Company: AVNT
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001122976-25-000030
Chunk: 4

Company: AVIENT CORP
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 2
Chunk 4
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 to satisfy our expected uses of cash for at least the next twelve months and the foreseeable future thereafter. Expected uses of cash for 2025 include interest payments, cash taxes, dividend payments, environmental remediation payments and capital expenditures.

Cash Flows

The following describes the significant components of cash flows from operating, investing and financing activities for the three months ended March 31, 2025 and 2024.

Operating Activities - Net cash used by operating activities increased $8.3 million during the three months ended March 31, 2025 compared to the three months ended March 31, 2024, driven primarily by higher incentive compensation payments and increased working capital, partially offset by insurance proceeds of $34.0 million for previously incurred losses at the Calvert City site.

Investing Activities - Net cash used by investing activities during the three months ended March 31, 2025 and 2024 of $12.5 million and $24.5 million, respectively, primarily reflects the impact of capital expenditures.

Financing Activities - Net cash used by financing activities for the three months ended March 31, 2025 and 2024 of $28.3 million and $28.1 million, respectively, primarily reflects the impact of dividends paid.

15 AVIENT CORPORATION

Debt

As of March 31, 2025, aggregate maturities of the principal amount of debt for the current year, next four years and thereafter, are as follows:

         (In millions)                          
 ────────────────────────────────────────────────
                  2025      $              5.9  
                  2026      7.7                 
                  2027      7.6                 
                  2028      7.7                 
                  2029      693.8               
            Thereafter                 1,376.5  
  Aggregate maturities      $          2,099.2  

On March 12, 2025, the Company refinanced its senior secured term loan by amending the credit agreement governing such term loan (the Term Loan Amendment). The Term Loan Amendment reduced the interest rate per annum by 25 basis points, which now is either (i) Adjusted Term SOFR (as defined in the Term Loan Amendment) plus 1.75%, or (ii) a Base Rate (as defined in the Term Loan Amendment) plus 0.75%. The maturity date and other terms and conditions are substantially the same as the terms and conditions under the