
		Three Months Ended June 30,						Six Months Ended June 30,							Three Months Ended September 30,				Nine Months Ended September 30,
		2020		2019		2020		2019			2020		2019		2020		2019
Sales	Sales	$	609.1	$	748.2	$	1,320.6	$	1,498.8	Sales	$	924.5	$	705.3	$	2,245.1	$	2,204.1
Cost of sales	Cost of sales	459.4		572.9		999.4		1,155.4		Cost of sales	714.3		544.8		1,713.7		1,700.2
Gross margin	Gross margin	149.7		175.3		321.2		343.4		Gross margin	210.2		160.5		531.4		503.9
Selling and administrative expense	Selling and administrative expense	111.7		129.2		230.4		250.2		Selling and administrative expense	176.7		117.4		407.1		367.6

Operating income	Operating income	38.0		46.1		90.8		93.2		Operating income	33.5		43.1		124.3		136.3
Interest expense, net	Interest expense, net	(16.2)		(16.2)		(25.6)		(32.1)		Interest expense, net	(29.7)		(15.5)		(55.3)		(47.6)

Other income, net	Other income, net	9.5		0.7		11.1		0.8		Other income, net	1.5		0.6		12.6		1.4
Income from continuing operations before income taxes	Income from continuing operations before income taxes	31.3		30.6		76.3		61.9		Income from continuing operations before income taxes	5.3		28.2		81.6		90.1
Income tax expense	Income tax expense	(7.9)		(7.4)		(19.8)		(16.2)		Income tax expense	(2.7)		(4.6)		(22.5)		(20.8)
Net income from continuing operations	Net income from continuing operations	23.4		23.2		56.5		45.7		Net income from continuing operations	2.6		23.6		59.1		69.3
(Loss) income from discontinued operations, net of income taxes		(0.2)		18.9		(0.5)		34.7
Income (loss) from discontinued operations, net of income taxes										Income (loss) from discontinued operations, net of income taxes	0		19.5		(0.5)		54.2
Net income	Net income	$	23.2	$	42.1	$	56.0	$	80.4	Net income	$	2.6	$	43.1	$	58.6	$	123.5
Net income attributable to noncontrolling interests	Net income attributable to noncontrolling interests	(0.4)		—		(0.4)		(0.1)		Net income attributable to noncontrolling interests	(0.9)		(0.1)		(1.3)		(0.2)
Net income attributable to Avient common shareholders	Net income attributable to Avient common shareholders	$	22.8	$	42.1	$	55.6	$	80.3	Net income attributable to Avient common shareholders	$	1.7	$	43.0	$	57.3	$	123.3

Earnings per share attributable to Avient common shareholders - Basic:	Earnings per share attributable to Avient common shareholders - Basic:											Earnings per share attributable to Avient common shareholders - Basic:
Continuing operations	Continuing operations	$	0.25	$	0.30	$	0.63	$	0.59	Continuing operations	$	0.02	$	0.31	$	0.64	$	0.89
Discontinued operations	Discontinued operations	—		0.24		—		0.45		Discontinued operations	0		0.25		0		0.71
Total	Total	$	0.25	$	0.54	$	0.63	$	1.04	Total	$	0.02	$	0.56	$	0.64	$	1.60

Earnings (loss) per share attributable to Avient common shareholders - Diluted:	Earnings (loss) per share attributable to Avient common shareholders - Diluted:											Earnings (loss) per share attributable to Avient common shareholders - Diluted:
Continuing operations	Continuing operations	$	0.25	$	0.30	$	0.63	$	0.58	Continuing operations	$	0.02	$	0.30	$	0.64	$	0.89
Discontinued operations	Discontinued operations	—		0.24		(0.01)		0.45		Discontinued operations	0		0.26		(0.01)		0.69
Total	Total	$	0.25	$	0.54	$	0.62	$	1.03	Total	$	0.02	$	0.56	$	0.63	$	1.58

Weighted-average shares used to compute earnings per common share:	Weighted-average shares used to compute earnings per common share:											Weighted-average shares used to compute earnings per common share:
Basic	Basic	91.4		77.3		88.8		77.5		Basic	91.5		76.9		89.7		77.3
Plus dilutive impact of share-based compensation	Plus dilutive impact of share-based compensation	0.4		0.4		0.6		0.5		Plus dilutive impact of share-based compensation	0.4		0.5		1.0		0.5
Diluted	Diluted	91.8		77.7		89.4		78.0		Diluted	91.9		77.4		90.7		77.8

Anti-dilutive shares not included in diluted common shares outstanding	Anti-dilutive shares not included in diluted common shares outstanding	1.2		0.8		0.8		0.9		Anti-dilutive shares not included in diluted common shares outstanding	0.7		0.6		0.9		0.8

Cash dividends declared per share of common stock	Cash dividends declared per share of common stock	$	0.2025	$	0.1950	$	0.4050	$	0.3900	Cash dividends declared per share of common stock	$	0.2025	$	0.1950	$	0.6075	$	0.5850


		Three Months Ended June 30,						Six Months Ended June 30,							Three Months Ended September 30,				Nine Months Ended September 30,
		2020		2019		2020		2019			2020		2019		2020		2019
Net income	Net income	$	23.2	$	42.1	$	56.0	$	80.4	Net income	$	2.6	$	43.1	$	58.6	$	123.5
Other comprehensive income (loss), net of tax:	Other comprehensive income (loss), net of tax:									Other comprehensive income (loss), net of tax:
Translation adjustments and related hedging instruments	Translation adjustments and related hedging instruments	4.6		1.6		(2.7)		5.8		Translation adjustments and related hedging instruments	59.3		(9.8)		56.6		(4.0)
Cash flow hedges	Cash flow hedges	0.2		(1.9)		(3.2)		(2.9)		Cash flow hedges	0.8		(0.4)		(2.4)		(3.3)

Total other comprehensive income (loss)	Total other comprehensive income (loss)	4.8		(0.3)		(5.9)		2.9		Total other comprehensive income (loss)	60.1		(10.2)		54.2		(7.3)
Total comprehensive income	Total comprehensive income	28.0		41.8		50.1		83.3		Total comprehensive income	62.7		32.9		112.8		116.2
Comprehensive income attributable to noncontrolling interests	Comprehensive income attributable to noncontrolling interests	(0.4)		—		(0.4)		(0.1)		Comprehensive income attributable to noncontrolling interests	(0.9)		(0.1)		(1.3)		(0.2)
Comprehensive income attributable to Avient common shareholders	Comprehensive income attributable to Avient common shareholders	$	27.6	$	41.8	$	49.7	$	83.2	Comprehensive income attributable to Avient common shareholders	$	61.8	$	32.8	$	111.5	$	116.0


		(Unaudited) June 30, 2020		December 31, 2019			(Unaudited) September 30, 2020		December 31, 2019
ASSETS	ASSETS					ASSETS
Current assets:	Current assets:					Current assets:
Cash and cash equivalents	Cash and cash equivalents	$	1,977.0	$	864.7	Cash and cash equivalents	$	577.3	$	864.7
Accounts receivable, net	Accounts receivable, net	310.6		330.0		Accounts receivable, net	514.3		330.0
Inventories, net	Inventories, net	241.5		260.9		Inventories, net	311.4		260.9

