millions, except per share data)	Shares		Weighted-Average Exercise Price Per Share		Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding as of January 1, 2014	2.1		$	16.63	6.33	$	39.3
Granted	0.3		35.19		—
Exercised	(0.7	)	15.55		—
Forfeited or expired	(0.1	)	32.00		—
Outstanding as of December 31, 2014	1.6		$	20.13	6.63	$	28.9
Vested and exercisable as of December 31, 2014	0.8		$	14.81	5.02	$	19.0

The total intrinsic value of SARs exercised during 2014, 2013 and 2012 was $15.0 million, $14.9 million and $25.5 million, respectively. As of December 31, 2014, there was $2.1 million of total unrecognized compensation cost related to SARs, which is expected to be recognized over the weighted average remaining vesting period of 15 months.

Restricted Stock Units

Restricted stock units (RSUs) represent contingent rights to receive one common share at a future date provided certain vesting criteria are met.

During 2014, 2013 and 2012, the total number of RSUs granted were 0.2 million, 0.5 million and 0.6 million, respectively. These RSUs, which vest on the third anniversary of the grant date, were granted to executives and other key employees. Compensation expense is measured on the grant date using the quoted market price of our common shares and is recognized on a straight-line basis over the requisite service period.

As of December 31, 2014, 1.0 million RSUs remain unvested with a weighted-average grant date fair value of $23.49. Unrecognized compensation cost for RSUs at December 31, 2014 was $6.1 million, which is expected to be recognized over the weighted average remaining vesting period of 12 months.

Note 16 — SEGMENT INFORMATION

A segment is a component of an enterprise whose operating results are regularly reviewed by the enterprise’s chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance, and for which discrete financial information is available.

Operating income is the primary measure that is reported to our chief operating decision maker for purposes of allocating resources to the segments and assessing their performance. Operating income at the segment level does not include: corporate general and administrative expenses that are not allocated to segments; intersegment sales and profit eliminations; charges related to specific strategic initiatives such as the consolidation of operations; restructuring activities, including employee separation costs resulting from personnel reduction programs, plant closure and phase-in costs; executive separation agreements; share-based compensation costs; asset impairments; environmental remediation costs and other liabilities for facilities no longer owned or closed in prior years; gains and losses on the divestiture of joint ventures and equity investments; actuarial gains and losses associated with our pension and other post-retirement benefit plans; and certain other items that are not included in the measure of segment profit or loss that is reported to and reviewed by our chief operating decision maker. These costs are included in Corporate and eliminations.

Segment assets are primarily customer receivables, inventories, net property, plant and equipment, intangibles and goodwill. Intersegment sales are generally accounted for at prices that approximate those for similar transactions with unaffiliated customers. Corporate and eliminations assets and liabilities primarily include cash, debt, environmental liabilities, retained assets and liabilities of discontinued operations, and other unallocated corporate assets and liabilities. The accounting policies of each segment are consistent with those described in Note 1,Description of Business and Summary of Significant Accounting Policies.

The following is a description of each of our five reportable segments.

Global Color, Additives and Inks

Global Color, Additives and Inks is a leading provider of specialized custom color and additive concentrates in solid and liquid form for thermoplastics, dispersions for thermosets, as well as specialty inks, plastisols, and vinyl slush molding solutions. Color and additive solutions include an innovative array of colors, special effects and

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performance-enhancing and eco-friendly solutions. When combined with a non-base resin, our solutions help customers achieve differentiated specialized colors and effects targeted at the demands of today’s highly design-oriented consumer and industrial end markets. Our additive concentrates encompass a wide variety of performance and process enhancing characteristics and are commonly categorized by the function that they perform, such as UV stabilization, antimicrobial, anti-static, blowing or foaming, antioxidant, lubricant, and productivity enhancement. Our colorant and additives concentrates are used in a broad range of polymers, including those used in medical and pharmaceutical devices, food packaging, personal care and cosmetics, transportation, building products, wire and cable markets. We also provide custom-formulated liquid systems that meet a variety of customer needs and chemistries, including vinyl, natural rubber and latex, polyurethane and silicone. Our offering also includes proprietary inks and latexes for diversified markets such as recreational and athletic apparel, construction and filtration, outdoor furniture and healthcare. Our liquid polymer coatings and additives are largely based on vinyl and are used in a variety of markets, including building and construction, consumer, healthcare, industrial, packaging, textiles, appliances, transportation, and wire and cable. Global Color, Additives and Inks has manufacturing, sales and service facilities located throughout North America, South America, Europe, Asia and Africa.

On December 1, 2014, the Company completed the acquisition of specialty assets of Accella, a leading North American manufacturer of liquid polymer formulations, for $47.2 million in cash, net of cash acquired. Accella results are included within the Global Color, Additives and Inks segment.

Global Specialty Engineered Materials

Global Specialty Engineered Materials is a leading provider of specialty polymer formulations, services and solutions for designers, assemblers and processors of thermoplastic materials across a wide variety of markets and end-use applications. Our product portfolio, which we believe to be one of the most diverse in our industry, includes specialty formulated high-performance polymer materials that are manufactured using thermoplastic resins and elastomers, which are then combined with advanced polymer additives, reinforcement, filler, colorant and/or biomaterial technologies. Our technical and market expertise enables us to expand the performance range and structural properties of traditional engineering-grade thermoplastic resins to meet evolving customer needs. Global Specialty Engineered Materials has manufacturing, sales and service facilities located throughout North America, Europe, Asia and South America. Our product development and application reach is further enhanced by the capabilities of our Innovation Centers in the United States, Germany and China, which produce and evaluate prototype and sample parts to help assess end-use performance and guide product development. Our manufacturing capabilities are targeted at meeting our customers’ demand for speed, flexibility and critical quality.

Designed Structures and Solutions

On March 13, 2013, the Company completed the acquisition of Spartech, a supplier of plastic sheet, color and engineered materials, and packaging solutions. As a result of the acquisition, a new reportable segment, "Designed Structures and Solutions", was created. Designed Structures and Solutions is comprised of the former Spartech Custom Sheet and Rollstock and Packaging Technologies businesses. We believe PolyOne's Designed Structures and Solutions segment is a market leader in providing specialized, full service and innovative solutions in engineered polymer structures, rigid barrier packaging and specialty cast acrylics. We utilize a variety of polymers, specialty additives and processing technologies to produce a complete portfolio of sheet, custom rollstock and specialty film, laminate and acrylic solutions. Our solutions can be engineered to provide structural or functional performance in an application or deliver design and visual aesthetics to meet our customers’ needs. Our offerings also include a wide range of sustainable, cost-effective stock and custom packaging solutions for various industry processes used in the food, medical, consumer and graphic arts markets. In addition to packaging, we also work closely with customers to provide solutions for transportation, building and construction, healthcare and consumer markets. Designed Structures and Solutions has manufacturing, sales and service facilities located throughout North America.

Performance Products and Solutions

Performance Products and Solutions is comprised of the Geon Performance Materials (Geon) and Producer Services business units. The Geon business delivers an array of products and services for vinyl molding and extrusion processors located in North America and Asia. The Geon brand name carries strong recognition globally. Geon's products are sold to manufacturers of durable plastic parts and consumer-oriented products. We also offer a wide range of services including materials testing, component analysis, custom formulation development, colorant and additive services, part design assistance, structural analysis, process simulations, mold design and flow analysis and extruder screw design. Vinyl is used across a broad range of markets and applications, including, but not limited to: healthcare, wire and cable, building and construction, consumer and recreational products and transportation and packaging. The Producer Services business unit offers contract manufacturing and outsourced

64POLYONE CORPORATION

polymer manufacturing services to resin producers and polymer marketers, primarily in the United States and Mexico, as well as its own proprietary compounds for pressure pipe and drip irrigation applications. As a strategic and integrated supply chain partner, Producer Services offers resin producers a way to develop custom products for niche markets by using our process technology expertise and multiple manufacturing platforms.

PolyOne Distribution

The PolyOne Distribution business distributes more than 3,500 grades of engineering and commodity grade resins, including PolyOne-produced solutions, principally to the North American and Asian markets. These products are sold to over 6,000 custom injection molders and extruders who, in turn, convert them into plastic parts that are sold to end-users in a wide range of industries. Representing over 25 major suppliers, we offer our customers a broad product portfolio, just-in-time delivery from multiple stocking locations and local technical support. Recent expansion in Central America and Asia have bolstered PolyOne Distribution's ability to serve the specialized needs of customers globally.

Financial information by reportable segment is as follows:

Year Ended December 31, 2014 (In millions)	Sales to  External Customers		Intersegment Sales			Total Sales			Operating Income			Depreciation and Amortization		Capital Expenditures		Total Assets
Global Color, Additives and Inks	835.0		15.8			850.8			124.9			41.4		28.1		937.7
Global Specialty Engineered Materials	555.2		43.1			598.3			72.4			16.7		15.2		370.5
Designed Structures and Solutions	616.5		1.0			617.5			45.1			24.4		25.6		490.2
Performance Products and Solutions	728.2		88.4			816.6			63.1			17.7		15.2		265.5
PolyOne Distribution	1,100.6		13.8			1,114.4			68.2			0.6		0.1		214.2
Corporate and eliminations	—		(162.1		)	(162.1		)	(218.6		)	23.1		8.6		433.1
Total	$	3,835.5	$	—		$	3,835.5		$	155.1		$	123.9	$	92.8	$	2,711.2

Year Ended December 31, 2013 (In millions)	Sales to  External Customers		Intersegment Sales			Total Sales			Operating Income			Depreciation and Amortization(1)		Capital Expenditures (1a)		Total Assets
Global Color, Additives and Inks	844.6		7.7			852.3			104.0			38.8		29.3		962.0
Global Specialty Engineered Materials	571.9		43.6			615.5			57.2			18.8		14.3		379.6
Designed Structures and Solutions	597.3		0.1			597.4			33.4			21.2		13.4		549.4
Performance Products and Solutions	690.9		82.3			773.2			56.0			15.5		12.4		278.7
PolyOne Distribution	1,066.5		8.7			1,075.2			63.3			0.6		0.3		216.7
Corporate and eliminations	—		(142.4		)	(142.4		)	(82.4		)	13.9		6.5		557.7
Total	$	3,771.2	$	—		$	3,771.2		$	231.5		$	108.8	$	76.2	$	2,944.1

(1) Excludes $1.0 million of depreciation expense associated with the Resin Business.

(1a) Excludes $0.2 million of capital expenditures associated with the Resin Business.

Year Ended December 31, 2012 (In millions)	Sales to  External Customers		Intersegment Sales			Total Sales			Operating Income			Depreciation and Amortization (2)		Capital Expenditures (2a)		Total Assets
Global Color, Additives and Inks	776.1		2.1			778.2			75.3			32.9		28.2		901.7
Global Specialty Engineered Materials	504.9		38.7			543.6			47.0			14.3		12.9		396.6
Performance Products and Solutions	554.9		75.4			630.3			38.8			13.7		4.6		205.4
PolyOne Distribution	1,024.9		5.4			1,030.3			66.0			0.7		0.6		212.9
Corporate and eliminations	—		(121.6		)	(121.6		)	(89.6		)	4.2		8.5		411.4
Total	$	2,860.8	$	—		$	2,860.8		$	137.5		$	65.8	$	54.8	$	2,128.0

(2) Excludes $4.0 million of depreciation expense associated with the Resin Business.

(2a) Excludes $2.6 million of capital expenditures associated with the Resin Business.

65POLYONE CORPORATION

Our sales are primarily to customers in the United States, Canada, Mexico, Europe, South America and Asia, and the majority of our assets are located in these same geographic areas. Following is a summary of sales and long-lived assets based on the geographic areas where the sales originated and where the assets are located:

(In millions)	2014		2013		2012
Sales:
United States	$	2,590.4	$	2,538.2	$	1,724.1
Europe	511.8		519.7		488.1
Canada	277.4		267.8		248.1
Asia	246.2		239.0		221.2
Mexico	178.4		158.1		141.8
South America	31.3		48.4		37.5
Total Sales	$	3,835.5	$	3,771.2	$	2,860.8
Long-lived assets:
United States	$	421.1	$	444.4	$	240.9
Europe	95.7		103.0		82.2
Canada	12.8		13.2		5.7
Asia	39.5		51.8		45.1
Mexico	19.7		20.5		3.5
South America	7.9		13.3		8.4
Total Long-lived assets	$	596.7	$	646.2	$	385.8

Note 17 — COMMON SHARE DATA

Weighted-average shares used in computing net income per share are as follows:

(In millions)	2014	2013	2012
Weighted-average shares — basic:	92.3	95.5	89.1
Plus dilutive impact of share-based compensation	1.2	1.0	0.7
Weighted-average shares — diluted:	93.5	96.5	89.8

Outstanding share-based awards with exercise prices greater than the average price of the common shares are anti-dilutive and are not included in the computation of diluted net income per share. The number of anti-dilutive options and awards was 0.4 million, 0.3 million and 1.2 million at December 31, 2014, 2013 and 2012, respectively.

In August 2008, our Board of Directors approved a stock repurchase program authorizing us to repurchase up to 10.0 million of our common shares, in the open market or in privately negotiated transactions. On October 11, 2011, PolyOne’s Board of Directors increased the common share repurchase authorization amount by 5.3 million and on October 23, 2012 increased the authorization an additional 13.2 million. As of December 31, 2014, the total common shares available for repurchase is 8.7 million. PolyOne may make all or part of any repurchases pursuant to accelerated share repurchases or Rule 10b5-1 plans.

We purchased 6.3 million, 5.0 million and 1.2 million shares in 2014, 2013 and 2012, respectively, at an aggregate price of $233.2 million, $131.6 million and $15.9 million, respectively, under these authorizations.

Note 18 — DERIVATIVE INSTRUMENTS

When translating results from foreign operations into U.S. dollars, we are subject to foreign exchange related risks in our operating results. We are also exposed to foreign exchange risk arising from intercompany lending transactions denominated in various foreign currencies that are subject to foreign exchange rate movement over the term of the loans. To mitigate these risks we enter into foreign exchange option and forward contracts. The counterparties to these instruments are financial institutions with strong credit ratings. PolyOne maintains control over the size of positions entered into with any one counterparty and regularly monitors the credit ratings of these institutions.

Derivative financial instruments are accounted for at fair value and recognized as assets or liabilities in the Consolidated Balance Sheets. These instruments are not designated as a hedge, and therefore, any gain or loss is immediately recognized in income.

66POLYONE CORPORATION

The fair values of derivative financial instruments recorded in the Consolidated Balance Sheets are as follows: 

	December 31, 2014
(In millions)	Notional		Other current assets
Foreign currency forwards	$	5.1	$	—

	December 31, 2013
(In millions)	Notional		Other current assets
Foreign currency forwards	$	12.8	$	—

The effects of derivative instruments on our Consolidated Statements of Income are as follows: 

(In millions)	2014		2013			2012			Location
Foreign currency options - (losses)	$	—	$	(0.4	)	$	(1.4	)	Selling and administrative expense
Foreign currency forwards - gains/(losses)	1.1		(0.6		)	(0.4		)	Other expense, net

Note 19 — FAIR VALUE

Fair value is measured based on an exit price, representing the amount that would be received to sell an asset or paid to satisfy a liability in an orderly transaction between market participants. Fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, a fair value hierarchy is established, which categorizes the inputs used in measuring fair value as follows: (Level 1) observable inputs such as quoted prices in active markets; (Level 2) inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and (Level 3) unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.

Financial instruments accounted for at fair value on a recurring basis as of December 31, 2014 and 2013 are as follows: 

	December 31, 2014
(In millions)	Total		Quoted prices in active markets for identical assets (Level 1)		Other observable inputs (Level 2)		Unobservable inputs (Level 3)
Cash and cash equivalents	$	238.6	$	238.6	$	—	$	—

	December 31, 2013
(In millions)	Total		Quoted prices in active markets for identical assets (Level 1)		Other observable inputs (Level 2)		Unobservable inputs (Level 3)
Cash and cash equivalents	$	365.2	$	365.2	$	—	$	—

The fair value of derivative instruments are classified as Level 2 and are determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves and spot and forward foreign currency rates as well as option volatility and non-performance risk.

Other Fair Value Measurements

The estimated fair value of PolyOne’s debt instruments at December 31, 2014 and 2013 was $1,045.4 million and $1,010.3 million, respectively, compared to carrying values of $1,023.8 million and $988.9 million as of December 31, 2014 and 2013, respectively. The fair value of PolyOne’s debt instruments was estimated using prevailing market interest rates on debt with similar creditworthiness, terms and maturities and represent Level 2 measurements within the fair value hierarchy.

In accordance with the provisions of FASB ASC Topic 350, Intangibles — Goodwill and Other, we assess the fair value of goodwill on an annual basis. The implied fair value of goodwill is determined based on significant unobservable inputs, as summarized below. Accordingly, these inputs fall within Level 3 of the fair value hierarchy.

67POLYONE CORPORATION

No impairment charges were included in 2014, 2013 or 2012. We use an income approach to estimate the fair value of our reporting units. The income approach uses a reporting unit’s projection of estimated operating results and cash flows that is discounted using a weighted-average cost of capital that is determined based on current market conditions. The projection uses management’s best estimates of economic and market conditions over the projected period including growth rates in sales, costs and number of units, estimates of future expected changes in operating margins and cash expenditures. Other significant estimates and assumptions include terminal value growth rates, terminal value margin rates, future capital expenditures and changes in future working capital requirements. We validate our estimates of fair value under the income approach by considering the implied control premium and conclude whether the implied control premium is reasonable based on other recent market transactions.

Indefinite-lived intangible assets primarily consist of the GLS and ColorMatrix trade names. Indefinite-lived intangible assets are tested for impairment annually at the same time we test goodwill for impairment. The implied fair value of indefinite-lived intangible assets is determined based on significant unobservable inputs, as summarized below. Accordingly, these inputs fall within Level 3 of the fair value hierarchy. No impairment charges were included in 2014, 2013 or 2012.

The fair value of the trade names is calculated using a “relief from royalty” methodology. This approach involves two steps (1) estimating reasonable royalty rates for the trade name and (2) applying this royalty rate to a net sales stream and discounting the resulting cash flows to determine fair value. This fair value is then compared with the carrying value of the trade name.

Note 20 — SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)

	2014 Quarters									2013 Quarters
(In millions, except per share data)	Fourth (2)			Third (3)		Second (4)		First (5)		Fourth(6)		Third (7)		Second (8)		First (9)
Sales	$	869.3		$	958.4	$	1,005.5	$	1,002.3	$	923.6	$	1,008.9	$	1,037.6	$	801.1
Gross Margin	152.6			182.6		184.5		188.2		114.9		181.3		203.7		162.3
Operating (loss)/income	(14.3		)	63.6		49.4		56.4		48.7		61.6		80.7		40.5
Net (loss)/income from continuing operations	(15.0		)	32.3		30.7		29.2		20.6		23.0		38.3		11.0
Net (loss)/income from continuing operations attributable to PolyOne shareholders	$	(14.6	)	$	32.3	$	30.9	$	29.4	$	21.0	$	23.2	$	38.6	$	11.2
Net income from continuing operations per common share attributable to PolyOne common shareholders: (1)
Basic net (loss)/income - continuing operations	$	(0.16	)	$	0.35	$	0.33	$	0.31	$	0.22	$	0.24	$	0.39	$	0.12
Diluted net (loss)/income - continuing operations	$	(0.16	)	$	0.35	$	0.33	$	0.31	$	0.22	$	0.24	$	0.39	$	0.12

(1) Per share amounts for the quarter and the full year have been computed separately. The sum of the quarterly amounts may not equal the annual amounts presented because of differences in the average shares outstanding during each period.

(2) Included for the fourth quarter 2014 are: 1) mark-to-market pension and other post-retirement charge of $56.5 million, 2) employee separation and restructuring costs of $23.2 million, 3) environmental remediation costs of $2.6 million and 5) a gain related to the reimbursement of previously incurred environmental costs of $2.1 million.

(3) Included for the third quarter 2014 are: 1) $17.9 million in employee separation and restructuring costs, 2) $5.9 million in environmental remediation costs and 3) a gain related to the reimbursement of previously incurred environmental costs of $1.6 million.

(4) Included for the second quarter 2014 are: 1) $35.1 million in employee separation and restructuring costs and 2) $5.4 million tax benefit associated with our investments in certain foreign affiliates.

(5) Included for the first quarter 2014 are: 1) $17.9 million in employee separation and restructuring costs.

(6) Included for the fourth quarter 2013 are: 1) gains from the SunBelt earn-out of $26.8 million, 2) mark-to-market pension and other post-retirement benefit gains of $44.0 million, 3) environmental remediation costs of $52.6 million, 4) a gain related to the reimbursement of previously incurred environmental costs of $3.4 million and 5) employee separation and restructuring costs of $28.3 million.

(7) Included for the third quarter 2013 are: 1) $5.3 million in environmental remediation costs, 2) $10.9 million in employee separation and restructuring costs, 3) $7.0 million gain on commercial litigation, 4) $5.2 million in debt extinguishment costs associated with our outstanding debt repurchases and 5) $1.2 million of acquisition and divestiture-related costs.

(8) Included for the second quarter 2013 are: 1) pre-tax gain of $223.7 million related to the sale of the Resin Business, 2) $2.9 million in employee separation and restructuring costs, 3) acquisition and divestiture-related costs of $4.9 million, 4) environmental remediation costs of $1.3 million and 5) a gain related to the reimbursement of previously incurred environmental costs of $14.9 million.

(9) Included for the first quarter 2013 are: 1) $9.9 million in employee separation and restructuring costs 2) acquisition and divestiture-related costs of $8.7 million, 3) environmental remediation costs of $2.0 million, 4) a gain related to the reimbursement of previously incurred environmental costs of $5.2 million and 5) $10.6 million in debt extinguishment costs related to the early retirement of our senior secured term loan.

68POLYONE CORPORATION

ITEM 9.CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

None.

ITEM 9A.CONTROLS AND PROCEDURES

Disclosure controls and procedures

PolyOne’s management, with the participation of the Chief Executive Officer and the Chief Financial Officer, has evaluated the effectiveness of the design and operation of PolyOne’s disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934) as of December 31, 2014. Based on this evaluation, the Chief Executive Officer and the Chief Financial Officer have concluded that our disclosure controls and procedures were effective as of December 31, 2014.

Management’s annual report on internal control over financial reporting

The following report is provided by management in respect of PolyOne’s internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Securities Exchange Act of 1934):

1.	PolyOne’s management is responsible for establishing and maintaining adequate internal control over financial reporting.
2.	Under the supervision of and with participation of PolyOne’s management, including the Chief Executive Officer and the Chief Financial Officer, we conducted an evaluation of the effectiveness of internal control over financial reporting as of December 31, 2014 based on the guidelines established in Internal Control - Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) (2013 Framework). Management believes that the COSO framework is a suitable framework for its evaluation of financial reporting because it is free from bias, permits reasonably consistent qualitative and quantitative measurements of PolyOne’s internal control over financial reporting, is sufficiently complete so that those relevant factors that would alter a conclusion about the effectiveness of PolyOne’s internal control over financial reporting are not omitted and is relevant to an evaluation of internal control over financial reporting.
3.	Based on the results of our evaluation, management has concluded that such internal control over financial reporting was effective as of December 31, 2014. There were no material weaknesses in internal control over financial reporting identified by management. The results of management's assessment were reviewed with our Audit Committee.
4.	Ernst & Young LLP, who audited the consolidated financial statements of PolyOne for the year ended December 31, 2014, also issued an attestation report on PolyOne’s internal control over financial reporting under Auditing Standard No. 5 of the Public Company Accounting Oversight Board. This attestation report is set forth on page 36 of this Annual Report on Form 10-K and is incorporated by reference into this Item 9A.

Changes in internal control over financial reporting

There were no changes in the Company’s internal control over financial reporting that occurred during the quarter ended December 31, 2014 that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.

Limitations in internal control over financial reporting

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

ITEM 9B.OTHER INFORMATION

None.

PART III

ITEM 10.DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

The information regarding PolyOne’s directors, including the identification of the audit committee and audit committee financial experts, is incorporated by reference to the information contained in PolyOne’s Proxy Statement with respect to the 2015 Annual Meeting of Shareholders (2015 Proxy Statement). Information

69POLYONE CORPORATION

concerning executive officers is contained in Part I of this Annual Report on Form 10-K under the heading “Executive Officers of the Registrant.”

The information regarding Section 16(a) beneficial ownership reporting compliance is incorporated by reference to the material under the heading “Section 16(a) Beneficial Ownership Reporting Compliance” in the 2015 Proxy Statement.

The information regarding any changes in procedures by which shareholders may recommend nominees to PolyOne’s Board of Directors is incorporated by reference to the information contained in the 2015 Proxy Statement.

PolyOne has adopted a code of ethics that applies to its principal executive officer, principal financial officer and principal accounting officer. PolyOne’s code of ethics is posted under the Investor Relations tab of its website at www.polyone.com. PolyOne will post any amendments to, or waivers of, its code of ethics that apply to its principal executive officer, principal financial officer and principal accounting officer on its website.

ITEM 11.EXECUTIVE COMPENSATION

The information regarding executive officer and director compensation is incorporated by reference to the information contained in the 2015 Proxy Statement.

The information regarding compensation committee interlocks and insider participation and the compensation committee report is incorporated by reference to the information contained in the 2015 Proxy Statement.

ITEM 12.SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED SHAREHOLDER MATTER

The information about our equity compensation plans is incorporated by reference to information contained in the 2015 Proxy Statement.

The information regarding security ownership of certain beneficial owners and management is incorporated by reference to the information contained in the 2015 Proxy Statement.

ITEM 13.CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

The information regarding certain relationships and related transactions and director independence is incorporated by reference to the information contained in the 2015 Proxy Statement.

ITEM 14.PRINCIPAL ACCOUNTANT FEES AND SERVICES

Information regarding fees paid to and services provided by PolyOne’s independent registered public accounting firm and the pre-approval policies and procedures of the audit committee is incorporated by reference to the information contained in the 2015 Proxy Statement.

PART IV

ITEM 15.EXHIBITS AND FINANACIAL STATEMENT SCHEDULES

(a)(1) Financial Statements:

The following consolidated financial statements of PolyOne Corporation are included in Item 8:

Consolidated Statements of Income for the years ended December 31, 2014, 2013 and 2012

Consolidated Statements of Comprehensive Income for the years ended December 31, 2014, 2013 and 2012

Consolidated Balance Sheets at December 31, 2014 and 2013

Consolidated Statements of Cash Flows for the years ended December 31, 2014, 2013 and 2012

Consolidated Statements of Shareholders’ Equity for the years ended December 31, 2014, 2013 and 2012

Notes to Consolidated Financial Statements

All other schedules for which provision is made in Regulation S-X of the SEC are not required under the related instructions or are inapplicable and, therefore, have been omitted.

(a)(3) Exhibits.

Refer to the Exhibit Index, which is incorporated by reference herein.

70POLYONE CORPORATION

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	POLYONE CORPORATION
February 13, 2015	BY:	/S/ BRADLEY C. RICHARDSON
		Bradley C. Richardson Executive Vice President and Chief Financial Officer (Principal Financial and Accounting Officer)

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant and in the capacities indicated and on the dates indicated.

Signature and Title
/S/ ROBERT M. PATTERSON	President and Chief Executive Officer and Director (Principal Executive Officer)	Date: February 13, 2015
Robert M. Patterson
/S/ BRADLEY C. RICHARDSON	Executive Vice President and Chief Financial Officer (Principal Financial and Accounting Officer)	Date: February 13, 2015
Bradley C. Richardson
/S/ STEPHEN D. NEWLIN	Executive Chairman and Director	Date: February 13, 2015
Stephen D. Newlin
/S/ RICHARD H. FEARON	Director	Date: February 13, 2015
Richard H. Fearon
/S/ GREGORY J. GOFF	Director	Date: February 13, 2015
Gregory J. Goff
/S/ GORDON D. HARNETT	Director	Date: February 13, 2015
Gordon D. Harnett
/S/ SANDRA BEACH LIN	Director	Date: February 13, 2015
Sandra Beach Lin
/S/ RICHARD A. LORRAINE	Director	Date: February 13, 2015
Richard A. Lorraine
/S/ WILLIAM H. POWELL	Director	Date: February 13, 2015
William H. Powell
/S/ KERRY J. PREETE	Director	Date: February 13, 2015
Kerry J. Preete
/S/ FARAH M. WALTERS	Director	Date: February 13, 2015
Farah M. Walters
/S/ WILLIAM A. WULFSOHN	Director	Date: February 13, 2015
William A. Wulfsohn

71POLYONE CORPORATION

EXHIBIT INDEX

Exhibit No.	Exhibit Description
2.1†	Purchase Agreement, dated as of February 28, 2011, by and among PolyOne Corporation, 1997 Chloralkali Venture, LLC, Olin Corporation and Olin SunBelt II, Inc. (incorporated by reference to Exhibit 2.1 to the Company’s Current Report on Form 8-K filed March 3, 2011, SEC File No. 1-16091)
2.2†	Agreement and Plan of Merger, dated as of September 30, 2011, among PolyOne Corporation, 2011 ColorNewton Inc., ColorMatrix Group, Inc., and Audax ColorMatrix Holdings, LLC (Incorporated by reference to Exhibit 2.1 to PolyOne Corporation’s current report on Form 8-K filed on October 5, 2011, SEC File No. 1-16091)
2.3†	Agreement and Plan of Merger, dated October 23, 2012, by and among PolyOne Corporation, 2012 RedHawk, Inc., 2012 RedHawk, LLC and Spartech Corporation (Incorporated by reference to Exhibit 2.1 to PolyOne Corporation’s current report on Form 8-K filed on October 24, 2012, SEC File No. 1-16091)
2.4†	Asset Purchase Agreement, dated as of March 25, 2013, by and between PolyOne Corporation and Mexichem Specialty Resins Inc. (incorporated by reference to Exhibit 2.1 to the Company’s Current Report on Form 8-K filed March 27, 2013, SEC File No. 1-16091)
3.1	Articles of Incorporation (incorporated by reference to Exhibit 3(i) to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2000, SEC File No. 1-16091)
3.2	Amendment to the Second Article of the Articles of Incorporation, as filed with the Ohio Secretary of State, November 25, 2003 (incorporated by reference to Exhibit 3.1a to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2003, SEC File No. 1-16091)
3.3	Regulations (incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K filed on July 17, 2009, SEC File No. 1-16091)
4.1	Indenture, dated as of December 1, 1995, between the Company and NBD Bank, as trustee (incorporated by reference to Exhibit 4.3 to The Geon Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 1996, SEC File No. 1-11804)
4.2	Indenture, dated as of September 24, 2010, between the Company and Wells Fargo Bank, N.A., as Trustee (incorporated by reference to Exhibit 4.1 to the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2010, SEC File No. 1-16091)
4.3	First Supplemental Indenture, dated as of September 24, 2010, between the Company and Wells Fargo Bank, N.A., as Trustee (incorporated by reference to Exhibit 4.2 to the Company’s Quarterly Report Form 10-Q for the quarter ended September 30, 2010, SEC File No. 1-16091)
4.4	Indenture, dated February 28, 2013, between PolyOne Corporation and Wells Fargo Bank, National Association, as trustee (incorporated by reference to Exhibit 4.1 to the Company’s Current Report on Form 8-K filed on March 5, 2013, SEC File No. 1-16091)
10.1	Amended and Restated Credit Agreement, dated March 1, 2013, among the Company, PolyOne Canada and certain other subsidiaries of the Company, Wells Fargo Capital Finance, LLC, as administrative agent, Bank of America, N.A. and U.S. Bank National Association, as syndication agents, PNC Bank National Association and KeyBank National Association, as documentation agents, and Wells Fargo Capital Finance, LLC and Merrill, Lynch, Pierce, Fenner & Smith Incorporated, as joint lead arrangers and bookrunners (incorporated by reference to Exhibit 10.2 to the Company’s Current Report on Form 8-K filed on March 5, 2013, SEC File No. 1-16091)
10.2+	Form of 2011 Award Agreement under the 2010 Equity and Performance Incentive Plan (incorporated by reference to Exhibit 10.1 to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2011, SEC File No. 1-16091)
10.3+	PolyOne Corporation 2010 Equity and Performance Incentive Plan (incorporated by reference to Exhibit 4.4 to the Company’s Registration Statement on Form S-8, Registration Statement No. 333-166775, filed on May 12, 2010)
10.4+	PolyOne Senior Executive Annual Incentive Plan (effective January 1, 2011) (incorporated by reference to Appendix B to the Company’s definitive proxy statement on Schedule 14A, SEC File No. 1-16091, filed on March 29, 2010)
10.5+	Form of Grant of Stock-Settled Stock Appreciation Rights under the 2010 Long-Term Incentive Plan (incorporated by reference to Exhibit 10.2 to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2010, SEC File No. 1-16091)
10.6+	Amended and Restated Benefit Restoration Plan (Section 401(a)(17)) (incorporated by reference to Exhibit 10.8 of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2007, SEC File No. 1-16091)
10.7+	Amended and Restated Deferred Compensation Plan for Non-Employee Directors (as amended and restated effective May 20, 2014)**
10.8+	Form of Management Continuity Agreement for Executive Officers prior to 2011 (incorporated by reference to Exhibit 10.13 to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2007, SEC File No. 1-16091)
10.9+	Form of Management Continuity Agreement for Executive Officers after 2011 (incorporated by reference to Exhibit 10.12 to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013, SEC File No. 1-16091)

