# EDGAR Filing Document

**Accession Number:** 0001122976
**File Stem:** 0001122976-25-000088
**Filing Date:** 2025-11
**Character Count:** 91588
**Document Hash:** cd69311257edd53c28951db6e7be2791
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001122976-25-000088.hdr.sgml**: 20251105

**ACCESSION NUMBER**: 0001122976-25-000088

**CONFORMED SUBMISSION TYPE**: 10-Q

**PUBLIC DOCUMENT COUNT**: 57

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251105

**DATE AS OF CHANGE**: 20251105

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AVIENT CORP
- **CENTRAL INDEX KEY:** 0001122976
- **STANDARD INDUSTRIAL CLASSIFICATION:** PLASTICS, MATERIALS, SYNTH RESINS & NONVULCAN ELASTOMERS [2821]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 341730488
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 10-Q
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-16091
- **FILM NUMBER:** 251453104

**BUSINESS ADDRESS:**
- **STREET 1:** 33587 WALKER ROAD
- **CITY:** AVON LAKE
- **STATE:** OH
- **ZIP:** 44012
- **BUSINESS PHONE:** 440-930-1000

**MAIL ADDRESS:**
- **STREET 1:** 33587 WALKER ROAD
- **CITY:** AVON LAKE
- **STATE:** OH
- **ZIP:** 44012

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** POLYONE CORP
- **DATE OF NAME CHANGE:** 20000830

?xml version='1.0' encoding='ASCII'? avnt-20250930

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

________________________________________________

**FORM 10-Q** 

________________________________________________

(Mark One)

☒ **Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

**For the quarterly period ended September 30, 2025** 

**OR&nbsp;&nbsp;&nbsp;&nbsp;**

☐ **Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

**For the transition period from <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>to <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>.**

**Commission file number 1-16091** 

________________________________________________

**AVIENT CORPORATION**

*(Exact name of registrant as specified in its charter)*

________________________________________________

---

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

---

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

Former name, former address and former fiscal year, if changed since last report: **Not Applicable**

_______________________________________________

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

---

| | | |
|:---|:---|:---|
| **<u>Title of each class</u>** | **<u>Trading Symbol(s)</u>** | **<u>Name of each exchange on which registered</u>** |
| **Common Shares, par value $.01 per share** | **AVNT** | **New York Stock Exchange** |

---

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. ☒&nbsp;&nbsp;&nbsp;&nbsp;Yes ☐ No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). ☒&nbsp;&nbsp;&nbsp;&nbsp;Yes ☐ No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

---

| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | ☒ | Accelerated filer | ☐ |
| Non-accelerated filer | ☐ | Smaller reporting company | ☐ |
| | | Emerging growth company | ☐ |

---

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

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

The number of the registrant's outstanding common shares, par value $.01 per share, as of September 30, 2025 was 91,563,628.

**AVIENT CORPORATION**

------

**PART I — FINANCIAL INFORMATION**

**<u>ITEM 1.</u> <u>FINANCIAL STATEMENTS</u>**

**Avient Corporation**

**Condensed Consolidated Statements of Income (Unaudited)** 

(In millions, except per share data)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended<br>September 30,** | **Three Months Ended<br>September 30,** | **Nine Months Ended**<br>**September 30,** | **Nine Months Ended**<br>**September 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| Sales | $806.5 | $815.2 | $2499.6 | $2493.9 |
| Cost of sales | 561.6 | 553.8 | 1713.6 | 1696.7 |
| Gross margin | 244.9 | 261.4 | 786.0 | 797.2 |
| Selling and administrative expense | 177.8 | 184.2 | 622.1 | 553.5 |
| Operating income | 67.1 | 77.2 | 163.9 | 243.7 |
| Interest expense, net | (24.2) | (26.9) | (75.8) | (80.1) |
| Other expense, net |  | (0.3) | (0.9) | (2.1) |
| Income before income taxes | 42.9 | 50.0 | 87.2 | 161.5 |
| Income tax expense | (10.1) | (11.3) | (20.8) | (39.3) |
| Net income | $32.8 | $38.7 | $66.4 | $122.2 |
| Net income attributable to noncontrolling interests | (0.2) | (0.5) | (1.4) | (1.0) |
| Net income attributable to Avient common shareholders | $32.6 | $38.2 | $65.0 | $121.2 |
| Earnings per share attributable to Avient common shareholders - Basic: | $0.36 | $0.42 | $0.71 | $1.33 |
| Earnings per share attributable to Avient common shareholders - Diluted: | $0.36 | $0.41 | $0.71 | $1.32 |
| Weighted-average shares used to compute earnings per common share: | Weighted-average shares used to compute earnings per common share: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic | 91.6 | 91.3 | 91.5 | 91.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Plus dilutive impact of share-based compensation | 0.2 | 1.0 | 0.3 | 0.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted | 91.8 | 92.3 | 91.8 | 92.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Anti-dilutive share-based compensation awards | 1.5 | 0.4 | 1.5 | 0.4 |
| Cash dividends declared per share of common stock | $0.2700 | $0.2575 | $0.8100 | $0.7725 |

---

*See accompanying Notes to the Unaudited Condensed Consolidated Financial Statements.*

**1 AVIENT CORPORATION**

------

**Avient Corporation**

**Condensed Consolidated Statements of Comprehensive Income (Unaudited)** 

(In millions)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended<br>September 30,** | **Three Months Ended<br>September 30,** | **Nine Months Ended**<br>**September 30,** | **Nine Months Ended**<br>**September 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| Net income | $32.8 | $38.7 | $66.4 | $122.2 |
| Other comprehensive income (loss), net of tax: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Translation adjustments and related hedging instruments | 4.3 | 28.6 | 63.2 | (15.8) |
| Total other comprehensive income (loss) | 4.3 | 28.6 | 63.2 | (15.8) |
| Total comprehensive income | 37.1 | 67.3 | 129.6 | 106.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Comprehensive income attributable to noncontrolling interests | (0.2) | (0.5) | (1.4) | (1.0) |
| Comprehensive income attributable to Avient common shareholders | $36.9 | $66.8 | $128.2 | $105.4 |

---

*See accompanying Notes to the Unaudited Condensed Consolidated Financial Statements.*

**2 AVIENT CORPORATION**

------

**Avient Corporation**

**Condensed Consolidated Balance Sheets**

(In millions)

---

| | | |
|:---|:---|:---|
| | **(Unaudited)** <br>**September 30, 2025** | **December 31, 2024** |
| **ASSETS** | | |
| Current assets: |  |  |
| Cash and cash equivalents | $445.6 | $544.5 |
| Accounts receivable, net | 484.5 | 399.5 |
| Inventories, net | 392.1 | 346.8 |
| Other current assets | 101.7 | 131.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total current assets** | 1423.9 | 1422.1 |
| Property, net | 980.8 | 955.3 |
| Goodwill | 1754.6 | 1659.7 |
| Intangible assets, net | 1509.8 | 1450.4 |
| Other non-current assets | 386.7 | 323.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total assets** | $6055.8 | $5811.1 |
| **LIABILITIES AND SHAREHOLDERS' EQUITY** |  |  |
| Current liabilities: |  |  |
| Short-term and current portion of long-term debt | $0.5 | $7.7 |
| Accounts payable | 392.7 | 417.4 |
| Accrued expenses and other current liabilities | 308.4 | 331.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total current liabilities** | 701.6 | 756.1 |
| Non-current liabilities: |  |  |
| Long-term debt | 1971.4 | 2059.3 |
| Deferred income taxes | 307.7 | 260.4 |
| Other non-current liabilities | 686.7 | 405.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total non-current liabilities** | 2965.8 | 2725.4 |
| **SHAREHOLDERS' EQUITY** |  |  |
| Avient shareholders' equity | 2372.5 | 2313.8 |
| Noncontrolling interest | 15.9 | 15.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total equity** | 2388.4 | 2329.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total liabilities and equity** | $6055.8 | $5811.1 |

---

*See accompanying Notes to the Unaudited Condensed Consolidated Financial Statements.*

**3 AVIENT CORPORATION**

------

**Avient Corporation** 

**Condensed Consolidated Statements of Cash Flows (Unaudited)** 

(In millions)