Other current assets	Other current assets	54.3		57.7		Other current assets	94.8		57.7
Total current assets	Total current assets	2,583.4		1,513.3		Total current assets	1,497.8		1,513.3
Property, net	Property, net	400.8		407.4		Property, net	674.5		407.4
Goodwill	Goodwill	685.2		685.7		Goodwill	1,280.0		685.7
Intangible assets, net	Intangible assets, net	454.9		469.3		Intangible assets, net	993.0		469.3
Operating lease assets, net	Operating lease assets, net	58.2		63.8		Operating lease assets, net	88.3		63.8

Other non-current assets	Other non-current assets	154.5		133.8		Other non-current assets	176.3		133.8
Total assets	Total assets	$	4,337.0	$	3,273.3	Total assets	$	4,709.9	$	3,273.3

LIABILITIES AND SHAREHOLDERS' EQUITY	LIABILITIES AND SHAREHOLDERS' EQUITY					LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:	Current liabilities:					Current liabilities:
Short-term and current portion of long-term debt	Short-term and current portion of long-term debt	$	18.0	$	18.4	Short-term and current portion of long-term debt	$	18.7	$	18.4
Accounts payable	Accounts payable	262.8		287.7		Accounts payable	403.6		287.7
Current operating lease obligations	Current operating lease obligations	19.3		21.0		Current operating lease obligations	25.3		21.0

Accrued expenses and other current liabilities	Accrued expenses and other current liabilities	324.2		375.4		Accrued expenses and other current liabilities	321.3		375.4
Total current liabilities	Total current liabilities	624.3		702.5		Total current liabilities	768.9		702.5
Non-current liabilities:	Non-current liabilities:					Non-current liabilities:
Long-term debt	Long-term debt	1,849.7		1,210.9		Long-term debt	1,855.2		1,210.9
Pension and other post-retirement benefits	Pension and other post-retirement benefits	55.9		56.6		Pension and other post-retirement benefits	113.8		56.6

Non-current operating lease obligations	Non-current operating lease obligations	39.7		42.8		Non-current operating lease obligations	63.0		42.8

Other non-current liabilities	Other non-current liabilities	215.7		207.8		Other non-current liabilities	297.9		207.8
Total non-current liabilities	Total non-current liabilities	2,161.0		1,518.1		Total non-current liabilities	2,329.9		1,518.1

SHAREHOLDERS' EQUITY	SHAREHOLDERS' EQUITY					SHAREHOLDERS' EQUITY
Avient shareholders’ equity	Avient shareholders’ equity	1,551.3		1,051.9		Avient shareholders’ equity	1,597.0		1,051.9
Noncontrolling interest	Noncontrolling interest	0.4		0.8		Noncontrolling interest	14.1		0.8
Total equity	Total equity	1,551.7		1,052.7		Total equity	1,611.1		1,052.7
Total liabilities and equity	Total liabilities and equity	$	4,337.0	$	3,273.3	Total liabilities and equity	$	4,709.9	$	3,273.3


		Six Months Ended June 30,							Nine Months Ended September 30,
		2020		2019			2020		2019
Operating Activities	Operating Activities					Operating Activities
Net income	Net income	$	56.0	$	80.4	Net income	$	58.6	$	123.5
Adjustments to reconcile net income to net cash provided by operating activities:	Adjustments to reconcile net income to net cash provided by operating activities:					Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization	Depreciation and amortization	40.8		46.9		Depreciation and amortization	74.8		68.4

Accelerated depreciation and amortization						Accelerated depreciation and amortization	2.5		0

Share-based compensation expense	Share-based compensation expense	5.7		5.7		Share-based compensation expense	7.1		8.7

Changes in assets and liabilities, net of the effect of acquisitions:	Changes in assets and liabilities, net of the effect of acquisitions:					Changes in assets and liabilities, net of the effect of acquisitions:
Decrease (increase) in accounts receivable		16.8		(46.1)
Increase in accounts receivable						Increase in accounts receivable	(12.7)		(12.7)
Decrease in inventories	Decrease in inventories	17.4		9.6		Decrease in inventories	53.0		20.0
Decrease in accounts payable		(23.5)		(8.2)
Increase (decrease) in accounts payable						Increase (decrease) in accounts payable	21.3		(28.3)
Decrease in pension and other post-retirement benefits	Decrease in pension and other post-retirement benefits	(12.7)		(4.0)		Decrease in pension and other post-retirement benefits	(14.4)		(7.0)
Increase in post-acquisition earnout liabilities	Increase in post-acquisition earnout liabilities	1.0		—		Increase in post-acquisition earnout liabilities	2.5		20.7
(Decrease) increase in accrued expenses and other assets and liabilities, net		(4.5)		15.1

Increase in accrued expenses and other assets and liabilities, net						Increase in accrued expenses and other assets and liabilities, net	56.1		5.3
Taxes paid on gain on divestiture						Taxes paid on gain on divestiture	(142.0)		0
Payment of post-acquisition date earnout liability	Payment of post-acquisition date earnout liability	(21.0)		—		Payment of post-acquisition date earnout liability	(38.1)		0
Net cash provided by operating activities	Net cash provided by operating activities	76.0		99.4		Net cash provided by operating activities	68.7		198.6
Investing activities	Investing activities					Investing activities
Capital expenditures	Capital expenditures	(21.3)		(26.5)		Capital expenditures	(38.6)		(47.9)
Business acquisitions, net of cash acquired	Business acquisitions, net of cash acquired	—		(119.6)		Business acquisitions, net of cash acquired	(1,342.7)		(119.6)
Net proceeds from divestiture	Net proceeds from divestiture	7.1		—		Net proceeds from divestiture	7.1		0
Net proceeds from other assets	Net proceeds from other assets	5.2		3.9		Net proceeds from other assets	5.2		5.3
Net cash used by investing activities	Net cash used by investing activities	(9.0)		(142.2)		Net cash used by investing activities	(1,369.0)		(162.2)
Financing activities	Financing activities					Financing activities
Debt offering proceeds	Debt offering proceeds	650.0		—		Debt offering proceeds	650.0		0
Borrowings under credit facilities	Borrowings under credit facilities	—		607.4		Borrowings under credit facilities	0		882.4
Repayments under credit facilities	Repayments under credit facilities	—		(548.9)		Repayments under credit facilities	0		(808.5)
Purchase of common shares for treasury	Purchase of common shares for treasury	(13.6)		(26.9)		Purchase of common shares for treasury	(13.6)		(26.9)
Cash dividends paid	Cash dividends paid	(34.3)		(30.7)		Cash dividends paid	(52.8)		(45.7)

Repayment of long-term debt	Repayment of long-term debt	(4.2)		(3.3)		Repayment of long-term debt	(6.0)		(4.9)
Payments of withholding tax on share awards	Payments of withholding tax on share awards	(1.6)		(1.9)		Payments of withholding tax on share awards	(1.9)		(2.0)
Debt financing costs	Debt financing costs	(9.7)		(0.2)		Debt financing costs	(9.5)		(0.2)
Equity offering proceeds, net of underwriting discount and issuance costs	Equity offering proceeds, net of underwriting discount and issuance costs	496.1		—		Equity offering proceeds, net of underwriting discount and issuance costs	496.1		0
Payment of acquisition date earnout liability	Payment of acquisition date earnout liability	(32.9)		—		Payment of acquisition date earnout liability	(50.8)		0