Exhibit No.	Exhibit Description
10.10+	Schedule of Executive Officers with Management Continuity Agreements**
10.11+	PolyOne Supplemental Retirement Benefit Plan (As Amended and Restated Effective January 1, 2014) (incorporated by reference to Exhibit 10.14 to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013, SEC file No. 1-16091)
10.12+	Amended and Restated Letter Agreement, dated as of March 6, 2014, between the Company and Stephen D. Newlin, originally effective as of February 13, 2006 (incorporated by reference to Exhibit 10.1 to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2014, SEC File No. 1-16091)
10.13+	Assumption of Liabilities and Indemnification Agreement, dated March 1, 1993, amended and restated by Amended and Restated Assumption of Liabilities and Indemnification Agreement, dated April 27, 1993 (incorporated by reference to Exhibit 10.14 to The Geon Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 1996, SEC File No. 1-11804)
10.14+	Unconditional and Continuing Guaranty, between the Company and Olin Corporation and Sunbelt Chlor Alkali Partnership (incorporated by reference to Exhibit 10(c) to The Geon Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 1996, SEC File No. 1-11804)
10.15+	Asset Contribution Agreement - PVC Partnership (Geon) (incorporated by reference to Exhibit 10.3 to The Geon Company’s Current Report on Form 8-K filed on May 13, 1999, SEC File No. 1-11804)
10.16+	Form of 2007 Award Agreement for Stock-Settled Stock Appreciation Rights (incorporated by reference to Exhibit 10.1 to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2007, SEC File No. 1-16091)
10.17+	PolyOne Corporation 2008 Equity and Performance Incentive Plan (incorporated herein by reference to Appendix A to the Registrant’s proxy statement on Schedule 14A (SEC File No. 1-16091), filed on March 25, 2008)
10.18+	Form of 2008 Award Agreement for Stock-Settled Stock Appreciation Rights (incorporated by reference to Exhibit 10.2 to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2008, SEC File No. 1-16091)
10.19+	First Amendment to The Geon Company Section 401(a)(17) Benefit Restoration Plan (December 31, 2007 Restatement) (incorporated by reference to Exhibit 10.1 to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2009, SEC File No. 1-16091)
10.20+	Form of 2009 Grant of Stock-Settled Stock Appreciation Rights under the 2009 Long-Term Incentive Plan (incorporated by reference to Exhibit 10.4 to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2009, SEC File No. 1-16091)
10.21+	Executive Severance Plan, as amended and restated effective May 15, 2014 (incorporated by reference to Exhibit 10.1 to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2014, SEC File No. 1-16091)
10.22+	First Amendment to the PolyOne Corporation 2010 Equity and Performance Incentive Plan (incorporated by reference to Appendix A to the Company's definitive proxy statement on Schedule 14A, SEC File No. 1-16091, filed on March 23, 2012)
10.23+	Form of 2012 Award Agreement under the PolyOne Corporation 2010 Equity and Performance Incentive Plan, as amended (incorporated by reference to Exhibit 10.38 to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2012, SEC File No. 1-16091)
10.24+	Form of 2013 Award Agreement under the PolyOne Corporation 2010 Equity and Performance Incentive Plan, as amended (incorporated by reference to Exhibit 10.27 to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013, SEC File No. 1-16091)
10.25+	Form of Director and Officer Indemnification Agreement (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on July 5, 2006, SEC File No. 1-16091)
10.26+	Form of 2014 Award Agreement under the PolyOne Corporation 2010 Equity and Performance Incentive Plan, as amended (incorporated by reference to Exhibit 10.2 to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2014, SEC File No. 1-16091)
21.1	Subsidiaries of the Company**
23.1	Consent of Independent Registered Public Accounting Firm - Ernst & Young LLP**
31.1	Certification of Robert M. Patterson, President and Chief Executive Officer, pursuant to SEC Rules 13a-14(a) and 15d-14(a), adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002**
31.2	Certification of Bradley C. Richardson, Executive Vice President and Chief Financial Officer, pursuant to SEC Rules 13a-14(a) and 15d-14(a), adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002**
32.1	Certification pursuant to 18 U.S.C. § 1350, adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, as signed by Robert M. Patterson, President and Chief Executive Officer**
32.2	Certification pursuant to 18 U.S.C. § 1350, adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, as signed by Bradley C. Richardson, Executive Vice President and Chief Financial Officer**
101 .INS	XBRL Instance Document**
101 .SCH	XBRL Taxonomy Extension Schema Document**
101 .CAL	XBRL Taxonomy Extension Calculation Linkbase Document**
101 .LAB	XBRL Taxonomy Extension Label Linkbase Document**

Exhibit No.	Exhibit Description
101 .PRE	XBRL Taxonomy Extension Presentation Linkbase Document**
101 .DEF	XBRL Taxonomy Definition Linkbase Document**

+ Indicates management contract or compensatory plan, contract or arrangement in which one or more directors or executive officers of the Registrant may be participants

† The exhibits and schedules have been omitted pursuant to Item 601(b)(2) of Regulation S-K and will be provided to the Securities and Exchange Commission upon request.

** Filed herewith.

EX-10.7

Exhibit 10.7

POLYONE CORPORATION

DEFERRED COMPENSATION PLAN

FOR NON-EMPLOYEE DIRECTORS

(As Amended and Restated Effective May 20, 2014)

ARTICLE I

PURPOSE OF THE PLAN

The purpose of the PolyOne Corporation Deferred Compensation Plan for Non-Employee Directors is to provide any Non-Employee Director of PolyOne Corporation (the “Company”) the option to defer receipt of the compensation payable for services as a Director and to build loyalty to the Company through increased ownership in the Company’s Common Stock.

ARTICLE II

DEFINITIONS

As used herein, the following words shall have the meaning stated after them unless otherwise specifically provided:

2.1“Calendar Year” shall mean the twelve month period January 1 through December 31.

2.2“Change in Control”shall mean any of the following events:

(a)    The acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (a “Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of voting securities of the Company where such acquisition causes such Person to own 20% or more of the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); provided, however, that for purposes of this subsection (a), the following acquisitions shall not be deemed to result in a Change of Control: (i) any acquisition directly from the Company, (ii) any acquisition by the Company, (iii) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company or (iv) any acquisition by any corporation pursuant to a transaction that complies with clauses (i), (ii) and (iii) of subsection (c) below; provided, further, that if any Person’s beneficial ownership of the Outstanding Company Voting Securities reaches or exceeds 20% as a result of a transaction described in clause (i) or (ii) above, and such Person subsequently acquires beneficial ownership of additional voting securities of the Company, such subsequent acquisition shall be treated as an acquisition that causes such Person to own 20% or more of the Outstanding Company Voting Securities; and provided, further, that if at least a majority of the members of the Incumbent Board

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determines in good faith that a Person has acquired beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 20% or more of the Outstanding Company Voting Securities inadvertently, and such Person divests as promptly as practicable a sufficient number of shares so that such Person beneficially owns (within the meaning of Rule 13d-3 promulgated under the Exchange Act) less than 20% of the Outstanding Company Voting Securities, then no Change of Control shall have occurred as a result of such Person’s acquisition; or

(b)    Individuals who, as of May 20, 2014, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to May 20, 2014 whose election, or nomination for election by the Company’s shareholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board; or

(c)    The consummation of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the assets of the Company or the acquisition of assets of another corporation (“Business Combination”); excluding, however, such a Business Combination pursuant to which (i) all or substantially all of the individuals and entities who were the beneficial owners of the Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 60% of, respectively, the then outstanding shares of common stock and the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such Business Combination (including, without limitation, a corporation that as a result of such transaction owns the Company or all or substantially all of the Company’s assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately prior to such Business Combination of the Outstanding Company Voting Securities, (ii) no Person (excluding any employee benefit plan (or related trust) of the Company or such corporation resulting from such Business Combination) beneficially owns, directly or indirectly, 20% or more of, respectively, the then outstanding shares of common stock of the corporation resulting from such Business Combination or the combined voting power of the then outstanding voting securities of such corporation except to the extent that such ownership existed prior to the Business Combination and (iii) at least a majority of the members of the board of directors of the corporation resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board, providing for such Business Combination; or

(d)    Approval by the shareholders of the Company of a complete liquidation or dissolution of the Company.

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2.3“Committee” shall mean the Compensation Committee described in Section 7.1 hereof.

2.4“Common Stock” or “stock” means common shares, par value $.01 per share, of the Company, including authorized and unissued shares and treasury shares.

2.5“Company” means PolyOne Corporation, an Ohio corporation.

2.6“Director” shall mean any non-employee director of the Company.

ARTICLE III

ELECTIONS BY DIRECTORS

3.1Election to Defer. At any time designated by the Company before the beginning of a taxable year (the “Election Period”), a Director may elect to defer receipt of the compensation payable to him or her for services as a Director during the taxable year. Such election shall be made on an election form specified by the Company (the “Election Form”). A Director’s initial Election Form will, subject to the following sentence, include an election as to the time of payment or the commencement of payment and the manner of payment of all amounts in his or her Account. In addition, if a Director has elected to receive or commence payment in a specified year, the Election Form for the Election Period immediately prior to such specified year shall contain the Director’s election regarding the time and manner of payment of amounts in his or her Account for that and all future Election Periods. Notwithstanding the foregoing, with respect to the first taxable year in which a person becomes a Director, such Director may, within 30 days of becoming a Director, make an election to defer compensation payable to him or her in such taxable year for services as a Director subsequent to the election. Each Director’s Election Form shall indicate the portion of the Director’s compensation to be invested in an interest-bearing account and the portion of such compensation to be invested in Common Stock.

3.2Effectiveness of Elections. Elections shall be effective and, except as set forth in Section 3.3, irrevocable upon the delivery of an Election Form to the Committee. Subject to the provisions of Article VI, amounts deferred pursuant to such elections shall be distributed at the time and in the manner set forth in such election.

3.3Amendment and Termination of Elections. A Director may terminate or amend his or her election to defer receipt of compensation by written notice delivered to the Committee during the Election Period prior to the commencement of the taxable year with respect to which such compensation will be earned. Amendments which serve only to change the beneficiary designation shall be permitted at any time and as often as necessary.

ARTICLE IV

ACCOUNTS

4.1Accounts. The Company shall establish and maintain a Deferred Compensation Account (an “Account”) for each Director who elects to defer compensation under the Plan. If

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the Director elects to have deferred cash compensation invested in an interest-bearing account, the Company shall credit the Account of the Director with an amount equal to one hundred percent (100%) of the compensation deferred pursuant to this Plan. In the event that a Director elects to have some or all of his or her cash compensation invested in Common Stock, then the Company shall credit the Account of the Director with an amount equal to one hundred percent (100%) of such compensation, in the form of a number of shares of Common Stock, valued at its Fair Market Value. As used herein, the Fair Market Value of Common Stock shall be the average of the high and low prices of the Company’s Common Stock as reported on the composite tape for securities listed on the New York Stock Exchange for the date immediately preceding the date of crediting the Account, provided that if no sales of Common Stock were made on said Exchange on that date, the Fair Market Value shall be the average of the high and low prices of Common Stock as reported on said composite tape for the preceding day on which sales of Common Stock were made on said Exchange. The Accounts shall be credited as of the date on which the compensation would otherwise have been paid to the Director, if not deferred under the Plan. In the event that a Director elects to defer compensation that, but for the Director’s election to defer, the Director would have received in the form of Common Stock (rather than cash or some other non-stock form of compensation), then the Company shall credit the Account of the Director with an amount equal to one hundred percent (100%) of such compensation, in the form of the number of shares of Common Stock otherwise payable to the Director under the plan or arrangement of the Company providing for the payment of such compensation, valued as provided in the plan or arrangement of the Company providing for the payment of such compensation or, if no such provision is made, at its Fair Market Value.

4.2Common Stock. The aggregate number of shares of Common Stock that may be credited to Accounts pursuant to this Article IV shall be limited to the aggregate number of shares of Common Stock that may be issued or transferred as awards to Directors pursuant to the PolyOne Corporation 2010 Equity and Performance Incentive Plan, as amended, or any subsequent long-term incentive plan.

4.3Adjustment of Common Stock. In the event of any change in the Common Stock of the Company by reason of a merger, consolidation, reorganization, or similar transaction, or in the event of a stock dividend, stock split, or distribution to shareholders (other than normal cash dividends), the Committee will adjust the number and class of shares subject to outstanding deferrals, and the fair market value of the Common Stock, and other determinations applicable to outstanding awards.

4.4Adjustment of Accounts. As of December 31 of each Calendar Year and on such other dates as the Committee directs, the fair market value of the Account of each Director shall be determined by crediting to the Account an amount equal to the income earned during the Calendar Year, or other appropriate period, and the number of shares of Common Stock credited to the Account, and then determining the fair market value of the shares and other amounts credited to the Account, including dividends on Common Stock credited to the Account.

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ARTICLE V

PAYMENT OF ACCOUNTS

5.1Time of Payment. Payment of the amount credited to a Director’s Account shall commence upon a date which is not more than thirty days after the earliest of (i) as elected by the Director in his Election Form, upon a specified date or the date of the Director’s separation from service with the Company, as determined in accordance with Section 409A of the Code (the “Separation from Service Date”); provided, however, that the Director shall not have the right to designate the taxable year of payment and furtherprovided that if the payment is to commence upon the Director’s Separation from Service Date and the Director is a “specified employee,” as determined by the Company in its Specified Employee Designation Procedure (a “Specified Employee”), at the Separation from Service Date, the payment shall commence on the first day of the seventh month following the Director’s Separation from Service Date, (ii) the death of the Director or (iii) upon a Change in Control. To the extent a Director would be entitled to payment upon the occurrence of a Change in Control pursuant to the preceding sentence and such Change in Control does not constitute a permitted distribution event under Section 409A(a)(2) of the Code, then payment will be made, to the extent necessary to comply with the provisions of Section 409A of the Code, to the Director on the earliest of (A) the Director’s Separation from Service Date, provided, further, that if the Director is a Specified Employee at the time of the Separation from Service Date, the payment to the Director shall be made on the first day of the seventh month following such Separation from Service Date or (B) the Director’s death. If a Director fails to make a valid election as to the time of payment or the time of commencement of payment on his Election Form completed after May 20, 2014, for purposes of clause (i) of this Section 5.1, the Director will be deemed to have elected to commence payment on the Director’s Separation from Service Date.

5.2Method of Payment. The amount credited to a Director’s Account shall be paid, in whole or in part, to the Director in a lump sum and/or in annual installments over a period of not more than ten years as specified in each Director’s Election Form. Payments to be paid in annual installments shall be paid in a series of substantially equal annual installments commencing on the initial date of payment set forth in Section 5.1 and on each anniversary of such date thereafter. Each installment payment shall be treated as a separate payment and not as part of a series of payments for purposes of Section 409A of the Code. Accounts shall be paid in kind, in cash, or shares of Common Stock, as credited to the Account. If a Director fails to make a valid election as to the manner of payment on his Election Form completed after May 20, 2014, the Director will be deemed to have elected payment in a lump sum.

5.3Subsequent Payment Elections. A Director may elect to change his or her election with respect to time of commencement or method of payment, or both, with respect to an amount credited to the Director’s Account, provided that the following requirements are met: (i) the election to change does not take effect until at least 12 months after the date on which the election is made, (ii) with respect to an election related to a payment that is to be made at a specified time or pursuant to a fixed schedule, the election to change is made at least 12 months prior to the date on which that payment is scheduled to be made and (iii) in the case of an

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election related to a distribution not described in Section 5.4 or 5.5, the payment under such election will be made no less than 5 years from the original date on which such payment would be made. If an election to change an original payment election is not timely made, or for any reason is not effective, amounts credited to the Director’s Account will automatically be paid to the Director in the form(s) elected on the Director’s Election Form(s).

5.4Unforeseeable Emergency Distribution. The Committee may at any time, upon written request of a Director, cause to be paid to such Director, an amount equal to all or any part of the Director’s Account if the Committee determines, based on such reasonable evidence that it shall require, that such a payment is necessary for the purpose of alleviating the consequences of an Unforeseeable Emergency. Payments of amounts because of an Unforeseeable Emergency may not exceed the amount necessary to satisfy the Unforeseeable Emergency plus amounts necessary to pay taxes or penalties reasonably anticipated as a result of the distribution after taking into account the extent to which the Unforeseeable Emergency is or may be relieved through reimbursement or compensation from insurance or otherwise, by liquidation of the Director’s assets (to the extent the liquidation of such assets would not itself cause severe financial hardship), or by cessation of deferrals under the Plan. For purposes of this Plan, Unforeseeable Emergency shall mean an event which results in a severe financial hardship to the Director resulting from (a) an illness or accident of the Director, the Director’s spouse, the Director’s beneficiary or a dependent of the Director, (b) loss of the Director’s property due to casualty or (c) other similar extraordinary and unforeseeable circumstances as a result of events beyond the control of the Director. The amount of a Director’s Account shall be reduced by the amount of any Unforeseeable Emergency distribution to the Director.

5.5Designation of Beneficiary/Payment upon Death. Notwithstanding the time and manner of payment elected by a Director on his or her Election Form, upon the death of a Director, the amount credited to his or her Account (including any amount remaining in such Director’s Account after commencement of installment payments to the Director) shall be paid in a single lump sum to the beneficiary or beneficiaries designated by him or her within thirty days after the date of the death of the Director, provided that no beneficiary will have the right to designate the taxable year of payment. If there is no designated beneficiary, or no designated beneficiary surviving at a Director’s death, payment of a Director’s Account shall be made to his or her estate. Beneficiary designations shall be made in writing. A Director may designate a new beneficiary or beneficiaries at any time by notifying the Company.

5.6Taxes. In the event any taxes are required by law to be withheld or paid from any payments made pursuant to the Plan, the appropriate amounts shall be deducted from such payments and transmitted to the appropriate taxing authority.

ARTICLE VI

CREDITORS

6.1Claims of the Company’s Creditors. The rights of a Director or his or her beneficiaries to any payment under the Plan shall be no greater than the rights of an unsecured creditor of the Company.

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ARTICLE VII

ADMINISTRATION

7.1Appointment of Committee. The Committee shall administer the Plan. Members of the Committee shall hold office at the pleasure of the Board of Directors and may be dismissed at any time with or without cause.

7.2Powers of the Committee. The Committee shall administer the Plan and resolve all questions of interpretation arising under the Plan with the help of legal counsel, if necessary.

Whenever directions, designations, applications, requests or other notices are to be given by a Director under the Plan, they shall be filed with the Committee. The Committee shall have no discretion with respect to Plan contributions or distributions but shall act in an administrative capacity only. Except as provided in the immediately following sentence, all decisions by the Committee will be made with the approval of not less than a majority of its members. Any interpretation by a majority of the Incumbent Directors then serving on the Committee as to whether a sale or other disposition of assets by the Company or an acquisition of assets of another corporation constitutes a “sale or other disposition of all or substantially all of the assets of the Company or the acquisition of assets of another corporation” for purposes of clause (iii) of the definition of “Change of Control” in Section 2.2 hereof shall be final and binding for all purposes of this Plan and any Accounts hereunder, notwithstanding that the transaction in question was, or is contemplated to be, submitted to stockholders of the Company for their approval and notwithstanding such approval.

It is intended that the Plan comply with the provisions of Section 409A of the Code, so as to prevent the inclusion in gross income of any amounts deferred hereunder in a taxable year that is prior to the taxable year or years in which such amounts would otherwise actually be distributed or made available to Directors or beneficiaries. This Plan shall be administered in a manner that effects such intent. Any reference in this Plan to Section 409A of the Code will also include any proposed, temporary or final regulations, or any other guidance, promulgated with respect to such Section 409A by the U.S. Department of Treasury or the Internal Revenue Service.

ARTICLE VIII

MISCELLANEOUS

8.1Amendment and Termination. The Company reserves the right to amend or terminate the Plan at any time; provided, however, that no amendment or termination shall affect the rights of Directors to amounts previously credited to their Accounts pursuant to Section 4.1 or to future income to be credited to their Accounts pursuant to Section 4.4, except to the extent that such amendment or termination is deemed necessary by the Company to ensure compliance with Section 409A of the Code. Once the Plan has terminated, no further shares of Common Stock shall be credited to Accounts; provided, however, that, except as provided in the previous sentence, any Accounts then existing shall continue in accordance with the provisions of the Plan until the Accounts are paid out in accordance with the provisions of Article V.

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8.2Assignment. No right or interest of any Director (or any person claiming through or under such Director) in any benefit or payment herefrom other than the surviving spouse of such Director after he or she is deceased, shall be assignable or transferable in any manner or be subject to alienation, anticipation, sale, pledge, encumbrance, or other legal process or in any manner be liable for or subject to the debts or liabilities of such Director. Any attempt to transfer, assign, alienate, anticipate, sell, pledge, or otherwise encumber benefits hereunder or any part thereof shall be void.

8.3Effective Date of Plan. The Plan’s original effective date was December 9, 1993, and it is hereby amended and restated effective as of May 20, 2014.

IN WITNESS WHEREOF, the Company, by its duly authorized officer, has caused this Plan to be executed as of the _15th___ day of ___May____, 2014.

POLYONE CORPORATION

By:     /s/ Ana G. Rodriguez__________

Ana G. Rodriguez

Senior Vice President and

Chief Human Resources Officer

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EX-10.10

Exhibit 10.10
SCHEDULE OF EXECUTIVES WITH MANAGEMENT CONTINUITY AGREEMENTS
Title	Name	Years /Comp*	Excise Tax Gross Up?
Executive Chairman	Stephen D. Newlin	3	Y
President and Chief Executive Officer	Robert M. Patterson	3	Y
Executive Vice President, Chief Financial Officer	Bradley C. Richardson	2	N
Senior Vice President, President of Distribution	Mark D. Crist	2	N
Senior Vice President, President of Performance Products and Solutions	Michael A. Garratt	2	N
Senior Vice President, Chief Commercial Officer	Michael E. Kahler	3	Y
Senior Vice President, President of Designed Structures and Solutions	Julie McAlindon	2	N
Senior Vice President, Global Operations and Process Improvement	M. John Midea, Jr.	2	N
Senior Vice President, President of Global Specialty Engineered Materials	Craig M. Nikrant	2	N
Senior Vice President, Chief Human Resources Officer	Ana Rodriguez	2	N
Senior Vice President, President of Global Color, Additives and Inks	John V. Van Hulle	2	N

* Years of compensation payable upon change of control

EX-21.1

Exhibit 21.1
SUBSIDIARIES OF THE COMPANY
Name	Formation Jurisdiction
Altona Properties Pty Ltd. (37.4% owned)	Australia
Auseon Limited	Australia
Braspenco Industria de Compostos Plasticos Ltda.	Brazil
Canada Film Venture, Inc.	Ontario
Chromatics, Inc.	Connecticut
Colorant Chromatics AB	Finland
Colorant Chromatics AG	Switzerland
Colorant Chromatics Europe B.V.	Netherlands
Colorant Chromatics Trading Shanghai, Ltd.	China
Colorant GmbH	Germany
ColorMatrix Argentina S.A.	Argentina
ColorMatrix Asia Limited	Hong Kong
ColorMatrix-Brazil, LLC	Ohio
ColorMatrix Corporation, The	Ohio
ColorMatrix do Brasil Indústria e Comércio de Pigmentos e Aditivos Ltda.	Brazil
ColorMatrix Europe BV	Netherlands
ColorMatrix Europe Limited	United Kingdom
ColorMatrix Group, Inc.	Delaware
ColorMatrix Holdings, Inc.	Delaware
ColorMatrix Mexico, S.A. de C.V.	Mexico
ColorMatrix Plastic Colorant (Suzhou) Co. Ltd.	China
ColorMatrix Russia LLC	Russia
ColorMatrix South Africa (Pty) Ltd.	South Africa
ColorMatrix South America, Ltd.	British Virgin Islands
ColorMatrix UK Holdings Limited	United Kingdom
Conexus, LLS (f/k/a Conexius, Inc)	Nevada
Gayson Silicone Dispersions, Inc.	Ohio
Geon Development, Inc.	Ohio
Glasforms, Inc.	California
GLS Hong Kong Limited	China
GLS International, Inc.	Illinois
GLS Thermoplastic Alloys (Suzhou) Co., Ltd.	China
GLS Trading (Suzhou) Co., Ltd.	China
Hanna France SARL	France
Juffali-PolyOne Master Batches Company (51%)	Saudi Arabia
LP Holdings Inc.	Canada
M.A. Hanna Asia Holding Company	Delaware
M.A. Hanna Export Services Corp.	Barbados
NEU Specialty Engineered Materials, LLC	Ohio
P.I. Europe C.V.	Netherlands
Polymer Diagnostics, Inc.	Ohio
PolyOne Belgium S.A.	Belgium
PolyOne Canada Inc.	Canada
PolyOne Color and Additives Germany, GmbH	Germany
PolyOne Controladora, S.A. de C.V.	Mexico
PolyOne Corporation UK Limited - Trading Company	United Kingdom

Name	Formation Jurisdiction
PolyOne Costa Rica S.A.	Costa Rica
PolyOne CR s.r.o.	Czech Republic
PolyOne de Mexico S.A. de C.V.	Mexico
PolyOne Designed Structures and Solutions LLC	Delaware
PolyOne Deutschland, GmbH	Germany
PolyOne Distribution de Mexico, S. de R.L. de C.V. (f/k/a Spartech de Mexico Distribution Company, S. de R.L. de C.V.)	Mexico
PolyOne Distribution Trading (Shanghai) Co., Ltd.	China
PolyOne DSS Canada Inc.	New Brunswick
PolyOne España, S.L.	Spain
PolyOne Europe Logistics, S.A.	Belgium
PolyOne France S.A.S.	France
PolyOne Funding Canada Corporation	Canada
PolyOne Funding Corporation	Delaware
PolyOne Hong Kong Holding Limited	Hong Kong
PolyOne Hungary, Ltd.	Hungary
PolyOne International Finance Company	Ireland
PolyOne International Trading (Shanghai) Co., Ltd.	China
PolyOne Italy, Srl	Italy
PolyOne Japan K.K.	Japan
PolyOne Korea, Ltd.	Korea
PolyOne LLC	Delaware
PolyOne Luxembourg S.a.R.L.	Luxembourg
PolyOne Management International Holding, S.L. (ETVE)	Spain
PolyOne Management (Shanghai) Co. Ltd.	China
PolyOne Manufacturing de Mexico, S. de R.L. de C.V. (f/k/a Spartech de Mexico, S. de R.L. de C.V.)	Mexico
PolyOne Manufacturing S.A.R.L. (f/k/a Spartech International Manufacturing S.A.R.L.)	Luxembourg
PolyOne Poland Manufacturing, Sp.z.o.o.	Poland
PolyOne Polimeks Plastik Tic. ve. San. A.S.	Turkey
PolyOne Polymers India Pvt. Ltd	India
PolyOne Shanghai, China	China
PolyOne Shenzhen Co. Ltd.	China
PolyOne Singapore Pte Ltd.	Singapore
PolyOne Suzhou, China	China
PolyOne Sweden, A.B.	Sweden
PolyOne Tekno Polimer Mühendislik Plastikleri San. ve Tic. A.S.	Turkey
PolyOne Tekno Ticaret Mühendislik Plastikleri San. ve Tic. A.S.	Turkey
PolyOne Termoplásticos do Brasil Ltda.	Brazil
PolyOne Th. Bergmann, GmbH	Germany
PolyOne Tianjin, China	China
PolyOne Vinyl Compounds Asia Holdings Limited	British Virgin Islands
PolyOne (Dongguan) Vinyl Compounds Company Ltd.	China
Prestadora de Servicios Industriales de Personal, S.A. de R.L. de C.V.	Mexico
Seola Aps	Denmark
Shanghai Colorant Chromatics Co., Ltd.	China
Spartech Color and Specialty Compounds UK Limited	United Kingdom
Spartech de Mexico Holding Company, S. de R.L. de C.V.	Mexico
Spartech France Holdings, L.P.	Delaware

Name	Formation Jurisdiction
Spartech International Distribution C.V.	Netherlands
Spartech Luxembourg Holding Co. S.A.R.L.	Luxembourg
Spartech Mexico Holding Company	Missouri
Spartech Mexico Holding Company Two	Missouri
Spartech Mexico Holdings, LLC	Missouri
Spartech, S.A.S	France
Star Color Co., Ltd.	Thailand
Uniplen Indústria de Polímeros Ltda.	Brazil

EX-23.1

Exhibit 23.1

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We consent to the incorporation by reference in the following Registration Statements:

(1)	Registration Statement (Form S-8 No. 333-187201) pertaining to the Spartech Corporation 2004 Equity Compensation Plan, as amended, and the Spartech Corporation 2001 Stock Option Plan;
(2)	Registration Statement (Form S-8 No. 333-181787) pertaining to the PolyOne Corporation 2010 Equity and Performance Incentive Plan;
(3)	Registration Statement (Form S-8 No. 333-166775) pertaining to the PolyOne Corporation 2010 Equity and Performance Incentive Plan;
(4)	Registration Statement (Form S-8 No. 333-157486) pertaining to the PolyOne Retirement Savings Plan;
(5)	Registration Statement (Form S-8 No. 333-151057) pertaining to the PolyOne Corporation 2008 Equity and Performance Incentive Plan;
(6)	Registration Statement (Form S-8 No. 333-47796) pertaining to Post Effective Amendment No. 3 on Form S-8 to Form S-4 pertaining to the Geon Company 1993 Incentive Stock Plan, the Geon Company 1995 Incentive Stock Plan, the Geon Company 1998 Interim Stock Award Plan, the Geon Company 1999 Incentive Stock Plan, the PolyOne Corporation Deferred Compensation Plan for Non-Employee Directors and the M.A. Hanna Company Long-Term Incentive Plan;
(7)	Registration Statement (Form S-8 No. 333-141029) pertaining to the PolyOne Retirement Savings Plan and the DH Compounding Company Savings and Retirement Plan and Trust;
(8)	Registration Statement (Form S-8 No. 333-141028) pertaining to the M.A. Hanna Company Long-Term Incentive Plan; and
(9)	Registration Statement (Form S-8 No. 333-128283) pertaining to the 2005 Equity and Performance Incentive Plan

of our reports dated February 13, 2015, with respect to the consolidated financial statements of PolyOne Corporation and the effectiveness of internal control over financial reporting of PolyOne Corporation, included in this Annual Report (Form 10-K) of PolyOne Corporation for the year ended December 31, 2014.

/s/ Ernst & Young LLP

Cleveland, Ohio

February 13, 2015

EX-31.1

Exhibit 31.1

CERTIFICATION

I, Robert M. Patterson, certify that:

1. I have reviewed this Annual Report on Form 10-K of PolyOne Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

/s/    Robert M. Patterson

Robert M. Patterson

President and Chief Executive Officer

February 13, 2015

POLYONE CORPORATION

EX-31.2

Exhibit 31.2

CERTIFICATION

I, Bradley C. Richardson, certify that:

1. I have reviewed this Annual Report on Form 10-K of PolyOne Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

/s/    Bradley C. Richardson

Bradley C. Richardson

Executive Vice President and Chief Financial Officer

February 13, 2015

POLYONE CORPORATION

EX-32.1

Exhibit 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Annual Report on Form 10-K of PolyOne Corporation (the “Company”) for the year ended December 31, 2014, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Robert M. Patterson, President and Chief Executive Officer of the Company, do hereby certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that, to my knowledge:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company as of the dates and for the periods expressed in the Report.

/s/    Robert M. Patterson

Robert M. Patterson

President and Chief Executive Officer

February 13, 2015

The foregoing certification is being furnished solely pursuant to 18 U.S.C. § 1350 and is not being filed as part of the Report or as a separate disclosure document.

POLYONE CORPORATION

EX-32.2

Exhibit 32.2

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Annual Report on Form 10-K of PolyOne Corporation (the “Company”) for the year ended December 31, 2014, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Bradley C. Richardson, Executive Vice President and Chief Financial Officer of the Company, do hereby certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that, to my knowledge:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company as of the dates and for the periods expressed in the Report.

/s/    Bradley C. Richardson

Bradley C. Richardson Executive Vice President and Chief Financial Officer

February 13, 2015

The foregoing certification is being furnished solely pursuant to 18 U.S.C. § 1350 and is not being filed as part of the Report or as a separate disclosure document.