---

| | | |
|:---|:---|:---|
| | **Nine Months Ended<br>September 30,** | **Nine Months Ended<br>September 30,** |
| | **2025** | **2024** |
| **Operating activities** |  |  |
| Net income | $66.4 | $122.2 |
| Adjustments to reconcile net income to net cash provided by operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 138.8 | 134.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cloud-based enterprise resource planning system impairment | 71.6 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Share-based compensation expense | 6.9 | 12.5 |
| Changes in assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase in accounts receivable | (66.4) | (65.7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase in inventories | (25.4) | (30.2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Decrease in accounts payable | (43.5) | (5.7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase (decrease) in restructuring obligations | 4.1 | (19.1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Decrease in environmental obligations | (1.5) | (6.6) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Environmental insurance recovery | 34.0 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Decrease) increase in incentive accruals | (33.0) | 23.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses and other assets and liabilities, net | (18.2) | (30.6) |
| **Net cash provided by operating activities** | 133.8 | 134.2 |
| **Investing activities** |  |  |
| Capital expenditures | (64.2) | (80.8) |
| Proceeds from plant closures |  | 3.4 |
| Other investing activities |  | (2.1) |
| **Net cash used by investing activities** | (64.2) | (79.5) |
| **Financing activities** |  |  |
| Proceeds from long-term borrowings |  | 650.0 |
| Payments on long-term borrowings | (100.2) | (659.1) |
| Cash dividends paid | (74.1) | (70.5) |
| Debt financing costs | (3.9) | (9.6) |
| Other financing activities | (3.5) | (4.6) |
| **Net cash used by financing activities** | (181.7) | (93.8) |
| Effect of exchange rate changes on cash | 13.2 | (1.0) |
| Decrease in cash and cash equivalents | (98.9) | (40.1) |
| Cash and cash equivalents at beginning of year | 544.5 | 545.8 |
| **Cash and cash equivalents at end of period** | $445.6 | $505.7 |

---

*See accompanying Notes to the Unaudited Condensed Consolidated Financial Statements.*

**4 AVIENT CORPORATION**

------

**Avient Corporation** 

**Condensed Consolidated Statements of Shareholders' Equity (Unaudited)** 

(In millions)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Common Shares** | **Common Shares** | **Shareholders' Equity** | **Shareholders' Equity** | **Shareholders' Equity** | **Shareholders' Equity** | **Shareholders' Equity** | **Shareholders' Equity** | **Shareholders' Equity** | **Shareholders' Equity** |
| | **Common<br>Shares** | **Common<br>Shares Held<br>in Treasury** | **Common<br>Shares** | **Additional<br>Paid-in<br>Capital** | **Retained Earnings** | **Common<br>Shares Held<br>in Treasury** | **Accumulated<br>Other<br>Comprehensive<br>(Loss) Income** | **Total Avient Shareholders' Equity** | **Non-controlling Interests** | **Total <br>Equity** |
| Balance at January 1, 2025 | 122.2 | (30.8) | $1.2 | $1537.5 | $1882.5 | $(929.6) | $(177.8) | $2313.8 | $15.8 | $2329.6 |
| &nbsp;&nbsp;&nbsp;Net loss |  |  |  |  | (20.2) |  |  | (20.2) | 0.3 | (19.9) |
| &nbsp;&nbsp;&nbsp;Other comprehensive income |  |  |  |  |  |  | 29.5 | 29.5 |  | 29.5 |
| &nbsp;&nbsp;Cash dividends declared -- $0.2700 per share |  |  |  |  | (24.7) |  |  | (24.7) |  | (24.7) |
| &nbsp;&nbsp;&nbsp;Share-based compensation and exercise of awards |  | 0.1 |  | (1.2) |  | 1.1 |  | (0.1) |  | (0.1) |
| Balance at March 31, 2025 | 122.2 | (30.7) | $1.2 | $1536.3 | $1837.6 | $(928.5) | $(148.3) | $2298.3 | $16.1 | $2314.4 |
| &nbsp;&nbsp;&nbsp;Net income |  |  |  |  | 52.6 |  |  | 52.6 | 0.9 | 53.5 |
| &nbsp;&nbsp;&nbsp;Other comprehensive income |  |  |  |  |  |  | 29.4 | 29.4 |  | 29.4 |
| &nbsp;&nbsp;&nbsp;Noncontrolling interest activity |  |  |  |  |  |  |  |  | (1.3) | (1.3) |
| &nbsp;&nbsp;Cash dividends declared -- $0.2700 per share |  |  |  |  | (24.7) |  |  | (24.7) |  | (24.7) |
| &nbsp;&nbsp;&nbsp;Share-based compensation and exercise of awards |  |  |  | 2.6 |  | 0.1 |  | 2.7 |  | 2.7 |
| Balance at June 30, 2025 | 122.2 | (30.7) | $1.2 | $1538.9 | $1865.5 | $(928.4) | $(118.9) | $2358.3 | $15.7 | $2374.0 |
| &nbsp;&nbsp;&nbsp;Net income |  |  |  |  | 32.6 |  |  | 32.6 | 0.2 | 32.8 |
| &nbsp;&nbsp;&nbsp;Other comprehensive income |  |  |  |  |  |  | 4.3 | 4.3 |  | 4.3 |
| &nbsp;&nbsp;Cash dividends declared -- $0.2700 per share |  |  |  |  | (24.7) |  |  | (24.7) |  | (24.7) |
| &nbsp;&nbsp;&nbsp;Share-based compensation and exercise of awards |  | 0.1 |  | 1.8 |  | 0.2 |  | 2.0 |  | 2.0 |
| Balance at September 30, 2025 | 122.2 | (30.6) | $1.2 | $1540.7 | $1873.4 | $(928.2) | $(114.6) | $2372.5 | $15.9 | $2388.4 |

---

**5 AVIENT CORPORATION**

------

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Common Shares** | **Common Shares** | **Shareholders' Equity** | **Shareholders' Equity** | **Shareholders' Equity** | **Shareholders' Equity** | **Shareholders' Equity** | **Shareholders' Equity** | **Shareholders' Equity** | **Shareholders' Equity** |
| | **Common<br>Shares** | **Common<br>Shares Held<br>in Treasury** | **Common<br>Shares** | **Additional<br>Paid-in<br>Capital** | **Retained Earnings** | **Common<br>Shares Held<br>in Treasury** | **Accumulated<br>Other<br>Comprehensive<br>(Loss) Income** | **Total Avient Shareholders' Equity** | **Non-controlling Interests** | **Total <br>Equity** |
| Balance at January 1, 2024 | 122.2 | (31.0) | $1.2 | $1529.7 | $1808.2 | $(932.5) | $(87.4) | $2319.2 | $18.8 | $2338.0 |
| &nbsp;&nbsp;&nbsp;Net income |  |  |  |  | 49.4 |  |  | 49.4 | 0.3 | 49.7 |
| &nbsp;&nbsp;&nbsp;Other comprehensive loss |  |  |  |  |  |  | (25.9) | (25.9) |  | (25.9) |
| &nbsp;&nbsp;&nbsp;Noncontrolling interest activity |  |  |  | 0.3 |  |  |  | 0.3 | (2.6) | (2.3) |
| &nbsp;&nbsp;Cash dividends declared -- $0.2575 per share |  |  |  |  | (23.5) |  |  | (23.5) |  | (23.5) |
| &nbsp;&nbsp;&nbsp;Share-based compensation and exercise of awards |  | 0.1 |  | 0.9 |  | 0.9 |  | 1.8 |  | 1.8 |
| Balance at March 31, 2024 | 122.2 | (30.9) | $1.2 | $1530.9 | $1834.1 | $(931.6) | $(113.3) | $2321.3 | $16.5 | $2337.8 |
| &nbsp;&nbsp;&nbsp;Net income |  |  |  |  | 33.6 |  |  | 33.6 | 0.2 | 33.8 |
| &nbsp;&nbsp;&nbsp;Other comprehensive loss |  |  |  |  |  |  | (18.5) | (18.5) |  | (18.5) |
| &nbsp;&nbsp;Cash dividends declared -- $0.2575 per share |  |  |  |  | (23.5) |  |  | (23.5) |  | (23.5) |
| &nbsp;&nbsp;&nbsp;Share-based compensation and exercise of awards |  |  |  | 3.9 |  | 0.7 |  | 4.6 |  | 4.6 |
| Balance at June 30, 2024 | 122.2 | (30.9) | $1.2 | $1534.8 | $1844.2 | $(930.9) | $(131.8) | $2317.5 | $16.7 | $2334.2 |
| &nbsp;&nbsp;&nbsp;Net income |  |  |  |  | 38.2 |  |  | 38.2 | 0.5 | 38.7 |
| &nbsp;&nbsp;&nbsp;Other comprehensive income |  |  |  |  |  |  | 28.6 | 28.6 |  | 28.6 |
| &nbsp;&nbsp;Cash dividends declared -- $0.2575 per share |  |  |  |  | (23.5) |  |  | (23.5) |  | (23.5) |
| &nbsp;&nbsp;&nbsp;Share-based compensation and exercise of awards |  | 0.1 |  | 1.9 |  | 0.3 |  | 2.2 |  | 2.2 |
| Balance at September 30, 2024 | 122.2 | (30.8) | $1.2 | $1536.7 | $1858.9 | $(930.6) | $(103.2) | $2363.0 | $17.2 | $2380.2 |

