Company: AVNT
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001122976-25-000088
Chunk: 5

Company: AVIENT CORP
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 2
Chunk 5
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10.7 million, net of recoveries, and lower incentive compensation.

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 have been and may continue to be material.

The following table summarizes our liquidity as of September 30, 2025 and December 31, 2024:

  (In millions)                      As of September 30, 2025                 As of December 31, 2024             
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Cash and cash equivalents          $                             445.6      $                            544.5  
  Revolving credit availability      487.3                                    211.4                               
  Liquidity                          $                             932.9      $                            755.9  

As of September 30, 2025, approximately 76% of the Company’s cash and cash equivalents resided outside the United States.

Expected sources of cash needed to satisfy cash requirements for the remainder of 2025 include our cash on hand, cash from operations and available liquidity under our revolving credit facility, if necessary. We believe that these sources will also provide sufficient liquidity to satisfy our expected uses of cash for at least the next twelve months and the foreseeable future thereafter. Expected uses of cash for the remainder of 2025 include additional debt prepayments, 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 nine months ended September 30, 2025 and 2024.

Operating Activities - Net cash provided by operating activities decreased $0.4 million during the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024, driven primarily by higher incentive compensation payments in 2025 associated with 2024 performance and increased working capital, partially offset by insurance proceeds of $34.0 million for previously incurred losses