Net cash provided (used) by financing activities	Net cash provided (used) by financing activities	1,049.8		(4.5)		Net cash provided (used) by financing activities	1,011.5		(5.8)
Effect of exchange rate changes on cash	Effect of exchange rate changes on cash	(4.5)		1.9		Effect of exchange rate changes on cash	1.4		(1.9)
Increase (decrease) in cash and cash equivalents		1,112.3		(45.4)
(Decrease) increase in cash and cash equivalents						(Decrease) increase in cash and cash equivalents	(287.4)		28.7
Cash and cash equivalents at beginning of year	Cash and cash equivalents at beginning of year	864.7		170.9		Cash and cash equivalents at beginning of year	864.7		170.9
Cash and cash equivalents at end of period	Cash and cash equivalents at end of period	$	1,977.0	$	125.5	Cash and cash equivalents at end of period	$	577.3	$	199.6


		Common Shares				Shareholders’ Equity																													Common Shares				Shareholders’ Equity
		Common Shares	Common Shares Held in Treasury	Common Shares		Additional Paid-in Capital		Retained Earnings		Common Shares Held in Treasury		Accumulated Other Comprehensive (Loss) Income		Total Avient shareholders' equity		Non-controlling Interests		Total equity			Common Shares	Common Shares Held in Treasury	Common Shares		Additional Paid-in Capital		Retained Earnings		Common Shares Held in Treasury		Accumulated Other Comprehensive (Loss) Income		Total Avient shareholders' equity		Non-controlling Interests		Total equity
Balance at January 1, 2020	Balance at January 1, 2020	122.2	(45.3)	$	1.2	$	1,175.2	$	1,001.2	$	(1,043.1)	$	(82.6)	$	1,051.9	$	0.8	$	1,052.7	Balance at January 1, 2020	122.2	(45.3)	$	1.2	$	1,175.2	$	1,001.2	$	(1,043.1)	$	(82.6)	$	1,051.9	$	0.8	$	1,052.7
Net income	Net income	—	—	—		—		32.8		—		—		32.8		—		32.8		Net income	—	—	—		—		32.8		—		—		32.8		0		32.8
Other comprehensive loss	Other comprehensive loss	—	—	—		—		—		—		(10.7)		(10.7)		—		(10.7)		Other comprehensive loss	—	—	—		—		—		—		(10.7)		(10.7)		—		(10.7)
Noncontrolling interest activity	Noncontrolling interest activity	—	—	—		—				—		—		—		(0.8)		(0.8)		Noncontrolling interest activity	—	—	—		—				—		—		—		(0.8)		(0.8)
Cash dividends declared ⁽¹⁾	Cash dividends declared ⁽¹⁾	—	—	—		—		(18.7)		—		—		(18.7)		—		(18.7)		Cash dividends declared (1)	—	—	—		—		(18.7)		—		—		(18.7)		—		(18.7)
Repurchase of common shares	Repurchase of common shares	—	(1.0)	—		—		—		(13.6)		—		(13.6)		—		(13.6)		Repurchase of common shares	—	(1.0)	—		—		—		(13.6)		—		(13.6)		—		(13.6)
Common shares equity offering	Common shares equity offering	—	15.3	0.2		334.6		—		161.3		—		496.1		—		496.1		Common shares equity offering	—	15.3	0.2		334.6		—		161.3		—		496.1		—		496.1
Share-based compensation and exercise of awards	Share-based compensation and exercise of awards	—	0.2	—		(0.5)		—		1.6		—		1.1		—		1.1		Share-based compensation and exercise of awards	—	0.2	—		(0.5)		—		1.6		—		1.1		—		1.1
Other	Other	—	—	—		—		(0.3)		—		—		(0.3)		—		(0.3)		Other	—	—	—		—		(0.3)		—		—		(0.3)		—		(0.3)
Balance at March 31, 2020	Balance at March 31, 2020	122.2	(30.8)	$	1.4	$	1,509.3	$	1,015.0	$	(893.8)	$	(93.3)	$	1,538.6	$	—	$	1,538.6	Balance at March 31, 2020	122.2	(30.8)	$	1.4	$	1,509.3	$	1,015.0	$	(893.8)	$	(93.3)	$	1,538.6	$	0	$	1,538.6
Net income	Net income	—	—	—		—		22.8		—		—		22.8		0.4		23.2		Net income	—	—	—		—		22.8		—		—		22.8		0.4		23.2
Other comprehensive income	Other comprehensive income	—	—	—		—		—		—		4.8		4.8		—		4.8		Other comprehensive income	—	—	—		—		—		—		4.8		4.8		—		4.8

Cash dividends declared ⁽¹⁾	Cash dividends declared ⁽¹⁾	—	—	—		—		(18.5)		—		—		(18.5)		—		(18.5)		Cash dividends declared (1)	—	—	—		—		(18.5)		—		—		(18.5)		—		(18.5)

Share-based compensation and exercise of awards	Share-based compensation and exercise of awards	—	—	—		3.2		—		0.4		—		3.6		—		3.6		Share-based compensation and exercise of awards	—	0	—		3.2		—		0.4		—		3.6		—		3.6

Balance at June 30, 2020	Balance at June 30, 2020	122.2	(30.8)	$	1.4	$	1,512.5	$	1,019.3	$	(893.4)	$	(88.5)	$	1,551.3	$	0.4	$	1,551.7	Balance at June 30, 2020	122.2	(30.8)	$	1.4	$	1,512.5	$	1,019.3	$	(893.4)	$	(88.5)	$	1,551.3	$	0.4	$	1,551.7
Net income																				Net income	—	—	—		—		1.7		—		—		1.7		0.9		2.6
Other comprehensive income																				Other comprehensive income	—	—	—		—		—		—		60.1		60.1		—		60.1

Cash dividends declared (1)																				Cash dividends declared (1)	—	—	—		—		(18.5)		—		—		(18.5)		—		(18.5)

Share-based compensation and exercise of awards																				Share-based compensation and exercise of awards	—	—	—		1.9		—		0.5		—		2.4		—		2.4
Acquisitions/other																				Acquisitions/other	—	—	—		—		—		—		—		—		12.8		12.8
Balance at September 30, 2020																				Balance at September 30, 2020	122.2	(30.8)	1.4		$	1,514.4	$	1,002.5	$	(892.9)	$	(28.4)	$	1,597.0	$	14.1	$	1,611.1


		Common Shares				Shareholders’ Equity																													Common Shares				Shareholders’ Equity
		Common Shares	Common Shares Held in Treasury	Common Shares		Additional Paid-in Capital		Retained Earnings		Common Shares Held in Treasury		Accumulated Other Comprehensive (Loss) Income		Total Avient shareholders' equity		Non-controlling Interests		Total equity			Common Shares	Common Shares Held in Treasury	Common Shares		Additional Paid-in Capital		Retained Earnings		Common Shares Held in Treasury		Accumulated Other Comprehensive (Loss) Income		Total Avient shareholders' equity		Non-controlling Interests		Total equity
Balance at January 1, 2019	Balance at January 1, 2019	122.2	(44.5)	$	1.2	$	1,166.9	$	472.9	$	(1,018.7)	$	(82.3)	$	540.0	$	0.6	$	540.6	Balance at January 1, 2019	122.2	(44.5)	$	1.2	$	1,166.9	$	472.9	$	(1,018.7)	$	(82.3)	$	540.0	$	0.6	$	540.6
Net income	Net income	—	—	—		—		38.2		—		—		38.2		0.1		38.3		Net income	—	—	—		—		38.2		—		—		38.2		0.1		38.3
Other comprehensive gain	Other comprehensive gain	—	—	—		—		—		—		3.2		3.2		—		3.2		Other comprehensive gain	—	—	—		—		—		—		3.2		3.2		—		3.2