---

*See accompanying Notes to the Unaudited Condensed Consolidated Financial Statements.*

**6 AVIENT CORPORATION**

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**Avient Corporation**

**Notes to Condensed Consolidated Financial Statements** 

**(Unaudited)**

**Note 1 — BASIS OF PRESENTATION** 

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with Form 10-Q instructions and in the opinion of management contain all adjustments, including those that are normal, recurring and necessary to present fairly the financial position, results of operations and cash flows for the periods presented. The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from these estimates. These interim financial statements should be read in conjunction with the consolidated financial statements and accompanying notes included in the Annual Report on Form 10-K for the year ended December 31, 2024 of Avient Corporation. When used in this Quarterly Report on Form 10-Q, the terms "we," "us," "our," "Avient" and the "Company" mean Avient Corporation and its consolidated subsidiaries.

Operating results for the three and nine months ended September 30, 2025 are not necessarily indicative of the results that may be attained in subsequent periods or for the year ending December 31, 2025.

**Accounting Standards Adopted**

In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-07, *Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures*, which requires additional segment disclosures on an annual and interim basis, including significant segment expenses that are regularly provided to the chief operating decision maker. The Company adopted this standard for the year ended December 31, 2024, and interim periods thereafter, and applied retrospective changes to all periods presented in the condensed consolidated financial statements. The adoption of ASU 2023-07 impacted segment disclosures within Note 9, *Segment Information.*

**Accounting Standards Not Yet Adopted**

ASU 2023-09, *Income Taxes,* provides guidance requiring disaggregated income tax disclosures on an annual basis, including information on the Company's effective tax rate reconciliation and income taxes paid. This guidance is effective for fiscal years beginning after December 15, 2024, and may be applied prospectively or retrospectively. The Company is currently evaluating the impacts of adopting this standard to its income taxes disclosures.

ASU 2024-03, *Income Statement — Reporting Comprehensive Income — Expense Disaggregation Disclosures,* provides guidance requiring disaggregated disclosure of income statement expenses. This guidance is effective for annual reporting periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027. This guidance may be applied prospectively or retrospectively. The Company is currently evaluating the impacts of adopting this standard to its financial statement disclosures.

**Note 2 — GOODWILL AND INTANGIBLE ASSETS**

Goodwill as of September 30, 2025 and December 31, 2024 and changes in the carrying amount of goodwill by segment were as follows:

---

| | | | |
|:---|:---|:---|:---|
| **(In millions)** | **Specialty Engineered Materials** | **Color, Additives and Inks** | **Total** |
| Balance at December 31, 2024 | $656.3 | $1003.4 | $1659.7 |
| Currency translation | 53.5 | 41.4 | 94.9 |
| Balance at September 30, 2025 | $709.8 | $1044.8 | $1754.6 |

---

**7 AVIENT CORPORATION**

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **As of September 30, 2025** | **As of September 30, 2025** | **As of September 30, 2025** | **As of September 30, 2025** |
| **(In millions)** | **Acquisition Cost** | **Accumulated Amortization** | **Currency Translation** | **Net** |
| Customer relationships | $726.2 | $(261.0) | $38.0 | $503.2 |
| Patents, technology and other | 847.0 | (289.7) | 45.3 | 602.6 |
| Indefinite-lived trade names | 362.8 |  | 41.2 | 404.0 |
| Total | $1936.0 | $(550.7) | $124.5 | $1509.8 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **As of December 31, 2024** | **As of December 31, 2024** | **As of December 31, 2024** | **As of December 31, 2024** |
| **(In millions)** | **Acquisition Cost** | **Accumulated Amortization** | **Currency Translation** | **Net** |
| Customer relationships | $726.2 | $(234.9) | $(0.4) | $490.9 |
| Patents, technology and other | 847.0 | (255.8) | (6.1) | 585.1 |
| Indefinite-lived trade names | 362.8 |  | 11.6 | 374.4 |
| Total | $1936.0 | $(490.7) | $5.1 | $1450.4 |

---

**Note 3 — RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES**

<u>Cloud-based Enterprise Resource Planning System Impairment and Other Related Charges</u>

In the first quarter of 2025, the Company completed a review of its cloud-based enterprise resource planning system, S/4HANA, including updated project timelines, cost incurred to date, required internal resources and expected costs to complete the initial site implementations, and the evolution of options that could provide better returns for shareholders. As a result of this review, the Company determined it would cease the ongoing development of S/4HANA.

As a result of this decision, in the first quarter of 2025, the Company recognized a non-cash, pre-tax impairment charge of $71.6 million associated with capitalized implementation costs. The Company also recognized pre-tax charges of $14.7 million associated with unpaid contractual obligations for hosting fees. Further, the Company recognized charges of $2.8 million associated to severance actions resulting from the decision to cease development of S/4HANA. These charges are included in *Selling and administrative expense* within the *Condensed Consolidated Statements of Income*.

<u>Clariant Color Integration Restructuring Program</u>

We are engaged in a restructuring program associated with our integration of Clariant Color. These actions are expected to enable us to better serve customers, improve efficiency and deliver cost savings. We expect that the full restructuring plan will be implemented by the end of 2025 and anticipate that we will incur approximately $66.0 million of charges in connection with the restructuring plan. As of September 30, 2025, $64.3 million had been incurred.

A summary of the Clariant Color integration restructuring is shown below:

---

| | | | |
|:---|:---|:---|:---|
| **(in millions)** | **Workforce reductions** | **Plant closing and other** | **Total** |
| Balance at January 1, 2024 | $30.3 | $0.8 | $31.1 |
| &nbsp;&nbsp;Restructuring charges | 0.4 | 1.6 | 2.0 |
| &nbsp;&nbsp;Payments, utilization and translation | (23.3) | (1.6) | (24.9) |
| Balance at December 31, 2024 | $7.4 | $0.8 | $8.2 |
| &nbsp;&nbsp;Restructuring charges | 1.7 | 0.3 | 2.0 |
| &nbsp;&nbsp;Payments, utilization and translation | (3.9) | (0.3) | (4.2) |
| Balance at September 30, 2025 | $5.2 | $0.8 | $6.0 |

---

<u>Other Restructuring Actions</u>

During the three and nine months ended September 30, 2025, the Company recognized charges of $5.5 million and $15.7 million, respectively, primarily associated with plant closure costs and workforce reduction.

**8 AVIENT CORPORATION**

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**Note 4 — INVENTORIES, NET** 

Components of *Inventories, net* are as follows:

---

| | | |
|:---|:---|:---|
| **(In millions)** | **As of September 30, 2025** | **As of December 31, 2024** |
| Finished products | $157.9 | $159.2 |
| Work in process | 27.0 | 21.0 |
| Raw materials and supplies | 207.2 | 166.6 |
| Inventories, net | $392.1 | $346.8 |

---

**Note 5 — PROPERTY, NET** 

Components of *Property, net* are as follows:

---

| | | |
|:---|:---|:---|
| **(In millions)** | **As of September 30, 2025** | **As of December 31, 2024** |
| Land and land improvements | $100.6 | $93.9 |
| Buildings | 455.6 | 438.3 |
| Machinery and equipment | 1375.7 | 1291.6 |
| Property, gross | 1931.9 | 1823.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;Less accumulated depreciation | (951.1) | (868.5) |
| Property, net | $980.8 | $955.3 |

---

**Note 6 — INCOME TAXES**

During the three and nine months ended September 30, 2025, the Company's effective tax rates were 23.5% and 23.9%, respectively, compared to the U.S federal statutory rate of 21.0%. The differences were primarily due to earnings mix and withholding taxes on foreign earnings. These impacts were partially offset by research and development tax credits.