POLYONE CORPORATION

XML

Property (Tables)

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

Components Of Property, Net

Components of Property, net are as follows:

(In millions)	December 31, 2014			December 31, 2013
Land and land improvements	$	49.2		$	52.5
Buildings	309.2			315.4
Machinery and equipment	1,077.2			1,079.2
	1,435.6			1,447.1
Less accumulated depreciation and amortization	(838.9		)	(800.9		)
Property, net	$	596.7		$	646.2

XML

Business Combinations (Allocation Of Purchase Price) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Mar. 13, 2014
Business Acquisition [Line Items]
Goodwill	$ 590.6	$ 559.0	$ 405.5
Spartech Corporation
Business Acquisition [Line Items]
Accounts receivable				139.7
Inventories				114.4
Other current assets				18.6
Property				280.3
Other non-current assets				19.6
Intangible assets				44.6
Goodwill				162.6
Total assets acquired				779.8
Short-term and current portion of long-term debt				0.5
Accounts payable				105.0
Accrued expenses and other liabilities				43.1
Long-term debt				11.0
Other non-current liabilities				109.1
Total liabilities assumed				268.7
Net assets acquired				$ 511.1

XML

Fair Value Fair Value (Tables)

12 Months Ended

Dec. 31, 2014

Fair Value Disclosures [Abstract]

Fair Value, by Balance Sheet Grouping

Financial instruments accounted for at fair value on a recurring basis as of December 31, 2014 and 2013 are as follows: 

	December 31, 2014
(In millions)	Total		Quoted prices in active markets for identical assets (Level 1)		Other observable inputs (Level 2)		Unobservable inputs (Level 3)
Cash and cash equivalents	$	238.6	$	238.6	$	—	$	—

	December 31, 2013
(In millions)	Total		Quoted prices in active markets for identical assets (Level 1)		Other observable inputs (Level 2)		Unobservable inputs (Level 3)
Cash and cash equivalents	$	365.2	$	365.2	$	—	$	—

XML

Other Balance Sheet Liabilities (Components Of Other Liabilities) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Other Liabilities Disclosure [Abstract]
Employment costs	$ 112.2	$ 128.7
Environmental liabilities	11.5	12.0
Accrued taxes	10.3	34.7
Pension and other post-employment benefits	5.7	5.7
Accrued interest	16.1	16.2
Dividends payable	8.8	7.6
Unrecognized tax benefits	2.1	0.1
Other	6.8	4.3
Accrued expenses and other liabilities, Total	173.5	209.3
Employment costs	23.4	19.1
Environmental liabilities	109.6	113.9
Accrue taxes	0	0
Pension and other post-employment benefits	0	0
Accrued interest	0	0
Unrecognized tax benefits	26.0	18.1
Other	19.3	18.3
Other non-current liabilities, Total	$ 178.3	$ 169.4

XML

Business Combinations - Pro Forma (Details) (Spartech Corporation, USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Spartech Corporation
Business Acquisition [Line Items]
Sales	$ 3,989.2	$ 4,006.9
Net income from continuing operations	$ 94.7	$ 56.5

XML

Employee Benefit Plans (Weighted Average Assumptions Used To Determine Net Periodic Benefit Cost) (Details)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Pension Benefits
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
Discount rate	4.83%	4.12%	5.11%
Expected long-term return on plan assets	6.86%	8.41%	8.43%
Health Care Benefits
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
Discount rate	4.38%	3.71%	4.66%
Expected long-term return on plan assets	0.00%	0.00%	0.00%
Net Periodic Benefit Cost [Member] | Health Care Benefits
Assumed health care cost trend rates at December 31:
Health care cost trend rate assumed for next year	7.02%	7.39%	8.35%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	4.50%	4.63%	5.00%
Year that the rate reaches the ultimate trend rate	2027	2025	2019

XML

Selected Quarterly Financial Data (Schedule Of Quarterly Financial Data) (Details) (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended																	12 Months Ended
	Dec. 31, 2014		Sep. 30, 2014		Jun. 30, 2014		Mar. 31, 2014		Dec. 31, 2013		Sep. 30, 2013		Jun. 30, 2013		Mar. 31, 2013		Dec. 31, 2012	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Selected Quarterly Financial Data [Line Items]
Sales	$ 869.3	[1]	$ 958.4	[2]	$ 1,005.5	[3]	$ 1,002.3	[4]	$ 923.6	[5]	$ 1,008.9	[6]	$ 1,037.6	[7]	$ 801.1	[8]		$ 3,835.5	$ 3,771.2	$ 2,860.8
Gross Margin	152.6	[1]	182.6	[2]	184.5	[3]	188.2	[4]	114.9	[5]	181.3	[6]	203.7	[7]	162.3	[8]		707.9	662.2	531.1
Operating (loss)/income	(14.3)	[1]	63.6	[2]	49.4	[3]	56.4	[4]	48.7	[5]	61.6	[6]	80.7	[7]	40.5	[8]		155.1	231.5	137.5
Net (loss)/income from continuing operations	(15.0)	[1]	32.3	[2]	30.7	[3]	29.2	[4]	20.6	[5]	23.0	[6]	38.3	[7]	11.0	[8]
Net (loss)/income from continuing operations attributable to PolyOne shareholders	(14.6)	[1]	32.3	[2]	30.9	[3]	29.4	[4]	21.0	[5]	23.2	[6]	38.6	[7]	11.2	[8]
Basic net income - continuing operations	$ (0.16)	[1]	$ 0.35	[2]	$ 0.33	[3]	$ 0.31	[4]	$ 0.22	[5]	$ 0.24	[6]	$ 0.39	[7]	$ 0.12	[8]		$ 0.85	$ 0.98	$ 0.60
Diluted net income - continuing operations	$ (0.16)	[1]	$ 0.35	[2]	$ 0.33	[3]	$ 0.31	[4]	$ 0.22	[5]	$ 0.24	[6]	$ 0.39	[7]	$ 0.12	[8]		$ 0.83	$ 0.97	$ 0.59
Mark-to-market actuarial net losses (gains)	56.5								(44.0)								42.0
Environmental remediation expense	2.6		5.9						52.6		5.3		1.3		2.0
Reimbursement of previously incurred environmental cost	2.1		1.6						3.4				14.9		5.2
Acquisition related costs											1.2		4.9		8.7
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax																		0	223.7	0
Restructuring charges																		94.1	52.0
Tax benefit associated with our investments in certain foreign affiliates					5.4													(13.4)	0	0
Mark-to-market actuarial net losses (gains)											7.0
Payments of Debt Extinguishment Costs											5.2				10.6
SunBelt
Selected Quarterly Financial Data [Line Items]
Pre-tax gain associated with estimated earnout of SunBelt									26.8
Plant Closure and Reductions in Force
Selected Quarterly Financial Data [Line Items]
Restructuring charges	23.2		17.9		35.1		17.9		28.3		10.9		2.9		9.9
325211 Plastics Material and Resin Manufacturing [Member]
Selected Quarterly Financial Data [Line Items]
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax													$ 223.7

[1] Included for the fourth quarter 2014 are: 1) mark-to-market pension and other post-retirement charge of $56.5 million, 2) employee separation and restructuring costs of $23.2 million, 3) environmental remediation costs of $2.6 million and 5) a gain related to the reimbursement of previously incurred environmental costs of $2.1 million.

[2] Included for the third quarter 2014 are: 1) $17.9 million in employee separation and restructuring costs, 2) $5.9 million in environmental remediation costs and 3) a gain related to the reimbursement of previously incurred environmental costs of $1.6 million.

[3] Included for the second quarter 2014 are: 1) $35.1 million in employee separation and restructuring costs and 2) $5.4 million tax benefit associated with our investments in certain foreign affiliates.

[4] Included for the first quarter 2014 are: 1) $17.9 million in employee separation and restructuring costs.

[5] Included for the fourth quarter 2013 are: 1) gains from the SunBelt earn-out of $26.8 million, 2) mark-to-market pension and other post-retirement benefit gains of $44.0 million, 3) environmental remediation costs of $52.6 million, 4) a gain related to the reimbursement of previously incurred environmental costs of $3.4 million and 5) employee separation and restructuring costs of $28.3 million.

[6] Included for the third quarter 2013 are: 1) $5.3 million in environmental remediation costs, 2) $10.9 million in employee separation and restructuring costs, 3) $7.0 million gain on commercial litigation, 4) $5.2 million in debt extinguishment costs associated with our outstanding debt repurchases and 5) $1.2 million of acquisition and divestiture-related costs.

[7] Included for the second quarter 2013 are: 1) pre-tax gain of $223.7 million related to the sale of the Resin Business, 2) $2.9 million in employee separation and restructuring costs, 3) acquisition and divestiture-related costs of $4.9 million, 4) environmental remediation costs of $1.3 million and 5) a gain related to the reimbursement of previously incurred environmental costs of $14.9 million.

[8] Included for the first quarter 2013 are: 1) $9.9 million in employee separation and restructuring costs 2) acquisition and divestiture-related costs of $8.7 million, 3) environmental remediation costs of $2.0 million, 4) a gain related to the reimbursement of previously incurred environmental costs of $5.2 million and 5) $10.6 million in debt extinguishment costs related to the early retirement of our senior secured term loan.

XML

Common Share Data (Tables)

12 Months Ended

Dec. 31, 2014

Earnings Per Share [Abstract]

Schedule of Weighted Average Number of Shares

Weighted-average shares used in computing net income per share are as follows:

(In millions)	2014	2013	2012
Weighted-average shares — basic:	92.3	95.5	89.1
Plus dilutive impact of share-based compensation	1.2	1.0	0.7
Weighted-average shares — diluted:	93.5	96.5	89.8

XML

Employee Separation and Restructuring Costs Schedule of restructuring and related costs (Tables)

12 Months Ended

Dec. 31, 2014

Spartech [Member]

Restructuring Cost and Reserve [Line Items]

Restructuring and Related Costs

The table below summarizes restructuring activity related to Spartech since the date of acquisition.

(In millions)	Long-Lived Asset Charges			Employee Separation			Other Ongoing Costs			Total
Accrual balance at December 31, 2012	$	—		$	—		$	—		$	—
Charged to expense	13.6			21.1			9.4			44.1
Cash payments	—			(6.0		)	(9.4		)	(15.4		)
Non-cash utilization	(13.6		)	—			—			(13.6		)
Accrual balance at December 31, 2013	$	—		$	15.1		$	—		$	15.1
Charged to expense	27.3			5.1			27.3			59.7
Cash payments	—			(17.5		)	(27.3		)	(44.8		)
Non-cash utilization	(27.3		)	—			—			(27.3		)
Accrual balance at December 31, 2014	$	—		$	2.7		$	—		$	2.7

Brazil [Member]

Restructuring Cost and Reserve [Line Items]

Restructuring and Related Costs

(In millions)	Asset Charges			Employee Separation			Other Ongoing Costs			Total
Accrual balance at December 31, 2013	$	—		$	—		$	—		$	—
Charged to expense	10.7			2.9			3.4			17.0
Cash payments	—			(1.8		)	(3.4		)	(5.2		)
Non-cash utilization	(10.7		)	—			—			(10.7		)
Accrual balance at December 31, 2014	$	—		$	1.1		$	—		$	1.1

XML

Employee Benefit Plans (Fair Values Of Pension Plan Assets) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	$ 484.0	$ 472.2
Cash
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	6.7	6.6
Large-cap equity
Defined Benefit Plan Disclosure [Line Items]
Total plan assets		28.4
Small-cap equity
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	19.2	22.0
International equity
Defined Benefit Plan Disclosure [Line Items]
Total plan assets		14.4
Fixed income
Defined Benefit Plan Disclosure [Line Items]
Total plan assets		107.7
Non-U.S. equity
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	44.3	45.2
Floating rate income
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	35.7	35.3
Short-term investments
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	18.8	14.8
United States equity
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	62.6	30.0
Fixed income
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	77.0
US Treasury Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	74.6	42.8
Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	129.9	125.0
Other
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	15.2
Quoted Prices in Active Markets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	305.2	427.4
Quoted Prices in Active Markets (Level 1) | Cash
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	6.7	6.6
Quoted Prices in Active Markets (Level 1) | Large-cap equity
Defined Benefit Plan Disclosure [Line Items]
Total plan assets		28.4
Quoted Prices in Active Markets (Level 1) | Small-cap equity
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	19.2	22.0
Quoted Prices in Active Markets (Level 1) | International equity
Defined Benefit Plan Disclosure [Line Items]
Total plan assets		14.4
Quoted Prices in Active Markets (Level 1) | Fixed income
Defined Benefit Plan Disclosure [Line Items]
Total plan assets		107.7
Quoted Prices in Active Markets (Level 1) | Non-U.S. equity
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	44.3	45.2
Quoted Prices in Active Markets (Level 1) | Floating rate income
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	35.7	35.3
Quoted Prices in Active Markets (Level 1) | Short-term investments
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	0	0
Quoted Prices in Active Markets (Level 1) | United States equity
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	0	0
Quoted Prices in Active Markets (Level 1) | Fixed income
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	0
Quoted Prices in Active Markets (Level 1) | US Treasury Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	74.6	42.8
Quoted Prices in Active Markets (Level 1) | Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	124.7	125.0
Quoted Prices in Active Markets (Level 1) | Other
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	0
Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	163.6	44.8
Significant Other Observable Inputs (Level 2) | Cash
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	0	0
Significant Other Observable Inputs (Level 2) | Large-cap equity
Defined Benefit Plan Disclosure [Line Items]
Total plan assets		0
Significant Other Observable Inputs (Level 2) | Small-cap equity
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	0	0
Significant Other Observable Inputs (Level 2) | International equity
Defined Benefit Plan Disclosure [Line Items]
Total plan assets		0
Significant Other Observable Inputs (Level 2) | Fixed income
Defined Benefit Plan Disclosure [Line Items]
Total plan assets		0
Significant Other Observable Inputs (Level 2) | Non-U.S. equity
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	0	0
Significant Other Observable Inputs (Level 2) | Floating rate income
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	0	0
Significant Other Observable Inputs (Level 2) | Short-term investments
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	18.8	14.8
Significant Other Observable Inputs (Level 2) | United States equity
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	62.6	30.0
Significant Other Observable Inputs (Level 2) | Fixed income
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	77.0
Significant Other Observable Inputs (Level 2) | US Treasury Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	0	0
Significant Other Observable Inputs (Level 2) | Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	5.2	0
Significant Other Observable Inputs (Level 2) | Other
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	0
Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	15.2	0
Significant Unobservable Inputs (Level 3) | Cash
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	0	0
Significant Unobservable Inputs (Level 3) | Large-cap equity
Defined Benefit Plan Disclosure [Line Items]
Total plan assets		0
Significant Unobservable Inputs (Level 3) | Small-cap equity
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	0	0
Significant Unobservable Inputs (Level 3) | International equity
Defined Benefit Plan Disclosure [Line Items]
Total plan assets		0
Significant Unobservable Inputs (Level 3) | Fixed income
Defined Benefit Plan Disclosure [Line Items]
Total plan assets		0
Significant Unobservable Inputs (Level 3) | Non-U.S. equity
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	0	0
Significant Unobservable Inputs (Level 3) | Floating rate income
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	0	0
Significant Unobservable Inputs (Level 3) | Short-term investments
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	0	0
Significant Unobservable Inputs (Level 3) | United States equity
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	0	0
Significant Unobservable Inputs (Level 3) | Fixed income
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	0
Significant Unobservable Inputs (Level 3) | US Treasury Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	0	0
Significant Unobservable Inputs (Level 3) | Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	0	0
Significant Unobservable Inputs (Level 3) | Other
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	$ 15.2

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Employee Benefit Plans (Amounts Included In Consolidated Balance Sheets) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Non-current assets	$ 0	$ 1.8
Accrued expenses and other liabilities	4.1	4.0
Other non-current liabilities	88.7	62.6
Health Care Benefits
Defined Benefit Plan Disclosure [Line Items]
Accrued expenses and other liabilities	1.6	1.7
Other non-current liabilities	$ 15.0	$ 14.7

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Income Taxes (Components Of Deferred Tax Liabilities And Assets) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Deferred tax liabilities:
Tax over book depreciation	$ (76.9)	$ (87.1)
Deferred Tax Liabilities, Goodwill and Intangible Assets	(135.2)	(132.4)
Other, net	(9.1)	(13.6)
Deferred Tax Liabilities, Gross	(221.2)	(233.1)
Deferred tax assets:
Pension and other post-retirement benefits	39.1	20.6
Employment costs	47.2	36.8
Environmental	46.5	49.3
Net operating loss carryforwards	42.0	38.0
Other, net	30.6	32.6
Total deferred tax assets	205.4	177.3
Valuation allowances	(23.6)	(29.3)
Total deferred tax liabilities	$ (39.4)	$ (85.1)

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Goodwill And Intangible Assets (Goodwill By Operating Segment) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Goodwill [Roll Forward]
Goodwill, gross at January 1, 2013			$ 608.8
Accumulated impairment losses			(203.3)
Balance, beginning of period	559.0	405.5
Acquisitions of businesses	32.1	154.1
Balance, end of period	590.6	559.0	405.5
Currency translation	(0.5)	(0.6)
Global Specialty Engineered Materials
Goodwill [Roll Forward]
Goodwill, gross at January 1, 2013			110.8
Accumulated impairment losses			(12.2)
Balance, beginning of period	99.9	98.6
Acquisitions of businesses	0	1.8
Balance, end of period	99.4	99.9	98.6
Currency translation	(0.5)	(0.5)
Global Color, Additives and Inks
Goodwill [Roll Forward]
Goodwill, gross at January 1, 2013			314.0
Accumulated impairment losses			(16.1)
Balance, beginning of period	310.2	297.9
Acquisitions of businesses	23.5	12.4
Balance, end of period	333.7	310.2	297.9
Currency translation	0	(0.1)
Designed Structures and Solutions [Member]
Goodwill [Roll Forward]
Goodwill, gross at January 1, 2013			0
Accumulated impairment losses			0
Balance, beginning of period	136.3	0
Acquisitions of businesses	8.4	136.3
Balance, end of period	144.7	136.3	0
Currency translation	0	0
Performance Products and Solutions
Goodwill [Roll Forward]
Goodwill, gross at January 1, 2013			182.4
Accumulated impairment losses			(175.0)
Balance, beginning of period	11.0	7.4
Acquisitions of businesses	0.2	3.6
Balance, end of period	11.2	11.0	7.4
Currency translation	0	0
PolyOne Distribution
Goodwill [Roll Forward]
Goodwill, gross at January 1, 2013			1.6
Accumulated impairment losses			0
Balance, beginning of period	1.6	1.6
Acquisitions of businesses	0	0
Balance, end of period	1.6	1.6	1.6
Currency translation	$ 0	$ 0

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Employee Benefit Plans (Impact Of One Percentage Point Change In Assumed Health Care Cost Trend Rates) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]
Defined Benefit Plan, Effect of One Percentage Point Increase on Service and Interest Cost Components	$ 0
One Percentage Point Decrease, Effect on total of service and interest cost	0
One Percentage Point Increase, Effect on post-retirement benefit obligation	1.1
One Percentage Point Decrease, Effect on post-retirement benefit obligation	$ (1.0)

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Income Taxes (Schedule Of Income (Loss) Before Income Taxes) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Tax Disclosure [Abstract]
Domestic	$ 54.1	$ 105.2	$ 46.2
Foreign	34.3	45.8	37.1
Income from continuing operations, before income taxes	$ 88.4	$ 151.0	$ 83.3

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Employee Benefit Plans (Schedule Of Contributions To The Retirement Savings Plan) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]
Retirement savings match	$ 9.7	$ 9.8	$ 7.6
Retirement benefit contribution	4.0	4.0	3.8
Total contributions	$ 13.7	$ 13.8	$ 11.4

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Income Taxes (Summary Of Income Tax (Expense) Benefit) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Current:
Federal	$ (33.5)	$ (17.4)	$ (1.7)
State	(3.1)	(2.8)	(0.9)
Foreign	(19.8)	(23.3)	(14.7)
Total current	(56.4)	(43.5)	(17.3)
Deferred:
Federal	36.7	(12.9)	(15.8)
State	4.6	(1.8)	0.1
Foreign	3.9	0.1	2.9
Total deferred	45.2	(14.6)	(12.8)
Income tax expense	$ (11.2)	$ (58.1)	$ (30.1)

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Employee Benefit Plans (Components Of Net Period Benefit Cost) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended			12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Mark-to-market actuarial net losses (gains)	$ 56.5	$ (44.0)	$ 42.0
Pension Benefits
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service cost				1.6	1.7	1.5
Interest cost				24.9	23.9	27.2
Expected return on plan assets				(32.2)	(37.4)	(27.6)
Amortization of prior service cost				0	0	0
Mark-to-market actuarial net losses (gains)				55.2	(43.0)	44.0
Net periodic benefit cost (gain)				49.5	(54.8)	45.1
Health Care Benefits
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service cost				0	0	0
Interest cost				0.7	0.6	0.8
Expected return on plan assets				0	0	0
Amortization of prior service cost				0	0	(17.4)
Mark-to-market actuarial net losses (gains)				1.3	(1.0)	(2.0)
Net periodic benefit cost (gain)				$ 2.0	$ (0.4)	$ (18.6)

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Employee Benefit Plans (Narrative) (Details) (USD $)	3 Months Ended			12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Defined Benefit Plan Disclosure [Line Items]
Mark-to-market actuarial net losses (gains)	$ 56,500,000	$ (44,000,000)	$ 42,000,000
Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of equity securities, minimum				60.00%
Percentage of equity securities, maximum				70.00%
Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of equity securities, minimum				30.00%
Percentage of equity securities, maximum				40.00%
Alternative Investments and Cash [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of equity securities, minimum				0.00%
Percentage of equity securities, maximum				10.00%
Large-cap equity | Minimum
Defined Benefit Plan Disclosure [Line Items]
Market capitalization	10,000,000,000			10,000,000,000
Small-cap equity | Maximum
Defined Benefit Plan Disclosure [Line Items]
Market capitalization	2,000,000,000			2,000,000,000
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Mark-to-market actuarial net losses (gains)				55,200,000	(43,000,000)	44,000,000
Employer contributions to defined benefit plans				24,500,000
Health Care Benefits
Defined Benefit Plan Disclosure [Line Items]
Mark-to-market actuarial net losses (gains)				1,300,000	(1,000,000)	(2,000,000)
Employer contributions to defined benefit plans				1,600,000

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Common Share Data

12 Months Ended

Dec. 31, 2014

Earnings Per Share [Abstract]

Common Share Data

Weighted-average shares used in computing net income per share are as follows:

(In millions)	2014	2013	2012
Weighted-average shares — basic:	92.3	95.5	89.1
Plus dilutive impact of share-based compensation	1.2	1.0	0.7
Weighted-average shares — diluted:	93.5	96.5	89.8

Outstanding share-based awards with exercise prices greater than the average price of the common shares are anti-dilutive and are not included in the computation of diluted net income per share. The number of anti-dilutive options and awards was 0.4 million, 0.3 million and 1.2 million at December 31, 2014, 2013 and 2012, respectively.

In August 2008, our Board of Directors approved a stock repurchase program authorizing us to repurchase up to 10.0 million of our common shares, in the open market or in privately negotiated transactions. On October 11, 2011, PolyOne’s Board of Directors increased the common share repurchase authorization amount by 5.3 million and on October 23, 2012 increased the authorization an additional 13.2 million. As of December 31, 2014, the total common shares available for repurchase is 8.7 million. PolyOne may make all or part of any repurchases pursuant to accelerated share repurchases or Rule 10b5-1 plans.

We purchased 6.3 million, 5.0 million and 1.2 million shares in 2014, 2013 and 2012, respectively, at an aggregate price of $233.2 million, $131.6 million and $15.9 million, respectively, under these authorizations.

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Description Of Business And Summary Of Significant Accounting Policies (Narrative) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014 segment	Dec. 31, 2013	Dec. 31, 2012
Accounting Policies [Line Items]
Number of reportable segments	5
Research and development costs	$ 53.4	$ 52.6	$ 41.3
Maximum
Accounting Policies [Line Items]
Finite-lived intangible asset useful life	22 years
Maximum | Machinery and equipment
Accounting Policies [Line Items]
Property and equipment useful lives	15 years
Maximum | Computer Software
Accounting Policies [Line Items]
Property and equipment useful lives	10 years
Maximum | Buildings
Accounting Policies [Line Items]
Property and equipment useful lives	40 years
Minimum | Machinery and equipment
Accounting Policies [Line Items]
Property and equipment useful lives	3 years

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Commitments And Contingencies (Tables)

12 Months Ended

Dec. 31, 2014

Commitments and Contingencies Disclosure [Abstract]

Schedule Of Changes In Environmental Accrued Liabilities

The following table details the changes in the environmental accrued liabilities:

(In millions)	2014			2013			2012
Balance at beginning of the year	$	125.9		$	75.4		$	76.2
Environmental expenses	10.3			61.2			12.8
Net cash payments	(14.7		)	(14.3		)	(13.7		)
Currency translation and other	(0.4		)	3.6			0.1
Balance at end of year	$	121.1		$	125.9		$	75.4

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Employee Benefit Plans (Weighted Average Assumptions Used To Determine Benefit Obligation) (Details)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Pension Benefits
Weighted-average assumptions used to determine benefit obligations at December 31:
Discount rate	3.88%	4.83%
Health Care Benefits
Weighted-average assumptions used to determine benefit obligations at December 31:
Discount rate	3.75%	4.38%
Net Periodic Benefit Cost [Member] | Health Care Benefits
Assumed health care cost trend rates at December 31:
Health care cost trend rate assumed for next year	7.02%	7.39%	8.35%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	4.50%	4.63%	5.00%
Year that the rate reaches the ultimate trend rate	2027	2025	2019
Benefit Obligation [Member] | Health Care Benefits
Assumed health care cost trend rates at December 31:
Health care cost trend rate assumed for next year	6.88%	7.02%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	4.50%	4.50%
Year that the rate reaches the ultimate trend rate	2027	2027

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Segment Information (Schedule Of Revenue And Long-Lived Assets) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended																12 Months Ended
	Dec. 31, 2014		Sep. 30, 2014		Jun. 30, 2014		Mar. 31, 2014		Dec. 31, 2013		Sep. 30, 2013		Jun. 30, 2013		Mar. 31, 2013		Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Segment Reporting Information [Line Items]
Sales:	$ 869.3	[1]	$ 958.4	[2]	$ 1,005.5	[3]	$ 1,002.3	[4]	$ 923.6	[5]	$ 1,008.9	[6]	$ 1,037.6	[7]	$ 801.1	[8]	$ 3,835.5	$ 3,771.2	$ 2,860.8
Long-lived assets:	596.7								646.2								596.7	646.2	385.8
United States
Segment Reporting Information [Line Items]
Sales:																	2,590.4	2,538.2	1,724.1
Long-lived assets:	421.1								444.4								421.1	444.4	240.9
Europe
Segment Reporting Information [Line Items]
Sales:																	511.8	519.7	488.1
Long-lived assets:	95.7								103.0								95.7	103.0	82.2
Canada
Segment Reporting Information [Line Items]
Sales:																	277.4	267.8	248.1
Long-lived assets:	12.8								13.2								12.8	13.2	5.7
Asia
Segment Reporting Information [Line Items]
Sales:																	246.2	239.0	221.2
Long-lived assets:	39.5								51.8								39.5	51.8	45.1
Mexico
Segment Reporting Information [Line Items]
Sales:																	178.4	158.1	141.8
Long-lived assets:	19.7								20.5								19.7	20.5	3.5
South America
Segment Reporting Information [Line Items]
Sales:																	31.3	48.4	37.5
Long-lived assets:	$ 7.9								$ 13.3								$ 7.9	$ 13.3	$ 8.4

[1] Included for the fourth quarter 2014 are: 1) mark-to-market pension and other post-retirement charge of $56.5 million, 2) employee separation and restructuring costs of $23.2 million, 3) environmental remediation costs of $2.6 million and 5) a gain related to the reimbursement of previously incurred environmental costs of $2.1 million.

[2] Included for the third quarter 2014 are: 1) $17.9 million in employee separation and restructuring costs, 2) $5.9 million in environmental remediation costs and 3) a gain related to the reimbursement of previously incurred environmental costs of $1.6 million.

[3] Included for the second quarter 2014 are: 1) $35.1 million in employee separation and restructuring costs and 2) $5.4 million tax benefit associated with our investments in certain foreign affiliates.

[4] Included for the first quarter 2014 are: 1) $17.9 million in employee separation and restructuring costs.

[5] Included for the fourth quarter 2013 are: 1) gains from the SunBelt earn-out of $26.8 million, 2) mark-to-market pension and other post-retirement benefit gains of $44.0 million, 3) environmental remediation costs of $52.6 million, 4) a gain related to the reimbursement of previously incurred environmental costs of $3.4 million and 5) employee separation and restructuring costs of $28.3 million.

[6] Included for the third quarter 2013 are: 1) $5.3 million in environmental remediation costs, 2) $10.9 million in employee separation and restructuring costs, 3) $7.0 million gain on commercial litigation, 4) $5.2 million in debt extinguishment costs associated with our outstanding debt repurchases and 5) $1.2 million of acquisition and divestiture-related costs.

[7] Included for the second quarter 2013 are: 1) pre-tax gain of $223.7 million related to the sale of the Resin Business, 2) $2.9 million in employee separation and restructuring costs, 3) acquisition and divestiture-related costs of $4.9 million, 4) environmental remediation costs of $1.3 million and 5) a gain related to the reimbursement of previously incurred environmental costs of $14.9 million.

[8] Included for the first quarter 2013 are: 1) $9.9 million in employee separation and restructuring costs 2) acquisition and divestiture-related costs of $8.7 million, 3) environmental remediation costs of $2.0 million, 4) a gain related to the reimbursement of previously incurred environmental costs of $5.2 million and 5) $10.6 million in debt extinguishment costs related to the early retirement of our senior secured term loan.

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Accounts Receivable (Tables)

12 Months Ended

Dec. 31, 2014

Receivables [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable

Accounts receivable, net as of December 31 consist of the following:

(In millions)	2014			2013
Trade accounts receivable	$	399.9		$	433.2
Allowance for doubtful accounts	(3.1		)	(5.2		)
Accounts receivable, net	$	396.8		$	428.0

The following table details the changes in allowance for doubtful accounts:

(In millions)	2014			2013			2012
Balance at beginning of the year	$	(5.2	)	$	(4.3	)	$	(4.8	)
Provision for doubtful accounts	(0.4		)	(0.2		)	(0.3		)
Accounts written off	2.2			0.2			0.4
Currency translation and other adjustments	0.3			(0.9		)	0.4
Balance at end of year	$	(3.1	)	$	(5.2	)	$	(4.3	)

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Business Combinations (Narrative) (Details) (USD $) In Millions, except Share data, unless otherwise specified	3 Months Ended																12 Months Ended			0 Months Ended						12 Months Ended	0 Months Ended
	Dec. 31, 2014		Sep. 30, 2014		Jun. 30, 2014		Mar. 31, 2014		Dec. 31, 2013		Sep. 30, 2013		Jun. 30, 2013		Mar. 31, 2013		Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Feb. 28, 2013	Dec. 01, 2014	Mar. 13, 2013		Mar. 13, 2013		Mar. 13, 2014	Dec. 19, 2012
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired																	$ 47.2	$ 259.4	$ 33.8
Spartech revolving credit facilities repaid at close																	122.8	117.5	0
Acquisition costs related to this acquisition											1.2		4.9		8.7
Sales	869.3	[1]	958.4	[2]	1,005.5	[3]	1,002.3	[4]	923.6	[5]	1,008.9	[6]	1,037.6	[7]	801.1	[8]	3,835.5	3,771.2	2,860.8
Goodwill	590.6								559.0								590.6	559.0	405.5
Selling and administrative expense
Business Acquisition [Line Items]
Acquisition costs related to this acquisition																		7.6	3.9
Senior Notes | 5.250% senior notes due 2023
Business Acquisition [Line Items]
Debt Instrument, Interest Rate During Period																				5.25%
Stated interest rate	5.25%								5.25%								5.25%	5.25%
Accella [Member]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired																					47.2
Intangible Assets, Net (Including Goodwill)																					40.5
Spartech Corporation
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired																								511.1
Revenue reported by acquired entity for last annual period																			1,149.4
Net income from continuing operations by acquired entity for last annual period																			2.7
Cash consideration transferred for each common share																						$ 2.67		$ 2.67
Exchange ratio																						31.67%
Cash consideration transferred to shareholders																								83.4
PolyOne shares issued																						10,000,000		10,000,000
Fair value of Spartech equity awards, net of deferred tax benefits																						2.4	[9]	2.4	[9]
Fair value Of equity awards before deferred tax benefits																								3.9
Deferred tax benefit																						1.5		1.5
Vested in period, total fair value																								2.7
Spartech revolving credit facilities repaid at close																								77.2	[10]
Spartech senior notes repaid at close																								102.3	[10]
Principal repayments of senior notes of business acquisition																								88.9
Make whole costs																								10.3
Interest payable																						3.1		3.1
Consideration transferred																								515.2
Cash acquired																								4.1
Goodwill																										162.6
Finalized purchase price allocation, Goodwill																										9.4
Spartech Corporation | Senior Notes | Senior Notes Due 2016
Business Acquisition [Line Items]
Stated interest rate																						7.08%		7.08%
Glasforms, Inc.
Business Acquisition [Line Items]
Sales																			51.1
Consideration transferred																											34.3
Cash acquired																											1.2
Goodwill																											12.4
Identifiable intangible assets																											$ 10.7

[1] Included for the fourth quarter 2014 are: 1) mark-to-market pension and other post-retirement charge of $56.5 million, 2) employee separation and restructuring costs of $23.2 million, 3) environmental remediation costs of $2.6 million and 5) a gain related to the reimbursement of previously incurred environmental costs of $2.1 million.

[2] Included for the third quarter 2014 are: 1) $17.9 million in employee separation and restructuring costs, 2) $5.9 million in environmental remediation costs and 3) a gain related to the reimbursement of previously incurred environmental costs of $1.6 million.

[3] Included for the second quarter 2014 are: 1) $35.1 million in employee separation and restructuring costs and 2) $5.4 million tax benefit associated with our investments in certain foreign affiliates.

[4] Included for the first quarter 2014 are: 1) $17.9 million in employee separation and restructuring costs.