Cash dividends declared (1)	Cash dividends declared (1)	—	—	—		—		(14.8)		—		—		(14.8)		—		(14.8)		Cash dividends declared (1)	—	—	—		—		(14.8)		—		—		(14.8)		—		(14.8)

Share-based compensation and exercise of awards	Share-based compensation and exercise of awards	—	0.1	—		0.5		—		1.1		—		1.6		—		1.6		Share-based compensation and exercise of awards	—	0.1	—		0.5		—		1.1		—		1.6		—		1.6

Balance at March 31, 2019	Balance at March 31, 2019	122.2	(44.4)	$	1.2	$	1,167.4	$	496.3	$	(1,017.6)	$	(79.1)	$	568.2	$	0.7	$	568.9	Balance at March 31, 2019	122.2	(44.4)	$	1.2	$	1,167.4	$	496.3	$	(1,017.6)	$	(79.1)	$	568.2	$	0.7	$	568.9
Net income	Net income	—	—	—		—		42.1		—		—		42.1		—		42.1		Net income	—	—	—		—		42.1		—		—		42.1		0		42.1
Other comprehensive loss	Other comprehensive loss	—	—	—		—		—		—		(0.3)		(0.3)		—		(0.3)		Other comprehensive loss	—	—	—		—		—		—		(0.3)		(0.3)		—		(0.3)

Cash dividends declared (1)	Cash dividends declared (1)	—	—	—		—		(15.2)		—		—		(15.2)		—		(15.2)		Cash dividends declared (1)	—	—	—		—		(15.2)		—		—		(15.2)		—		(15.2)
Repurchase of common shares	Repurchase of common shares	—	(1.0)	—		—		—		(26.9)		—		(26.9)		—		(26.9)		Repurchase of common shares	—	(1.0)	—		—		—		(26.9)		—		(26.9)		—		(26.9)
Share-based compensation and exercise of awards	Share-based compensation and exercise of awards	—	0.1	—		1.8		—		0.7		—		2.5		—		2.5		Share-based compensation and exercise of awards	—	0.1	—		1.8		—		0.7		—		2.5		—		2.5

Balance at June 30, 2019	Balance at June 30, 2019	122.2	(45.3)	$	1.2	$	1,169.2	$	523.2	$	(1,043.8)	$	(79.4)	$	570.4	$	0.7	$	571.1	Balance at June 30, 2019	122.2	(45.3)	$	1.2	$	1,169.2	$	523.2	$	(1,043.8)	$	(79.4)	$	570.4	$	0.7	$	571.1
Net income																				Net income	—	—	—		—		43.0		—		—		43.0		0.1		43.1
Other comprehensive loss																				Other comprehensive loss	—	—	—		—		—		—		(10.2)		(10.2)		—		(10.2)

Cash dividends declared (1)																				Cash dividends declared (1)	—	—	—		—		(14.7)		—		—		(14.7)		—		(14.7)

Share-based compensation and exercise of awards																				Share-based compensation and exercise of awards	—	0	—		2.4		—		0.5		—		2.9		—		2.9

Balance at September 30, 2019																				Balance at September 30, 2019	122.2	(45.3)	$	1.2	$	1,171.6	$	551.5	$	(1,043.3)	$	(89.6)	$	591.4	$	0.8	$	592.2

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 financial statements and accompanying notes included in the Annual Report on Form 10-K for the year ended December 31, 2019 of Avient Corporation, formerly known as PolyOne 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.

On January 1, 2020, the Company adopted Account Standards Update (ASU) 2016-03, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (ASU 2016-13). ASU 2016-13 changed the impairment model for most financial instruments. Previous guidance required the recognition of credit losses based on an incurred loss impairment methodology that reflects losses once the losses are probable. Under ASU 2016-13, the Company is required to use a current expected credit loss (CECL) model that immediately recognizes an estimate of credit losses that are expected to occur over the life of the financial instruments that are in the scope of the update, including trade receivables. The CECL model uses a broader range of reasonable and supportable information in the development of credit loss estimates. The adoption of ASU 2016-13 resulted in a cumulative-effect adjustment to beginning retained earnings that was not material.

On ~~December 19, 2019, we entered into a definitive share purchase agreement (the Agreement) with~~July 1, 2020, the Company completed its acquisition of the equity interests in the global masterbatch business of Clariant AG, a corporation organized and existing under the ~~laws~~law of Switzerland (Clariant), and ~~through one~~the masterbatch assets in India of ~~our wholly owned subsidiaries, a definitive business transfer agreement (the BTA), with~~ Clariant Chemicals (India) Limited, a public limited company incorporated in India and an indirect ~~majority-owned~~majority owned subsidiary of Clariant (Clariant India). ~~Pursuant to the Agreement and the BTA, on July 1, 2020, we completed our acquisition of all of the equity interests in Clariant's global masterbatch~~The business and ~~Clariant India's masterbatch business~~ assets ~~in India. The businesses~~ are collectively referred to as Clariant MB and the acquisitions are collectively referred to as the Clariant MB Acquisition. The Clariant MB Acquisition increased the Company's scale, product depth and geographic reach in its Color, Additives and Inks segment. Clariant MB has leading portfolios of solid and liquid masterbatches that include sustainable solutions for alternative energy, and reduced material requirements for packaging and light weighting. In connection with the completion of the Clariant MB Acquisition and effective as of June 30, 2020, the Company amended its existing Articles of Incorporation to change its name to Avient Corporation. In conjunction with its rebranding and new name, the Company also changed its ticker symbol from “POL” to “AVNT”, effective at the start of trading on July 13, 2020.

Total consideration paid by the Company to complete the Clariant MB Acquisition was $1.3 billion, net of cash, which includes preliminary working capital and net debt adjustments. Clariant's proposed net debt and working capital adjustment reflects a $44.0 million adjustment, representing a payment by the Company to Clariant. The review period for this proposed adjustment is ~~further discussed~~still open and the adjustment will likely be finalized prior to the end of the first quarter of 2021. To finance the purchase of Clariant MB, the Company used $496.1 million in net proceeds from the issuance of common shares in an underwritten public offering completed in February 2020 and $640.5 million in net proceeds from a senior unsecured notes offering completed in May 2020, and funded the balance using the net proceeds of the October 2019 sale of our Performance Products and Solutions business segment (PP&S). For additional details related to the sale of PP&S and the senior unsecured notes offering, refer to Note ~~14,~~3, ~~Subsequent Events~~Discontinued Operations. and Note 9, Financing Arrangements, respectively.