During the three and nine months ended September 30, 2024, the Company's effective tax rates of 22.5% and 24.3%, respectively, were above the U.S. federal statutory rate of 21.0% primarily due to withholding tax on foreign earnings and the impacts of global intangible low-taxed income (GILTI), partially offset by research and development tax credits.

In December 2024, Avient received a Notice of Deficiency (Notice) from the U.S. Internal Revenue Service (IRS) proposing an adjustment to the 2019 tax year resulting from a disallowed capital loss. The proposed incremental tax associated with the Notice is $23.8 million plus estimated interest of $6.9 million. We contested the Notice by filing a petition in U.S. Tax Court on March 4, 2025. The IRS' answer to Avient's petition included an additional accuracy-related penalty of $4.8 million and is subject to interest. The Company believes that the proposed penalty is also without merit, and we intend to contest the penalty vigorously in U.S. Tax Court. However, there can be no assurance this dispute with the IRS will be resolved favorably. As of September 30, 2025, the Company has not recorded any income tax provision related to this matter; therefore an unfavorable ruling or settlement in U.S. Tax Court would adversely impact our effective tax rate and result in a cash tax payment.

The One Big Beautiful Bill Act (OBBBA) was enacted on July 4, 2025. The OBBBA includes tax law changes that impact Avient, such as changes to the limitation on the business interest expense deductions, effective in 2025, and updates to the rules for GILTI and foreign-derived intangible income, effective in 2026. The Company is currently evaluating the OBBBA's impact, however, does not expect it to have a material impact to the current year consolidated financial statements.

**9 AVIENT CORPORATION**

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**Note 7 — FINANCING ARRANGEMENTS** 

Debt consists of the following instruments:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **As of September 30, 2025 (in millions)** | **Principal Amount** | **Unamortized discount and debt issuance cost** | **Net Debt** | **Weighted average interest rate** |
| Senior secured revolving credit facility due 2030 | $— | $— | $— | —% |
| Senior secured term loan due 2029 | 620.7 | 12.5 | 608.2 | 6.10% |
| 7.125% senior notes due 2030 | 725.0 | 6.5 | 718.5 | 7.125% |
| 6.250% senior notes due 2031 | 650.0 | 8.2 | 641.8 | 6.250% |
| Other Debt | 3.4 |  | 3.4 |  |
| Total Debt | 1999.1 | 27.2 | 1971.9 |  |
| Less short-term and current portion of long-term debt | 0.5 |  | 0.5 |  |
| Total long-term debt, net of current portion | $1998.6 | $27.2 | $1971.4 |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **As of December 31, 2024 (in millions)** | **Principal Amount** | **Unamortized discount and debt issuance cost** | **Net Debt** | **Weighted average interest rate** |
| Senior secured revolving credit facility due 2026 | $— | $— | $— | —% |
| Senior secured term loan due 2029 | 720.7 | 15.5 | 705.2 | 7.30% |
| 7.125% senior notes due 2030 | 725.0 | 7.5 | 717.5 | 7.125% |
| 6.250% senior notes due 2031 | 650.0 | 9.2 | 640.8 | 6.250% |
| Other Debt | 3.5 |  | 3.5 |  |
| Total Debt | 2099.2 | 32.2 | 2067.0 |  |
| Less short-term and current portion of long-term debt | 7.7 |  | 7.7 |  |
| Total long-term debt, net of current portion | $2091.5 | $32.2 | $2059.3 |  |

---

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 credit agreement immediately prior to the Term Loan Amendment.

During the three and nine months ended September 30, 2025, the Company made voluntary prepayments of $50.0 million and $100.0 million, respectively, on its senior secured term loan, which were applied to the principal installments in direct order of maturity. These prepayments were made without penalty or premium.

On June 12, 2025, the Company entered into a revolving credit agreement (the Revolving Credit Agreement) with various financial institutions as lenders, and JPMorgan Chase Bank, N.A., as administrative agent, which replaced our previous credit agreement. The Revolving Credit Agreement provides for a senior secured revolving credit facility of up to $500.0 million, which may be increased by up to $250.0 million, subject to certain conditions. Loans under the Revolving Credit Agreement will mature on June 12, 2030. The Revolving Credit Agreement contains representations and warranties, affirmative covenants, negative covenants and events of default that are substantially similar to those contained in the Company's existing term loan credit agreement.

As of September 30, 2025, we had no borrowings outstanding under the senior secured revolving credit facility.

The agreements governing our senior secured revolving credit facility and our senior secured term loan, and the indentures and credit agreements governing our other debt, contain a number of customary financial and restrictive covenants that, among other things, limit our ability to: sell or otherwise transfer assets, including in a spin-off, 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 into transactions with affiliates, create dividend or other payment restrictions with respect to subsidiaries, make capital investments and alter the business we conduct. As of September 30, 2025, we were in compliance with all covenants.

The estimated fair value of Avient's debt instruments at September 30, 2025 and December 31, 2024 was $2,007.7 million and $2,083.3 million, respectively. The fair value of Avient'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.

**10 AVIENT CORPORATION**

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**Note 8 — DERIVATIVES AND HEDGING** 

We are exposed to market risks, such as changes in foreign currency exchange rates and interest rates. To manage the volatility related to these exposures we may enter into various derivative transactions. We formally assess, designate and document, as a hedge of an underlying exposure, the qualifying derivative instrument that will be accounted for as an accounting hedge at inception. Additionally, we assess both at inception and at least quarterly thereafter, whether the financial instruments used in the hedging transaction are effective at offsetting changes in either the fair values or cash flows of the underlying exposures. In accordance with ASU 2017-12, *Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities* (ASU 2017-12), that ongoing assessment will be done qualitatively for highly effective relationships.

As a means of mitigating the impact of currency fluctuations on our Euro investments in foreign entities, we have executed cross-currency swaps, in which we pay fixed-rate interest in Euros and receive fixed-rate interest in U.S. dollars related to our future obligations to exchange euros for U.S. dollars. These cross-currency swaps effectively convert a portion of our U.S. dollar denominated fixed-rate debt to Euro denominated fixed-rate debt.

We currently hold cross-currency swaps with a combined notional amount of €700.0 million maturing in November 2026, €900.0 million maturing in August 2027, €510.5 million maturing in January 2028 and €464.9 million maturing in January 2029. We designated the cross-currency swaps as net investment hedges of our net investment in our European operations under ASU 2017-12 and applied the spot method to these hedges. The changes in fair value of these derivative instruments are recognized within *Accumulated Other Comprehensive Income* (AOCI) to offset the changes in the values of the net investment being hedged. For the three and nine months ended September 30, 2025, a gain of $3.3 million and loss of $207.3 million were recognized within translation adjustments in AOCI, net of tax, respectively, compared to losses of $73.3 million and $20.9 million, net of tax, for the three and nine months ended September 30, 2024, respectively. Included in *Interest expense, net* on the *Condensed Consolidated Statements of Income* is income of $9.0 million and $27.1 million, respectively, for the three and nine months ended September 30, 2025, compared to income of $9.7 million and $29.1 million, respectively, for the three and nine months ended September 30, 2024, related to interest payments received from counterparties.

All of our derivative assets and liabilities measured at fair value are classified as Level 2 within the fair value hierarchy. We determine the fair value of our derivatives based on valuation methods, which project future cash flows and discount the future amounts to present value using market based observable inputs, including interest rate curves and foreign currency rates.