[5] Included for the fourth quarter 2013 are: 1) gains from the SunBelt earn-out of $26.8 million, 2) mark-to-market pension and other post-retirement benefit gains of $44.0 million, 3) environmental remediation costs of $52.6 million, 4) a gain related to the reimbursement of previously incurred environmental costs of $3.4 million and 5) employee separation and restructuring costs of $28.3 million.

[6] Included for the third quarter 2013 are: 1) $5.3 million in environmental remediation costs, 2) $10.9 million in employee separation and restructuring costs, 3) $7.0 million gain on commercial litigation, 4) $5.2 million in debt extinguishment costs associated with our outstanding debt repurchases and 5) $1.2 million of acquisition and divestiture-related costs.

[7] Included for the second quarter 2013 are: 1) pre-tax gain of $223.7 million related to the sale of the Resin Business, 2) $2.9 million in employee separation and restructuring costs, 3) acquisition and divestiture-related costs of $4.9 million, 4) environmental remediation costs of $1.3 million and 5) a gain related to the reimbursement of previously incurred environmental costs of $14.9 million.

[8] Included for the first quarter 2013 are: 1) $9.9 million in employee separation and restructuring costs 2) acquisition and divestiture-related costs of $8.7 million, 3) environmental remediation costs of $2.0 million, 4) a gain related to the reimbursement of previously incurred environmental costs of $5.2 million and 5) $10.6 million in debt extinguishment costs related to the early retirement of our senior secured term loan.

[9] In accordance with ASC 718, Compensation — Stock Compensation, the fair value of replacement awards attributable to pre-combination service is recognized as part of purchase consideration. The $2.4 million represents the fair value of Spartech replacement equity awards of $3.9 million net of deferred income tax benefits of $1.5 million. The fair value of awards attributable to post-combination service amounted to $2.7 million and are being recognized as stock compensation over their requisite service periods within PolyOne's Consolidated Statements of Income.

[10] In accordance with the provisions of Spartech's 7.08% senior notes due 2016 and revolving credit facilities, at the time of closing, PolyOne repaid all borrowings under Spartech's revolving credit facilities, which amounted to $77.2 million. Additionally, PolyOne repaid $102.3 million related to Spartech's 7.08% senior notes due 2016, including $88.9 million of aggregated principal, $10.3 million make-whole provisions, and $3.1 million of interest payable.

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Accounts Receivable (Changes In Allowance For Doubtful Accounts) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Allowance for Doubtful Accounts Receivable [Roll Forward]
Balance at beginning of the year	$ (5.2)	$ (4.3)	$ (4.8)
Provision for doubtful accounts	(0.4)	(0.2)	(0.3)
Accounts written off	2.2	0.2	0.4
Currency translation and other adjustments	0.3	(0.9)	0.4
Balance at end of year	$ (3.1)	$ (5.2)	$ (4.3)

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Discontinued Operations (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended			0 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	May 30, 2013
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract]
Sales	$ 0	$ 55.3	$ 131.8
Gain on sale	0	223.7	0
Income from operations	0	12.2	29.7
Income before taxes	0	235.9	29.7
Income tax benefit (expense)	1.2	(86.1)	(11.1)
Income from discontinued operations, net of income taxes	1.2	149.8	18.6
Resin Business [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from Divestiture of Businesses				250.0
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax				139.7
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract]
Gain on sale				$ 223.7

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Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2014

Derivatives, Fair Value [Line Items]

Derivatives and Fair Value [Text Block]

The fair values of derivative financial instruments recorded in the Consolidated Balance Sheets are as follows: 

	December 31, 2014
(In millions)	Notional		Other current assets
Foreign currency forwards	$	5.1	$	—

	December 31, 2013
(In millions)	Notional		Other current assets
Foreign currency forwards	$	12.8	$	—

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance

The effects of derivative instruments on our Consolidated Statements of Income are as follows: 

(In millions)	2014		2013			2012			Location
Foreign currency options - (losses)	$	—	$	(0.4	)	$	(1.4	)	Selling and administrative expense
Foreign currency forwards - gains/(losses)	1.1		(0.6		)	(0.4		)	Other expense, net

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Description Of Business And Summary Of Significant Accounting Policies

12 Months Ended

Dec. 31, 2014

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Description Of Business And Summary Of Significant Accounting Policies

Note 1 — DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Description of Business

We are a premier provider of specialized polymer materials, services and solutions with operations in specialty polymer formulations, color and additive systems, plastic sheet and packaging solutions, and polymer distribution. We are also a highly specialized developer and manufacturer of performance enhancing additives, liquid colorants, and fluoropolymer and silicone colorants. Headquartered in Avon Lake, Ohio, we have employees at manufacturing sites and distribution facilities in North America, South America, Europe, Asia and Africa. We provide value to our customers through our ability to link our knowledge of polymers and formulation technology with our manufacturing and supply chain to provide value added solutions to designers, assemblers and processors of plastics (our customers). When used in this Annual Report on Form 10-K, the terms “we,” “us,” “our”, "PolyOne" and the “Company” mean PolyOne Corporation and its consolidated subsidiaries.

Our operations are located primarily in North America, Europe, Asia and Brazil. Our operations are reported in five reportable segments: Global Color, Additives and Inks; Global Specialty Engineered Materials; Designed Structures and Solutions; Performance Products and Solutions; and PolyOne Distribution. See Note 16,Segment Information, for more information.

On December 1, 2014, the Company completed the acquisition of specialty assets of Accella Performance Materials (Accella), a leading North American manufacturer of liquid polymer formulations. The Accella acquisition expands PolyOne's specialty portfolio and provides specialty coatings solutions and value-added services in a wide range of applications, including consumer products, interior and under-the-hood automotive parts, outdoor recreational equipment and food packaging. 

Accounting Standards Not Yet Adopted

In April 2014, the FASB issued ASU No. 2014-08, "Presentation of Financial Statements and Property, Plant, and Equipment," which revises what qualifies as a discontinued operation, changes the criteria for determining which disposals can be presented as discontinued operations and modifies related disclosure requirements. This ASU will be effective for the Company for applicable transactions occurring after January 1, 2015. We will prospectively apply the guidance to applicable transactions.

In May 2014, the Financial Accounting Standards Board issued Auditing Standards Update 2014-09, "Revenue from Contracts with Customers" (ASU 2014-09). Under this standard, a company recognizes revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The standard implements a five-step process for customer contract revenue recognition that focuses on transfer of control. It will be effective for us beginning January 1, 2017, with early adoption not permitted. Entities can transition to the standard either retrospectively or as a cumulative-effect adjustment as of the date of adoption. We are currently assessing the impact this standard will have on our consolidated financial statements as well as the method by which we will adopt the new standard.

Consolidation and Basis of Presentation

The consolidated financial statements include the accounts of PolyOne and its subsidiaries. All majority-owned affiliates over which we have control are consolidated. Transactions with related parties, including joint ventures, are in the ordinary course of business.

Reclassifications

Certain reclassifications of the prior period amounts and presentation have been made to conform to the presentation for the current period.

Use of Estimates

Preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions in certain circumstances that affect amounts reported in the accompanying consolidated financial statements and notes. Actual results could differ from these estimates.

Cash and Cash Equivalents

We consider all highly liquid investments purchased with a maturity of less than three months to be cash equivalents. Cash equivalents are stated at cost, which approximates fair value.

Allowance for Doubtful Accounts

We evaluate the collectability of receivables based on a combination of factors. We regularly analyze significant customer accounts and, when we become aware of a specific customer’s inability to meet its financial obligations to us, such as in the case of a bankruptcy filing or deterioration in the customer’s operating results or financial position, we record a specific allowance for bad debt to reduce the related receivable to the amount we reasonably believe is collectible. We also record bad debt allowances for all other customers based on a variety of factors including the length of time the receivables are past due, the financial health of the customer, economic conditions and historical experience. In estimating the allowances, we take into consideration the existence of credit insurance. If circumstances related to specific customers change, our estimates of the recoverability of receivables could be adjusted further. Accounts receivable balances are written off against the allowance for doubtful accounts after a final determination of uncollectability has been made.

Inventories

External purchases of raw materials and finished goods are valued at weighted average cost. Manufactured finished goods are stated at the lower of cost or market using the first-in, first-out (FIFO) method.

Long-lived Assets

Property, plant and equipment is carried at cost, net of depreciation and amortization that is computed using the straight-line method over the estimated useful lives of the assets, which generally ranges from 3 to 15 years for machinery and equipment and up to 40 years for buildings. During 2013 and 2014, we depreciated certain assets associated with closing manufacturing locations over a shortened life (through a cease-use date). Software is amortized over periods not exceeding 10 years. Property, plant and equipment is generally depreciated on accelerated methods for income tax purposes. We expense repair and maintenance costs as incurred. We capitalize replacements and betterments that increase the estimated useful life of an asset.

We retain fully depreciated assets in property and accumulated depreciation accounts until we remove them from service. In the case of sale, retirement or disposal, the asset cost and related accumulated depreciation balance is removed from the respective account, and the resulting net amount, less any proceeds, is included as a component of income from continuing operations in the accompanying Consolidated Statements of Income.

We account for operating leases under the provisions of Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 840, Leases.

Finite-lived intangible assets, which consist primarily of customer relationships, patents and technology are amortized over their estimated useful lives. The remaining useful lives range up to 22 years.

We assess the recoverability of long-lived assets when events or changes in circumstances indicate that we may not be able to recover the assets’ carrying amount. We measure the recoverability of assets to be held and used by a comparison of the carrying amount of the asset to the expected future undiscounted cash flows associated with the asset. We measure the amount of impairment of long-lived assets as the amount by which the carrying value of the asset exceeds the fair value of the asset, which is generally determined based on projected discounted future cash flows or appraised values.

Goodwill and Indefinite Lived Intangible Assets

Goodwill is the excess of the purchase price paid over the fair value of the net assets of the acquired business. Goodwill is tested for impairment at the reporting unit level. Our reporting units have been identified at the operating segment level, or in some cases, one level below the operating segment level. Goodwill is allocated to the reporting units based on the estimated fair value at the date of acquisition.

Our annual measurement date for testing impairment of goodwill and other indefinite-lived intangibles is October 1st. We completed our testing of impairment as of October 1, noting no impairment in 2014, 2013 or 2012. The future occurrence of a potential indicator of impairment would require an interim assessment for some or all of the reporting units prior to the next required annual assessment on October 1, 2015. Refer to Note 19,Fair Value, for further discussion of our approach for assessing the fair value of goodwill.

Litigation Reserves

FASB ASC Topic 450, Contingencies, requires that we accrue for loss contingencies associated with outstanding litigation, claims and assessments for which management has determined it is probable that a loss contingency exists and the amount of loss can be reasonably estimated. We record expense associated with professional fees related to litigation claims and assessments as incurred. Refer to Note 13,Commitments and Contingencies, for further information.

Derivative Financial Instruments

FASB ASC Topic 815, Derivative and Hedging, requires that all derivative financial instruments, such as foreign exchange contracts, be recognized in the financial statements and measured at fair value, regardless of the purpose or intent in holding them.

We are exposed to foreign currency changes in the normal course of business. We have established policies and procedures that manage this exposure through the use of financial instruments. By policy, we do not enter into these instruments for trading purposes or speculation. These instruments are not designated as hedges and, as a result, are adjusted to fair value, with the resulting gains and losses recognized in the accompanying Consolidated Statements of Income immediately.

Pension and Other Post-retirement Plans

We account for our pensions and other post-retirement benefits in accordance with FASB ASC Topic 715, Compensation — Retirement Benefits. This standard requires us to (1) recognize the funded status of the benefit plans in our Consolidated Balance Sheet, (2) recognize, as a component of other comprehensive income or net periodic benefit cost, the gains or losses and prior service costs or credits that arise during the period and (3) measure defined benefit plan assets and obligations as of December 31. We immediately recognize actuarial gains and losses in our operating results in the year in which the gains or losses occur. Refer to Note 12,Employee Benefit Plans, for more information.

Accumulated Other Comprehensive Loss

Changes in accumulated other comprehensive loss in 2014, 2013 and 2012 were as follows:

(In millions)	Cumulative Translation Adjustment			Pension and other post-retirement benefits			Unrealized gain in available-for-sale securities		Total
Balance at January 1, 2012	$	(17.6	)	$	16.1		$	0.2	$	(1.3	)
Translation adjustments	1.1			—			—		1.1
Prior service credits recognized during the year, net of tax of $6.5	—			(10.9		)	—		(10.9		)
Balance at December 31, 2012	(16.5		)	5.2			0.2		(11.1		)
Translation adjustments	(3.7		)	—			—		(3.7		)
Balance at December 31, 2013	(20.2		)	5.2			0.2		(14.8		)
Translation adjustments	(27.5		)	—			—		(27.5		)
Balance at December 31, 2014	$	(47.7	)	$	5.2		$	0.2	$	(42.3	)

Fair Value of Financial Instruments

FASB ASC Topic 820, Fair Value Measurements and Disclosures, requires disclosures of the fair value of financial instruments. The estimated fair values of financial instruments were principally based on market prices where such prices were available and, where unavailable, fair values were estimated based on market prices of similar instruments. See Note 19,Fair Value, for further discussion.

Foreign Currency Translation

Revenues and expenses are translated at average currency exchange rates during the related period. Assets and liabilities of foreign subsidiaries are translated using the exchange rate at the end of the period. The resulting translation adjustments are recorded as accumulated other comprehensive income or loss. Gains and losses resulting from foreign currency transactions, including intercompany transactions that are not considered permanent investments, are included in Other expense, net in the accompanying Consolidated Statements of Income.

Revenue Recognition

We recognize revenue when the revenue is realized or realizable and has been earned. We recognize revenue when a firm sales agreement is in place, shipment has occurred and collectability is reasonably assured.

Shipping and Handling Costs

Shipping and handling costs are included in cost of sales.

Research and Development Expense

Research and development costs from continuing operations, which were $53.4 million in 2014, $52.6 million in 2013 and $41.3 million in 2012, are charged to expense as incurred.

Environmental Costs

We expense costs that are associated with managing hazardous substances and pollution in ongoing operations on a current basis. Costs associated with environmental contamination are accrued when it becomes probable that a liability has been incurred and our proportionate share of the cost can be reasonably estimated. Any such provision is recognized using the Company's best estimate of the amount of loss incurred, or at the lower end of an estimated range, when a single best estimate is not determinable. In some cases, the Company may be able to recover a portion of the costs relating to these obligations from insurers or other third parties; however, the Company records such amounts only when it is probable that they will be collected.

Share-Based Compensation

We account for share-based compensation under the provisions of FASB ASC Topic 718, Compensation — Stock Compensation, which requires us to estimate the fair value of share-based awards on the date of grant. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service periods in the accompanying Consolidated Statements of Income. As of December 31, 2014, we had one active share-based employee compensation plan, which is described more fully in Note 15,Share-Based Compensation.

Income Taxes

Deferred income tax liabilities and assets are determined based upon the differences between the financial reporting and tax basis of assets and liabilities and are measured using the tax rate and laws currently in effect. In accordance with FASB ASC Topic 740, Income Taxes, we evaluate our deferred income taxes to determine whether a valuation allowance should be established against the deferred tax assets or whether the valuation allowance should be reduced based on consideration of all available evidence, both positive and negative, using a “more likely than not” standard.

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Financing Arrangements (Narrative) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended		12 Months Ended			0 Months Ended
	Sep. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Mar. 01, 2013	Feb. 28, 2013	Mar. 13, 2013		Mar. 31, 2014	Dec. 21, 2011	Nov. 04, 2013
Debt Instrument [Line Items]
Payments of Debt Extinguishment Costs	$ 5.2	$ 10.6
Company contributions				50.0
Proceeds from Long-term Debt			0	600.0	0
Interest income			1.1	1.3	0.8
Total interest paid on long-term and short-term borrowings			59.8	50.4	45.8
Other Debt [Member]
Debt Instrument [Line Items]
Debt Instrument, Repurchased Face Amount										8.0
Debt Instrument, Repurchase Amount				1.6
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity						400.0					300.0
Line of credit term						5 years
Line of Credit Facility, Increase (Decrease), Other, Net						100.0
Potential maximum borrowing capacity						450.0
Revolving Credit Facility | Various Banks
Debt Instrument [Line Items]
Current borrowing capacity			233.7
Amount oustanding			45.0
Saudi Hollandi Bank [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity												16.0
Short-term Debt, Percentage Bearing Fixed Interest Rate												0.85%
Letters of Credit Outstanding, Amount			0.2	0.3
Amount oustanding			13.1	12.3
Line of Credit Facility, Remaining Borrowing Capacity			2.7	3.4
Line of Credit Facility, Interest Rate at Period End			1.85%	1.85%
7.500% debentures due 2015
Debt Instrument [Line Items]
Debt Instrument, Repurchase Amount				1.3
7.500% debentures due 2015 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate				7.50%
Revolving credit facility due 2018
Debt Instrument [Line Items]
Payments of Debt Extinguishment Costs				10.6
Early Repayment of Senior Debt							297.0
Write-off of deferred note issuance costs				8.2
Write-off of Debt Discounts				2.4
7.375% senior notes due 2020
Debt Instrument [Line Items]
Debt Instrument, Repurchase Amount				43.4
7.375% senior notes due 2020 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate			7.375%	7.375%
5.250% senior notes due 2023 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate			5.25%	5.25%
Proceeds from Long-term Debt							600.0
Other assets
Debt Instrument [Line Items]
Debt financing related costs				13.0
Debt extinguishment costs | Line of Credit [Member]
Debt Instrument [Line Items]
Payments of Debt Extinguishment Costs				5.2
Spartech Corporation
Debt Instrument [Line Items]
Principal repayments of senior notes of business acquisition								88.9
Business Acquisition, Senior Note Repayment, Interest and Make Whole Costs								13.4
Early Repayment of Senior Debt								$ 102.3	[1]
Senior Notes | 7.500% debentures due 2015
Debt Instrument [Line Items]
Stated interest rate			7.50%

[1] In accordance with the provisions of Spartech's 7.08% senior notes due 2016 and revolving credit facilities, at the time of closing, PolyOne repaid all borrowings under Spartech's revolving credit facilities, which amounted to $77.2 million. Additionally, PolyOne repaid $102.3 million related to Spartech's 7.08% senior notes due 2016, including $88.9 million of aggregated principal, $10.3 million make-whole provisions, and $3.1 million of interest payable.

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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Schedule Of Income (Loss) Before Income Taxes

Income from continuing operations, before income taxes consists of the following:

(In millions)	2014		2013		2012
Domestic	$	54.1	$	105.2	$	46.2
Foreign	34.3		45.8		37.1
Income from continuing operations, before income taxes	$	88.4	$	151.0	$	83.3

Summary Of Income Tax (Expense) Benefit

A summary of income tax expense from continuing operations is as follows:

(In millions)	2014			2013			2012
Current:
Federal	$	(33.5	)	$	(17.4	)	$	(1.7	)
State	(3.1		)	(2.8		)	(0.9		)
Foreign	(19.8		)	(23.3		)	(14.7		)
Total current	$	(56.4	)	$	(43.5	)	$	(17.3	)
Deferred:
Federal	$	36.7		$	(12.9	)	$	(15.8	)
State	4.6			(1.8		)	0.1
Foreign	3.9			0.1			2.9
Total deferred	$	45.2		$	(14.6	)	$	(12.8	)
Total income tax expense	$	(11.2	)	$	(58.1	)	$	(30.1	)

Difference Between Effective Income Tax Rate And U.S. Statutory Rate

(In millions)	2014			2013			2012
Income tax expense at 35% of income from continuing operations, before income taxes	$	(30.9	)	$	(52.8	)	$	(29.2	)
State tax, net of federal benefit	1.1			(3.9		)	(1.3		)
Differences in rates of foreign operations	5.4			(1.2		)	3.3
Changes in valuation allowances	(6.9		)	(3.1		)	(0.9		)
U.S. research and development credit	1.0			2.1			—
Tax benefits on certain foreign investments	13.4			—			—
Uncertain tax positions	(0.9		)	0.5			0.1
U.S. tax settlements	2.8			—			—
Domestic manufacturing deduction	2.2			1.5			—
Other, net	1.6			(1.2		)	(2.1		)
Income tax expense	$	(11.2	)	$	(58.1	)	$	(30.1	)

Components Of Deferred Tax Liabilities And Assets

Components of our deferred tax liabilities and assets as of December 31, 2014 and 2013 were as follows:

(In millions)	2014			2013
Deferred tax liabilities:
Tax over book depreciation	$	(76.9	)	$	(87.1	)
Intangibles	(135.2		)	(132.4		)
Other, net	(9.1		)	(13.6		)
Total deferred tax liabilities	$	(221.2	)	$	(233.1	)
Deferred tax assets:
Pension and other post-retirement benefits	$	39.1		$	20.6
Employment costs	47.2			36.8
Environmental	46.5			49.3
Net operating loss carryforwards	42.0			38.0
Other, net	30.6			32.6
Total deferred tax assets	$	205.4		$	177.3
Valuation allowances	(23.6		)	(29.3		)
Net deferred tax liabilities	$	(39.4	)	$	(85.1	)

Changes In Unrecognized Tax Benefits

A reconciliation of unrecognized tax benefits is as follows:

	Unrecognized Tax Benefits
(In millions)	2014			2013			2012
Balance as of January 1	$	15.2		$	14.5		$	15.1
Additions based on tax positions related to the current year	4.8			—			0.2
Additions for tax positions of prior years	0.1			—			—
Reductions for tax positions of prior years	(2.3		)	(0.9		)	(0.4		)
Balances related to acquired businesses	14.2			1.1			—
Settlements and other	(3.4		)	0.5			(0.4		)
Balance as of December 31	$	28.6		$	15.2		$	14.5

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Description Of Business And Summary Of Significant Accounting Policies (Policy)

12 Months Ended

Dec. 31, 2014

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Description of New Accounting Pronouncements Not yet Adopted

Accounting Standards Not Yet Adopted

In April 2014, the FASB issued ASU No. 2014-08, "Presentation of Financial Statements and Property, Plant, and Equipment," which revises what qualifies as a discontinued operation, changes the criteria for determining which disposals can be presented as discontinued operations and modifies related disclosure requirements. This ASU will be effective for the Company for applicable transactions occurring after January 1, 2015. We will prospectively apply the guidance to applicable transactions.

In May 2014, the Financial Accounting Standards Board issued Auditing Standards Update 2014-09, "Revenue from Contracts with Customers" (ASU 2014-09). Under this standard, a company recognizes revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The standard implements a five-step process for customer contract revenue recognition that focuses on transfer of control. It will be effective for us beginning January 1, 2017, with early adoption not permitted. Entities can transition to the standard either retrospectively or as a cumulative-effect adjustment as of the date of adoption. We are currently assessing the impact this standard will have on our consolidated financial statements as well as the method by which we will adopt the new standard.

Consolidation And Basis Of Presentation

Consolidation and Basis of Presentation

The consolidated financial statements include the accounts of PolyOne and its subsidiaries. All majority-owned affiliates over which we have control are consolidated. Transactions with related parties, including joint ventures, are in the ordinary course of business.

Reclassification

Reclassifications

Certain reclassifications of the prior period amounts and presentation have been made to conform to the presentation for the current period.

Use Of Estimates

Use of Estimates

Preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions in certain circumstances that affect amounts reported in the accompanying consolidated financial statements and notes. Actual results could differ from these estimates.

Cash And Cash Equivalents

Cash and Cash Equivalents

We consider all highly liquid investments purchased with a maturity of less than three months to be cash equivalents. Cash equivalents are stated at cost, which approximates fair value.

Allowance For Doubtful Accounts

Allowance for Doubtful Accounts

We evaluate the collectability of receivables based on a combination of factors. We regularly analyze significant customer accounts and, when we become aware of a specific customer’s inability to meet its financial obligations to us, such as in the case of a bankruptcy filing or deterioration in the customer’s operating results or financial position, we record a specific allowance for bad debt to reduce the related receivable to the amount we reasonably believe is collectible. We also record bad debt allowances for all other customers based on a variety of factors including the length of time the receivables are past due, the financial health of the customer, economic conditions and historical experience. In estimating the allowances, we take into consideration the existence of credit insurance. If circumstances related to specific customers change, our estimates of the recoverability of receivables could be adjusted further. Accounts receivable balances are written off against the allowance for doubtful accounts after a final determination of uncollectability has been made.

Inventories

Inventories

External purchases of raw materials and finished goods are valued at weighted average cost. Manufactured finished goods are stated at the lower of cost or market using the first-in, first-out (FIFO) method.

Long-lived Assets

Long-lived Assets

Property, plant and equipment is carried at cost, net of depreciation and amortization that is computed using the straight-line method over the estimated useful lives of the assets, which generally ranges from 3 to 15 years for machinery and equipment and up to 40 years for buildings. During 2013 and 2014, we depreciated certain assets associated with closing manufacturing locations over a shortened life (through a cease-use date). Software is amortized over periods not exceeding 10 years. Property, plant and equipment is generally depreciated on accelerated methods for income tax purposes. We expense repair and maintenance costs as incurred. We capitalize replacements and betterments that increase the estimated useful life of an asset.

We retain fully depreciated assets in property and accumulated depreciation accounts until we remove them from service. In the case of sale, retirement or disposal, the asset cost and related accumulated depreciation balance is removed from the respective account, and the resulting net amount, less any proceeds, is included as a component of income from continuing operations in the accompanying Consolidated Statements of Income.

We account for operating leases under the provisions of Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 840, Leases.

Intangible Assets

Finite-lived intangible assets, which consist primarily of customer relationships, patents and technology are amortized over their estimated useful lives. The remaining useful lives range up to 22 years.

Impairment or Disposal of Long-Lived Assets

We assess the recoverability of long-lived assets when events or changes in circumstances indicate that we may not be able to recover the assets’ carrying amount. We measure the recoverability of assets to be held and used by a comparison of the carrying amount of the asset to the expected future undiscounted cash flows associated with the asset. We measure the amount of impairment of long-lived assets as the amount by which the carrying value of the asset exceeds the fair value of the asset, which is generally determined based on projected discounted future cash flows or appraised values.

Goodwill And Indefinite Lived Intangible Assets

Goodwill and Indefinite Lived Intangible Assets

Goodwill is the excess of the purchase price paid over the fair value of the net assets of the acquired business. Goodwill is tested for impairment at the reporting unit level. Our reporting units have been identified at the operating segment level, or in some cases, one level below the operating segment level. Goodwill is allocated to the reporting units based on the estimated fair value at the date of acquisition.

Our annual measurement date for testing impairment of goodwill and other indefinite-lived intangibles is October 1st. We completed our testing of impairment as of October 1, noting no impairment in 2014, 2013 or 2012. The future occurrence of a potential indicator of impairment would require an interim assessment for some or all of the reporting units prior to the next required annual assessment on October 1, 2015. Refer to Note 19,Fair Value, for further discussion of our approach for assessing the fair value of goodwill.

Litigation Reserves

Litigation Reserves

FASB ASC Topic 450, Contingencies, requires that we accrue for loss contingencies associated with outstanding litigation, claims and assessments for which management has determined it is probable that a loss contingency exists and the amount of loss can be reasonably estimated. We record expense associated with professional fees related to litigation claims and assessments as incurred. Refer to Note 13,Commitments and Contingencies, for further information.

Derivative Financial Instruments

Derivative Financial Instruments

FASB ASC Topic 815, Derivative and Hedging, requires that all derivative financial instruments, such as foreign exchange contracts, be recognized in the financial statements and measured at fair value, regardless of the purpose or intent in holding them.

We are exposed to foreign currency changes in the normal course of business. We have established policies and procedures that manage this exposure through the use of financial instruments. By policy, we do not enter into these instruments for trading purposes or speculation. These instruments are not designated as hedges and, as a result, are adjusted to fair value, with the resulting gains and losses recognized in the accompanying Consolidated Statements of Income immediately.

Pension And Other Post-Retirement Plans

Pension and Other Post-retirement Plans

We account for our pensions and other post-retirement benefits in accordance with FASB ASC Topic 715, Compensation — Retirement Benefits. This standard requires us to (1) recognize the funded status of the benefit plans in our Consolidated Balance Sheet, (2) recognize, as a component of other comprehensive income or net periodic benefit cost, the gains or losses and prior service costs or credits that arise during the period and (3) measure defined benefit plan assets and obligations as of December 31. We immediately recognize actuarial gains and losses in our operating results in the year in which the gains or losses occur. Refer to Note 12,Employee Benefit Plans, for more information.

Fair Value Of Financial Instruments

Fair Value of Financial Instruments

FASB ASC Topic 820, Fair Value Measurements and Disclosures, requires disclosures of the fair value of financial instruments. The estimated fair values of financial instruments were principally based on market prices where such prices were available and, where unavailable, fair values were estimated based on market prices of similar instruments. See Note 19,Fair Value, for further discussion.

Foreign Currency Translation

Foreign Currency Translation

Revenues and expenses are translated at average currency exchange rates during the related period. Assets and liabilities of foreign subsidiaries are translated using the exchange rate at the end of the period. The resulting translation adjustments are recorded as accumulated other comprehensive income or loss. Gains and losses resulting from foreign currency transactions, including intercompany transactions that are not considered permanent investments, are included in Other expense, net in the accompanying Consolidated Statements of Income.

Revenue Recognition

Revenue Recognition

We recognize revenue when the revenue is realized or realizable and has been earned. We recognize revenue when a firm sales agreement is in place, shipment has occurred and collectability is reasonably assured.

Shipping And Handling Costs

Shipping and Handling Costs

Shipping and handling costs are included in cost of sales.

Research And Development Expense

Research and Development Expense

Research and development costs from continuing operations, which were $53.4 million in 2014, $52.6 million in 2013 and $41.3 million in 2012, are charged to expense as incurred.

Environmental Costs

Environmental Costs

We expense costs that are associated with managing hazardous substances and pollution in ongoing operations on a current basis. Costs associated with environmental contamination are accrued when it becomes probable that a liability has been incurred and our proportionate share of the cost can be reasonably estimated. Any such provision is recognized using the Company's best estimate of the amount of loss incurred, or at the lower end of an estimated range, when a single best estimate is not determinable. In some cases, the Company may be able to recover a portion of the costs relating to these obligations from insurers or other third parties; however, the Company records such amounts only when it is probable that they will be collected.

Share-Based Compensation

Share-Based Compensation

We account for share-based compensation under the provisions of FASB ASC Topic 718, Compensation — Stock Compensation, which requires us to estimate the fair value of share-based awards on the date of grant. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service periods in the accompanying Consolidated Statements of Income. As of December 31, 2014, we had one active share-based employee compensation plan, which is described more fully in Note 15,Share-Based Compensation.

Income Taxes

Income Taxes

Deferred income tax liabilities and assets are determined based upon the differences between the financial reporting and tax basis of assets and liabilities and are measured using the tax rate and laws currently in effect. In accordance with FASB ASC Topic 740, Income Taxes, we evaluate our deferred income taxes to determine whether a valuation allowance should be established against the deferred tax assets or whether the valuation allowance should be reduced based on consideration of all available evidence, both positive and negative, using a “more likely than not” standard.

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Selected Quarterly Financial Data

12 Months Ended

Dec. 31, 2014

Selected Quarterly Financial Information [Abstract]

Selected Quarterly Financial Data (Unaudited)

	2014 Quarters									2013 Quarters
(In millions, except per share data)	Fourth (2)			Third (3)		Second (4)		First (5)		Fourth(6)		Third (7)		Second (8)		First (9)
Sales	$	869.3		$	958.4	$	1,005.5	$	1,002.3	$	923.6	$	1,008.9	$	1,037.6	$	801.1
Gross Margin	152.6			182.6		184.5		188.2		114.9		181.3		203.7		162.3
Operating (loss)/income	(14.3		)	63.6		49.4		56.4		48.7		61.6		80.7		40.5
Net (loss)/income from continuing operations	(15.0		)	32.3		30.7		29.2		20.6		23.0		38.3		11.0
Net (loss)/income from continuing operations attributable to PolyOne shareholders	$	(14.6	)	$	32.3	$	30.9	$	29.4	$	21.0	$	23.2	$	38.6	$	11.2
Net income from continuing operations per common share attributable to PolyOne common shareholders: (1)
Basic net (loss)/income - continuing operations	$	(0.16	)	$	0.35	$	0.33	$	0.31	$	0.22	$	0.24	$	0.39	$	0.12
Diluted net (loss)/income - continuing operations	$	(0.16	)	$	0.35	$	0.33	$	0.31	$	0.22	$	0.24	$	0.39	$	0.12

(1) Per share amounts for the quarter and the full year have been computed separately. The sum of the quarterly amounts may not equal the annual amounts presented because of differences in the average shares outstanding during each period.

(2) Included for the fourth quarter 2014 are: 1) mark-to-market pension and other post-retirement charge of $56.5 million, 2) employee separation and restructuring costs of $23.2 million, 3) environmental remediation costs of $2.6 million and 5) a gain related to the reimbursement of previously incurred environmental costs of $2.1 million.

(3) Included for the third quarter 2014 are: 1) $17.9 million in employee separation and restructuring costs, 2) $5.9 million in environmental remediation costs and 3) a gain related to the reimbursement of previously incurred environmental costs of $1.6 million.

(4) Included for the second quarter 2014 are: 1) $35.1 million in employee separation and restructuring costs and 2) $5.4 million tax benefit associated with our investments in certain foreign affiliates.