2020, the purchase accounting for the Clariant MB Acquisition is preliminary and the amounts recognized in the financial statements for the Clariant MB Acquisition are provisional. The purchase price allocation adjustments will be made throughout the end of Company’s measurement period, which is not to exceed one year from the acquisition date. During the measurement period, we will continue to obtain information to assist in finalizing the fair value of assets acquired and liabilities assumed, which may differ materially from the preliminary estimates. We are in the ongoing process of conducting a valuation of the assets acquired and liabilities assumed related to the acquisition, including the personal and real property, lease obligations, deferred taxes, pension and other post-employment benefit plan liabilities, and intangible assets. The provisional measurements and preliminary allocation of consideration transferred and determination of fair values of assets acquired and liabilities assumed, reflect estimates, judgments and assumptions made by management. These estimates, judgments and assumptions are subject to change upon final valuation.


	July 1, 2020
Cash and cash equivalents	$	145.1
Accounts receivable	170.8
Inventories	102.3
Other current assets	54.1
Property	267.6
Goodwill	570.1
Intangible assets:
Customer relationships	221.4
Trade names and trademarks	32.0
Patents, technology and other	273.9
Operating lease assets	33.6
Other long-term assets	1.1
Short term debt	(0.4)
Accounts payable	(91.6)
Current operating lease obligations	(3.1)
Accrued expenses and other current liabilities	(81.9)
Long-term debt	(6.7)
Non-current operating lease obligations	(29.0)
Deferred tax liabilities	(58.2)
Pension and other post retirement benefits	(56.7)
Non-controlling interests	(12.7)
Total purchase price consideration	$	1,531.7

The amounts of revenue and income from continuing operations before income taxes of Clariant MB since the acquisition date included in the consolidated income statement for the three months ended September 30, 2020 are $264.2 million and $18.3 million, respectively. Had the Clariant MB Acquisition occurred as of the beginning of fiscal 2019, sales and income from continuing operations before income taxes on a pro forma basis would have been as follows:

The unaudited pro forma financial information has been calculated after applying our accounting policies and adjusting the historical results with pro forma adjustments that assume the acquisition occurred on January 1, 2019. These unaudited pro forma results do not represent financial results realized, nor are they intended to be a projection of future results. In preparation of the pro forma financial information, we eliminated certain historical allocations made by Clariant as they do not represent the stand alone operations of Clariant MB and replaced them with costs more likely to occur as a part of Avient. This elimination removed expense of $7.5 million and $10.0 million during the nine months ended September 30, 2020 and 2019, respectively, while the three months ended September 30, 2020 reflect actual results. The amortization of inventory step-up from the preliminary purchase price allocation was $10.5 million, and is reflected in Cost of sales in the three and nine months ended September 30, 2020. Additionally, we incurred $9.6 million and $10.1 million of costs related to committed financing which are reflected in Interest expense, net in the three and nine months ended September 30, 2020, respectively. The amounts associated with the amortization of inventory step-up and costs related to committed financing were removed from the three and nine months ended September 30, 2020, and presented in the nine months ended September 30, 2019 pro forma financial information.

Our acquisitions of PlastiComp, Inc. (PlastiComp) on May 31, 2018 and Fiber-Line, LLC (Fiber-Line) on January 2, 2019 involve contingent earnout consideration. The PlastiComp earnout ~~has~~had a ceiling of $35.0 million ~~which~~that was reached during the first quarter of 2020 and ~~is reflected within~~ ~~Accrued expenses and other current liabilities~~ onpaid in the ~~Condensed Consolidated Balance Sheets.~~third quarter of 2020. The Fiber-Line earnout is based on 2 annual earnout periods, with the second earnout period target based on year-one results. ~~Amounts related to~~The second earnout period ends on December 31, 2020 and we expect settlement in 2021. A payment of $53.9 million associated with the first Fiber-Line earnout period ~~were paid~~was made in the first quarter of 2020. During the three and nine months ended ~~March 31,~~September 30, 2020, ~~earnout~~the Company recorded charges of ~~$1.0~~$1.5 million ~~were recorded~~and $2.5 million, respectively, associated with the earnouts within Selling and administrative expenseon the Condensed Consolidated Statements of Income that were primarily attributable to improved earnings from the acquisitions. ~~No additional earnout adjustments were recorded in the three months ended June 30, 2020.~~

On October 25, 2019, Avient divested ~~its Performance Products and Solutions business segment (PP&S)~~PP&S to SK Echo Group S.à ~~r.l.~~.r.l. We received total proceeds from the divestiture of $768.9 million, which were net of cash transaction costs and included a working capital adjustment of $7.1 million received in the first quarter of 2020. Upon completion of the transaction, we recognized an after-tax gain of $457.7 million during 2019, which is included

Avient has continuing involvement with the former PP&S business following the close of the transaction. The Company entered into a four-year distribution agreement with the former PP&S business to be the exclusive distributor for certain products, under terms that were similar prior to the disposal transaction. Avient and the former PP&S business have also entered into contract manufacturing and supply agreements for certain products for a two-year period. For the ~~six~~nine months ended ~~June~~September 30, 2020, our net cash outflow related to the agreements was approximately ~~$32~~$45.4 million.

Three Months Ended
June 30, Six Months Ended
June 30,
2020 2019 2020 2019
Sales $ — $ 155.6 $ — $ 304.9
Cost of sales — (123.3) — (244.4)
Selling and administrative expense (0.1) (6.6) (0.5) (13.5)
(Loss) income of discontinued operations before income taxes (0.1) 25.7 (0.5) 47.0
Income tax benefit (expense) (0.1) (6.8) — (12.3)
(Loss) income from discontinued operations, net of income taxes $ (0.2) $ 18.9 $ (0.5) $ 34.7

9 AVIENT CORPORATION


(In millions)	(In millions)	Three Months Ended June 30, 2019		Six Months Ended June 30, 2019		(In millions)	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019
Depreciation and amortization	Depreciation and amortization	$	3.8	$	7.6	Depreciation and amortization	$	1.8	$	9.4
Capital Expenditures	Capital Expenditures	4.7		7.2		Capital Expenditures	4.0		11.2


(In millions)	(In millions)	Specialty Engineered Materials		Color, Additives and Inks		Distribution		Total		(In millions)	Specialty Engineered Materials		Color, Additives and Inks		Distribution		Total
Balance at December 31, 2019	Balance at December 31, 2019	$	236.3	$	447.8	$	1.6	$	685.7	Balance at December 31, 2019	$	236.3	$	447.8	$	1.6	$	685.7

Acquisition of businesses										Acquisition of businesses	0		570.1		0		570.1
Currency translation	Currency translation	(0.7)		0.2		—		(0.5)		Currency translation	0.1		24.1		0		24.2
Balance at June 30, 2020		$	235.6	$	448.0	$	1.6	$	685.2
Balance at September 30, 2020										Balance at September 30, 2020	$	236.4	$	1,042.0	$	1.6	$	1,280.0


		As of June 30, 2020															As of September 30, 2020
(In millions)	(In millions)	Acquisition Cost		Accumulated Amortization		Currency Translation		Net		(In millions)	Acquisition Cost		Accumulated Amortization		Currency Translation		Net
Customer relationships	Customer relationships	$	286.8	$	(96.2)	$	(0.9)	$	189.7	Customer relationships	$	508.2	$	(102.8)	$	10.4	$	415.8
Patents, technology and other	Patents, technology and other	244.0		(87.0)		(1.3)		155.7		Patents, technology and other	549.9		(94.6)		12.4		467.7
Indefinite-lived trade names	Indefinite-lived trade names	109.5		—		—		109.5		Indefinite-lived trade names	109.5		—				109.5
Total	Total	$	640.3	$	(183.2)	$	(2.2)	$	454.9	Total	$	1,167.6	$	(197.4)	$	22.8	$	993.0