The fair value of derivative financial instruments recognized in the *Condensed Consolidated Balance Sheets* is as follows:

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| | | | |
|:---|:---|:---|:---|
| **(In millions)** | **Balance Sheet Location** | **As of** <br>**September 30, 2025** | **As of**<br>**December 31, 2024** |
| **<u>Assets</u>** | | | |
| &nbsp;&nbsp;&nbsp;Cross-currency Swaps (Net Investment Hedge) | Other non-current assets | $— | $6.1 |
| **<u>Liabilities</u>** |  |  |  |
| &nbsp;&nbsp;&nbsp;Cross-currency Swaps (Net Investment Hedge) | Other non-current liabilities | $376.9 | $104.7 |

---

 **Note 9 — 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. Our CODM utilizes this measure as an input to determine appropriate resource allocations to our segments in the annual planning process and to periodically assess segment performance, primarily by evaluating actual results in comparison to the annual operating plan and forecast. 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*.

**11 AVIENT CORPORATION**

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Financial information by reportable segment is as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
| **(In millions)**<br>**Three Months Ended September 30, 2025** | **Color, Additives and Inks** | **Specialty Engineered Materials** | **Corporate** | **Consolidated<br>Total** |
| Sales | $509.9 | $297.7 | $(1.1) | $806.5 |
| Cost of sales | 341.1 | 206.7 | 13.8 | 561.6 |
| Selling and administrative expense | 95.0 | 53.7 | 29.1 | 177.8 |
| Operating income | $73.8 | $37.3 | $(44.0) | $67.1 |
| Interest expense, net |  |  |  | (24.2) |
| Other expense, net |  |  |  |  |
| Income before income taxes |  |  |  | $42.9 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Three Months Ended September 30, 2024** | **Color, Additives and Inks** | **Specialty Engineered Materials** | **Corporate** | **Consolidated<br>Total** |
| Sales | $521.5 | $294.6 | $(0.9) | $815.2 |
| Cost of sales | 348.7 | 205.6 | (0.5) | 553.8 |
| Selling and administrative expense | 97.3 | 52.6 | 34.3 | 184.2 |
| Operating income | $75.5 | $36.4 | $(34.7) | $77.2 |
| Interest expense, net |  |  |  | (26.9) |
| Other expense, net |  |  |  | (0.3) |
| Income before income taxes |  |  |  | $50.0 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Nine Months Ended September 30, 2025** | **Color, Additives and Inks** | **Specialty Engineered Materials** | **Corporate** | **Consolidated<br>Total** |
| Sales | $1568.2 | $935.8 | $(4.4) | $2499.6 |
| Cost of sales | 1038.3 | 653.2 | 22.1 | 1713.6 |
| Selling and administrative expense | 287.2 | 158.0 | 176.9 | 622.1 |
| Operating income | $242.7 | $124.6 | $(203.4) | $163.9 |
| Interest expense, net |  |  |  | (75.8) |
| Other expense, net |  |  |  | (0.9) |
| Income before income taxes |  |  |  | $87.2 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Nine Months Ended September 30, 2024** | **Color, Additives and Inks** | **Specialty Engineered Materials** | **Corporate** | **Consolidated<br>Total** |
| Sales | $1578.8 | $917.1 | $(2.0) | $2493.9 |
| Cost of sales | 1050.3 | 626.4 | 20.0 | 1696.7 |
| Selling and administrative expense | 292.1 | 158.1 | 103.3 | 553.5 |
| Operating income | $236.4 | $132.6 | $(125.3) | $243.7 |
| Interest expense, net |  |  |  | (80.1) |
| Other expense, net |  |  |  | (2.1) |
| Income before income taxes |  |  |  | $161.5 |

---

**12 AVIENT CORPORATION**

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended<br>September 30,** | **Three Months Ended<br>September 30,** | **Nine Months Ended<br>September 30,** | **Nine Months Ended<br>September 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| **Depreciation and amortization:** |  |  |  |  |
| &nbsp;&nbsp;Color, Additives and Inks | $22.6 | $21.9 | $66.7 | $65.6 |
| &nbsp;&nbsp;Specialty Engineered Materials | 22.0 | 20.7 | 65.9 | 61.1 |
| &nbsp;&nbsp;Corporate | 2.3 | 2.5 | 6.2 | 7.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | $46.9 | $45.1 | $138.8 | $134.3 |
| **Capital expenditures:** |  |  |  |  |
| &nbsp;&nbsp;Color, Additives and Inks | $8.5 | $8.1 | $21.8 | $19.1 |
| &nbsp;&nbsp;Specialty Engineered Materials | 12.7 | 13.0 | 34.2 | 27.2 |
| &nbsp;&nbsp;Corporate | 3.5 | 3.9 | 8.2 | 34.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;Capital expenditures | $24.7 | $25.0 | $64.2 | $80.8 |

---

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| | | |
|:---|:---|:---|
| | **Total Assets** | **Total Assets** |
| **(In millions)** | **As of September 30, 2025** | **As of December 31, 2024** |
| Color, Additives and Inks | $2686.4 | $2574.2 |
| Specialty Engineered Materials | 2585.3 | 2452.3 |
| Corporate | 784.1 | 784.6 |
| Total assets | $6055.8 | $5811.1 |

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**Note 10 — COMMITMENTS AND CONTINGENCIES**

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 the environmental investigation and remediation of certain 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 may also initiate corrective and preventive environmental projects of our own to support 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 position, results of operations or cash flows.

In September 2007, the United States District Court for the Western District of Kentucky (Court) in the case of *Westlake Vinyls, Inc. v. Goodrich Corporation, et al*., held that Avient must pay the remediation costs at the former Goodrich Corporation Calvert City facility (now largely owned and operated by Westlake Vinyls, Inc. (Westlake Vinyls)), together with certain defense costs of Goodrich Corporation. The rulings also provided that Avient can seek indemnification for contamination attributable to Westlake Vinyls. Following the rulings, the parties to the litigation agreed to settle all claims regarding past environmental costs incurred at the site. The settlement agreement provides a mechanism to pursue allocation of future remediation costs at the Calvert City site 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. Under the agreement, The Geon Company agreed to indemnify Goodrich Corporation for certain environmental costs at the site. Neither Avient nor The Geon Company ever operated the facility.

Since 2009, Avient, along with respondents Westlake Vinyls and Goodrich Corporation, has worked with the United States Environmental Protection Agency (USEPA) to address the remedial activities at the site. The USEPA issued its Record of Decision (ROD) in September 2018. In April 2019, the respondents signed an Administrative Settlement Agreement and Order on Consent with the USEPA to conduct the remedial actions at the site. In February 2020, three companies signed the agreed Consent Decree and remedial action Work Plan, which received Federal Court approval in January 2021.

The largest component of remedial action at Calvert City is construction of a barrier wall around the site. Construction of the initial barrier wall section began in 2024 and was completed in the first quarter of 2025. The remaining wall designs and construction are expected to be completed in phases through 2028. As the Company completes further design work and begins construction on the remaining sections of the barrier wall and other remedial components, the Company will update its accrual, which was $136.9 million as of September 30, 2025, for any new information as it becomes available.

**13 AVIENT CORPORATION**

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Total environmental accruals of $144.5 million and $146.0 million are reflected within *Accrued expenses and other current liabilities* and *Other non-current liabilities* in our *Condensed Consolidated Balance Sheets* as of September 30, 2025 and December 31, 2024, respectively. These undiscounted accruals represent our best estimate of probable future costs that we can reasonably estimate, based upon currently available information and technology and how the remedy will be implemented. It is reasonably possible that we could incur additional costs in excess of the amount accrued, which could be material to our *Condensed Consolidated Statements of Income*. However, such additional costs cannot be currently estimated as they are dependent upon the results of future testing and findings during the execution of remedial design and remedial action, changes in the Calvert City construction timeline, changes in regulations, technology development, new information, newly discovered conditions and other factors that are not currently known.

During the three and nine months ended September 30, 2025, Avient recognized costs of $12.8 million and $19.5 million, primarily associated with the ongoing remedial design and remedial action at Calvert City, compared to costs of $2.4 million and $28.2 million recognized during the three and nine months ended September 30, 2024. These costs are recognized in *Cost of Sales* within the *Condensed Consolidated Statements of Income*.

We received $34.0 million of cash associated with Calvert City insurance recoveries in the first quarter of 2025. The associated gain was recognized in the fourth quarter of 2024. Further insurance recoveries, if any, related to remedial activities at the Calvert City site are expected to be immaterial. During the three and nine months ended September 30, 2025, Avient recognized gains related to insurance and other environmental recoveries of $0.1 million and $2.0 million, respectively, unrelated to Calvert City. These gains are included in *Cost of sales* within the *Consolidated Statements of Income*.