(5) Included for the first quarter 2014 are: 1) $17.9 million in employee separation and restructuring costs.

(6) Included for the fourth quarter 2013 are: 1) gains from the SunBelt earn-out of $26.8 million, 2) mark-to-market pension and other post-retirement benefit gains of $44.0 million, 3) environmental remediation costs of $52.6 million, 4) a gain related to the reimbursement of previously incurred environmental costs of $3.4 million and 5) employee separation and restructuring costs of $28.3 million.

(7) Included for the third quarter 2013 are: 1) $5.3 million in environmental remediation costs, 2) $10.9 million in employee separation and restructuring costs, 3) $7.0 million gain on commercial litigation, 4) $5.2 million in debt extinguishment costs associated with our outstanding debt repurchases and 5) $1.2 million of acquisition and divestiture-related costs.

(8) Included for the second quarter 2013 are: 1) pre-tax gain of $223.7 million related to the sale of the Resin Business, 2) $2.9 million in employee separation and restructuring costs, 3) acquisition and divestiture-related costs of $4.9 million, 4) environmental remediation costs of $1.3 million and 5) a gain related to the reimbursement of previously incurred environmental costs of $14.9 million.

(9) Included for the first quarter 2013 are: 1) $9.9 million in employee separation and restructuring costs 2) acquisition and divestiture-related costs of $8.7 million, 3) environmental remediation costs of $2.0 million, 4) a gain related to the reimbursement of previously incurred environmental costs of $5.2 million and 5) $10.6 million in debt extinguishment costs related to the early retirement of our senior secured term loan.

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Derivative Instruments (Fair Value of Derivative Instruments on Balance Sheet) (Details) (Foreign currency forwards, USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Foreign currency forwards
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign currency forwards at fair value	$ 5.1	$ 12.8

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Goodwill And Intangible Assets (Narrative) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Mar. 13, 2014	Dec. 19, 2012
Goodwill and Intangible Assets [Line Items]
Goodwill	$ 590.6	$ 559.0	$ 405.5
Indefinite-lived other intangible assets	99.7
Number of R&D in process projects	1
Amortization of other finite-lived intangible assets	19.2	17.8	13.2
Spartech Corporation [Member]
Goodwill and Intangible Assets [Line Items]
Goodwill				162.6
Glasforms, Inc.
Goodwill and Intangible Assets [Line Items]
Goodwill					12.4
ColorMatrix
Goodwill and Intangible Assets [Line Items]
Trade names acquired	63.1
In-process R&D acquired	3.4
GLS Corporation
Goodwill and Intangible Assets [Line Items]
Trade names acquired	$ 33.2

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Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2014

Summary Of Compensation Expense

Share-based compensation is included in Selling and administrative expense in the accompanying Consolidated Statements of Income. A summary of compensation expense by type of award follows:

(In millions)	2014		2013		2012
Stock appreciation rights	$	5.5	$	6.1	$	5.1
Performance shares	0.7		0.3		—
Restricted stock units	8.0		10.1		5.3
Total share-based compensation	$	14.2	$	16.5	$	10.4

Summary Of Stock Appreciation Rights

A summary of SAR activity for 2014 is presented below:

Stock Appreciation Rights In millions, except per share data)	Shares		Weighted-Average Exercise Price Per Share		Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding as of January 1, 2014	2.1		$	16.63	6.33	$	39.3
Granted	0.3		35.19		—
Exercised	(0.7	)	15.55		—
Forfeited or expired	(0.1	)	32.00		—
Outstanding as of December 31, 2014	1.6		$	20.13	6.63	$	28.9
Vested and exercisable as of December 31, 2014	0.8		$	14.81	5.02	$	19.0

Stock Appreciation Rights

Summary Of Assumptions Related To Grants

The following is a summary of the weighted average assumptions related to the grants issued during 2014, 2013 and 2012:

	2014	2013	2012
Expected volatility (weighted-average)	48.0%	50.0%	53.0%
Expected dividends	0.91%	1.04%	1.37%
Expected term (in years)	6.4	7.4	8.0
Risk-free rate	2.94%	2.12%	2.05%
Value of SARs granted	$14.05	$10.83	$6.92

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Description Of Business And Summary Of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2014

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss

Changes in accumulated other comprehensive loss in 2014, 2013 and 2012 were as follows:

(In millions)	Cumulative Translation Adjustment			Pension and other post-retirement benefits			Unrealized gain in available-for-sale securities		Total
Balance at January 1, 2012	$	(17.6	)	$	16.1		$	0.2	$	(1.3	)
Translation adjustments	1.1			—			—		1.1
Prior service credits recognized during the year, net of tax of $6.5	—			(10.9		)	—		(10.9		)
Balance at December 31, 2012	(16.5		)	5.2			0.2		(11.1		)
Translation adjustments	(3.7		)	—			—		(3.7		)
Balance at December 31, 2013	(20.2		)	5.2			0.2		(14.8		)
Translation adjustments	(27.5		)	—			—		(27.5		)
Balance at December 31, 2014	$	(47.7	)	$	5.2		$	0.2	$	(42.3	)

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Business Combinations (Tables) (Spartech Corporation)

12 Months Ended

Dec. 31, 2014

Spartech Corporation

Business Acquisition [Line Items]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

Based on the closing price of PolyOne's common stock on March 13, 2013, the purchase price was comprised of the following:

(In millions, except stock price and share data)
Spartech shares outstanding	31.2
Spartech restricted stock units	0.2
Spartech shares converted	31.4
Exchange ratio	0.3167
PolyOne shares issued	10.0
PolyOne closing stock price on March 13, 2013	$	25.05
Total value of PolyOne shares issued	$	249.9
Cash consideration transferred to Spartech shareholders	83.4
Fair value of Spartech equity awards, net of deferred tax benefits (1)	2.4
Total consideration transferred to Spartech equity holders	335.7
Spartech revolving credit facilities repaid at close (2)	77.2
Spartech senior notes repaid at close (2)	102.3
Total consideration transferred to debt and equity holders	515.2
Cash acquired	(4.1		)
Total consideration transferred to debt and equity holders, net of cash acquired	$	511.1

(1) In accordance with ASC 718, Compensation — Stock Compensation, the fair value of replacement awards attributable to pre-combination service is recognized as part of purchase consideration. The $2.4 million represents the fair value of Spartech replacement equity awards of $3.9 million net of deferred income tax benefits of $1.5 million. The fair value of awards attributable to post-combination service amounted to $2.7 million and are being recognized as stock compensation over their requisite service periods within PolyOne's Consolidated Statements of Income.

(2) In accordance with the provisions of Spartech's 7.08% senior notes due 2016 and revolving credit facilities, at the time of closing, PolyOne repaid all borrowings under Spartech's revolving credit facilities, which amounted to $77.2 million. Additionally, PolyOne repaid $102.3 million related to Spartech's 7.08% senior notes due 2016, including $88.9 million of aggregated principal, $10.3 million make-whole provisions, and $3.1 million of interest payable.

The following table summarizes PolyOne's final fair value estimates at the acquisition date:

(In millions)	Final allocation
Accounts receivable	$	139.7
Inventories	114.4
Other current assets	18.6
Property	280.3
Other non-current assets	19.6
Intangible assets	44.6
Goodwill	162.6
Total assets acquired	779.8
Short-term and current portion of long-term debt	0.5
Accounts payable	105.0
Accrued expenses and other liabilities	43.1
Long-term debt	11.0
Other non-current liabilities	109.1
Total liabilities assumed	268.7
Net assets acquired	$	511.1

Business Acquisition, Pro Forma Information

	Year Ended December 31,
(In millions)	Pro Forma 2013		Pro Forma 2012
Sales	$	3,989.2	$	4,006.9
Net income from continuing operations	$	94.7	$	56.5

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Consolidated Statements Of Shareholders' Equity (USD $) In Millions, unless otherwise specified	Total	Total PolyOne shareholders' equity	Common Shares	Common Shares Held in Treasury	Additional Paid-in Capital	Retained Earnings (Deficit)	Accumulated Other Comprehensive (Loss)	Non-controlling Interests	Total equity
Balance at Dec. 31, 2011		$ 588.3	$ 1.2	$ (369.4)	$ 1,042.7	$ (84.9)	$ (1.3)	$ 0	$ 588.3
Balance, Common shares at Dec. 31, 2011			122.2
Balance, Treasury shares at Dec. 31, 2011				(33.4)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	71.8	71.9				71.9		(0.1)	71.8
Other comprehensive income (loss)	(9.8)	(9.8)					(9.8)		(9.8)
Noncontrolling interest activity								2.4	2.4
Cash dividends declared		(17.8)			(17.8)				(17.8)
Repurchase of common shares		(15.9)		(15.9)					(15.9)
Repurchase of common shares, shares				(1.2)
Stock-based compensation and exercise of awards		12.4		21.2	(8.8)				12.4
Stock-based compensation and exercise of awards, shares				1.9
Balance at Dec. 31, 2012		629.1	1.2	(364.1)	1,016.1	(13.0)	(11.1)	2.3	631.4
Balance, Common shares at Dec. 31, 2012			122.2
Balance, Treasury shares at Dec. 31, 2012				(32.7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	242.7	243.8				243.8		(1.1)	242.7
Other comprehensive income (loss)	(3.7)	(3.7)					(3.7)		(3.7)
Noncontrolling interest activity								0.5	0.5
Shares issued in connection with acquisitions		253.8		117.2	136.6				253.8
Shares issued in connection with acquisitions				10.0
Cash dividends declared		(24.6)			(5.4)	(19.2)			(24.6)
Repurchase of common shares		(131.6)		(131.6)					(131.6)
Repurchase of common shares, shares				(5.0)
Stock-based compensation and exercise of awards		10.0		7.5	2.5				10.0
Stock-based compensation and exercise of awards, shares				0.6
Balance at Dec. 31, 2013	978.5	976.8	1.2	(371.0)	1,149.8	211.6	(14.8)	1.7	978.5
Balance, Common shares at Dec. 31, 2013			122.2
Balance, Treasury shares at Dec. 31, 2013	(27.1)			(27.1)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	78.4	79.2				79.2		(0.8)	78.4
Other comprehensive income (loss)	(27.5)	(27.5)					(27.5)		(27.5)
Cash dividends declared		(31.1)				(31.1)			(31.1)
Repurchase of common shares		(233.2)		(233.2)					(233.2)
Repurchase of common shares, shares				(6.3)
Stock-based compensation and exercise of awards		12.1		6.5	5.6				12.1
Stock-based compensation and exercise of awards, shares				0.5
Balance at Dec. 31, 2014	$ 777.2	$ 776.3	$ 1.2	$ (597.7)	$ 1,155.4	$ 259.7	$ (42.3)	$ 0.9	$ 777.2
Balance, Common shares at Dec. 31, 2014			122.2
Balance, Treasury shares at Dec. 31, 2014	(32.9)			(32.9)

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Goodwill And Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill By Operating Segment

Goodwill as of December 31, 2014 and 2013, and changes in the carrying amount of goodwill by segment were as follows:

(In millions)	Global Specialty Engineered Materials			Global Color, Additives and Inks			Designed Structures and Solutions		Performance Products and Solutions			PolyOne Distribution		Total
Goodwill, gross at January 1, 2013	$	110.8		$	314.0		$	—	$	182.4		$	1.6	$	608.8
Accumulated impairment losses	(12.2		)	(16.1		)	—		(175.0		)	—		(203.3		)
Goodwill, net at January 1, 2013	98.6			297.9			—		7.4			1.6		405.5
Acquisitions of businesses	1.8			12.4			136.3		3.6			—		154.1
Currency translation	(0.5		)	(0.1		)	—		—			—		(0.6		)
Balance at December 31, 2013	99.9			310.2			136.3		11.0			1.6		559.0
Acquisitions of businesses	—			23.5			8.4		0.2			—		32.1
Currency translation	(0.5		)	—			—		—			—		(0.5		)
Balance at December 31, 2014	$	99.4		$	333.7		$	144.7	$	11.2		$	1.6	$	590.6

Carrying Value And Accumulated Amortization Of Intangible Assets

Indefinite and finite-lived intangible assets consisted of the following:

	As of December 31, 2014
(In millions)	Acquisition Cost		Accumulated Amortization			Currency Translation			Impairment			Net
Customer relationships	$	199.4	$	(32.6	)	$	—		$	(1.3	)	$	165.5
Patents, technology and other	133.4		(35.3		)	(0.1		)	(0.5		)	97.5
Indefinite-lived trade names	96.3		—			—			—			96.3
In-process research and development	3.4		—			—			—			3.4
Total	$	432.5	$	(67.9	)	$	(0.1	)	$	(1.8	)	$	362.7

	As of December 31, 2013
(In millions)	Acquisition Cost		Accumulated Amortization			Currency Translation		Net
Customer relationships	$	181.5	$	(24.1	)	$	0.1	$	157.5
Patents, technology and other	134.3		(25.8		)	0.1		108.6
Indefinite-lived trade names	96.3		—			—		96.3
In-process research and development	3.4		—			—		3.4
Total	$	415.5	$	(49.9	)	$	0.2	$	365.8

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

As of December 31, 2014, we expect amortization expense on finite-lived intangibles for the next five years as follows:

	2015	2016	2017	2018	2019
Expected amortization	$20.0	$20.1	$20.1	$20.1	$20.0

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Commitments And Contingencies (Schedule Of Changes In Environmental Accrued Liabilities) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Accrual for Environmental Loss Contingencies [Roll Forward]
Balance at beginning of the year	$ 125.9	$ 75.4	$ 76.2
Environmental expenses	10.3	61.2	12.8
Net cash payments	(14.7)	(14.3)	(13.7)
Currency translation and other	(0.4)	3.6	0.1
Balance at end of year	$ 121.1	$ 125.9	$ 75.4

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Other Balance Sheet Liabilities (Tables)

12 Months Ended

Dec. 31, 2014

Other Liabilities Disclosure [Abstract]

Components Of Other Liabilities

Other liabilities at December 31, 2014 and 2013 consist of the following:

	Accrued expenses and other liabilities				Other non-current liabilities
	December 31,				December 31,
(In millions)	2014		2013		2014		2013
Employment costs	$	112.2	$	128.7	$	23.4	$	19.1
Environmental liabilities	11.5		12.0		109.6		113.9
Accrued taxes	10.3		34.7		—		—
Pension and other post-employment benefits	5.7		5.7		—		—
Accrued interest	16.1		16.2		—		—
Dividends payable	8.8		7.6		—		—
Unrecognized tax benefits	2.1		0.1		26.0		18.1
Other	6.8		4.3		19.3		18.3
Total	$	173.5	$	209.3	$	178.3	$	169.4

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Business Combination (Purchase Price Allocation (Details) (USD $) In Millions, except Share data, unless otherwise specified	12 Months Ended			0 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Mar. 13, 2013		Mar. 13, 2013
Business Acquisition [Line Items]
Spartech revolving credit facilities repaid at close	$ 122.8	$ 117.5	$ 0
Total consideration transferred to debt and equity holders, net of cash acquired	47.2	259.4	33.8
Spartech Corporation
Business Acquisition [Line Items]
Spartech shares outstanding				31,200,000		31,200,000
Spartech shares converted						31,400,000
Exchange ratio				31.67%
PolyOne shares issued				10,000,000		10,000,000
PolyOne closing stock price on March 13, 2013				$ 25.05		$ 25.05
Total value of PolyOne shares issued				249.9		249.9
Cash consideration transferred to shareholders						83.4
Fair value of Spartech equity awards, net of deferred tax benefits				2.4	[1]	2.4	[1]
Total consideration transferred to Spartech equity holders						335.7
Spartech revolving credit facilities repaid at close						77.2	[2]
Spartech senior notes repaid at close						102.3	[2]
Total consideration transferred to debt and equity holders						515.2
Cash acquired						(4.1)
Total consideration transferred to debt and equity holders, net of cash acquired						$ 511.1
Spartech Corporation | Restricted stock units
Business Acquisition [Line Items]
Spartech restricted stock units						200,000

[1] In accordance with ASC 718, Compensation — Stock Compensation, the fair value of replacement awards attributable to pre-combination service is recognized as part of purchase consideration. The $2.4 million represents the fair value of Spartech replacement equity awards of $3.9 million net of deferred income tax benefits of $1.5 million. The fair value of awards attributable to post-combination service amounted to $2.7 million and are being recognized as stock compensation over their requisite service periods within PolyOne's Consolidated Statements of Income.

[2] In accordance with the provisions of Spartech's 7.08% senior notes due 2016 and revolving credit facilities, at the time of closing, PolyOne repaid all borrowings under Spartech's revolving credit facilities, which amounted to $77.2 million. Additionally, PolyOne repaid $102.3 million related to Spartech's 7.08% senior notes due 2016, including $88.9 million of aggregated principal, $10.3 million make-whole provisions, and $3.1 million of interest payable.

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Employee Benefit Plans (Change In Benefit Obligation, Change In Plan Assets And Components Of Funded Status) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Change in plan assets:
Company contributions		$ 50.0
Plan assets — end of year	484.0	472.2
Pension Benefits
Change in benefit obligation:
Projected benefit obligation — beginning of year	537.0	597.2
Service cost	1.6	1.7	1.5
Interest cost	24.9	23.9	27.2
Actuarial loss (gain)	70.9	(35.5)
Benefits paid	(54.8)	(51.5)
Other	(2.8)	1.2
Projected benefit obligation — end of year	576.8	537.0	597.2
Projected salary increases	(3.5)	(2.8)
Accumulated benefit obligation	573.3	534.2
Change in plan assets:
Plan assets — beginning of year	472.2	410.4
Actual return on plan assets	47.8	44.9
Company contributions	20.1	68.0
Plan participants’ contributions	0	0
Benefits paid	(54.8)	(51.5)
Other	(1.3)	0.4
Plan assets — end of year	484.0	472.2	410.4
Unfunded status at end of year	(92.8)	(64.8)
Health Care Benefits
Change in benefit obligation:
Projected benefit obligation — beginning of year	16.4	18.9
Service cost	0	0	0
Interest cost	0.7	0.6	0.8
Actuarial loss (gain)	1.3	(1.0)
Benefits paid	(1.7)	(2.0)
Other	(0.1)	(0.1)
Projected benefit obligation — end of year	16.6	16.4	18.9
Projected salary increases	0	0
Accumulated benefit obligation	16.6	16.4
Change in plan assets:
Plan assets — beginning of year	0	0
Actual return on plan assets	0	0
Company contributions	1.5	1.8
Plan participants’ contributions	0.2	0.2
Benefits paid	(1.7)	(2.0)
Other	0	0
Plan assets — end of year	0	0	0
Unfunded status at end of year	$ (16.6)	$ (16.4)

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Consolidated Statements Of Income (USD $) In Millions, except Per Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Statement [Abstract]
Sales	$ 3,835.5	$ 3,771.2	$ 2,860.8
Cost of sales	3,127.6	3,109.0	2,329.7
Gross margin	707.9	662.2	531.1
Selling and administrative expense	552.8	457.6	417.0
Income related to previously owned equity affiliates	0	26.9	23.4
Operating income	155.1	231.5	137.5
Interest expense, net	(62.2)	(63.5)	(50.8)
Debt extinguishment costs	0	(15.8)	0
Other expense, net	(4.5)	(1.2)	(3.4)
Income from continuing operations, before income taxes	88.4	151.0	83.3
Income tax expense	(11.2)	(58.1)	(30.1)
Net income from continuing operations	77.2	92.9	53.2
Income from discontinued operations, net of income taxes	1.2	149.8	18.6
Net income	78.4	242.7	71.8
Net loss attributable to noncontrolling interests	0.8	1.1	0.1
Net income attributable to PolyOne common shareholders	$ 79.2	$ 243.8	$ 71.9
Earnings per share attributable to PolyOne common shareholders - basic:
Continuing operations	$ 0.85	$ 0.98	$ 0.60
Discontinued operations	$ 0.01	$ 1.57	$ 0.21
Total	$ 0.86	$ 2.55	$ 0.81
Continuing operations	$ 0.83	$ 0.97	$ 0.59
Discontinued operations	$ 0.02	$ 1.56	$ 0.21
Total	$ 0.85	$ 2.53	$ 0.80
Cash dividends declared per common share	$ 0.34	$ 0.26	$ 0.20
Weighted-average number of common shares outstanding:
Basic (in shares)	92.3	95.5	89.1
Diluted (in shares)	93.5	96.5	89.8

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Segment Information (Tables)

12 Months Ended

Dec. 31, 2014

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment [Table Text Block]

Financial information by reportable segment is as follows:

Year Ended December 31, 2014 (In millions)	Sales to  External Customers		Intersegment Sales			Total Sales			Operating Income			Depreciation and Amortization		Capital Expenditures		Total Assets
Global Color, Additives and Inks	835.0		15.8			850.8			124.9			41.4		28.1		937.7
Global Specialty Engineered Materials	555.2		43.1			598.3			72.4			16.7		15.2		370.5
Designed Structures and Solutions	616.5		1.0			617.5			45.1			24.4		25.6		490.2
Performance Products and Solutions	728.2		88.4			816.6			63.1			17.7		15.2		265.5
PolyOne Distribution	1,100.6		13.8			1,114.4			68.2			0.6		0.1		214.2
Corporate and eliminations	—		(162.1		)	(162.1		)	(218.6		)	23.1		8.6		433.1
Total	$	3,835.5	$	—		$	3,835.5		$	155.1		$	123.9	$	92.8	$	2,711.2

Year Ended December 31, 2013 (In millions)	Sales to  External Customers		Intersegment Sales			Total Sales			Operating Income			Depreciation and Amortization(1)		Capital Expenditures (1a)		Total Assets
Global Color, Additives and Inks	844.6		7.7			852.3			104.0			38.8		29.3		962.0
Global Specialty Engineered Materials	571.9		43.6			615.5			57.2			18.8		14.3		379.6
Designed Structures and Solutions	597.3		0.1			597.4			33.4			21.2		13.4		549.4
Performance Products and Solutions	690.9		82.3			773.2			56.0			15.5		12.4		278.7
PolyOne Distribution	1,066.5		8.7			1,075.2			63.3			0.6		0.3		216.7
Corporate and eliminations	—		(142.4		)	(142.4		)	(82.4		)	13.9		6.5		557.7
Total	$	3,771.2	$	—		$	3,771.2		$	231.5		$	108.8	$	76.2	$	2,944.1

(1) Excludes $1.0 million of depreciation expense associated with the Resin Business.

(1a) Excludes $0.2 million of capital expenditures associated with the Resin Business.

Year Ended December 31, 2012 (In millions)	Sales to  External Customers		Intersegment Sales			Total Sales			Operating Income			Depreciation and Amortization (2)		Capital Expenditures (2a)		Total Assets
Global Color, Additives and Inks	776.1		2.1			778.2			75.3			32.9		28.2		901.7
Global Specialty Engineered Materials	504.9		38.7			543.6			47.0			14.3		12.9		396.6
Performance Products and Solutions	554.9		75.4			630.3			38.8			13.7		4.6		205.4
PolyOne Distribution	1,024.9		5.4			1,030.3			66.0			0.7		0.6		212.9
Corporate and eliminations	—		(121.6		)	(121.6		)	(89.6		)	4.2		8.5		411.4
Total	$	2,860.8	$	—		$	2,860.8		$	137.5		$	65.8	$	54.8	$	2,128.0

(2) Excludes $4.0 million of depreciation expense associated with the Resin Business.

(2a) Excludes $2.6 million of capital expenditures associated with the Resin Business.

Schedule Of Revenue And Long-Lived Assets

Our sales are primarily to customers in the United States, Canada, Mexico, Europe, South America and Asia, and the majority of our assets are located in these same geographic areas. Following is a summary of sales and long-lived assets based on the geographic areas where the sales originated and where the assets are located:

(In millions)	2014		2013		2012
Sales:
United States	$	2,590.4	$	2,538.2	$	1,724.1
Europe	511.8		519.7		488.1
Canada	277.4		267.8		248.1
Asia	246.2		239.0		221.2
Mexico	178.4		158.1		141.8
South America	31.3		48.4		37.5
Total Sales	$	3,835.5	$	3,771.2	$	2,860.8
Long-lived assets:
United States	$	421.1	$	444.4	$	240.9
Europe	95.7		103.0		82.2
Canada	12.8		13.2		5.7
Asia	39.5		51.8		45.1
Mexico	19.7		20.5		3.5
South America	7.9		13.3		8.4
Total Long-lived assets	$	596.7	$	646.2	$	385.8

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Segment Information (Schedule Of Segment Information) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended																12 Months Ended
	Dec. 31, 2014		Sep. 30, 2014		Jun. 30, 2014		Mar. 31, 2014		Dec. 31, 2013		Sep. 30, 2013		Jun. 30, 2013		Mar. 31, 2013		Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Segment Reporting Information [Line Items]
Intersegment sales																	$ 0	$ 0	$ 0
Total Sales																	3,835.5	3,771.2	2,860.8
Operating Income	(14.3)	[1]	63.6	[2]	49.4	[3]	56.4	[4]	48.7	[5]	61.6	[6]	80.7	[7]	40.5	[8]	155.1	231.5	137.5
Depreciation and amortization																	123.9	109.8	69.8
Capital Expenditures (1a)																	92.8	76.4	57.4
Total Assets	2,711.2								2,944.1								2,711.2	2,944.1	2,128.0
Global Specialty Engineered Materials
Segment Reporting Information [Line Items]
Revenue, Net																	555.2	571.9	504.9
Intersegment sales																	43.1	43.6	38.7
Total Sales																	598.3	615.5	543.6
Operating Income																	72.4	57.2	47.0
Depreciation and amortization																	16.7	18.8	14.3
Capital Expenditures (1a)																	15.2	14.3	12.9
Total Assets	370.5								379.6								370.5	379.6	396.6
Global Color, Additives and Inks
Segment Reporting Information [Line Items]
Revenue, Net																	835.0	844.6	776.1
Intersegment sales																	15.8	7.7	2.1
Total Sales																	850.8	852.3	778.2
Operating Income																	124.9	104.0	75.3
Depreciation and amortization																	41.4	38.8	32.9
Capital Expenditures (1a)																	28.1	29.3	28.2
Total Assets	937.7								962.0								937.7	962.0	901.7
Designed Structures and Solutions [Member]
Segment Reporting Information [Line Items]
Revenue, Net																	616.5	597.3
Intersegment sales																	1.0	0.1
Total Sales																	617.5	597.4
Operating Income																	45.1	33.4
Depreciation and amortization																	24.4	21.2
Capital Expenditures (1a)																	25.6	13.4
Total Assets	490.2								549.4								490.2	549.4
Performance Products and Solutions
Segment Reporting Information [Line Items]
Revenue, Net																	728.2	690.9	554.9
Intersegment sales																	88.4	82.3	75.4
Total Sales																	816.6	773.2	630.3
Operating Income																	63.1	56.0	38.8
Depreciation and amortization																	17.7	15.5	13.7
Capital Expenditures (1a)																	15.2	12.4	4.6
Total Assets	265.5								278.7								265.5	278.7	205.4
PolyOne Distribution
Segment Reporting Information [Line Items]
Revenue, Net																	1,100.6	1,066.5	1,024.9
Intersegment sales																	13.8	8.7	5.4
Total Sales																	1,114.4	1,075.2	1,030.3
Operating Income																	68.2	63.3	66.0
Depreciation and amortization																	0.6	0.6	0.7
Capital Expenditures (1a)																	0.1	0.3	0.6
Total Assets	214.2								216.7								214.2	216.7	212.9
Corporate and eliminations
Segment Reporting Information [Line Items]
Revenue, Net																	0	0	0
Intersegment sales																	(162.1)	(142.4)	(121.6)
Total Sales																	(162.1)	(142.4)	(121.6)
Operating Income																	(218.6)	(82.4)	(89.6)
Depreciation and amortization																	23.1	13.9	4.2
Capital Expenditures (1a)																	8.6	6.5	8.5
Total Assets	433.1								557.7								433.1	557.7	411.4
Resin Business [Member]
Segment Reporting Information [Line Items]
Capital Expenditures (1a)																		0.2	2.6
Depreciation and Amortization, Discontinued Operations																		1.0	4.0
Continuing Operations [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization																	123.9	108.8	65.8
Capital Expenditures (1a)																	$ 92.8	$ 76.2	$ 54.8

[1] Included for the fourth quarter 2014 are: 1) mark-to-market pension and other post-retirement charge of $56.5 million, 2) employee separation and restructuring costs of $23.2 million, 3) environmental remediation costs of $2.6 million and 5) a gain related to the reimbursement of previously incurred environmental costs of $2.1 million.

[2] Included for the third quarter 2014 are: 1) $17.9 million in employee separation and restructuring costs, 2) $5.9 million in environmental remediation costs and 3) a gain related to the reimbursement of previously incurred environmental costs of $1.6 million.

[3] Included for the second quarter 2014 are: 1) $35.1 million in employee separation and restructuring costs and 2) $5.4 million tax benefit associated with our investments in certain foreign affiliates.

[4] Included for the first quarter 2014 are: 1) $17.9 million in employee separation and restructuring costs.

[5] Included for the fourth quarter 2013 are: 1) gains from the SunBelt earn-out of $26.8 million, 2) mark-to-market pension and other post-retirement benefit gains of $44.0 million, 3) environmental remediation costs of $52.6 million, 4) a gain related to the reimbursement of previously incurred environmental costs of $3.4 million and 5) employee separation and restructuring costs of $28.3 million.

[6] Included for the third quarter 2013 are: 1) $5.3 million in environmental remediation costs, 2) $10.9 million in employee separation and restructuring costs, 3) $7.0 million gain on commercial litigation, 4) $5.2 million in debt extinguishment costs associated with our outstanding debt repurchases and 5) $1.2 million of acquisition and divestiture-related costs.

[7] Included for the second quarter 2013 are: 1) pre-tax gain of $223.7 million related to the sale of the Resin Business, 2) $2.9 million in employee separation and restructuring costs, 3) acquisition and divestiture-related costs of $4.9 million, 4) environmental remediation costs of $1.3 million and 5) a gain related to the reimbursement of previously incurred environmental costs of $14.9 million.

[8] Included for the first quarter 2013 are: 1) $9.9 million in employee separation and restructuring costs 2) acquisition and divestiture-related costs of $8.7 million, 3) environmental remediation costs of $2.0 million, 4) a gain related to the reimbursement of previously incurred environmental costs of $5.2 million and 5) $10.6 million in debt extinguishment costs related to the early retirement of our senior secured term loan.

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Consolidated Balance Sheets (Parenthetical) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Statement of Financial Position [Abstract]
Preferred stock, authorized	40,000,000	40,000,000
Preferred stock, issued	0	0
common shares, par value	$ 0.01	$ 0.01
common shares, authorized	400,000,000	400,000,000
common shares, issued	122,200,000	122,200,000
Treasury stock, shares	32,900,000	27,100,000

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Share-Based Compensation (Summary Of Stock Appreciation Rights) (Details) (Stock Appreciation Rights, USD $) In Millions, except Per Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Stock Appreciation Rights
Share-Based Compensation Arrangement By Share-based Payment Award [Line Items]
Share-based Compensation Arrangement By Share-based Payment Award, Equity Instruments Other Than Options, Forfeitures Estimated Percentage	3.00%	3.00%	3.00%
Shares
Shares outstanding as of January 1, 2014	2.1
Granted, Shares	0.3	0.5	0.8
Exercised, Shares	(0.7)
Forfeited or expired, Shares	(0.1)
Shares outstanding as of December 31, 2014	1.6	2.1
Outstanding, vested and exercisable, Shares	0.8
Weighted-Average Exercise Price Per Share
Outstanding as of January 1, 2014, Weighted-Average Exercise Price Per Share	$ 16.63
Granted, Weighted-Average Exercise Price Per Share	$ 35.19
Exercised, Weighted-Average Exercise Price Per Share	$ 15.55
Forfeited or expired, Weighted-Average Exercise Price Per Share	$ 32.00
Outstanding as of December 31, 2014, Weighted-Average Exercise Price Per Share	$ 20.13	$ 16.63
Outstanding, vested and exercisable as of December 31, 2014, Weighted Average Exercise Price Per Share	$ 14.81
Weighted-Average Remaining Contractual Term And Aggregate Intrinsic Value
Outstanding as of January 1, 2014, Weighted-Average Remaining Contractual Term	6 years 7 months 17 days	6 years 3 months 29 days
Outstanding as of December 31, 2014, Weighted-Average Remaining Contractual Term	6 years 7 months 17 days	6 years 3 months 29 days
Vested and exercisable as of December 31, 2014, Weighted-Average Remaining Contractual Term	5 years 0 months 7 days
Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Outstanding Including Vested And Nonvested, Aggregate Intrinsic Value	$ 28.9	$ 39.3
Vested and exercisable as of December 31, 2014, Aggregate Intrinsic Value	$ 19.0

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Goodwill And Intangible Assets Schedule of Future Amortization (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
2015	$ 20.0
2016	20.1
2017	20.1
2018	20.1
2019	$ 20.0

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Common Share Narrative (Details) (USD $) In Millions, except Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Oct. 23, 2012	Oct. 11, 2011	Aug. 31, 2008
Earnings Per Share [Abstract]
Weighted-average shares - basic:	92,300,000	95,500,000	89,100,000
Anti-dilutive effect on computation of diluted earnings per share	400,000	300,000	1,200,000
Common shares authorized to be repurchased						10,000,000
Increase in common share repurchase authorization				13,200,000	5,300,000
Remaining shares to be repurchased	8,700,000
Repurchase of common shares, shares	6,300,000	5,000,000	1,200,000
Purchase of common shares for treasury	$ 233.2	$ 131.6	$ 15.9
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	1,200,000	1,000,000	700,000
Weighted Average Number of Shares Outstanding, Diluted	93,500,000	96,500,000	89,800,000

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Financing Arrangements (Tables)

12 Months Ended

Dec. 31, 2014

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Total debt as of December 31 consisted of the following:

(In millions)	December 31, 2014		December 31, 2013
7.500% debentures due 2015	$	48.7	$	48.7
Revolving credit facility due 2018	45.0		—
7.375% senior notes due 2020	316.6		316.6
5.250% senior notes due 2023	600.0		600.0
Other debt	13.5		23.6
Total debt	$	1,023.8	$	988.9
Less short-term and current portion of long-term debt	61.8		12.7
Total long-term debt, net of current portion	$	962.0	$	976.2

Schedule of Maturities of Long-term Debt

Aggregate maturities of debt for the next five years and thereafter are as follows:

(In millions)
2015	$	61.8
2016 & 2017	—
2018	45.1
2019	0.1
Thereafter	916.8
Aggregate maturities	$	1,023.8

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Leasing Arrangements (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Leases [Abstract]
Rent expense	$ 30.4	$ 24.5	$ 20.2
2015	25.6
2016	19.5
2017	12.7
2018	9.0
2019	7.2
Thereafter	14.5
Total	$ 88.5

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Income Taxes

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Income Taxes

Income from continuing operations, before income taxes is summarized below based on the geographic location of the operation to which such earnings are attributable. Certain foreign operations are branches of PolyOne and are, therefore, subject to United States as well as foreign income tax regulations. As a result, pre-tax income by location and the components of income tax expense by taxing jurisdiction are not directly related.