			Three Months Ended June 30,						Six Months Ended June 30,								Three Months Ended September 30,				Nine Months Ended September 30,
(In millions)	(In millions)	Condensed Consolidated Statements of Income Location	2020		2019		2020		2019		(In millions)	Condensed Consolidated Statements of Income Location	2020		2019		2020		2019
Lease cost:	Lease cost:										Lease cost:
Operating lease cost	Operating lease cost	Cost of sales	$	2.4	$	2.8	$	4.2	$	5.5	Operating lease cost	Cost of sales	$	4.4	$	2.6	$	9.3	$	7.8
Operating lease cost	Operating lease cost	Selling and administrative expense	4.3		3.3		9.1		6.5		Operating lease cost	Selling and administrative expense	5.4		2.7		14.5		9.6
Total operating lease cost	Total operating lease cost		$	6.7	$	6.1	$	13.3	$	12.0	Total operating lease cost		$	9.8	$	5.3	$	23.8	$	17.4

We often have options to renew lease terms for buildings and other assets. The exercise of lease renewal options are generally at our sole discretion. In addition, certain lease arrangements may be terminated prior to their original expiration date at our discretion. We evaluate renewal and termination options at the lease commencement date to determine if we are reasonably certain to exercise the option on the basis of economic factors. The weighted average remaining lease term for our operating leases as of ~~June~~September 30, 2020 and 2019 was ~~3.9~~5.4 years and ~~4.3~~5.9 years, respectively.

The discount rate implicit within our leases is generally not determinable and, therefore, the Company determines the discount rate based on its incremental borrowing rate. The incremental borrowing rate for our leases is determined based on lease term and currency in which lease payments are made, adjusted for impacts of collateral. The weighted average discount rates used to measure our operating lease liabilities as of ~~June~~September 30, 2020 and 2019 ~~was 4.3%~~were 3.0% and ~~4.7%~~5.2%, respectively.


		As of June 30, 2020			As of September 30, 2020 Operating Leases
(In millions)	(In millions)	Operating Leases		(In millions)
2020	2020	$	12.4	2020	$	8.1
2021	2021	18.2		2021	25.8
2022	2022	13.4		2022	19.4
2023	2023	9.1		2023	13.5
2024	2024	5.0		2024	7.8
Thereafter	Thereafter	7.7		Thereafter	17.8
Total lease payments	Total lease payments	65.8		Total lease payments	92.4
Less amount of lease payment representing interest	Less amount of lease payment representing interest	(6.8)		Less amount of lease payment representing interest	(4.1)
Total present value of lease payments	Total present value of lease payments	$	59.0	Total present value of lease payments	$	88.3


(in millions)	(in millions)	As of June 30, 2020		As of December 31, 2019		(in millions)	As of September 30, 2020		As of December 31, 2019
Finished products	Finished products	$	140.8	$	157.6	Finished products	$	163.7	$	157.6
Work in process	Work in process	9.3		8.0		Work in process	17.7		8.0
Raw materials and supplies	Raw materials and supplies	91.4		95.3		Raw materials and supplies	130.0		95.3
Inventories, net	Inventories, net	$	241.5	$	260.9	Inventories, net	$	311.4	$	260.9


(in millions)	(in millions)	As of June 30, 2020		As of December 31, 2019		(in millions)	As of September 30, 2020		As of December 31, 2019
Land and land improvements	Land and land improvements	$	32.8	$	32.8	Land and land improvements	$	91.6	$	32.8
Buildings	Buildings	236.6		231.8		Buildings	335.6		231.8
Machinery and equipment	Machinery and equipment	757.4		748.9		Machinery and equipment	898.3		748.9
Property, gross	Property, gross	1,026.8		1,013.5		Property, gross	1,325.5		1,013.5
Less accumulated depreciation	Less accumulated depreciation	(626.0)		(606.1)		Less accumulated depreciation	(651.0)		(606.1)
Property, net	Property, net	$	400.8	$	407.4	Property, net	$	674.5	$	407.4

On March 27, 2020, the President of the United States signed into law the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The CARES Act, among other things, includes certain income tax provisions for individuals and corporations, including certain provisions for the amount of interest expense that can be deducted. Pursuant to the CARES Act, the Company expects to be able to deduct all U.S. interest expense incurred in 2020.

During the three and ~~six~~nine months ended ~~June~~September 30, 2020, the Company’s effective tax rate of ~~25.1%~~51.9% and ~~25.9%~~27.6%, respectively, was above the U.S. federal statutory rate of 21.0% primarily due to foreign withholding tax liability accrued associated with the future repatriation of certain current year foreign earnings, the U.S. GILTI tax and certain other non-deductible items. The impact on the effective rate was significant during the third quarter of 2020 because of the low pre-tax income as a result of the impacts associated with the Clariant MB Acquisition. These items were partially offset by the benefit of the U.S. research and development tax credit and favorable mix of earnings in foreign jurisdictions with lower effective tax rates.

During the three ~~and six~~ months ended ~~June~~September 30, 2019, the Company’s effective tax rate of ~~24.0% and 26.1%, respectively,~~16.3% was ~~above~~below the ~~Company's~~U.S. federal statutory rate of 21.0% primarily due to ~~the~~lower statutory tax rate differences on foreign earnings, reversal of uncertain tax positions due to tax audit settlements and U.S. research and development tax credits, which were partially offset by state taxes, GILTI tax, unfavorable tax effects of foreign valuation allowances ~~state taxes~~ and certain other non-deductible items. ~~These~~

During the nine months ended September 30, 2019, the Company’s effective tax rate of 23.1% was above the U.S. federal statutory rate of 21.0% primarily due to state taxes, GILTI tax, unfavorable tax effects of foreign valuation allowances, and certain other non-deductible items, which were partially offset by ~~the benefit~~lower statutory tax rate differences on foreign earnings, reversal of ~~the~~uncertain tax positions due to tax audit settlements, and U.S. research and development tax ~~credit and favorable mix of earnings in foreign jurisdictions with lower effective tax rates.~~credits.