Avient is subject to a broad range of claims, administrative and legal proceedings such as lawsuits that relate to contractual allegations, tax audits, product claims, personal injuries and employment related matters. Although it is not possible to predict with certainty the outcome or cost of these matters, the Company believes our current reserves are appropriate and these matters will not have a material adverse effect on the condensed consolidated financial statements.

**14 AVIENT CORPORATION**

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**<u>ITEM 2.</u> <u>MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</u>**

**Our Business**

We are an innovator of materials solutions to help our customers succeed, while enabling a sustainable world. Our products include specialty engineered materials, performance fibers, advanced composites, and color and additive solutions. We are also a highly specialized developer and manufacturer of performance enhancing additives, liquid colorants and silicone colorants. Headquartered in Avon Lake, Ohio, we have manufacturing sites, research and development facilities, design centers and warehouses around the globe. We provide value to our customers through our ability to link our knowledge of polymers and materials science with our manufacturing and supply chain capabilities to provide value-added solutions to designers, assemblers and processors of materials. When used in this Quarterly Report on Form 10-Q, the terms "we," "us," "our," "Avient" and the "Company" mean Avient Corporation and its consolidated subsidiaries.

**Results of Operations —** *The three and nine months ended September 30, 2025 compared to the three and nine months ended September 30, 2024:*

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended**<br>**September 30,** | **Three Months Ended**<br>**September 30,** | **Variances — Favorable (Unfavorable)** | **Variances — Favorable (Unfavorable)** | **Nine Months Ended**<br>**September 30,** | **Nine Months Ended**<br>**September 30,** | **Variances — <br>Favorable (Unfavorable)** | **Variances — <br>Favorable (Unfavorable)** |
| **(Dollars in millions, except per share data)** | **2025** | **2024** | **Change** | **%<br>Change** | **2025** | **2024** | **Change** | **%<br>Change** |
| Sales | $806.5 | $815.2 | $(8.7) | (1.1)% | $2499.6 | $2493.9 | $5.7 | 0.2% |
| Cost of sales | 561.6 | 553.8 | (7.8) | (1.4)% | 1713.6 | 1696.7 | (16.9) | (1.0)% |
| Gross margin | 244.9 | 261.4 | (16.5) | (6.3)% | 786.0 | 797.2 | (11.2) | (1.4)% |
| Selling and administrative expense | 177.8 | 184.2 | 6.4 | 3.5% | 622.1 | 553.5 | (68.6) | (12.4)% |
| Operating income | 67.1 | 77.2 | (10.1) | (13.1)% | 163.9 | 243.7 | (79.8) | (32.7)% |
| Interest expense, net | (24.2) | (26.9) | 2.7 | 10.0% | (75.8) | (80.1) | 4.3 | 5.4% |
| Other expense, net |  | (0.3) | 0.3 | nm | (0.9) | (2.1) | 1.2 | nm |
| Income before income taxes | 42.9 | 50.0 | (7.1) | (14.2)% | 87.2 | 161.5 | (74.3) | (46.0)% |
| Income tax expense | (10.1) | (11.3) | 1.2 | 10.6% | (20.8) | (39.3) | 18.5 | 47.1% |
| Net income | 32.8 | 38.7 | (5.9) | (15.2)% | 66.4 | 122.2 | (55.8) | (45.7)% |
| Net income attributable to noncontrolling interests | (0.2) | (0.5) | 0.3 | nm | (1.4) | (1.0) | (0.4) | nm |
| Net income attributable to Avient common shareholders | $32.6 | $38.2 | $(5.6) | (14.7)% | $65.0 | $121.2 | $(56.2) | (46.4)% |
| Earnings per share attributable to Avient common shareholders - Basic: | $0.36 | $0.42 |  |  | $0.71 | $1.33 |  |  |
| Earnings per share attributable to Avient common shareholders - Diluted: | $0.36 | $0.41 |  |  | $0.71 | $1.32 |  |  |

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*nm - not meaningful*

*Sales*

Sales decreased $8.7 million, or 1.1%, in the three months ended September 30, 2025 compared to the three months ended September 30, 2024. Favorable foreign currency impacts were 1.8%, while sales, excluding the impacts of foreign exchange, decreased 2.9%. The sales decline was primarily within the consumer, industrial, building and construction and energy end markets, partially offset by sales increases in the defense, healthcare and telecommunications end markets.

Sales increased $5.7 million, or 0.2%, for the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024. Favorable foreign currency impacts were 0.4%, while sales, excluding the impacts of foreign exchange, decreased 0.2%. Sales increases within the healthcare, defense and telecommunications end markets were offset by declines in the consumer, industrial and energy end markets.

*Gross Margin*

Gross margin as a percentage of sales was 30.4% for the three months ended September 30, 2025 compared to 32.1% for the three months ended September 30, 2024. This decrease was driven primarily by higher environmental remediation charges of $10.3 million, net of recoveries, and higher restructuring charges of $3.8 million.

**15 AVIENT CORPORATION**

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Gross margin as a percentage of sales was 31.4% for the nine months ended September 30, 2025 compared to 32.0% for the nine months ended September 30, 2024. This decrease was driven primarily by higher restructuring charges of $14.3 million and higher operating costs, primarily associated with planned maintenance in the second quarter of 2025, partially offset by lower environmental remediation charges of $10.7 million, net of recoveries.

*Selling and administrative expense*

Selling and administrative expense decreased $6.4 million for the three months ended September 30, 2025, primarily driven by productivity initiatives and lower incentive compensation cost. Selling and administrative expense increased $68.6 million for the nine months ended September 30, 2025, primarily driven by an impairment charge of $71.6 million associated with the Company's decision to cease development of the cloud-based enterprise resource planning system, S/4HANA, and charges of $14.7 million associated with unpaid contractual obligations for hosting fees. These charges were partially offset by productivity initiatives and lower incentive compensation cost.

*Interest expense, net*

Interest expense, net decreased $2.7 million and $4.3 million for the three and nine months ended September 30, 2025, respectively, primarily driven by the benefit of reduced interest rates resulting from previous refinancing activity, in addition to prepayments totaling $100.0 million made on our senior secured term loan in the second and third quarters of 2025.

*Income taxes*

During the three months ended September 30, 2025, the Company's effective tax rate was 23.5%, compared to 22.5% in the same period of 2024. The increase was primarily driven by jurisdictional earnings mix, partially offset by lower global intangible low-taxed income (GILTI) tax and a benefit associated with a decrease in previously unrecognized tax benefits resulting from the expiration of statutes of limitations.

For the nine months ended September 30, 2025, the Company's effective tax rate was 23.9%, compared to 24.3% in the prior-year period. The decrease was primarily due to a reduction in GILTI tax and the benefit associated with a decrease of previously unrecognized tax benefits resulting from the expiration of statutes of limitations. These benefits were partially offset by the jurisdictional earnings mix.

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. Our CODM utilizes this measure as an input to determine appropriate resource allocations to our segments in the annual planning process and to periodically assess segment performance, primarily by evaluating actual results in comparison to the annual operating plan and forecast. 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*.

**16 AVIENT CORPORATION**

------

**Sales and Operating Income —** *The three and nine months ended September 30, 2025 compared to the three and nine months ended September 30, 2024*:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended**<br>**September 30,** | **Three Months Ended**<br>**September 30,** | **Variances — Favorable<br>(Unfavorable)** | **Variances — Favorable<br>(Unfavorable)** | **Nine Months Ended**<br>**September 30,** | **Nine Months Ended**<br>**September 30,** | **Variances — Favorable<br>(Unfavorable)** | **Variances — Favorable<br>(Unfavorable)** |
| **(Dollars in millions)** | **2025** | **2024** | **Change** | **% Change** | **2025** | **2024** | **Change** | **% Change** |
| Sales: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Color, Additives and Inks | $509.9 | $521.5 | $(11.6) | (2.2)% | $1568.2 | $1578.8 | $(10.6) | (0.7)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Specialty Engineered Materials | 297.7 | 294.6 | 3.1 | 1.1% | 935.8 | 917.1 | 18.7 | 2.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate | (1.1) | (0.9) | (0.2) | nm | (4.4) | (2.0) | (2.4) | nm |
| Total sales | $806.5 | $815.2 | $(8.7) | (1.1)% | $2499.6 | $2493.9 | $5.7 | 0.2% |
| Operating income: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Color, Additives and Inks | $73.8 | $75.5 | $(1.7) | (2.3)% | $242.7 | $236.4 | $6.3 | 2.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;Specialty Engineered Materials | 37.3 | 36.4 | 0.9 | 2.5% | 124.6 | 132.6 | (8.0) | (6.0)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate | (44.0) | (34.7) | (9.3) | (26.8)% | (203.4) | (125.3) | (78.1) | (62.3)% |
| Total operating income | $67.1 | $77.2 | $(10.1) | (13.1)% | $163.9 | $243.7 | $(79.8) | (32.7)% |

---

<u>Color, Additives and Inks</u>

Sales decreased $11.6 million, or 2.2%, in the three months ended September 30, 2025 compared to the three months ended September 30, 2024. Favorable foreign currency impacts were 2.0%, while sales, excluding the impacts of foreign exchange, decreased 4.2%. The sales decrease was primarily within the consumer, packaging and building and construction end markets, partially offset by a sales increase in the healthcare end market.