Income from continuing operations, before income taxes consists of the following:

(In millions)	2014		2013		2012
Domestic	$	54.1	$	105.2	$	46.2
Foreign	34.3		45.8		37.1
Income from continuing operations, before income taxes	$	88.4	$	151.0	$	83.3

A summary of income tax expense from continuing operations is as follows:

(In millions)	2014			2013			2012
Current:
Federal	$	(33.5	)	$	(17.4	)	$	(1.7	)
State	(3.1		)	(2.8		)	(0.9		)
Foreign	(19.8		)	(23.3		)	(14.7		)
Total current	$	(56.4	)	$	(43.5	)	$	(17.3	)
Deferred:
Federal	$	36.7		$	(12.9	)	$	(15.8	)
State	4.6			(1.8		)	0.1
Foreign	3.9			0.1			2.9
Total deferred	$	45.2		$	(14.6	)	$	(12.8	)
Total income tax expense	$	(11.2	)	$	(58.1	)	$	(30.1	)

Refer to Note 5,Discontinued Operations, for income tax expense allocated to discontinued operations.

Reconciliation of income taxes from continuing operations at the U.S. statutory rate of 35% to the consolidated effective tax rate is as follows:

(In millions)	2014			2013			2012
Income tax expense at 35% of income from continuing operations, before income taxes	$	(30.9	)	$	(52.8	)	$	(29.2	)
State tax, net of federal benefit	1.1			(3.9		)	(1.3		)
Differences in rates of foreign operations	5.4			(1.2		)	3.3
Changes in valuation allowances	(6.9		)	(3.1		)	(0.9		)
U.S. research and development credit	1.0			2.1			—
Tax benefits on certain foreign investments	13.4			—			—
Uncertain tax positions	(0.9		)	0.5			0.1
U.S. tax settlements	2.8			—			—
Domestic manufacturing deduction	2.2			1.5			—
Other, net	1.6			(1.2		)	(2.1		)
Income tax expense	$	(11.2	)	$	(58.1	)	$	(30.1	)

Components of our deferred tax liabilities and assets as of December 31, 2014 and 2013 were as follows:

(In millions)	2014			2013
Deferred tax liabilities:
Tax over book depreciation	$	(76.9	)	$	(87.1	)
Intangibles	(135.2		)	(132.4		)
Other, net	(9.1		)	(13.6		)
Total deferred tax liabilities	$	(221.2	)	$	(233.1	)
Deferred tax assets:
Pension and other post-retirement benefits	$	39.1		$	20.6
Employment costs	47.2			36.8
Environmental	46.5			49.3
Net operating loss carryforwards	42.0			38.0
Other, net	30.6			32.6
Total deferred tax assets	$	205.4		$	177.3
Valuation allowances	(23.6		)	(29.3		)
Net deferred tax liabilities	$	(39.4	)	$	(85.1	)

As of December 31, 2014, we have combined state net operating loss carryforwards of $223.4 million that expire at various dates from 2015 through 2033. Various foreign subsidiaries have net operating loss carryforwards totaling $108.5 million that expire at various dates from 2015 through 2033. We have provided valuation allowances of $21.5 million against certain foreign and state loss carryforwards.

No provision has been made for income taxes on undistributed earnings of consolidated non-U.S. subsidiaries of $281.7 million at December 31, 2014, because our intention is to reinvest indefinitely undistributed earnings of our foreign subsidiaries. It is not practicable to estimate the additional income taxes and applicable foreign withholding taxes that would be payable on the remittance of such undistributed earnings.

We made worldwide income tax payments of $70.0 million and received refunds of $4.2 million in 2014. We made worldwide income tax payments of $120.3 million and $30.8 million in 2013 and 2012, respectively, and received refunds of $2.9 million and $13.0 million in 2013 and 2012, respectively. The increase in income tax payments made in 2013 is primarily related to higher 2013 earnings and the gain recognized related to the divestiture of the Resin Business.

The Company records provisions for uncertain tax positions in accordance with ASC Topic 740, Income Taxes. A reconciliation of unrecognized tax benefits is as follows:

	Unrecognized Tax Benefits
(In millions)	2014			2013			2012
Balance as of January 1	$	15.2		$	14.5		$	15.1
Additions based on tax positions related to the current year	4.8			—			0.2
Additions for tax positions of prior years	0.1			—			—
Reductions for tax positions of prior years	(2.3		)	(0.9		)	(0.4		)
Balances related to acquired businesses	14.2			1.1			—
Settlements and other	(3.4		)	0.5			(0.4		)
Balance as of December 31	$	28.6		$	15.2		$	14.5

We recognize interest and penalties related to uncertain tax positions in the provision for income taxes. As of December 31, 2014 and 2013, we had $8.6 million and $3.0 million accrued for interest and penalties, respectively. The increase during 2014 is primarily associated with purchase accounting adjustments.

Although the timing and outcome of tax settlements are uncertain, it is reasonably possible that during the next 12 months a reduction in unrecognized tax benefits may occur up to $19.2 million based on the outcome of tax examinations and as a result of the expiration of various statues of limitations.

If all unrecognized tax benefits were recognized, the net impact on the provision for income tax expense would be $25.0 million.

The Company is currently being audited by multiple state and foreign taxing jurisdictions. We are no longer subject to U.S. federal income tax examinations for periods preceding 2010 and, with limited exceptions, for periods preceding 2007 for state and 2002 for foreign tax examinations.

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Leasing Arrangements (Tables)

12 Months Ended

Dec. 31, 2014

Leases [Abstract]

Schedule of Future Minimum Rental Payments for Operating Leases

Future minimum lease payments under non-cancelable operating leases with initial lease terms longer than one year as of December 31, 2014 are as follows (in millions):

(In millions)
2015	$	25.6
2016	19.5
2017	12.7
2018	9.0
2019	7.2
Thereafter	14.5
Total	$	88.5

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Weighted-Average Shares Used In Computing Earnings Per Share (Schedule Of Weighted-Average Shares Used In Computing Earnings Per Share) (Details) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Earnings Per Share [Abstract]
Weighted-average shares - basic:	92.3	95.5	89.1
Plus dilutive impact of stock options and stock awards	1.2	1.0	0.7
Weighted-average shares - diluted:	93.5	96.5	89.8

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Segment Information

12 Months Ended

Dec. 31, 2014

Segment Reporting [Abstract]

Segment Information

A segment is a component of an enterprise whose operating results are regularly reviewed by the enterprise’s chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance, and for which discrete financial information is available.

Operating income is the primary measure that is reported to our chief operating decision maker for purposes of allocating resources to the segments and assessing their performance. Operating income at the segment level does not include: corporate general and administrative expenses that are not allocated to segments; intersegment sales and profit eliminations; charges related to specific strategic initiatives such as the consolidation of operations; restructuring activities, including employee separation costs resulting from personnel reduction programs, plant closure and phase-in costs; executive separation agreements; share-based compensation costs; asset impairments; environmental remediation costs and other liabilities for facilities no longer owned or closed in prior years; gains and losses on the divestiture of joint ventures and equity investments; actuarial gains and losses associated with our pension and other post-retirement benefit plans; and certain other items that are not included in the measure of segment profit or loss that is reported to and reviewed by our chief operating decision maker. These costs are included in Corporate and eliminations.

Segment assets are primarily customer receivables, inventories, net property, plant and equipment, intangibles and goodwill. Intersegment sales are generally accounted for at prices that approximate those for similar transactions with unaffiliated customers. Corporate and eliminations assets and liabilities primarily include cash, debt, environmental liabilities, retained assets and liabilities of discontinued operations, and other unallocated corporate assets and liabilities. The accounting policies of each segment are consistent with those described in Note 1,Description of Business and Summary of Significant Accounting Policies.

The following is a description of each of our five reportable segments.

Global Color, Additives and Inks

Global Color, Additives and Inks is a leading provider of specialized custom color and additive concentrates in solid and liquid form for thermoplastics, dispersions for thermosets, as well as specialty inks, plastisols, and vinyl slush molding solutions. Color and additive solutions include an innovative array of colors, special effects and performance-enhancing and eco-friendly solutions. When combined with a non-base resin, our solutions help customers achieve differentiated specialized colors and effects targeted at the demands of today’s highly design-oriented consumer and industrial end markets. Our additive concentrates encompass a wide variety of performance and process enhancing characteristics and are commonly categorized by the function that they perform, such as UV stabilization, antimicrobial, anti-static, blowing or foaming, antioxidant, lubricant, and productivity enhancement. Our colorant and additives concentrates are used in a broad range of polymers, including those used in medical and pharmaceutical devices, food packaging, personal care and cosmetics, transportation, building products, wire and cable markets. We also provide custom-formulated liquid systems that meet a variety of customer needs and chemistries, including vinyl, natural rubber and latex, polyurethane and silicone. Our offering also includes proprietary inks and latexes for diversified markets such as recreational and athletic apparel, construction and filtration, outdoor furniture and healthcare. Our liquid polymer coatings and additives are largely based on vinyl and are used in a variety of markets, including building and construction, consumer, healthcare, industrial, packaging, textiles, appliances, transportation, and wire and cable. Global Color, Additives and Inks has manufacturing, sales and service facilities located throughout North America, South America, Europe, Asia and Africa.

On December 1, 2014, the Company completed the acquisition of specialty assets of Accella, a leading North American manufacturer of liquid polymer formulations, for $47.2 million in cash, net of cash acquired. Accella results are included within the Global Color, Additives and Inks segment.

Global Specialty Engineered Materials

Global Specialty Engineered Materials is a leading provider of specialty polymer formulations, services and solutions for designers, assemblers and processors of thermoplastic materials across a wide variety of markets and end-use applications. Our product portfolio, which we believe to be one of the most diverse in our industry, includes specialty formulated high-performance polymer materials that are manufactured using thermoplastic resins and elastomers, which are then combined with advanced polymer additives, reinforcement, filler, colorant and/or biomaterial technologies. Our technical and market expertise enables us to expand the performance range and structural properties of traditional engineering-grade thermoplastic resins to meet evolving customer needs. Global Specialty Engineered Materials has manufacturing, sales and service facilities located throughout North America, Europe, Asia and South America. Our product development and application reach is further enhanced by the capabilities of our Innovation Centers in the United States, Germany and China, which produce and evaluate prototype and sample parts to help assess end-use performance and guide product development. Our manufacturing capabilities are targeted at meeting our customers’ demand for speed, flexibility and critical quality.

Designed Structures and Solutions

On March 13, 2013, the Company completed the acquisition of Spartech, a supplier of plastic sheet, color and engineered materials, and packaging solutions. As a result of the acquisition, a new reportable segment, "Designed Structures and Solutions", was created. Designed Structures and Solutions is comprised of the former Spartech Custom Sheet and Rollstock and Packaging Technologies businesses. We believe PolyOne's Designed Structures and Solutions segment is a market leader in providing specialized, full service and innovative solutions in engineered polymer structures, rigid barrier packaging and specialty cast acrylics. We utilize a variety of polymers, specialty additives and processing technologies to produce a complete portfolio of sheet, custom rollstock and specialty film, laminate and acrylic solutions. Our solutions can be engineered to provide structural or functional performance in an application or deliver design and visual aesthetics to meet our customers’ needs. Our offerings also include a wide range of sustainable, cost-effective stock and custom packaging solutions for various industry processes used in the food, medical, consumer and graphic arts markets. In addition to packaging, we also work closely with customers to provide solutions for transportation, building and construction, healthcare and consumer markets. Designed Structures and Solutions has manufacturing, sales and service facilities located throughout North America.

Performance Products and Solutions

Performance Products and Solutions is comprised of the Geon Performance Materials (Geon) and Producer Services business units. The Geon business delivers an array of products and services for vinyl molding and extrusion processors located in North America and Asia. The Geon brand name carries strong recognition globally. Geon's products are sold to manufacturers of durable plastic parts and consumer-oriented products. We also offer a wide range of services including materials testing, component analysis, custom formulation development, colorant and additive services, part design assistance, structural analysis, process simulations, mold design and flow analysis and extruder screw design. Vinyl is used across a broad range of markets and applications, including, but not limited to: healthcare, wire and cable, building and construction, consumer and recreational products and transportation and packaging. The Producer Services business unit offers contract manufacturing and outsourced polymer manufacturing services to resin producers and polymer marketers, primarily in the United States and Mexico, as well as its own proprietary compounds for pressure pipe and drip irrigation applications. As a strategic and integrated supply chain partner, Producer Services offers resin producers a way to develop custom products for niche markets by using our process technology expertise and multiple manufacturing platforms.

PolyOne Distribution

The PolyOne Distribution business distributes more than 3,500 grades of engineering and commodity grade resins, including PolyOne-produced solutions, principally to the North American and Asian markets. These products are sold to over 6,000 custom injection molders and extruders who, in turn, convert them into plastic parts that are sold to end-users in a wide range of industries. Representing over 25 major suppliers, we offer our customers a broad product portfolio, just-in-time delivery from multiple stocking locations and local technical support. Recent expansion in Central America and Asia have bolstered PolyOne Distribution's ability to serve the specialized needs of customers globally.

Financial information by reportable segment is as follows:

Year Ended December 31, 2014 (In millions)	Sales to  External Customers		Intersegment Sales			Total Sales			Operating Income			Depreciation and Amortization		Capital Expenditures		Total Assets
Global Color, Additives and Inks	835.0		15.8			850.8			124.9			41.4		28.1		937.7
Global Specialty Engineered Materials	555.2		43.1			598.3			72.4			16.7		15.2		370.5
Designed Structures and Solutions	616.5		1.0			617.5			45.1			24.4		25.6		490.2
Performance Products and Solutions	728.2		88.4			816.6			63.1			17.7		15.2		265.5
PolyOne Distribution	1,100.6		13.8			1,114.4			68.2			0.6		0.1		214.2
Corporate and eliminations	—		(162.1		)	(162.1		)	(218.6		)	23.1		8.6		433.1
Total	$	3,835.5	$	—		$	3,835.5		$	155.1		$	123.9	$	92.8	$	2,711.2

Year Ended December 31, 2013 (In millions)	Sales to  External Customers		Intersegment Sales			Total Sales			Operating Income			Depreciation and Amortization(1)		Capital Expenditures (1a)		Total Assets
Global Color, Additives and Inks	844.6		7.7			852.3			104.0			38.8		29.3		962.0
Global Specialty Engineered Materials	571.9		43.6			615.5			57.2			18.8		14.3		379.6
Designed Structures and Solutions	597.3		0.1			597.4			33.4			21.2		13.4		549.4
Performance Products and Solutions	690.9		82.3			773.2			56.0			15.5		12.4		278.7
PolyOne Distribution	1,066.5		8.7			1,075.2			63.3			0.6		0.3		216.7
Corporate and eliminations	—		(142.4		)	(142.4		)	(82.4		)	13.9		6.5		557.7
Total	$	3,771.2	$	—		$	3,771.2		$	231.5		$	108.8	$	76.2	$	2,944.1

(1) Excludes $1.0 million of depreciation expense associated with the Resin Business.

(1a) Excludes $0.2 million of capital expenditures associated with the Resin Business.

Year Ended December 31, 2012 (In millions)	Sales to  External Customers		Intersegment Sales			Total Sales			Operating Income			Depreciation and Amortization (2)		Capital Expenditures (2a)		Total Assets
Global Color, Additives and Inks	776.1		2.1			778.2			75.3			32.9		28.2		901.7
Global Specialty Engineered Materials	504.9		38.7			543.6			47.0			14.3		12.9		396.6
Performance Products and Solutions	554.9		75.4			630.3			38.8			13.7		4.6		205.4
PolyOne Distribution	1,024.9		5.4			1,030.3			66.0			0.7		0.6		212.9
Corporate and eliminations	—		(121.6		)	(121.6		)	(89.6		)	4.2		8.5		411.4
Total	$	2,860.8	$	—		$	2,860.8		$	137.5		$	65.8	$	54.8	$	2,128.0

(2) Excludes $4.0 million of depreciation expense associated with the Resin Business.

(2a) Excludes $2.6 million of capital expenditures associated with the Resin Business.

Our sales are primarily to customers in the United States, Canada, Mexico, Europe, South America and Asia, and the majority of our assets are located in these same geographic areas. Following is a summary of sales and long-lived assets based on the geographic areas where the sales originated and where the assets are located:

(In millions)	2014		2013		2012
Sales:
United States	$	2,590.4	$	2,538.2	$	1,724.1
Europe	511.8		519.7		488.1
Canada	277.4		267.8		248.1
Asia	246.2		239.0		221.2
Mexico	178.4		158.1		141.8
South America	31.3		48.4		37.5
Total Sales	$	3,835.5	$	3,771.2	$	2,860.8
Long-lived assets:
United States	$	421.1	$	444.4	$	240.9
Europe	95.7		103.0		82.2
Canada	12.8		13.2		5.7
Asia	39.5		51.8		45.1
Mexico	19.7		20.5		3.5
South America	7.9		13.3		8.4
Total Long-lived assets	$	596.7	$	646.2	$	385.8

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Inventories (Components Of Inventories) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Inventory Disclosure [Abstract]
Finished products	$ 187.8	$ 203.6
Work in process	4.1	3.9
Raw materials and supplies	117.1	135.0
Inventories, net	$ 309.0	$ 342.5

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Consolidated Statements Of Cash Flows (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Operating activities
Net income	$ 78.4	$ 242.7	$ 71.8
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	123.9	109.8	69.8
Deferred income tax provision	(45.2)	12.9	13.4
Debt extinguishment costs	0	15.8	0
Provision for doubtful accounts	0.4	0.2	0.3
Stock compensation expense	14.2	16.5	10.4
Gain on sale of Business	(1.2)	(223.7)	0
Income related to previously owned equity affiliates	0	(26.9)	(23.4)
Changes in assets and liabilities, net of the effect of acquisitions and divestitures:
Decrease in accounts receivable	24.4	26.9	1.2
Decrease (increase) in inventories	28.4	20.4	(3.0)
(Decrease) increase in accounts payable	(15.2)	(16.6)	16.8
Increase (decrease) in pension and other post-retirement benefits	30.0	(124.5)	(41.7)
(Decrease) increase in accrued expenses and other assets and liabilities	(29.7)	55.5	(8.7)
Net cash provided by operating activities	208.4	109.0	106.9
Investing activities
Capital expenditures	(92.8)	(76.4)	(57.4)
Business acquisitions, net of cash acquired	(47.2)	(259.4)	(33.8)
Proceeds from sale of businesses and other assets	28.2	275.7	18.9
Net cash used by investing activities	(111.8)	(60.1)	(72.3)
Financing activities
Repayments of Long-term Debt	(8.0)	(343.3)	(3.0)
Premium on early extinguishment of long-term debt	0	(4.6)	0
Proceeds from Long-term Debt	0	600.0	0
Debt financing Costs	0	(13.0)	0
Borrowings under credit facilities	168.6	129.0	0.8
Repayments under credit facilities	(122.8)	(117.5)	0
Purchase of common shares for treasury	(233.2)	(131.6)	(15.9)
Exercise of stock awards	6.9	7.3	15.1
Cash dividends paid	(29.9)	(21.5)	(16.9)
Proceeds from noncontrolling interests	0	0	2.4
Net cash (used) provided by financing activities	(218.4)	104.8	(17.5)
Effect of exchange rate changes on cash	(4.8)	1.5	1.0
(Decrease) increase in cash and cash equivalents	(126.6)	155.2	18.1
Cash and cash equivalents at beginning of year	365.2	210.0	191.9
Cash and cash equivalents at end of year	$ 238.6	$ 365.2	$ 210.0

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Consolidated Statements of Comprehensive Income (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Statement of Comprehensive Income [Abstract]
Net income	$ 78.4	$ 242.7	$ 71.8
Other comprehensive loss:
Translation adjustments	(27.5)	(3.7)	1.1
Amortization of prior service credits, net of tax of $6.5 - 2012	0	0	(10.9)
Total other comprehensive loss	(27.5)	(3.7)	(9.8)
Total comprehensive income	50.9	239.0	62.0
Comprehensive loss attributable to noncontrolling interests	0.8	1.1	0.1
Comprehensive income attributable to PolyOne common shareholders	$ 51.7	$ 240.1	$ 62.1

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Inventories

12 Months Ended

Dec. 31, 2014

Inventory Disclosure [Abstract]

Inventories

Components of Inventories, net are as follows:

(In millions)	December 31, 2014		December 31, 2013
Finished products	$	187.8	$	203.6
Work in process	4.1		3.9
Raw materials and supplies	117.1		135.0
Inventories, net	$	309.0	$	342.5

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Fair Value (Narrative) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Fair Value Disclosures [Abstract]
Short-term and Long-term Debt, Fair Value	$ 1,045.4	$ 1,010.3
Debt carrying value	$ 1,023.8	$ 988.9

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Share-Based Compensation (Summary Of Assumptions Related To Grants) (Details) (Stock appreciation rights, USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Stock appreciation rights
Share-Based Compensation Arrangement By Share-based Payment Award [Line Items]
Expected volatility (weighted-average)	48.00%	50.00%	53.00%
Expected dividends	0.91%	1.04%	1.37%
Expected term (in years)	6 years 4 months 24 days	7 years 4 months 24 days	8 years
Risk-free rate	2.94%	2.12%	2.05%
Value of SARs granted	$ 14.05	$ 10.83	$ 6.92

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Share-Based Compensation (Narrative) (Details) (USD $) In Millions, except Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	May 19, 2012
Share-Based Compensation Arrangement By Share-based Payment Award [Line Items]
Shares reserved for grant				5,000,000
Stock appreciation rights
Share-Based Compensation Arrangement By Share-based Payment Award [Line Items]
SARs granted	300,000	500,000	800,000
Vesting period	3 years	3 years	3 years
SARs granted appreciation cap percentage	200.00%
Forfeitures percentage	3.00%	3.00%	3.00%
Intrinsic value of SARS exercised	$ 15.0	$ 14.9	$ 25.5
Unrecognized compensation cost	2.1
Weighted-average remaining contractual term	15
Nonvested, balance	1,600,000	2,100,000
Weighted-average grant date fair value	$ 20.13	$ 16.63
Stock appreciation rights | Maximum
Share-Based Compensation Arrangement By Share-based Payment Award [Line Items]
Stock awards expiration	10 years
Stock appreciation rights | Minimum
Share-Based Compensation Arrangement By Share-based Payment Award [Line Items]
Stock awards expiration	7 years
Restricted stock units
Share-Based Compensation Arrangement By Share-based Payment Award [Line Items]
Unrecognized compensation cost	$ 6.1
Weighted-average remaining contractual term	12
SAR Granted	200,000	500,000	600,000
Nonvested, balance	1,000,000
Weighted-average grant date fair value	$ 23.49
Vests Rateably over 3 Years | Stock Options
Share-Based Compensation Arrangement By Share-based Payment Award [Line Items]
Award vesting percentage	33.33%

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Document And Entity Information (USD $)	12 Months Ended
	Dec. 31, 2014	Jan. 31, 2015	Jun. 30, 2014
Document And Entity Information [Abstract]
Entity Registrant Name	POLYONE CORP
Entity Central Index Key	0001122976
Document Type	10-K
Document Period End Date	Dec. 31, 2014
Amendment Flag	false
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	Yes
Entity Public Float			$ 3,726,683,516
Entity Common Stock, Shares Outstanding		89,100,439

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Property

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

Property

Components of Property, net are as follows:

(In millions)	December 31, 2014			December 31, 2013
Land and land improvements	$	49.2		$	52.5
Buildings	309.2			315.4
Machinery and equipment	1,077.2			1,079.2
	1,435.6			1,447.1
Less accumulated depreciation and amortization	(838.9		)	(800.9		)
Property, net	$	596.7		$	646.2

Depreciation expense from continuing operations was $104.7 million in 2014, $91.0 million in 2013 and $52.6 million in 2012. Included in depreciation expense from continuing operations was accelerated depreciation of $23.1 million and $12.7 million during 2014 and 2013, respectively, related to announced restructuring actions.

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Employee Benefit Plans (Estimated Future Benefit Payments) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
2015	$ 50.0
2016	39.5
2017	39.0
2018	39.1
2019	38.6
2020 through 2024	186.3
Health Care Benefits
Defined Benefit Plan Disclosure [Line Items]
2015	1.6
2016	1.6
2017	1.5
2018	1.5
2019	1.4
2020 through 2024	$ 6.0

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Income Taxes (Changes In Unrecognized Tax Benefits) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance as of January 1	$ 15.2	$ 14.5	$ 15.1
Additions based on tax positions related to the current year	4.8	0	0.2
Additions for tax positions of prior years	0.1	0	0
Reductions for tax positions of prior years	(2.3)	(0.9)	(0.4)
Balances related to acquired businessess	14.2	1.1	0
Settlements and other	(3.4)		(0.4)
Settlements and other		0.5
Balance as of December 31	$ 28.6	$ 15.2	$ 14.5

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Consolidated Statements of Comprehensive Income (parenthetical) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Statement of Comprehensive Income [Abstract]
Amortization of prior service costs tax	$ 0	$ 0	$ 6.5

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Employee Separation and Restructuring Costs

12 Months Ended

Dec. 31, 2014

Restructuring and Related Activities [Abstract]

Employee Separation and Restructuring Costs

Note 4 — EMPLOYEE SEPARATION AND RESTRUCTURING COSTS

In 2013, PolyOne determined it would close seven former Spartech manufacturing facilities and one administrative office and relocate production to other PolyOne facilities. The manufacturing facilities’ closings are part of the Company’s ongoing integration of Spartech, which are designed to enable the Company to better serve customers, improve efficiency, and deliver a portion of the anticipated synergy-related cost savings in connection with the Spartech acquisition. In addition to these actions, PolyOne incurred severance costs related to former Spartech executives and other employees, as well as fixed asset-related charges and other ongoing costs associated with restructuring actions that were underway prior to PolyOne's acquisition of Spartech. We also incurred costs associated with further asset rationalization at Spartech locations that were not part of the above actions.

The Company has incurred $103.8 million of charges in connection with the Spartech actions noted above. These costs include $26.2 million of severance, $40.9 million of asset-related charges, including accelerated depreciation, and $36.7 million of other ongoing costs. We expect to incur an additional $15.0 million of costs related to these actions, primarily in the first half of 2015.

The table below summarizes restructuring activity related to Spartech since the date of acquisition.

(In millions)	Long-Lived Asset Charges			Employee Separation			Other Ongoing Costs			Total
Accrual balance at December 31, 2012	$	—		$	—		$	—		$	—
Charged to expense	13.6			21.1			9.4			44.1
Cash payments	—			(6.0		)	(9.4		)	(15.4		)
Non-cash utilization	(13.6		)	—			—			(13.6		)
Accrual balance at December 31, 2013	$	—		$	15.1		$	—		$	15.1
Charged to expense	27.3			5.1			27.3			59.7
Cash payments	—			(17.5		)	(27.3		)	(44.8		)
Non-cash utilization	(27.3		)	—			—			(27.3		)
Accrual balance at December 31, 2014	$	—		$	2.7		$	—		$	2.7

In June 2014, PolyOne determined it would close its Diadema and Joinville, Brazil facilities that were acquired in 2011 with the acquisition of Uniplen Industria de Polimeros Ltda. These actions are expected to accelerate our specialty strategy in Brazil, streamline operations and improve our financial performance in the region. The table below summarizes restructuring activity related to Brazil since the date of closure. We do not expect the remaining charges related to these actions to have a material impact to our financial statements going forward.

(In millions)	Asset Charges			Employee Separation			Other Ongoing Costs			Total
Accrual balance at December 31, 2013	$	—		$	—		$	—		$	—
Charged to expense	10.7			2.9			3.4			17.0
Cash payments	—			(1.8		)	(3.4		)	(5.2		)
Non-cash utilization	(10.7		)	—			—			(10.7		)
Accrual balance at December 31, 2014	$	—		$	1.1		$	—		$	1.1

In addition to the Spartech and Brazil actions noted above, during 2014, we recognized $17.4 million of employee separation and restructuring costs primarily in Europe related to the closure of our Bendorf, Germany manufacturing plant along with other reductions in force across Europe. These costs principally related to severance, which are recognized within selling and administrative expense. We do not expect the remaining charges related to these actions to have a material impact to our financial statements going forward.

In 2014, we recognized total employee separation and restructuring charges of $94.1 million, which included $54.0 million recognized within Cost of goods sold and $40.1 million recognized in Selling and administrative expenses. In 2013, we recognized total employee separation and restructuring charges of $52.0 million, which included $16.1 million recognized within Cost of goods sold and $35.9 million recognized in Selling and administrative expenses.

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Goodwill And Intangible Assets

12 Months Ended

Dec. 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill And Intangible Assets

The total purchase price associated with acquisitions is allocated to the fair value of assets acquired and liabilities assumed based on their fair values at the acquisition date, with excess amounts recorded as goodwill.

Goodwill as of December 31, 2014 and 2013, and changes in the carrying amount of goodwill by segment were as follows:

(In millions)	Global Specialty Engineered Materials			Global Color, Additives and Inks			Designed Structures and Solutions		Performance Products and Solutions			PolyOne Distribution		Total
Goodwill, gross at January 1, 2013	$	110.8		$	314.0		$	—	$	182.4		$	1.6	$	608.8
Accumulated impairment losses	(12.2		)	(16.1		)	—		(175.0		)	—		(203.3		)
Goodwill, net at January 1, 2013	98.6			297.9			—		7.4			1.6		405.5
Acquisitions of businesses	1.8			12.4			136.3		3.6			—		154.1
Currency translation	(0.5		)	(0.1		)	—		—			—		(0.6		)
Balance at December 31, 2013	99.9			310.2			136.3		11.0			1.6		559.0
Acquisitions of businesses	—			23.5			8.4		0.2			—		32.1
Currency translation	(0.5		)	—			—		—			—		(0.5		)
Balance at December 31, 2014	$	99.4		$	333.7		$	144.7	$	11.2		$	1.6	$	590.6

At December 31, 2014, PolyOne had $99.7 million of indefinite-lived other intangible assets that are not subject to amortization, consisting of a trade name of $33.2 million acquired as part of the 2008 acquisition of GLS Corporation (GLS), trade names of $63.1 million acquired as part of the acquisition of ColorMatrix and $3.4 million of in-process research and development (IPR&D) acquired as part of the ColorMatrix acquisition. Acquired IPR&D is accounted for as an indefinite-lived intangible asset until the project is complete. Upon completion, projects are reclassified to technology and amortized over their useful lives. IPR&D consists of one project that we expect to complete during 2015.

Indefinite and finite-lived intangible assets consisted of the following:

	As of December 31, 2014
(In millions)	Acquisition Cost		Accumulated Amortization			Currency Translation			Impairment			Net
Customer relationships	$	199.4	$	(32.6	)	$	—		$	(1.3	)	$	165.5
Patents, technology and other	133.4		(35.3		)	(0.1		)	(0.5		)	97.5
Indefinite-lived trade names	96.3		—			—			—			96.3
In-process research and development	3.4		—			—			—			3.4
Total	$	432.5	$	(67.9	)	$	(0.1	)	$	(1.8	)	$	362.7

	As of December 31, 2013
(In millions)	Acquisition Cost		Accumulated Amortization			Currency Translation		Net
Customer relationships	$	181.5	$	(24.1	)	$	0.1	$	157.5
Patents, technology and other	134.3		(25.8		)	0.1		108.6
Indefinite-lived trade names	96.3		—			—		96.3
In-process research and development	3.4		—			—		3.4
Total	$	415.5	$	(49.9	)	$	0.2	$	365.8

Amortization of other finite-lived intangible assets for the years ended December 31, 2014, 2013 and 2012 was $19.2 million, $17.8 million and $13.2 million, respectively.