As of June 30, 2020 (in millions)		Principal Amount		Unamortized discount and debt issuance cost		Net Debt		Weighted average interest rate
As of September 30, 2020 (in millions)										As of September 30, 2020 (in millions)	Principal Amount		Unamortized discount and debt issuance cost		Net Debt		Weighted average interest rate
Senior secured revolving credit facility due 2022	Senior secured revolving credit facility due 2022	$	—	$	—	$	—	—	%	Senior secured revolving credit facility due 2022	$	0	$	0	$	0	0	%
Senior secured term loan due 2026	Senior secured term loan due 2026	621.2		8.7		612.5		2.81	%	Senior secured term loan due 2026	619.6		8.3		611.3		2.51	%
5.25% senior notes due 2023	5.25% senior notes due 2023	600.0		3.1		596.9		5.25	%	5.25% senior notes due 2023	600.0		2.8		597.2		5.25	%
5.75% senior notes due 2025	5.75% senior notes due 2025	650.0		8.9		641.1		5.75	%	5.75% senior notes due 2025	650.0		8.8		641.2		5.75	%
Other Debt	Other Debt	17.2		—		17.2				Other Debt	24.2		0		24.2
Total Debt	Total Debt	1,888.4		20.7		1,867.7				Total Debt	1,893.8		19.9		1,873.9
Less short-term and current portion of long-term debt	Less short-term and current portion of long-term debt	18.0		—		18.0				Less short-term and current portion of long-term debt	18.7		0		18.7
Total long-term debt, net of current portion	Total long-term debt, net of current portion	$	1,870.4	$	20.7	$	1,849.7			Total long-term debt, net of current portion	$	1,875.1	$	19.9	$	1,855.2


As of December 31, 2019 (in millions)	As of December 31, 2019 (in millions)	Principal Amount		Unamortized discount and debt issuance cost		Net Debt		Weighted average interest rate		As of December 31, 2019 (in millions)	Principal Amount		Unamortized discount and debt issuance cost		Net Debt		Weighted average interest rate
Senior secured revolving credit facility due 2022	Senior secured revolving credit facility due 2022	$	—	$	—	$	—	3.90	%	Senior secured revolving credit facility due 2022	$	0	$	0	$	0	3.90	%
Senior secured term loan due 2026	Senior secured term loan due 2026	624.5		9.8		614.7		4.01	%	Senior secured term loan due 2026	624.5		9.8		614.7		4.01	%
5.25% senior notes due 2023	5.25% senior notes due 2023	600.0		3.7		596.3		5.25	%	5.25% senior notes due 2023	600.0		3.7		596.3		5.25	%
Other Debt	Other Debt	18.3		—		18.3				Other Debt	18.3		0		18.3
Total Debt	Total Debt	1,242.8		13.5		1,229.3				Total Debt	1,242.8		13.5		1,229.3
Less short-term and current portion of long-term debt	Less short-term and current portion of long-term debt	18.4		—		18.4				Less short-term and current portion of long-term debt	18.4		0		18.4
Total long-term debt, net of current portion	Total long-term debt, net of current portion	$	1,224.4	$	13.5	$	1,210.9			Total long-term debt, net of current portion	$	1,224.4	$	13.5	$	1,210.9

On May 13, 2020, the Company entered into an indenture (the Indenture) with U.S. Bank National Association, as trustee (the Trustee), relating to the issuance by the Company of $650 million aggregate principal amount of 5.75% Senior Notes due 2025 (the Notes). The Notes were sold on May 13, 2020 in a private transaction exempt from the registration requirements of the Securities Act of 1933 (the Securities Act), have not been and will not be registered under the Securities Act, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act. The Company received ~~$640.8~~net proceeds of $640.5 million from the Notes offering, net of debt issuance costs, which were recorded on the balance sheet and are being amortized into Interest expense, net on the Condensed Consolidated Statements of Income over the term of the debt. Also included in Interest expense, net in the three and nine months ended September 30, 2020, are costs associated with committed financing of $9.6 million and $10.1 million, respectively, related to the Clariant MB acquisition.

The agreements governing our senior secured revolving credit facility, our senior secured term loan, and the indentures and credit agreements governing other debt, contain a number of customary financial and restrictive covenants that, among other things, limit our ability to: consummate asset sales, incur additional debt or liens, consolidate or merge with any entity or transfer or sell all or substantially all of our assets, pay dividends or make certain other restricted payments, make investments, enter 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 ~~June~~September 30, 2020, we were in compliance with all covenants.

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


		Three Months Ended June 30, 2020										Three Months Ended June 30, 2019											Three Months Ended September 30, 2020				Three Months Ended September 30, 2019
(In millions)	(In millions)	Sales to External Customers		Total Sales		Operating Income		Sales to External Customers		Total Sales		Operating Income		(In millions)	Sales to External Customers		Total Sales		Operating Income		Sales to External Customers		Total Sales		Operating Income
Color, Additives and Inks	Color, Additives and Inks	$	225.9	$	226.8	$	32.3	$	266.0	$	267.5	$	42.3	Color, Additives and Inks	$	492.1	$	493.8	$	50.5	$	244.7	$	246.3	$	38.4
Specialty Engineered Materials	Specialty Engineered Materials	146.3		158.8		17.0		180.3		195.3		24.9		Specialty Engineered Materials	156.6		174.1		24.7		169.6		183.0		19.5
Distribution	Distribution	234.6		238.8		14.6		301.9		306.6		20.1		Distribution	272.1		276.9		17.5		291.0		295.9		18.8
Corporate and eliminations	Corporate and eliminations	2.3		(15.3)		(25.9)		—		(21.2)		(41.2)		Corporate and eliminations	3.7		(20.3)		(59.2)		0		(19.9)		(33.6)
Total	Total	$	609.1	$	609.1	$	38.0	$	748.2	$	748.2	$	46.1	Total	$	924.5	$	924.5	$	33.5	$	705.3	$	705.3	$	43.1


		Six Months Ended June 30, 2020										Six Months Ended June 30, 2019											Nine Months Ended September 30, 2020				Nine Months Ended September 30, 2019
(In millions)	(In millions)	Sales to External Customers		Total Sales		Operating Income		Sales to External Customers		Total Sales		Operating Income		(In millions)	Sales to External Customers		Total Sales		Operating Income		Sales to External Customers		Total Sales		Operating Income
Color, Additives and Inks	Color, Additives and Inks	$	481.3	$	483.3	$	72.8	$	528.1	$	530.8	$	81.8	Color, Additives and Inks	$	973.4	$	977.1	$	123.3	$	772.8	$	777.1	$	120.2
Specialty Engineered Materials	Specialty Engineered Materials	315.5		344.1		39.3		356.1		385.2		45.4		Specialty Engineered Materials	472.1		518.2		64.0		525.7		568.2		64.9
Distribution	Distribution	518.0		528.3		34.0		614.6		623.9		39.6		Distribution	790.1		805.2		51.5		905.6		919.8		58.4
Corporate and eliminations	Corporate and eliminations	5.8		(35.1)		(55.3)		—		(41.1)		(73.6)		Corporate and eliminations	9.5		(55.4)		(114.5)		0		(61.0)		(107.2)
Total	Total	$	1,320.6	$	1,320.6	$	90.8	$	1,498.8	$	1,498.8	$	93.2	Total	$	2,245.1	$	2,245.1	$	124.3	$	2,204.1	$	2,204.1	$	136.3


		Total Assets							Total Assets
(In millions)	(In millions)	As of June 30, 2020		As of December 31, 2019		(In millions)	As of September 30, 2020		As of December 31, 2019
Color, Additives and Inks	Color, Additives and Inks	$	1,193.9	$	1,215.8	Color, Additives and Inks	$	2,980.3	$	1,215.8
Specialty Engineered Materials	Specialty Engineered Materials	755.6		774.0		Specialty Engineered Materials	727.3		774.0
Distribution	Distribution	242.8		235.6		Distribution	242.5		235.6
Corporate and eliminations	Corporate and eliminations	2,144.7		1,047.9		Corporate and eliminations	759.8		1,047.9

Total assets	Total assets	$	4,337.0	$	3,273.3	Total assets	$	4,709.9	$	3,273.3

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 ensure safe and lawful activities at our operations. We believe that compliance with current governmental regulations at all levels will not have a material adverse effect on our financial 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. We will adjust our accrual, in the future, consistent with any such future allocation of costs. Additionally, we continue to pursue available insurance coverage related to this matter and recognize gains as we receive reimbursement.