Sales decreased $10.6 million, or 0.7%, in the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024. Favorable foreign currency impacts were 0.4%, while sales, excluding the impacts of foreign exchange, decreased 1.1%. The sales decrease was primarily within the consumer, transportation and building and construction end markets, partially offset by a sales increase in the healthcare end market.

Operating income decreased $1.7 million for the three months ended September 30, 2025 compared to the three months ended September 30, 2024. The decrease was primarily driven by lower sales, partially offset by cost savings from productivity and restructuring actions and lower incentive compensation.

Operating income increased $6.3 million for the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024. The increase was primarily driven by improved mix and cost savings from productivity and restructuring actions.

<u>Specialty Engineered Materials</u>

Sales increased $3.1 million, or 1.1%, in the three months ended September 30, 2025 compared to the three months ended September 30, 2024. Favorable foreign currency impacts were 1.6%, while sales, excluding the impacts of foreign exchange, decreased 0.5%. The sales decrease was primarily within the energy, industrial and consumer end markets, partially offset by sales increases in the defense, telecommunications and healthcare end markets.

Sales increased $18.7 million, or 2.0%, in the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024. Favorable foreign currency impacts were 0.5%, while sales, excluding the impacts of foreign exchange, increased 1.5%. The sales increase was primarily within the healthcare, defense and telecommunications end markets, partially offset by declines in the consumer, industrial and energy end markets.

Operating income increased $0.9 million for the three months ended September 30, 2025 compared to the three months ended September 30, 2024, primarily driven by higher sales.

Operating income decreased $8.0 million for the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024. The decrease was driven by higher operating costs, primarily associated with planned maintenance in the second quarter of 2025, and investments in the Company's growth vectors.

<u>Corporate</u>

Corporate costs increased $9.3 million for the three months ended September 30, 2025, primarily driven by higher environmental remediation charges of $10.3 million, net of recoveries, and higher restructuring costs of $4.7 million, partially offset by productivity initiatives and lower incentive compensation.

**17 AVIENT CORPORATION**

------

Corporate costs increased $78.1 million for the nine months ended September 30, 2025, primarily driven by an impairment charge of $71.6 million associated with the Company's decision to cease development of the cloud-based enterprise resource planning system, S/4HANA, charges of $14.7 million associated with unpaid contractual obligations for hosting fees, and higher restructuring costs of $22.0 million. Partially offsetting these charges was lower environmental remediation charges of $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.

***<u>Operating Activities</u> —*** 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 at the Calvert City site and lower restructuring payments.

***<u>Investing Activities</u> —*** Net cash used by investing activities during the nine months ended September 30, 2025 and 2024 of $64.2 million and $79.5 million, respectively, primarily reflects the impact of capital expenditures.

***<u>Financing Activities</u> —*** Net cash used by financing activities for the nine months ended September 30, 2025 of $181.7 million primarily reflects payment on long-term borrowings of $100.2 million and $74.1 million of dividends paid.

Net cash used by financing activities for the nine months ended September 30, 2024 of $93.8 million primarily reflects payment on long-term borrowings of $659.1 million, $70.5 million of dividends paid and $9.6 million of debt financing costs, partially offset by $650.0 million of proceeds from long-term borrowings.

**18 AVIENT CORPORATION**

------

**Debt**

As of September 30, 2025, aggregate maturities of the principal amount of debt for the current year, next four years and thereafter, are as follows:

---

| | |
|:---|:---|
| **(In millions)** | |
| 2025 | $0.2 |
| 2026 | 0.5 |
| 2027 | 0.4 |
| 2028 | 0.4 |
| 2029 | 621.1 |
| Thereafter | 1376.5 |
| &nbsp;&nbsp;Aggregate maturities | $1999.1 |

---

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 credit agreement immediately prior to the Term Loan Amendment.

During the three and nine months ended September 30, 2025, the Company made voluntary prepayments of $50.0 million and $100.0 million, respectively, on its senior secured term loan, which were applied to the principal installments in direct order of maturity. These prepayments were made without penalty or premium.

On June 12, 2025, the Company entered into a revolving credit agreement (the Revolving Credit Agreement) with various financial institutions as lenders, and JPMorgan Chase Bank, N.A., as administrative agent, which replaced our previous credit agreement. The Revolving Credit Agreement provides for a senior secured revolving credit facility of up to $500.0 million, which may be increased by up to $250.0 million, subject to certain conditions. Loans under the Revolving Credit Agreement will mature on June 12, 2030. The Revolving Credit Agreement contains representations and warranties, affirmative covenants, negative covenants and events of default that are substantially similar to those contained in the Company's existing term loan credit agreement.

As of September 30, 2025, we were in compliance with all financial and restrictive covenants pertaining to our debt. For additional information regarding our debt, please see Note 7, *Financing Arrangements,* to the accompanying condensed consolidated financial statements*.*

**Derivatives and Hedging**

We are exposed to market risks, such as changes in foreign currency exchange rates and interest rates. To manage the volatility related to these exposures we may enter into various derivative transactions. For additional information regarding our derivative instruments, please see Note 8, *Derivatives and Hedging,* to the accompanying condensed consolidated financial statements*.*

**Material Cash Requirements**

We have future obligations under various contracts relating to debt and interest payments, operating leases, pension and post-retirement benefit plans, purchase obligations and environmental remediation obligations. During the nine months ended September 30, 2025, we refinanced our senior secured term loan, which reduced the interest rate per annum by 25 basis points, and made voluntary prepayments totaling $100.0 million, refer to Note 7, *Financing Arrangements*. There were no other material changes to these obligations as reported in our Annual Report on Form 10-K for the year ended December 31, 2024.

**19 AVIENT CORPORATION**

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**CAUTIONARY NOTE ON FORWARD-LOOKING STATEMENTS**

In this Quarterly Report on Form 10-Q, 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 "will," "anticipate," "estimate," "expect," "project," "intend," "plan," "believe" and other words and terms of similar meaning in connection with any discussion of future operating or financial condition, performance and/or sales. 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 environmental liabilities; 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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• disruptions, uncertainty or volatility in the credit markets that could adversely impact the availability of credit already arranged and the availability and cost of credit in the future;

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• disruptions or inefficiencies in our supply chain, logistics, or operations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• changes in laws and regulations in jurisdictions where we conduct business, including with respect to plastics and climate change;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• fluctuations in raw material prices, quality and supply, and in energy prices and supply;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• demand for our products and services;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• production outages or material costs associated with scheduled or unscheduled maintenance programs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• unanticipated developments that could occur with respect to contingencies such as litigation and environmental matters;

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• information systems failures and cyberattacks;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to service our indebtedness and restrictions on our current and future operations due to our indebtedness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• amounts for cash and non-cash charges related to restructuring plans that may differ from original estimates, including because of timing changes associated with the underlying actions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• other factors affecting our business beyond our control, including without limitation, changes in the general economy, changes in interest rates, changes in the rate of inflation, geopolitical conflicts, tariffs and any recessionary conditions; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• other factors described in our Annual Report on Form 10-K for the year ended December 31, 2024 under Item 1A, "Risk Factors."

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 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 filed with the Securities and Exchange Commission. 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.

