Company: AVNT
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001122976-25-000053
Chunk: 2

Company: AVIENT CORP
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 2
Chunk 2
---
 in the six months ended June 30, 2024. The lower effective tax rate for the six months ended June 30, 2025 was primarily driven by a decrease in GILTI tax and increased favorable permanent items. Partially offsetting these benefits was an increase in valuation allowances.

Refer to Note 6, Income Taxes, for further details.

SEGMENT INFORMATION

Avient has two reportable segments: (1) Color, Additives and Inks; and (2) Specialty Engineered Materials.

Operating income is the primary segment performance measure that is reported to our chief operating decision maker (CODM), which is the Company's chief executive officer, for purposes of allocating resources and assessing performance. Operating income at the segment level does not include corporate general and administrative expenses that are not allocated to segments, restructuring charges, share-based compensation costs, environmental remediation costs and associated recoveries, asset impairments, acquisition-related charges, mark-to-market adjustments on pension and other post-retirement obligations, and certain other items that are not included in the measure of segment profit or loss that is reported to and reviewed by our CODM. These costs are included in Corporate.

Sales and Operating Income - The three and six months ended June 30, 2025 compared to the three and six months ended June 30, 2024:

                                      Three Months Ended                  Variances — Favorable                    Six Months Ended      Variances — Favorable                
                                      June 30,                            (Unfavorable)                            June 30,              (Unfavorable)                        
  (Dollars in millions)               2025                    2024        Change                     % Change      2025                  Change                     % Change  
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Sales:                                                                                                                                                                      
  Color, Additives and Inks           $                       $           $                             (0.6)      $                     $                               0.1  
  Specialty Engineered Materials      329.7                   308.1       21.6                            7.0      638.1                 15.6                            2.5  
  Corporate                           (1.8)                   (0.4)       (1.4)                            nm      (3.3)                 (2.2)                            nm  
  Total sales                         $                       $           $                               2.0      $                     $                               0.9  
  Operating