As of December 31, 2014, we expect amortization expense on finite-lived intangibles for the next five years as follows:

	2015	2016	2017	2018	2019
Expected amortization	$20.0	$20.1	$20.1	$20.1	$20.0

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Share-Based Compensation

12 Months Ended

Dec. 31, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-Based Compensation

SHARE-BASED COMPENSATION

Share-based compensation cost is based on the value of the portion of share-based payment awards that are ultimately expected to vest during the period. Share-based compensation cost recognized in the accompanying Consolidated Statements of Income includes compensation cost for share-based payment awards based on the grant date fair value estimated in accordance with the provision of FASB ASC Topic 718, Compensation — Stock Compensation. Share-based compensation expense is based on awards expected to vest and therefore has been reduced for estimated forfeitures. We estimate forfeitures at the time of grant and revise that estimate, if necessary, in subsequent periods if actual forfeitures differ from those estimates.

Equity and Performance Incentive Plans

The PolyOne Corporation 2010 Equity and Performance Incentive Plan (2010 EPIP), as amended in 2012, reserved 5.0 million common shares for the award of a variety of share-based compensation alternatives, including non-qualified stock options, incentive stock options, restricted stock, restricted stock units (RSUs), performance shares, performance units and stock appreciation rights (SARs). It is anticipated that all share-based grants and awards that are earned and exercised will be issued from PolyOne common shares that are held in treasury.

Share-based compensation is included in Selling and administrative expense in the accompanying Consolidated Statements of Income. A summary of compensation expense by type of award follows:

(In millions)	2014		2013		2012
Stock appreciation rights	$	5.5	$	6.1	$	5.1
Performance shares	0.7		0.3		—
Restricted stock units	8.0		10.1		5.3
Total share-based compensation	$	14.2	$	16.5	$	10.4

Stock Appreciation Rights

During the years ended December 31, 2014, 2013 and 2012, the total number of SARs granted were 0.3 million, 0.5 million and 0.8 million, respectively. Awards vest in one-third increments upon the later of the attainment of stock price targets and time-based vesting over a three-year service period. Awards granted in 2014 are subject to an appreciation cap of 200% of the base price. Outstanding SARs have contractual terms ranging from seven to ten years from the date of the grant.

The SARs were valued using a Monte Carlo simulation method as the vesting is dependent on the achievement of certain stock price targets. The SARs have time and market-based vesting conditions but vest no earlier than their three year graded vesting schedule. The below expected term assumption for fiscal 2014 is an output from the Monte Carlo model, and are derived from employee exercise assumptions that are based on PolyOne historical exercise experience. The expected volatility was determined based on the average weekly volatility for our common shares for the contractual life of the awards. The expected dividend assumption was determined based upon PolyOne's dividend yield at the time of grant. The risk-free rate of return was based on available yields on U.S. Treasury bills of the same duration as the contractual life of the awards. Forfeitures were estimated at 3% per year based on our historical experience.

The following is a summary of the weighted average assumptions related to the grants issued during 2014, 2013 and 2012:

	2014	2013	2012
Expected volatility (weighted-average)	48.0%	50.0%	53.0%
Expected dividends	0.91%	1.04%	1.37%
Expected term (in years)	6.4	7.4	8.0
Risk-free rate	2.94%	2.12%	2.05%
Value of SARs granted	$14.05	$10.83	$6.92

A summary of SAR activity for 2014 is presented below:

Stock Appreciation Rights In millions, except per share data)	Shares		Weighted-Average Exercise Price Per Share		Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding as of January 1, 2014	2.1		$	16.63	6.33	$	39.3
Granted	0.3		35.19		—
Exercised	(0.7	)	15.55		—
Forfeited or expired	(0.1	)	32.00		—
Outstanding as of December 31, 2014	1.6		$	20.13	6.63	$	28.9
Vested and exercisable as of December 31, 2014	0.8		$	14.81	5.02	$	19.0

The total intrinsic value of SARs exercised during 2014, 2013 and 2012 was $15.0 million, $14.9 million and $25.5 million, respectively. As of December 31, 2014, there was $2.1 million of total unrecognized compensation cost related to SARs, which is expected to be recognized over the weighted average remaining vesting period of 15 months.

Restricted Stock Units

Restricted stock units (RSUs) represent contingent rights to receive one common share at a future date provided certain vesting criteria are met.

During 2014, 2013 and 2012, the total number of RSUs granted were 0.2 million, 0.5 million and 0.6 million, respectively. These RSUs, which vest on the third anniversary of the grant date, were granted to executives and other key employees. Compensation expense is measured on the grant date using the quoted market price of our common shares and is recognized on a straight-line basis over the requisite service period.

As of December 31, 2014, 1.0 million RSUs remain unvested with a weighted-average grant date fair value of $23.49. Unrecognized compensation cost for RSUs at December 31, 2014 was $6.1 million, which is expected to be recognized over the weighted average remaining vesting period of 12 months.

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Other Balance Sheet Liabilities

12 Months Ended

Dec. 31, 2014

Other Liabilities Disclosure [Abstract]

Other Balance Sheet Liabilities

Other liabilities at December 31, 2014 and 2013 consist of the following:

	Accrued expenses and other liabilities				Other non-current liabilities
	December 31,				December 31,
(In millions)	2014		2013		2014		2013
Employment costs	$	112.2	$	128.7	$	23.4	$	19.1
Environmental liabilities	11.5		12.0		109.6		113.9
Accrued taxes	10.3		34.7		—		—
Pension and other post-employment benefits	5.7		5.7		—		—
Accrued interest	16.1		16.2		—		—
Dividends payable	8.8		7.6		—		—
Unrecognized tax benefits	2.1		0.1		26.0		18.1
Other	6.8		4.3		19.3		18.3
Total	$	173.5	$	209.3	$	178.3	$	169.4

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Commitments And Contingencies (Guarantees) (Details) (SunBelt, USD $) In Millions, unless otherwise specified	1 Months Ended
	Feb. 28, 2011	Dec. 31, 2014
SunBelt
Commitments And Related-Party Information [Line Items]
Percentage of equity interest sold	50.00%
Cash received from equity interest sold	$ 132.3
Aggregate principal amount of senior secured notes	42.7
Aggregate principal amount of senior secured notes		$ 18.3

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Leasing Arrangements

12 Months Ended

Dec. 31, 2014

Leases [Abstract]

Leasing Arrangements

We lease certain manufacturing facilities, warehouse space, machinery and equipment, automobiles, railcars, computers and software under operating leases. Rent expense from continuing operations was $30.4 million in 2014, $24.5 million in 2013 and $20.2 million in 2012.

Future minimum lease payments under non-cancelable operating leases with initial lease terms longer than one year as of December 31, 2014 are as follows (in millions):

(In millions)
2015	$	25.6
2016	19.5
2017	12.7
2018	9.0
2019	7.2
Thereafter	14.5
Total	$	88.5

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Employee Separation and Restructuring Costs Employee Separation and Restructuring Costs (Details) (USD $) In Millions, unless otherwise specified	6 Months Ended	12 Months Ended		24 Months Ended
	Jun. 30, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2012
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 94.1	$ 52.0
Spartech [Member]
Restructuring Cost and Reserve [Line Items]
Other Restructuring Costs				36.7
Restructuring Reserve, Accrual Adjustment		2.7	15.1	2.7	0
Restructuring and Related Cost, Expected Cost	15.0
Restructuring charges		59.7	44.1	103.8
Payments for Restructuring		(44.8)	(15.4)
Restructuring Reserve, Settled without Cash		(27.3)	(13.6)
Severance Costs				26.2
Brazil [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Accrual Adjustment		1.1	0	1.1
Restructuring charges		17.0
Payments for Restructuring		(5.2)
Restructuring Reserve, Settled without Cash		(10.7)
Europe
Restructuring Cost and Reserve [Line Items]
Restructuring charges		17.4
Cost of Sales [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		54.0	16.1
Selling and administrative expense
Restructuring Cost and Reserve [Line Items]
Restructuring charges		40.1	35.9
Assets [Member] | Spartech [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Accrual Adjustment		0	0	0	0
Restructuring charges		27.3	13.6	40.9
Payments for Restructuring		0	0
Restructuring Reserve, Settled without Cash		(27.3)	(13.6)
Assets [Member] | Brazil [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Accrual Adjustment		0	0	0
Restructuring charges		10.7
Payments for Restructuring		0
Restructuring Reserve, Settled without Cash		(10.7)
Employee Severance [Member] | Spartech [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Accrual Adjustment		2.7	15.1	2.7	0
Restructuring charges		5.1	21.1
Payments for Restructuring		(17.5)	(6.0)
Restructuring Reserve, Settled without Cash		0	0
Employee Severance [Member] | Brazil [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Accrual Adjustment		1.1	0	1.1
Restructuring charges		2.9
Payments for Restructuring		(1.8)
Restructuring Reserve, Settled without Cash		0
Other Restructuring [Member] | Spartech [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Accrual Adjustment		0	0	0	0
Restructuring charges		27.3	9.4
Payments for Restructuring		(27.3)	(9.4)
Restructuring Reserve, Settled without Cash		0	0
Other Restructuring [Member] | Brazil [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Accrual Adjustment		0	0	0
Restructuring charges		3.4
Payments for Restructuring		(3.4)
Restructuring Reserve, Settled without Cash		$ 0

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Discontinued Operations (Notes)

12 Months Ended

Dec. 31, 2014

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

DISCONTINUED OPERATIONS

On May 30, 2013, PolyOne sold its Resin Business to Mexichem Specialty Resins Inc. for $250.0 million cash consideration. This sale resulted in the recognition of a pre-tax gain of $223.7 million ($139.7 million, net of tax).

PolyOne has classified the Resin Business operating results as a discontinued operation in the accompanying Consolidated Statements of Income for all periods presented.

The Resin Business' sales, income before income taxes and net income were as follows:

	Year Ended December 31,
(In millions)	2014		2013*			2012
Sales	$	—	$	55.3		$	131.8
Gain on sale	$	—	$	223.7		$	—
Income from operations	—		12.2			29.7
Income before taxes	—		235.9			29.7
Income tax benefit (expense)	1.2		(86.1		)	(11.1		)
Income from discontinued operations, net of income taxes	$	1.2	$	149.8		$	18.6

* Includes the Resin Business' operating results through May 29, 2013.

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Financing Arrangements

12 Months Ended

Dec. 31, 2014

Debt Disclosure [Abstract]

Financing Arrangements

Total debt as of December 31 consisted of the following:

(In millions)	December 31, 2014		December 31, 2013
7.500% debentures due 2015	$	48.7	$	48.7
Revolving credit facility due 2018	45.0		—
7.375% senior notes due 2020	316.6		316.6
5.250% senior notes due 2023	600.0		600.0
Other debt	13.5		23.6
Total debt	$	1,023.8	$	988.9
Less short-term and current portion of long-term debt	61.8		12.7
Total long-term debt, net of current portion	$	962.0	$	976.2

During the first quarter of 2014, we repaid an $8.0 million industrial revenue bond that was assumed as a result of the Spartech acquisition.

In 2013, we repurchased $43.4 million aggregate principal amount of our 7.375% senior notes due 2020, $1.3 million aggregate principal amount of our 7.50% debentures due 2015 and $1.6 million of other debt. Additionally, we recognized $5.2 million of debt extinguishment costs within Debt extinguishment costs in our Consolidated Statements of Income in connection with these repurchases.

On February 28, 2013, PolyOne issued $600.0 million aggregate principal amount of senior notes, which mature on March 15, 2023. The senior notes bear an interest rate of 5.25% per year, payable semi-annually, in arrears, on March 15 and September 15 of each year, which commenced on September 15, 2013. We used a portion of the net proceeds of the offering to pay the cash portion of the Spartech acquisition, and to repay certain Spartech debt, including the $88.9 million aggregate principal amount of its senior notes due 2016 and related interest and make-whole payments totaling $13.4 million and all outstanding amounts under its revolving credit facility. We also used a portion of these net proceeds to make a voluntary $50.0 million contribution to our U.S. qualified defined benefit plan and to repay the outstanding principal amount of $297.0 million under our senior secured term loan. We incurred debt extinguishment costs of $10.6 million related to the early retirement of our senior secured term loan, including $8.2 million of deferred financing cost write-offs and $2.4 million of discounts that were written off. These costs are presented within Debt extinguishment costs in our Consolidated Statements of Income.

On March 1, 2013, the agreement, dated December 21, 2011, governing our $300.0 millionfive-year senior secured revolving credit facility was amended and restated. The amendment and restatement resulted in an increase in commitments of $100.0 million for a maximum borrowing facility size of $400.0 million, subject to a borrowing base with advances against certain U.S. and Canadian accounts receivable and inventory. We have the option to increase the availability under the facility to $450.0 million, subject to meeting certain requirements and obtaining commitments for such increase. In connection with the amendment and restatement, we also extended the maturity date to March 1, 2018. As of December 31, 2014, we were in compliance with all covenants and there were $45.0 million of outstanding borrowings under our asset-backed revolving credit facility, which had remaining availability of $233.7 million.

The Company maintains a credit line with Saudi Hollandi Bank for $16.0 million, with an interest rate equal to the Saudi Arabia Interbank Offered Rate plus a fixed rate of 0.85%. The credit line is being used to fund capital expenditures related to the manufacturing facility in Jeddah, Saudi Arabia and is subject to an annual renewal. As of December 31, 2014, letters of credit under the credit line were $0.2 million and borrowings were $13.1 million with an interest rate of 1.85%. As of December 31, 2013, letters of credit under the credit line were $0.3 million and borrowings were $12.3 million with an interest rate of 1.85%. As of December 31, 2014 and 2013, there was remaining availability on the credit line of $2.7 million and $3.4 million, respectively.

During 2013, we incurred $13.0 million in debt financing related fees. These costs are included in Other current and Other non-current assets and are being amortized over the life of their respective agreements.

Aggregate maturities of debt for the next five years and thereafter are as follows:

(In millions)
2015	$	61.8
2016 & 2017	—
2018	45.1
2019	0.1
Thereafter	916.8
Aggregate maturities	$	1,023.8

Included in Interest expense, net for the years ended December 31, 2014, 2013 and 2012 was interest income of $1.1 million, $1.3 million and $0.8 million, respectively. Total interest paid on debt was $59.8 million in 2014, $50.4 million in 2013 and $45.8 million in 2012.

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Accounts Receivable

12 Months Ended

Dec. 31, 2014

Receivables [Abstract]

Accounts Receivable

Accounts receivable, net as of December 31 consist of the following:

(In millions)	2014			2013
Trade accounts receivable	$	399.9		$	433.2
Allowance for doubtful accounts	(3.1		)	(5.2		)
Accounts receivable, net	$	396.8		$	428.0

The following table details the changes in allowance for doubtful accounts:

(In millions)	2014			2013			2012
Balance at beginning of the year	$	(5.2	)	$	(4.3	)	$	(4.8	)
Provision for doubtful accounts	(0.4		)	(0.2		)	(0.3		)
Accounts written off	2.2			0.2			0.4
Currency translation and other adjustments	0.3			(0.9		)	0.4
Balance at end of year	$	(3.1	)	$	(5.2	)	$	(4.3	)

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Long-Term Debt Maturity Schedule (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014
Debt Disclosure [Abstract]
2015	$ 61.8
2016 & 2017	0
2018	45.1
2019	0.1
Thereafter	916.8
Aggregate maturities	$ 1,023.8

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Income Taxes (Narrative) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Taxes [Line Items]
Federal tax rate		35.00%
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued		$ 8.6	$ 3.0
Income Tax Expense (Benefit), Continuing Operations		11.2	58.1	30.1
Undistributed earnings of non-United States subsidiaries		281.7
Income tax payments		70.0	120.3	30.8
Income tax refunds		4.2	2.9	13.0
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations	19.2
Additions based on tax positions related to the current year		25.0
Combined State
Income Taxes [Line Items]
Net operating loss carryforwards		223.4
Foreign Subsidiaries
Income Taxes [Line Items]
Net operating loss carryforwards		108.5
Domestic and Foreign Tax Authority [Member]
Income Taxes [Line Items]
Valuation allowances against these loss carryforwards		$ 21.5

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Accounts Receivable (Components Of Accounts Receivable) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Receivables [Abstract]
Trade accounts receivable	$ 399.9	$ 433.2
Allowance for doubtful accounts	(3.1)	(5.2)	(4.3)	(4.8)
Accounts receivable, net	$ 396.8	$ 428.0

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Fair Value (Carrying Amounts And Fair Values of Financial Instruments) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents, at Carrying Value	$ 238.6	$ 365.2	$ 210.0	$ 191.9
Quoted Prices in Active Markets (Level 1)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents, at Carrying Value	238.6	365.2
Significant Other Observable Inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	0
Significant Unobservable Inputs (Level 3)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	$ 0

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Financing Arrangements (Components Of Long-Term Debt) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Debt Instrument [Line Items]
Total debt	$ 1,023.8	$ 988.9
Less short-term and current portion of long-term debt	61.8	12.7
Total long-term debt, net of current portion	962.0	976.2
Other Debt
Debt Instrument [Line Items]
Total before unamortized discount	13.5	23.6
7.500% debentures due 2015 | Senior Notes
Debt Instrument [Line Items]
Total before unamortized discount		48.7
Stated interest rate		7.50%
5.250% senior notes due 2023 | Senior Notes
Debt Instrument [Line Items]
Total before unamortized discount	600.0	600.0
Stated interest rate	5.25%	5.25%
Revolving credit facility due 2018 | Line of Credit [Member]
Debt Instrument [Line Items]
Total before unamortized discount	45.0	0
7.375% senior notes due 2020 | Senior Notes
Debt Instrument [Line Items]
Total before unamortized discount	316.6	316.6
Stated interest rate	7.375%	7.375%
Senior Notes | 7.500% debentures due 2015
Debt Instrument [Line Items]
Short-term Debt	$ 48.7
Stated interest rate	7.50%

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Share-Based Compensation (Summary Of Compensation Expense) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Share-Based Compensation Arrangement By Share-based Payment Award [Line Items]
Share-based compensation	$ 14.2	$ 16.5	$ 10.4
Stock appreciation rights
Share-Based Compensation Arrangement By Share-based Payment Award [Line Items]
Share-based compensation	5.5	6.1	5.1
Performance Shares [Member]
Share-Based Compensation Arrangement By Share-based Payment Award [Line Items]
Share-based compensation	0.7	0.3	0
Restricted stock units
Share-Based Compensation Arrangement By Share-based Payment Award [Line Items]
Share-based compensation	$ 8.0	$ 10.1	$ 5.3

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Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2014

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures

The Resin Business' sales, income before income taxes and net income were as follows:

	Year Ended December 31,
(In millions)	2014		2013*			2012
Sales	$	—	$	55.3		$	131.8
Gain on sale	$	—	$	223.7		$	—
Income from operations	—		12.2			29.7
Income before taxes	—		235.9			29.7
Income tax benefit (expense)	1.2		(86.1		)	(11.1		)
Income from discontinued operations, net of income taxes	$	1.2	$	149.8		$	18.6

* Includes the Resin Business' operating results through May 29, 2013.

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Description Of Business And Summary Of Significant Accounting Policies (Accumulated Other Comprehensive Loss) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Changes in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Cumulative Translation Adjustment, balance at beginning of period	$ (20.2)	$ (16.5)	$ (17.6)
Translation adjustments	(27.5)	(3.7)	1.1
Cumulative Translation Adjustment, balance at end of period	(47.7)	(20.2)	(16.5)
Pension and other post-retirement benefits, Balance at beginning of period	5.2	5.2	16.1
Amortization of prior service credits, net of tax of $6.5 - 2012	0	0	(10.9)
Pension and other post-retirement benefits, Balance at end of period	5.2	5.2	5.2
Unrealized gain in available-for-sale securities, Balance at beginning of period	0.2	0.2	0.2
Unrealized gain in available-for-sale securities, Balance at end of period	0.2	0.2	0.2
Total, Balance at beginning of period	(14.8)	(11.1)	(1.3)
Total, Balance at end of period	(42.3)	(14.8)	(11.1)
Amortization of prior service costs tax	$ 0	$ 0	$ 6.5

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Commitments And Contingencies

12 Months Ended

Dec. 31, 2014

Commitments and Contingencies Disclosure [Abstract]

Commitments And Contingencies

Environmental — We or our subsidiaries have been notified by federal and state environmental agencies and by private parties that we may be a potentially responsible party (PRP) in connection with the investigation and remediation of certain environmental sites. While government agencies frequently assert that PRPs are jointly and severally liable at these sites, in our experience, the interim and final allocations of liability costs are generally made based on the relative contribution of waste. We initiate corrective and preventive environmental projects of our own to ensure safe and lawful activities at our operations. We believe that compliance with current governmental regulations at all levels will not have a material adverse effect on our financial condition.

In September 2007, we were informed of rulings by the United States District Court for the Western District of Kentucky on several pending motions in the case of Westlake Vinyls, Inc. v. Goodrich Corporation, et al., which had been pending since 2003. The Court held that PolyOne must pay the remediation costs at the former Goodrich Corporation (now Westlake Vinyls, Inc.) Calvert City facility, together with certain defense costs of Goodrich Corporation. The rulings also provided that PolyOne can seek indemnification for contamination attributable to Westlake Vinyls.

The environmental obligation at the site arose as a result of an agreement between The B.F.Goodrich Company (n/k/a Goodrich Corporation) and our predecessor, The Geon Company, at the time of the initial public offering in 1993, by which the Geon Company became a public company, to indemnify Goodrich Corporation for environmental costs at the site. At the time, neither PolyOne nor The Geon Company ever owned or operated the facility. Following the Court rulings, the parties to the litigation entered into settlement negotiations and agreed to settle all claims regarding past environmental costs incurred at the site. The settlement agreement provides a mechanism to pursue allocations of future remediation costs at the Calvert City site to Westlake Vinyls, Inc. While we do not currently assume any allocation of costs in our current reserve, we will adjust our reserve, in the future, consistent with any such future allocation of costs.

A remedial investigation and feasibility study (RIFS) is underway at Calvert City. During the third quarter of 2013, we submitted a remedial investigation report to the United States Environmental Protection Agency (USEPA). The USEPA has required certain changes to the remedial investigation report, and development of a final report by the USEPA is ongoing. Further, we have undertaken steps to develop a feasibility study, including engaging a third party to perform ground water modeling at this site. Utilizing the preliminary results of this study, we were able to develop estimates for potential remedies at Calvert City. Based upon this information, in the fourth quarter of 2013, we adjusted our reserve by $47.0 million to reflect our best estimate of future costs. We expect the remedial investigation report and feasibility study to be finalized at the end of 2015, and we continue to pursue available insurance coverage. No receivable has been recognized for future recoveries.

On March 13, 2013, PolyOne acquired Spartech. One of Spartech's subsidiaries, Franklin-Burlington Plastics, Inc. (Franklin-Burlington), operated a plastic resin compounding facility in Kearny, New Jersey, located adjacent to the Passaic River. The USEPA has requested that companies located in the area of the lower Passaic River, including Franklin-Burlington, cooperate in an investigation of contamination of the lower Passaic River. In response, Franklin-Burlington and approximately 70 other companies (collectively, the Cooperating Parties) agreed, pursuant to an Administrative Order of Consent with the USEPA, to assume responsibility for development of a RIFS of the lower Passaic River. The RIFS costs are exclusive of any costs that may ultimately be required to remediate the lower Passaic River area being studied or costs associated with natural resource damages that may be assessed. By agreeing to bear a portion of the cost of the RIFS, Franklin-Burlington did not admit to any liability or agree to bear any such remediation or natural resource damage costs. In April 2014, the USEPA released a Focused Feasibility Study for public comment for a portion of the lower Passaic River. The Cooperating Parties, along with other interested parties, have submitted comments, and the USEPA is currently reviewing the comments.

Given the uncertainties related to the lower Passaic River, including the fact that the final remedial actions and scope, and the ultimate allocation to Franklin-Burlington, have not yet been determined, we are not able to assess or estimate our remedial liability, if any, related to this matter.

Based on our estimates we had accruals totaling $121.1 million and $125.9 million as of December 31, 2014 and 2013, respectively, for probable future environmental expenditures relating to previously contaminated sites. These accruals are undiscounted and included in Accrued expenses and other liabilities and Other non-current liabilities on the accompanying Consolidated Balance Sheets. The accruals represent our best estimate of probable future costs that we can reasonably estimate, based upon information and technology that is currently available and our view of the most likely remedy. Depending upon the results of future testing, completion and results of remedial investigation and feasibility studies, the ultimate remediation alternatives undertaken, changes in regulations, new information, newly discovered conditions and other factors, it is reasonably possible that we could incur additional costs in excess of the amount accrued at December 31, 2014. However, such additional costs, if any, cannot be currently estimated.

We believe that the probability is remote that losses in excess of amounts we have accrued would be materially adverse to our financial position, results of operations or cash flows.

The following table details the changes in the environmental accrued liabilities:

(In millions)	2014			2013			2012
Balance at beginning of the year	$	125.9		$	75.4		$	76.2
Environmental expenses	10.3			61.2			12.8
Net cash payments	(14.7		)	(14.3		)	(13.7		)
Currency translation and other	(0.4		)	3.6			0.1
Balance at end of year	$	121.1		$	125.9		$	75.4

Included in Cost of sales in the accompanying Consolidated Statements of Income are insurance reimbursements received for previously incurred environmental costs of $3.7 million and $23.5 million in 2014 and 2013, respectively.

Other Litigation — We are involved in various pending or threatened claims, lawsuits and administrative proceedings, all arising from the ordinary course of business concerning commercial, product liability, employment and environmental matters that seek remedies or damages. We believe that the probability is remote that losses in excess of the amounts we have accrued would be materially adverse to our financial position, results of operations or cash flows.

Guarantees — On February 28, 2011, we sold our 50% equity interest in SunBelt Chlor Alkali Partnership (Sunbelt) to Olin for $132.3 million in cash and the assumption by Olin of the obligations under our guarantee of senior secured notes issued by SunBelt of $42.7 million at the time of sale, $18.3 million as of December 31, 2014. Unless the guarantee is formally assigned to Olin, we remain obligated under the guarantee, although Olin has agreed to indemnify us for amounts that we may be obligated to pay under the guarantee. The senior secured notes mature in December 2017.

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Derivative Instruments

12 Months Ended

Dec. 31, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments

When translating results from foreign operations into U.S. dollars, we are subject to foreign exchange related risks in our operating results. We are also exposed to foreign exchange risk arising from intercompany lending transactions denominated in various foreign currencies that are subject to foreign exchange rate movement over the term of the loans. To mitigate these risks we enter into foreign exchange option and forward contracts. The counterparties to these instruments are financial institutions with strong credit ratings. PolyOne maintains control over the size of positions entered into with any one counterparty and regularly monitors the credit ratings of these institutions.

Derivative financial instruments are accounted for at fair value and recognized as assets or liabilities in the Consolidated Balance Sheets. These instruments are not designated as a hedge, and therefore, any gain or loss is immediately recognized in income.

The fair values of derivative financial instruments recorded in the Consolidated Balance Sheets are as follows: 

	December 31, 2014
(In millions)	Notional		Other current assets
Foreign currency forwards	$	5.1	$	—

	December 31, 2013
(In millions)	Notional		Other current assets
Foreign currency forwards	$	12.8	$	—

The effects of derivative instruments on our Consolidated Statements of Income are as follows: 

(In millions)	2014		2013			2012			Location
Foreign currency options - (losses)	$	—	$	(0.4	)	$	(1.4	)	Selling and administrative expense
Foreign currency forwards - gains/(losses)	1.1		(0.6		)	(0.4		)	Other expense, net

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Segment Information (Narrative) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended			0 Months Ended
	Dec. 31, 2014 grade_resin supplier	Dec. 31, 2013	Dec. 31, 2012	Dec. 01, 2014
Segment Reporting Information [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired	$ 47.2	$ 259.4	$ 33.8
Number of products sold	6,000
Number Of Grades of Resins Sold by PolyOne Distribution	3,500
Number Of Suppliers Represented by PolyOne Distribution	25
Accella [Member]
Segment Reporting Information [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired				$ 47.2

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Selected Quarterly Financial Data (Tables)

12 Months Ended

Dec. 31, 2014

Selected Quarterly Financial Information [Abstract]

Schedule Of Quarterly Financial Data

	2014 Quarters									2013 Quarters
(In millions, except per share data)	Fourth (2)			Third (3)		Second (4)		First (5)		Fourth(6)		Third (7)		Second (8)		First (9)
Sales	$	869.3		$	958.4	$	1,005.5	$	1,002.3	$	923.6	$	1,008.9	$	1,037.6	$	801.1
Gross Margin	152.6			182.6		184.5		188.2		114.9		181.3		203.7		162.3
Operating (loss)/income	(14.3		)	63.6		49.4		56.4		48.7		61.6		80.7		40.5
Net (loss)/income from continuing operations	(15.0		)	32.3		30.7		29.2		20.6		23.0		38.3		11.0
Net (loss)/income from continuing operations attributable to PolyOne shareholders	$	(14.6	)	$	32.3	$	30.9	$	29.4	$	21.0	$	23.2	$	38.6	$	11.2
Net income from continuing operations per common share attributable to PolyOne common shareholders: (1)
Basic net (loss)/income - continuing operations	$	(0.16	)	$	0.35	$	0.33	$	0.31	$	0.22	$	0.24	$	0.39	$	0.12
Diluted net (loss)/income - continuing operations	$	(0.16	)	$	0.35	$	0.33	$	0.31	$	0.22	$	0.24	$	0.39	$	0.12

(1) Per share amounts for the quarter and the full year have been computed separately. The sum of the quarterly amounts may not equal the annual amounts presented because of differences in the average shares outstanding during each period.

(2) Included for the fourth quarter 2014 are: 1) mark-to-market pension and other post-retirement charge of $56.5 million, 2) employee separation and restructuring costs of $23.2 million, 3) environmental remediation costs of $2.6 million and 5) a gain related to the reimbursement of previously incurred environmental costs of $2.1 million.

(3) Included for the third quarter 2014 are: 1) $17.9 million in employee separation and restructuring costs, 2) $5.9 million in environmental remediation costs and 3) a gain related to the reimbursement of previously incurred environmental costs of $1.6 million.

(4) Included for the second quarter 2014 are: 1) $35.1 million in employee separation and restructuring costs and 2) $5.4 million tax benefit associated with our investments in certain foreign affiliates.

(5) Included for the first quarter 2014 are: 1) $17.9 million in employee separation and restructuring costs.

(6) Included for the fourth quarter 2013 are: 1) gains from the SunBelt earn-out of $26.8 million, 2) mark-to-market pension and other post-retirement benefit gains of $44.0 million, 3) environmental remediation costs of $52.6 million, 4) a gain related to the reimbursement of previously incurred environmental costs of $3.4 million and 5) employee separation and restructuring costs of $28.3 million.

(7) Included for the third quarter 2013 are: 1) $5.3 million in environmental remediation costs, 2) $10.9 million in employee separation and restructuring costs, 3) $7.0 million gain on commercial litigation, 4) $5.2 million in debt extinguishment costs associated with our outstanding debt repurchases and 5) $1.2 million of acquisition and divestiture-related costs.

(8) Included for the second quarter 2013 are: 1) pre-tax gain of $223.7 million related to the sale of the Resin Business, 2) $2.9 million in employee separation and restructuring costs, 3) acquisition and divestiture-related costs of $4.9 million, 4) environmental remediation costs of $1.3 million and 5) a gain related to the reimbursement of previously incurred environmental costs of $14.9 million.

(9) Included for the first quarter 2013 are: 1) $9.9 million in employee separation and restructuring costs 2) acquisition and divestiture-related costs of $8.7 million, 3) environmental remediation costs of $2.0 million, 4) a gain related to the reimbursement of previously incurred environmental costs of $5.2 million and 5) $10.6 million in debt extinguishment costs related to the early retirement of our senior secured term loan.

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Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2014

Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]

Change In Benefit Obligation, Change In Plan Assets And Components Of Funded Status

The following tables present the change in benefit obligation, change in plan assets and components of funded status for defined benefit pension and post-retirement health care benefit plans. Actuarial assumptions that were used are also included.