**20 AVIENT CORPORATION**

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**<u>ITEM 3.</u> <u>QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK</u>**

There have been no material changes to exposures to market risk as reported in our Annual Report on Form 10-K for the year ended December 31, 2024.

**<u>ITEM 4.</u> <u>CONTROLS AND PROCEDURES</u>**

**Disclosure controls and procedures**

Avient's management, under the supervision of and with the participation of its Chief Executive Officer and its Chief Financial Officer, has evaluated the effectiveness of the design and operation of Avient'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 the end of the period covered by this Quarterly Report. Based upon this evaluation, Avient's Chief Executive Officer and Chief Financial Officer have concluded that, as of the end of the period covered by this Quarterly Report, its disclosure controls and procedures were effective.

**Changes in internal control over financial reporting**

There were no changes in Avient's internal control over financial reporting during the quarter ended September 30, 2025 that materially affected, or are reasonably likely to materially affect, its internal control over financial reporting.

**PART II — OTHER INFORMATION**

**<u>ITEM 1.</u> <u>LEGAL PROCEEDINGS</u>**

Information regarding certain legal proceedings can be found in Note 10, *Commitments and Contingencies,* to the accompanying condensed consolidated financial statements and is incorporated by reference herein.

**<u>ITEM 1A.</u> <u>RISK FACTORS</u>**

We face a number of risks that could adversely affect our business, results of operations, financial position or cash flows. A discussion of our risk factors can be found in Item 1A, Risk factors, in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024. Except for below, as of September 30, 2025, there have been no material changes to the risk factors that were previously disclosed.

***Changes to foreign trade policy, including new or increased tariffs and changing import/export regulations, could adversely affect our operating results, and the impacts could be material.***

Changes in foreign trade policy, regulatory or economic conditions or in laws governing international trade could materially adversely affect our business. The U.S. has instituted certain changes, and may propose additional changes, in trade policies that include the negotiation or termination of trade agreements, the imposition of higher tariffs on goods exported from the U.S. or imported into the U.S., and other government regulations affecting trade between the U.S. and other countries (such as Canada, Mexico, China, and the European Union) where we conduct our business. Global trade disruption or significant introduction of trade barriers, together with any future downturns in the global economy, could further materially and adversely affect our financial performance.

As a result of policy changes and government proposals, there may be greater restrictions and economic disincentives on international trade. The new tariffs and other changes in U.S. trade policy have triggered retaliatory actions by affected countries, and foreign governments have instituted or are considering imposing tariffs and trade sanctions. Such changes have the potential to adversely impact the global economy, our industry and the global demand for our products, and as a result, could have a negative impact on our business, financial condition and results of operations.

**21 AVIENT CORPORATION**

------

**<u>ITEM 2.</u> <u>UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS</u>**

The table below sets forth information regarding the repurchase of shares of our common shares during the period indicated.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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** <sup>(1)</sup> |
| July 1 to July 31 |  | $— |  | 4957472 |
| August 1 to August 31 |  |  |  | 4957472 |
| September 1 to September 30 |  |  |  | 4957472 |
| Total |  | $— |  |  |

---

<sup>(1)</sup> Our Board of Directors approved a common share repurchase program authorizing Avient to purchase its common shares in August 2008, which share repurchase authorization has been subsequently increased from time to time. On December 9, 2020, we announced that we would increase our share buyback by an additional 5.0 million shares. As of September 30, 2025, approximately 5.0 million shares remained available for purchase under these authorizations, which have no expiration. Purchases of common shares may be made by open market purchases or privately negotiated transactions and may be made pursuant to Rule 10b5-1 plans and accelerated share repurchases.

**<u>ITEM 5.</u> <u>OTHER INFORMATION</u>**

**Trading Arrangements**

None of the Company's directors or officers (as defined in Rule 16a-1(f) promulgated under the Securities Exchange Act of 1934) adopted, modified, or terminated a "Rule 10b5-1 trading arrangement" or a "non-Rule 10b5-1 trading arrangement," as each term is defined in Item 408 of Regulation S-K, during the Company's fiscal quarter ended September 30, 2025.

**22 AVIENT CORPORATION**

------

**<u>ITEM 6.</u> <u>EXHIBITS</u>**

**EXHIBIT INDEX**

---

| | |
|:---|:---|
| **Exhibit No.** | **Exhibit Description** |
| <u>[3.1](https://www.sec.gov/Archives/edgar/data/1122976/000112297621000014/avnt-ex31_20201231.htm)</u> | <u>[Amended and Restated Articles of Incorporation of Avient Corporation (as amended through June 30, 2020) (incorporated by reference to Exhibit 3.1 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2020, SEC File No. 1-16091)](https://www.sec.gov/Archives/edgar/data/1122976/000112297621000014/avnt-ex31_20201231.htm)</u> |
| <u>[3.2](https://www.sec.gov/Archives/edgar/data/1122976/000112297623000028/avnt-exx31_20230511.htm)</u> | <u>[Avient Corporation Regulations (amended and restated effective May 11, 2023) (incorporated by reference to Exhibit 3.1 to the Company's Current Report on Form 8-K, filed May 16, 2023, SEC File No. 1-16091)](https://www.sec.gov/Archives/edgar/data/1122976/000112297623000028/avnt-exx31_20230511.htm)</u> |
| <u>[31.1\*\*](avnt-ex311_20250930.htm)</u> | <u>[Certification of Ashish K. Khandpur, Chairman, 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](avnt-ex311_20250930.htm)</u> |
| <u>[31.2\*\*](avnt-ex312_20250930.htm)</u> | <u>[Certification of Jamie A. Beggs, Senior 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](avnt-ex312_20250930.htm)</u> |
| <u>[32.1\*](avnt-ex321_20250930.htm)</u> | <u>[Certification pursuant to 18 U.S.C. § 1350, adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, as signed by Ashish K. Khandpur, Chairman, President and Chief Executive Officer](avnt-ex321_20250930.htm)</u> |
| <u>[32.2\*](avnt-ex322_20250930.htm)</u> | <u>[Certification pursuant to 18 U.S.C. § 1350, adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, as signed by Jamie A. Beggs, Senior Vice President and Chief Financial Officer](avnt-ex322_20250930.htm)</u> |
| 101.INS | Inline XBRL Instance Document |
| 101.SCH | Inline XBRL Taxonomy Extension Schema Document |
| 101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase Document |
| 101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document |
| 101.LAB | Inline XBRL Taxonomy Extension Label Linkbase Document |
| 101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase Document |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) |
| \* | Furnished herewith. |
| \*\* | Filed herewith. |

---

**23 AVIENT CORPORATION**

------

SIGNATURES

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;November 5, 2025 | AVIENT CORPORATION |
| | /s/ Jamie A. Beggs |
| | Jamie A. Beggs<br>Senior Vice President and Chief Financial Officer |

---

**24 AVIENT CORPORATION**

## Exhibit 31.1

**Exhibit 31.1**

**CERTIFICATION**

I, Ashish K. Khandpur, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.I have reviewed this quarterly report on Form 10-Q of Avient Corporation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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:<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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):<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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.

November 5, 2025

---

| |
|:---|
| /s/ Ashish K. Khandpur |
| Ashish K. Khandpur |
| Chairman, President and Chief Executive Officer |

---

## Exhibit 31.2

**Exhibit 31.2**

**CERTIFICATION**

I, Jamie A. Beggs, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.I have reviewed this quarterly report on Form 10-Q of Avient Corporation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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:<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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):<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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.

November 5, 2025

---

| |
|:---|
| /s/ Jamie A. Beggs |
| Jamie A. Beggs |
| Senior Vice President and Chief Financial Officer |

---

## Exhibit 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 Quarterly Report on Form 10-Q of Avient Corporation (the "Company") for the period ended September 30, 2025, as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Ashish K. Khandpur, Chairman, 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:

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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/ Ashish K. Khandpur |
| Ashish K. Khandpur |
| Chairman, President and Chief Executive Officer |

---

November 5, 2025

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.

## Exhibit 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 Quarterly Report on Form 10-Q of Avient Corporation (the "Company") for the period ended September 30, 2025, as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Jamie A. Beggs, Senior 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:

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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/ Jamie A. Beggs |
| Jamie A. Beggs |
| Senior Vice President and Chief Financial Officer |

---

November 5, 2025

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.

<br>