	Pension Benefits						Health Care Benefits
(In millions)	2014			2013			2014			2013
Change in benefit obligation:
Projected benefit obligation — beginning of year	$	537.0		$	597.2		$	16.4		$	18.9
Service cost	1.6			1.7			—			—
Interest cost	24.9			23.9			0.7			0.6
Actuarial loss (gain)	70.9			(35.5		)	1.3			(1.0		)
Benefits paid	(54.8		)	(51.5		)	(1.7		)	(2.0		)
Other	(2.8		)	1.2			(0.1		)	(0.1		)
Projected benefit obligation — end of year	$	576.8		$	537.0		$	16.6		$	16.4
Projected salary increases	(3.5		)	(2.8		)	—			—
Accumulated benefit obligation	$	573.3		$	534.2		$	16.6		$	16.4
Change in plan assets:
Plan assets — beginning of year	$	472.2		$	410.4		$	—		$	—
Actual return on plan assets	47.8			44.9			—			—
Company contributions	20.1			68.0			1.5			1.8
Plan participants’ contributions	—			—			0.2			0.2
Benefits paid	(54.8		)	(51.5		)	(1.7		)	(2.0		)
Other	(1.3		)	0.4			—			—
Plan assets — end of year	$	484.0		$	472.2		$	—		$	—
Unfunded status at end of year	$	(92.8	)	$	(64.8	)	$	(16.6	)	$	(16.4	)

Amounts Included In Consolidated Balance Sheets

Amounts included in the accompanying Consolidated Balance Sheets are as follows:

	Pension Benefits				Health Care Benefits
(In millions)	2014		2013		2014		2013
Non-current assets	$	—	$	1.8	$	—	$	—
Accrued expenses and other liabilities	4.1		4.0		1.6		1.7
Other non-current liabilities	88.7		62.6		15.0		14.7

Schedule Of Projected And Accumulated Benefit Obligations In Excess Of Plan Assets

As of December 31, 2014 and 2013, we had plans with total projected and accumulated benefit obligations in excess of the related plan assets as follows:

	Pension Benefits				Health Care Benefits
(In millions)	2014		2013		2014		2013
Projected benefit obligation	$	566.3	$	528.5	$	16.6	$	16.4
Accumulated benefit obligation	562.8		525.6		16.6		16.4
Fair value of plan assets	473.5		461.9		—		—

Weighted Average Assumptions Used To Determine Net Periodic Benefit Cost and Benefit Obligation

Weighted-average assumptions used to determine net periodic benefit cost for the years ended December 31:

	Pension Benefits						Health Care Benefits
	2014		2013		2012		2014		2013		2012
Discount rate*	4.83	%	4.12	%	5.11	%	4.38	%	3.71	%	4.66	%
Expected long-term return on plan assets*	6.86	%	8.41	%	8.43	%	—	%	—	%	—	%
Assumed health care cost trend rates at December 31:
Health care cost trend rate assumed for next year	N/A		N/A		N/A		7.02	%	7.39	%	8.35	%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	N/A		N/A		N/A		4.50	%	4.63	%	5.00	%
Year that the rate reaches the ultimate trend rate	N/A		N/A		N/A		2027		2025		2019

Weighted-average assumptions used to determine benefit obligations at December 31:

	Pension Benefits				Health Care Benefits
	2014		2013		2014		2013
Discount rate	3.88	%	4.83	%	3.75	%	4.38	%
Assumed health care cost trend rates at December 31:
Health care cost trend rate assumed for next year	N/A		N/A		6.88	%	7.02	%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	N/A		N/A		4.50	%	4.50	%
Year that the rate reaches the ultimate trend rate	N/A		N/A		2027		2027

Impact Of One Percentage Point Change In Assumed Health Care Cost Trend Rates

Assumed health care cost trend rates have an effect on the amounts reported for the health care plans. A one percentage point change in assumed health care cost trend rates would have the following impact:

(In millions)	One Percentage Point Increase		One Percentage Point Decrease
Effect on total of service and interest cost	$	—	$	—
Effect on post-retirement benefit obligation	1.1		(1.0		)

Components Of Net Period Benefit Cost

The following table summarizes the components of net period benefit cost or gain that was recognized during each of the years in the three-year period ended December 31, 2014. Actuarial assumptions that were used are also included.

	Pension Benefits									Health Care Benefits
(In millions)	2014			2013			2012			2014		2013			2012
Components of net periodic benefit costs (gains):
Service cost	$	1.6		$	1.7		$	1.5		$	—	$	—		$	—
Interest cost	24.9			23.9			27.2			0.7		0.6			0.8
Expected return on plan assets	(32.2		)	(37.4		)	(27.6		)	—		—			—
Amortization of prior service cost	—			—			—			—		—			(17.4		)
Mark-to-market actuarial net losses (gains)	55.2			(43.0		)	44.0			1.3		(1.0		)	(2.0		)
Net periodic benefit cost (gain)	$	49.5		$	(54.8	)	$	45.1		$	2.0	$	(0.4	)	$	(18.6	)

Fair Values Of Pension Plan Assets

The fair values of pension plan assets at December 31, 2014 and 2013, by asset category, are as follows:

	Fair Value of Plan Assets at December 31, 2014
(In millions)	Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Asset category
Cash	$	6.7	$	—	$	—	$	6.7
Small-cap equity	19.2		—		—		19.2
Registered investment companies:
Non-U.S. equity	44.3		—		—		44.3
Floating rate income	35.7		—		—		35.7
Common collective funds:
Short-term investments	—		18.8		—		18.8
United States equity	—		62.6		—		62.6
Fixed income	—		77.0		—		77.0
United States treasuries	74.6		—		—		74.6
Fixed income securities	124.7		5.2		—		129.9
Other	—		—		15.2		15.2
Totals	$	305.2	$	163.6	$	15.2	$	484.0

	Fair Value of Plan Assets at December 31, 2013
(In millions)	Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Asset category
Cash	$	6.6	$	—	$	—	$	6.6
Equity securities:
Large-cap equity	28.4		—		—		28.4
Small-cap equity	22.0		—		—		22.0
International equity	14.4		—		—		14.4
Registered investment companies:
Fixed income	107.7		—		—		107.7
Non-U.S. equity	45.2		—		—		45.2
Floating rate income	35.3		—		—		35.3
Common collective funds:
Short-term investments	—		14.8		—		14.8
United States equity	—		30.0		—		30.0
United States treasuries	42.8		—		—		42.8
Fixed income securities	125.0		—		—		125.0
Totals	$	427.4	$	44.8	$	—	$	472.2

Estimated Future Benefit Payments

The estimated future benefit payments for our pension and health care plans are as follows:

(In millions)	Pension Benefits		Health Care Benefits
2015	$	50.0	$	1.6
2016	39.5		1.6
2017	39.0		1.5
2018	39.1		1.5
2019	38.6		1.4
2020 through 2024	186.3		6.0

Schedule Of Contributions To The Retirement Savings Plan

Following are our contributions to the RSP:

(In millions)	2014		2013		2012
Retirement savings match	$	9.7	$	9.8	$	7.6
Retirement benefit contribution	4.0		4.0		3.8
Total contributions	$	13.7	$	13.8	$	11.4

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Consolidated Balance Sheets (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Current assets:
Cash and cash equivalents	$ 238.6	$ 365.2
Accounts receivable, net	396.8	428.0
Inventories, net	309.0	342.5
Other current assets	98.3	117.9
Total current assets	1,042.7	1,253.6
Property, net	596.7	646.2
Goodwill	590.6	559.0
Intangible assets, net	362.7	365.8
Other non-current assets	118.5	119.5
Total assets	2,711.2	2,944.1
Current liabilities:
Short-term and current portion of long-term debt	61.8	12.7
Accounts payable	365.9	386.9
Accrued expenses and other liabilities	173.5	209.3
Total current liabilities	601.2	608.9
Long-term debt	962.0	976.2
Pension and other post-retirement benefits	103.7	77.3
Deferred income taxes	88.8	133.8
Other non-current liabilities	178.3	169.4
Total non-current liabilities	1,332.8	1,356.7
SHAREHOLDERS' EQUITY
Preferred stock, 40.0 shares authorized, no shares issued	0	0
Common Shares, $0.01 par, 400.0 shares authorized, 122.2 shares issued	1.2	1.2
Additional paid-in capital	1,155.4	1,149.8
Retained earnings	259.7	211.6
Common shares held in treasury, at cost, 32.9 shares in 2014 and 27.1 shares in 2013	(597.7)	(371.0)
Accumulated other comprehensive loss	(42.3)	(14.8)
Total PolyOne shareholders' equity	776.3	976.8
Noncontrolling interest	0.9	1.7
Total equity	777.2	978.5
Total liabilities and equity	$ 2,711.2	$ 2,944.1

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Income Taxes (Difference Between Effective Income Tax Rate And U.S. Statutory Rate) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended	12 Months Ended
	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Tax Disclosure [Abstract]
Federal tax rate		35.00%
Income tax expense at 35% of income from continuing operations, before income taxes		$ (30.9)	$ (52.8)	$ (29.2)
State tax, net of federal benefit		1.1	(3.9)	(1.3)
Differences in rates of foreign operations		5.4	(1.2)	3.3
Changes in valuation allowances		(6.9)	(3.1)	(0.9)
U.S. research and development credit		1.0	2.1	0
Tax benefits on certain foreign investments	(5.4)	13.4	0	0
Uncertain tax positions		(0.9)	0.5	0.1
U.S. tax settlements		2.8	0	0
Domestic manufacturing deduction		2.2	1.5	0
Other, net		1.6	(1.2)	(2.1)
Income tax expense		$ (11.2)	$ (58.1)	$ (30.1)

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Business Combinations

12 Months Ended

Dec. 31, 2014

Business Combinations [Abstract]

Business Combinations

Note 2 — BUSINESS COMBINATIONS

Accella Performance Materials

On December 1, 2014, the Company completed the acquisition of specialty assets of Accella Performance Materials (Accella), a leading North American manufacturer of liquid polymer formulations, for approximately $47.2 million in cash, net of cash acquired. The results of operations of Accella were included in the Company’s Consolidated Statements of Income for the period subsequent to the date of the acquisition and are reported in the Global Color, Additives and Inks segment. The acquisition resulted in preliminary goodwill and intangible assets of $40.5 million. Goodwill recognized as a result of this acquisition is deductible for tax purposes. As of December 31, 2014, the entire purchase price allocation is preliminary.

Spartech Corporation

On March 13, 2013, PolyOne acquired Spartech Corporation (Spartech), a supplier of sustainable plastic sheet, color and engineered materials, and packaging solutions, based in Clayton, Missouri, with fiscal 2012 sales of $1,149.4 million and net income from continuing operations of $2.7 million.

At the effective time of the merger, each issued and outstanding share of Spartech common shares was canceled and converted into the right to receive consideration equal to $2.67 in cash and 0.3167 shares of PolyOne common shares. PolyOne paid $83.4 million in cash and issued approximately 10.0 million shares of its common shares to Spartech's stockholders. PolyOne funded the cash portion of the consideration, and the repayment of certain portions of Spartech's debt, with a portion of the net proceeds of its issuance of 5.25% senior notes due 2023, discussed in Note 6,Financing Arrangements.

The acquisition of Spartech has provided substantial synergies through enhanced operational cost efficiencies and has expanded PolyOne's specialty portfolio. By combining Spartech's leading market positions in sheet, rigid barrier packaging and specialty cast acrylics with PolyOne's capabilities, we have been better able serve our customers and accelerate growth.

Spartech's results have been reflected within our Consolidated Statements of Income and within the Designed Structures and Solutions segment, as well as our existing Global Specialty Engineered Materials, Global Color, Additives and Inks and Performance Products and Solutions segments since the date of acquisition.

Based on the closing price of PolyOne's common stock on March 13, 2013, the purchase price was comprised of the following:

(In millions, except stock price and share data)
Spartech shares outstanding	31.2
Spartech restricted stock units	0.2
Spartech shares converted	31.4
Exchange ratio	0.3167
PolyOne shares issued	10.0
PolyOne closing stock price on March 13, 2013	$	25.05
Total value of PolyOne shares issued	$	249.9
Cash consideration transferred to Spartech shareholders	83.4
Fair value of Spartech equity awards, net of deferred tax benefits (1)	2.4
Total consideration transferred to Spartech equity holders	335.7
Spartech revolving credit facilities repaid at close (2)	77.2
Spartech senior notes repaid at close (2)	102.3
Total consideration transferred to debt and equity holders	515.2
Cash acquired	(4.1		)
Total consideration transferred to debt and equity holders, net of cash acquired	$	511.1

(1) In accordance with ASC 718, Compensation — Stock Compensation, the fair value of replacement awards attributable to pre-combination service is recognized as part of purchase consideration. The $2.4 million represents the fair value of Spartech replacement equity awards of $3.9 million net of deferred income tax benefits of $1.5 million. The fair value of awards attributable to post-combination service amounted to $2.7 million and are being recognized as stock compensation over their requisite service periods within PolyOne's Consolidated Statements of Income.

(2) In accordance with the provisions of Spartech's 7.08% senior notes due 2016 and revolving credit facilities, at the time of closing, PolyOne repaid all borrowings under Spartech's revolving credit facilities, which amounted to $77.2 million. Additionally, PolyOne repaid $102.3 million related to Spartech's 7.08% senior notes due 2016, including $88.9 million of aggregated principal, $10.3 million make-whole provisions, and $3.1 million of interest payable.

The acquisition of Spartech has been accounted for using the acquisition method of accounting, which requires, among other things, the assets acquired and liabilities assumed be recognized at their respective fair values as of the acquisition date. The purchase price allocation was finalized in the first quarter of 2014, following the completion of our assessment of contingencies and income taxes, which resulted in an increase to goodwill of $9.4 million. The 2013 consolidated financial statements have not been retroactively adjusted as these measurement period adjustments did not have a material impact on such statements.

The following table summarizes PolyOne's final fair value estimates at the acquisition date:

(In millions)	Final allocation
Accounts receivable	$	139.7
Inventories	114.4
Other current assets	18.6
Property	280.3
Other non-current assets	19.6
Intangible assets	44.6
Goodwill	162.6
Total assets acquired	779.8
Short-term and current portion of long-term debt	0.5
Accounts payable	105.0
Accrued expenses and other liabilities	43.1
Long-term debt	11.0
Other non-current liabilities	109.1
Total liabilities assumed	268.7
Net assets acquired	$	511.1

Goodwill is calculated as the excess of the consideration transferred over the assets acquired, and represents the estimated future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. Goodwill has been allocated to the Designed Structures and Solutions, Global Color, Additives and Inks and Performance Products and Solutions segments. Goodwill recognized as a result of this acquisition is not deductible for tax purposes. SeeNote 3,Goodwill and Intangible Assets, for information about goodwill and intangible assets.

The following unaudited pro forma information of PolyOne for the years ended December 31, 2013 and 2012 includes Spartech's operating results for the respective periods, as if the acquisition and related financing occurred on January 1, 2012. The following pro forma financial information is not necessarily indicative of the results of operations as they would have been had the transaction occurred on the assumed date, nor is it necessarily an indication of trends in future results for a number of reasons, including, but not limited to, differences between the assumptions used to prepare the pro forma information, cost savings from operating efficiencies, potential synergies, and the impact of incremental costs incurred in integrating the businesses.

	Year Ended December 31,
(In millions)	Pro Forma 2013		Pro Forma 2012
Sales	$	3,989.2	$	4,006.9
Net income from continuing operations	$	94.7	$	56.5

The unaudited pro forma financial information presented in the table above has been adjusted to give effect to adjustments that are: (1) directly related to the business combination; (2) factually supportable; and (3) expected to have a continuing impact. These adjustments include, but are not limited to, depreciation and amortization related to fair value adjustments to property, plant and equipment and intangible assets, and interest expense on acquisition-related debt.

In 2013, we incurred acquisition-related costs totaling of $7.6 million which have been included within selling and administrative expense in our Consolidated Statements of Income.

Glasforms

On December 19, 2012, PolyOne acquired all of the outstanding equity of Glasforms Inc. (Glasforms), a leading manufacturer of glass and carbon fiber reinforced polymers and advanced composite products, with 2012 annual sales of $51.1 million. The purchase marks PolyOne's entry into advanced composite technology, an adjacency consistent with the Company's strategy of providing specialty solutions that deliver high value to customers. The acquisition date fair value of the consideration transferred was $34.3 million, net of cash acquired of $1.2 million. Glasforms results have been reflected within our Consolidated Statement of Income and within our Global Specialty Engineered Materials Segment since the date of acquisition. The acquisition resulted in goodwill of $12.4 million and $10.7 million of identifiable intangible assets.

In 2012, we incurred acquisition-related costs totaling of $3.9 million which have been included within Selling and administrative expense in our Consolidated Statement of Income.

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Goodwill And Intangible Assets (Carrying Value And Accumulated Amortization Of Intangible Assets) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Finite-Lived Intangible Assets [Line Items]
Acquisition Cost	$ 432.5	$ 415.5
Accumulated Amortization	(67.9)	(49.9)
Currency Translation	(0.1)	0.2
Impairment	(1.8)
Net	362.7	365.8
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Acquisition Cost	199.4	181.5
Accumulated Amortization	(32.6)	(24.1)
Currency Translation	0	0.1
Impairment	(1.3)
Net	165.5	157.5
Patents, technology and other
Finite-Lived Intangible Assets [Line Items]
Acquisition Cost	133.4	134.3
Accumulated Amortization	(35.3)	(25.8)
Currency Translation	(0.1)	0.1
Impairment	(0.5)
Net	97.5	108.6
Indefinite-lived trade names
Finite-Lived Intangible Assets [Line Items]
Acquisition Cost	96.3	96.3
Accumulated Amortization	0	0
Currency Translation	0	0
Impairment	0
Net	96.3	96.3
In-process research and development
Finite-Lived Intangible Assets [Line Items]
Acquisition Cost	3.4	3.4
Accumulated Amortization	0	0
Currency Translation	0	0
Impairment	0
Net	$ 3.4	$ 3.4

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Commitments And Contingencies (Narrative) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended		12 Months Ended
	Dec. 31, 2013	Sep. 30, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Loss Contingencies [Line Items]
Other Increase (Decrease) in Environmental Liabilities	$ 47.0
Insurance Recoveries			3.7	23.5
Accrued probable future environmental expenditures	125.9		121.1	125.9	75.4	76.2
Proceeds from Legal Settlements		7.0
SunBelt
Loss Contingencies [Line Items]
Debt Instrument Guarantee Assumed By Acquirer			$ 18.3

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Property (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Property, Plant and Equipment [Line Items]
Property, gross	$ 1,435.6	$ 1,447.1
Less accumulated depreciation and amortization	(838.9)	(800.9)
Property, net	596.7	646.2	385.8
Depreciation expense	104.7	91.0	52.6
Restructuring and Related Cost, Accelerated Depreciation	23.1	12.7
Land and land improvements
Property, Plant and Equipment [Line Items]
Property, gross	49.2	52.5
Buildings
Property, Plant and Equipment [Line Items]
Property, gross	309.2	315.4
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, gross	$ 1,077.2	$ 1,079.2

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Fair Value

12 Months Ended

Dec. 31, 2014

Fair Value Disclosures [Abstract]

Fair Value

Fair value is measured based on an exit price, representing the amount that would be received to sell an asset or paid to satisfy a liability in an orderly transaction between market participants. Fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, a fair value hierarchy is established, which categorizes the inputs used in measuring fair value as follows: (Level 1) observable inputs such as quoted prices in active markets; (Level 2) inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and (Level 3) unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.

Financial instruments accounted for at fair value on a recurring basis as of December 31, 2014 and 2013 are as follows: 

	December 31, 2014
(In millions)	Total		Quoted prices in active markets for identical assets (Level 1)		Other observable inputs (Level 2)		Unobservable inputs (Level 3)
Cash and cash equivalents	$	238.6	$	238.6	$	—	$	—

	December 31, 2013
(In millions)	Total		Quoted prices in active markets for identical assets (Level 1)		Other observable inputs (Level 2)		Unobservable inputs (Level 3)
Cash and cash equivalents	$	365.2	$	365.2	$	—	$	—

The fair value of derivative instruments are classified as Level 2 and are determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves and spot and forward foreign currency rates as well as option volatility and non-performance risk.

Other Fair Value Measurements

The estimated fair value of PolyOne’s debt instruments at December 31, 2014 and 2013 was $1,045.4 million and $1,010.3 million, respectively, compared to carrying values of $1,023.8 million and $988.9 million as of December 31, 2014 and 2013, respectively. The fair value of PolyOne’s debt instruments was estimated using prevailing market interest rates on debt with similar creditworthiness, terms and maturities and represent Level 2 measurements within the fair value hierarchy.

In accordance with the provisions of FASB ASC Topic 350, Intangibles — Goodwill and Other, we assess the fair value of goodwill on an annual basis. The implied fair value of goodwill is determined based on significant unobservable inputs, as summarized below. Accordingly, these inputs fall within Level 3 of the fair value hierarchy. No impairment charges were included in 2014, 2013 or 2012. We use an income approach to estimate the fair value of our reporting units. The income approach uses a reporting unit’s projection of estimated operating results and cash flows that is discounted using a weighted-average cost of capital that is determined based on current market conditions. The projection uses management’s best estimates of economic and market conditions over the projected period including growth rates in sales, costs and number of units, estimates of future expected changes in operating margins and cash expenditures. Other significant estimates and assumptions include terminal value growth rates, terminal value margin rates, future capital expenditures and changes in future working capital requirements. We validate our estimates of fair value under the income approach by considering the implied control premium and conclude whether the implied control premium is reasonable based on other recent market transactions.

Indefinite-lived intangible assets primarily consist of the GLS and ColorMatrix trade names. Indefinite-lived intangible assets are tested for impairment annually at the same time we test goodwill for impairment. The implied fair value of indefinite-lived intangible assets is determined based on significant unobservable inputs, as summarized below. Accordingly, these inputs fall within Level 3 of the fair value hierarchy. No impairment charges were included in 2014, 2013 or 2012.

The fair value of the trade names is calculated using a “relief from royalty” methodology. This approach involves two steps (1) estimating reasonable royalty rates for the trade name and (2) applying this royalty rate to a net sales stream and discounting the resulting cash flows to determine fair value. This fair value is then compared with the carrying value of the trade name.

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Employee Benefit Plans (Schedule Of Projected And Accumulated Benefit Obligations In Excess Of Plan Assets) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	$ 566.3	$ 528.5
Accumulated benefit obligation	562.8	525.6
Fair value of plan assets	473.5	461.9
Health Care Benefits
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	16.6	16.4
Accumulated benefit obligation	16.6	16.4
Fair value of plan assets	$ 0	$ 0

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Inventories (Tables)

12 Months Ended

Dec. 31, 2014

Inventory Disclosure [Abstract]

Components Of Inventories

Components of Inventories, net are as follows:

(In millions)	December 31, 2014		December 31, 2013
Finished products	$	187.8	$	203.6
Work in process	4.1		3.9
Raw materials and supplies	117.1		135.0
Inventories, net	$	309.0	$	342.5

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Employee Benefit Plans

12 Months Ended

Dec. 31, 2014

Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]

Employee Benefit Plans

We recognize actuarial gains and losses in our operating results in the year in which the gains or losses occur. These gains and losses are generally only measured annually as of December 31 and, accordingly, are recorded during the fourth quarter of each year. In the fourth quarter of 2014, we recognized a pre-tax charge of $56.5 million related to the actuarial losses during the year. We recognized a pre-tax benefit of $44.0 millionand charge of $42.0 million in the fourth quarter of 2013 and 2012, respectively.

All U.S. qualified defined benefit pension plans are frozen, no longer accrue benefits and are closed to new participants. We have foreign pension plans that accrue benefits. The plans generally provide benefit payments using a formula that is based upon employee compensation and length of service.

We sponsor several unfunded defined benefit post-retirement plans that provide subsidized health care and life insurance benefits to a certain closed group of retirees. In 2009, we adopted changes to our U.S. post-retirement healthcare plan whereby, effective January 1, 2010, the plan, for certain eligible retirees, was discontinued, and benefits were phased out through December 31, 2012. When this plan change was recognized in 2009, prior service cost amortization was calculated to fully amortize the prior service cost by the end of 2012, consistent with the period of continued benefits.

The following tables present the change in benefit obligation, change in plan assets and components of funded status for defined benefit pension and post-retirement health care benefit plans. Actuarial assumptions that were used are also included.

	Pension Benefits						Health Care Benefits
(In millions)	2014			2013			2014			2013
Change in benefit obligation:
Projected benefit obligation — beginning of year	$	537.0		$	597.2		$	16.4		$	18.9
Service cost	1.6			1.7			—			—
Interest cost	24.9			23.9			0.7			0.6
Actuarial loss (gain)	70.9			(35.5		)	1.3			(1.0		)
Benefits paid	(54.8		)	(51.5		)	(1.7		)	(2.0		)
Other	(2.8		)	1.2			(0.1		)	(0.1		)
Projected benefit obligation — end of year	$	576.8		$	537.0		$	16.6		$	16.4
Projected salary increases	(3.5		)	(2.8		)	—			—
Accumulated benefit obligation	$	573.3		$	534.2		$	16.6		$	16.4
Change in plan assets:
Plan assets — beginning of year	$	472.2		$	410.4		$	—		$	—
Actual return on plan assets	47.8			44.9			—			—
Company contributions	20.1			68.0			1.5			1.8
Plan participants’ contributions	—			—			0.2			0.2
Benefits paid	(54.8		)	(51.5		)	(1.7		)	(2.0		)
Other	(1.3		)	0.4			—			—
Plan assets — end of year	$	484.0		$	472.2		$	—		$	—
Unfunded status at end of year	$	(92.8	)	$	(64.8	)	$	(16.6	)	$	(16.4	)

Amounts included in the accompanying Consolidated Balance Sheets are as follows:

	Pension Benefits				Health Care Benefits
(In millions)	2014		2013		2014		2013
Non-current assets	$	—	$	1.8	$	—	$	—
Accrued expenses and other liabilities	4.1		4.0		1.6		1.7
Other non-current liabilities	88.7		62.6		15.0		14.7

As of December 31, 2014 and 2013, we had plans with total projected and accumulated benefit obligations in excess of the related plan assets as follows:

	Pension Benefits				Health Care Benefits
(In millions)	2014		2013		2014		2013
Projected benefit obligation	$	566.3	$	528.5	$	16.6	$	16.4
Accumulated benefit obligation	562.8		525.6		16.6		16.4
Fair value of plan assets	473.5		461.9		—		—

Weighted-average assumptions used to determine benefit obligations at December 31:

	Pension Benefits				Health Care Benefits
	2014		2013		2014		2013
Discount rate	3.88	%	4.83	%	3.75	%	4.38	%
Assumed health care cost trend rates at December 31:
Health care cost trend rate assumed for next year	N/A		N/A		6.88	%	7.02	%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	N/A		N/A		4.50	%	4.50	%
Year that the rate reaches the ultimate trend rate	N/A		N/A		2027		2027

Assumed health care cost trend rates have an effect on the amounts reported for the health care plans. A one percentage point change in assumed health care cost trend rates would have the following impact:

(In millions)	One Percentage Point Increase		One Percentage Point Decrease
Effect on total of service and interest cost	$	—	$	—
Effect on post-retirement benefit obligation	1.1		(1.0		)

The following table summarizes the components of net period benefit cost or gain that was recognized during each of the years in the three-year period ended December 31, 2014. Actuarial assumptions that were used are also included.

	Pension Benefits									Health Care Benefits
(In millions)	2014			2013			2012			2014		2013			2012
Components of net periodic benefit costs (gains):
Service cost	$	1.6		$	1.7		$	1.5		$	—	$	—		$	—
Interest cost	24.9			23.9			27.2			0.7		0.6			0.8
Expected return on plan assets	(32.2		)	(37.4		)	(27.6		)	—		—			—
Amortization of prior service cost	—			—			—			—		—			(17.4		)
Mark-to-market actuarial net losses (gains)	55.2			(43.0		)	44.0			1.3		(1.0		)	(2.0		)
Net periodic benefit cost (gain)	$	49.5		$	(54.8	)	$	45.1		$	2.0	$	(0.4	)	$	(18.6	)

In 2014, we recognized a $56.5 million mark-to-market charge that was primarily a result of the decrease in year end discount rates, as shown in the tables above, and updated mortality assumptions. During 2014, we adopted the RP-2014 mortality table which was issued by the Society of Actuaries in October 2014.

Weighted-average assumptions used to determine net periodic benefit cost for the years ended December 31:

	Pension Benefits						Health Care Benefits
	2014		2013		2012		2014		2013		2012
Discount rate*	4.83	%	4.12	%	5.11	%	4.38	%	3.71	%	4.66	%
Expected long-term return on plan assets*	6.86	%	8.41	%	8.43	%	—	%	—	%	—	%
Assumed health care cost trend rates at December 31:
Health care cost trend rate assumed for next year	N/A		N/A		N/A		7.02	%	7.39	%	8.35	%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	N/A		N/A		N/A		4.50	%	4.63	%	5.00	%
Year that the rate reaches the ultimate trend rate	N/A		N/A		N/A		2027		2025		2019

*The mark-to-market component of net periodic costs is determined based on discount rates as of year end and actual asset returns during the year.

The expected long-term rate of return on pension assets was determined after considering the historical and forward looking long-term asset returns by asset category and the expected investment portfolio mix.

Our pension investment strategy is to diversify the portfolio among asset categories to enhance the portfolio’s risk-adjusted return as well as insulate it from exposure to changes in interest rates. Our asset mix considers the duration of plan liabilities, historical and expected returns of the investments, and the funded status of the plan. The pension asset allocation is reviewed and actively managed based on the funded status of the plan. As the funded status of the plan increases, the asset allocation is adjusted to increase the mix of fixed income investments and match the duration of those investments with the duration of the plan liabilities. Based on the current funded status of the plan, our pension asset investment allocation guidelines are to invest 60% to 70% in fixed income securities, 30% to 40% in equity securities and 0% to 10% in alternative investments and cash. These alternative investments may include funds of multiple asset investment strategies and funds of hedge funds.

The fair values of pension plan assets at December 31, 2014 and 2013, by asset category, are as follows:

	Fair Value of Plan Assets at December 31, 2014
(In millions)	Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Asset category
Cash	$	6.7	$	—	$	—	$	6.7
Small-cap equity	19.2		—		—		19.2
Registered investment companies:
Non-U.S. equity	44.3		—		—		44.3
Floating rate income	35.7		—		—		35.7
Common collective funds:
Short-term investments	—		18.8		—		18.8
United States equity	—		62.6		—		62.6
Fixed income	—		77.0		—		77.0
United States treasuries	74.6		—		—		74.6
Fixed income securities	124.7		5.2		—		129.9
Other	—		—		15.2		15.2
Totals	$	305.2	$	163.6	$	15.2	$	484.0

	Fair Value of Plan Assets at December 31, 2013
(In millions)	Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Asset category
Cash	$	6.6	$	—	$	—	$	6.6
Equity securities:
Large-cap equity	28.4		—		—		28.4
Small-cap equity	22.0		—		—		22.0
International equity	14.4		—		—		14.4
Registered investment companies:
Fixed income	107.7		—		—		107.7
Non-U.S. equity	45.2		—		—		45.2
Floating rate income	35.3		—		—		35.3
Common collective funds:
Short-term investments	—		14.8		—		14.8
United States equity	—		30.0		—		30.0
United States treasuries	42.8		—		—		42.8
Fixed income securities	125.0		—		—		125.0
Totals	$	427.4	$	44.8	$	—	$	472.2

Large-cap equities represent U.S. publicly-traded equity securities of companies with a market capitalization typically in excess of $10 billion with a focus on growth or value. Small-cap equities represent U.S. publicly-traded equity securities of companies with a market capitalization typically less than $2 billion with a focus on growth or value. International equities primarily represent publicly-traded equity securities of developed international countries and emerging markets with a focus on growth or value. The registered investment company fixed income funds invest primarily in investment grade fixed income securities. The registered investment company non-US equity funds invest in underlying securities that are actively traded in public, non-US markets. The registered investment company floating rate income fund strategy is to invest primarily in a diversified portfolio of first and second lien high-yield senior floating rate loans and other floating rate debt securities. Common collective funds are valued at the net value of units held by the fund at year end. The unit value is determined by the total value of fund assets divided by the total number of units of the fund owned. Short-term investments in common collective funds represent cash and other short-term investments. The equity investments in common collective funds are predominately in equity or investment grade fixed income securities actively traded in public markets based upon readily measurable prices. The United States treasuries and fixed income securities consist of publicly traded United States and non-United States fixed interest obligations (principally corporate and government bonds and debentures). Other assets are primarily insurance contracts for international plans.

Level 1 assets are valued based on quoted market prices. Level 2 investments included within the respective common collective trust funds are valued using a net asset value per share that is based on quoted market prices and/or other market data for the same or comparable instruments and transactions of the underlying equity or fixed income investments. The insurance contracts included in the other asset category are valued at the transacted price.

The estimated future benefit payments for our pension and health care plans are as follows:

(In millions)	Pension Benefits		Health Care Benefits
2015	$	50.0	$	1.6
2016	39.5		1.6
2017	39.0		1.5
2018	39.1		1.5
2019	38.6		1.4
2020 through 2024	186.3		6.0

We currently estimate that 2015 employer contributions will be $24.5 million to all qualified and non-qualified pension plans and $1.6 million to all healthcare benefit plans.

PolyOne sponsors various voluntary retirement savings plans (RSP). Under the provisions of the plans, eligible employees receive defined Company contributions and are eligible for Company matching contributions based on their eligible earnings contributed to the plan. In addition, we may make discretionary contributions to the plans for eligible employees based on a specific percentage of each employee’s compensation.

Following are our contributions to the RSP:

(In millions)	2014		2013		2012
Retirement savings match	$	9.7	$	9.8	$	7.6
Retirement benefit contribution	4.0		4.0		3.8
Total contributions	$	13.7	$	13.8	$	11.4

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Derivative Instruments Derivative Instruments (Consolidated Income Statement Impact) (Details) (Selling and administrative expense, USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Foreign currency options
Derivative Instruments, Gain (Loss) [Line Items]
Loss on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments	$ 0	$ (0.4)	$ (1.4)
Foreign currency forwards
Derivative Instruments, Gain (Loss) [Line Items]
Loss on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments	$ 1.1	$ (0.6)	$ (0.4)