Since 2009, Avient, along with respondents Westlake Vinyls, and Goodrich Corporation, have worked with the United States Environmental Protection Agency (USEPA) on the investigation of contamination at the site as well as the evaluation of potential remedies to address the contamination. The USEPA issued its Record of Decision (ROD) in September 2018, selecting a remedy consistent with our accrual assumptions. 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, the 3 companies signed the agreed Consent Decree and remedial action Work Plan, which are currently under USEPA/Department of Justice final review. Our current reserve of ~~$97.2~~$108.2 million is consistent with the USEPA's estimates contained in the ROD.

On March 13, 2013, Avient acquired Spartech Corporation (Spartech). One of Spartech's subsidiaries, Franklin-Burlington Plastics, Inc. (Franklin-Burlington), operated a plastic resin compounding facility in Kearny, New Jersey, located adjacent to the Passaic River. The USEPA requested that companies located in the area of the lower Passaic River, including Franklin-Burlington, cooperate in an investigation of contamination of approximately 17 miles of the lower Passaic River Study Area (LPRSA). In response, Franklin-Burlington and approximately 70 other companies (collectively, the Cooperating Parties) agreed, pursuant to an Administrative Order on Consent (AOC) with the USEPA, to assume responsibility for development of a Remedial Investigation and Feasibility Study of the LPRSA. Franklin-Burlington has not admitted to any liability or agreed to bear any other costs for remediation or natural resource damage.

In 2015, the Cooperating Parties submitted to the USEPA a remedial investigation report and feasibility study for the LPRSA and are currently engaged in technical discussions with the USEPA regarding those documents. Neither of those documents contemplates who is responsible for remediation or how such costs might be allocated to PRPs. In March 2016, the USEPA issued a ROD selecting a remedy for an 8-mile portion of the LPRSA at an estimated and discounted cost of $1.4 billion. On March 31, 2016, the USEPA sent a Notice of Potential Liability to over 100 companies, including Franklin-Burlington, and several municipalities for this 8-mile portion. In September 2016, the USEPA reached an agreement with Occidental Chemical Corporation (OCC), which orders OCC to conduct the remedial design for the lower 8-mile portion of the Passaic River. In September 2017, the USEPA sent a letter to over 80 companies, including Franklin-Burlington, indicating that the USEPA would engage the recipients in an allocation process for the lower 8 miles of the LPRSA and has engaged a third-party allocator as part of that process. Along with other parties, Franklin-Burlington is participating in the development of this allocation process with the allocator retained by the USEPA, and this process is expected to continue through at least 2020. On June 30, 2018, OCC, independent of the USEPA, filed suit against 100 named entities, including Franklin-Burlington, seeking contribution for past and future costs associated with the remediation of the lower 8-mile portion of the LPRSA.

Based on the currently available information, we have not identified evidence that Franklin-Burlington contributed ~~any of~~materially to the ~~primary contaminants of concern to~~contamination into the lower Passaic River. A timeline as to when an allocation of the remedial costs may be determined is not yet known and any final allocation to Franklin-Burlington has not been determined. ~~As a result~~Based upon the information provided to it as part of ~~these uncertainties, we are unable~~the allocation process for the lower eight miles of the LPRSA, Franklin-Burlington has determined that the current best estimate of any allocation of the liability that may be assigned to ~~estimate a liability related to this matter and, as of June 30, 2020, we have~~Franklin-Burlington will not ~~accrued for costs of remediation related~~be material to the ~~lower Passaic River.~~consolidated financial statements.

During the three and ~~six~~nine months ended ~~June~~September 30, 2020, Avient recognized ~~$3.1~~$15.8 million and ~~$3.5~~$19.3 million of expense related to environmental remediation costs, compared to ~~$1.9~~$6.4 million and ~~$4.0~~$10.4 million recognized during the three and ~~six~~nine months ended ~~June~~September 30, 2019, respectively. During the ~~three and six~~nine months ended ~~June~~September 30, 2020, Avient received ~~$8.5 million and~~ $8.7 million of insurance recoveries for previously incurred environmental ~~costs, respectively. NaN such reimbursements were recovered during~~costs. During the~~three and six~~ nine months ended ~~June~~September 30, 2019,. Avient received $4.0 million of insurance recoveries for previously incurred environmental costs. These expenses and insurance recoveries are included within Cost of sales within our Condensed Consolidated Statements of Income. Insurance recoveries are recognized as a gain when received.

Our Condensed Consolidated Balance Sheets include accruals totaling ~~$109.6~~$122.3 million and $112.0 million as of ~~June~~September 30, 2020 and December 31, 2019, respectively, based on our estimates of probable future environmental expenditures relating to previously contaminated sites. These undiscounted amounts are included in Accrued expenses and other current liabilities and Other non-current liabilities on the accompanying Condensed Consolidated Balance Sheets. The accruals represent our best estimate of probable future costs that we can reasonably estimate, based upon currently available information and technology and our view of the most likely remedy. Depending upon the results of future testing, completion and results of remedial investigation and feasibility studies, the ultimate remediation alternatives undertaken, changes in regulations, technology development, new information, newly

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 ~~they~~our current reserves are appropriate and these matters will not have a material adverse effect on the condensed consolidated financial statements.

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.

During October and December 2018, as a means of mitigating the impact of currency fluctuations on our euro investments in foreign entities, we executed a total of 6 cross currency swaps, in which we will pay fixed-rate interest in euros and receive fixed-rate interest in U.S. dollars with a combined notional amount of 250.0 million euros and which mature in March 2023. ~~This~~In August and September 2020, we executed an additional 5 cross currency swaps, which are structured similarly to those executed in 2018. These swaps have a combined notional amount of 677.0 million euros, which mature in May 2025. These effectively ~~converts~~convert a portion of our U.S. dollar denominated fixed-rate debt to euro denominated fixed-rate debt. That conversion resulted in gains of ~~$2.0~~$2.8 million and ~~$4.1~~$6.9 million for the three and ~~six~~nine months ended ~~June~~September 30, 2020, compared to gains of ~~$2.0~~$2.1 million and ~~$4.1~~$6.2 million for the three and ~~six~~nine months ended ~~June~~September 30, 2019, respectively. These gains were recognized within Interest expense, net within the Condensed Consolidated Statements of Income.

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 the derivative instruments that are designated and qualify as hedges of net investments in foreign operations 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 ~~six~~nine months ended ~~June~~September 30, 2020, a loss of ~~$2.8~~$11.7 million and a ~~gain~~loss of ~~$6.0~~$5.7 million were recognized within translation adjustments in AOCI, net of tax, compared to gains of ~~$0.3~~$8.1 million and ~~$4.9~~$13.0 million for the three and ~~six~~nine months ended ~~June~~September 30, 2019, respectively.

In August 2018, we entered into 2 interest rate swaps with a combined notional amount of $150.0 million to manage the variability of cash flows in the interest rate payments associated with our existing LIBOR-based interest payments, effectively converting $150.0 million of our floating rate debt to a fixed rate. We began to receive floating rate interest payments based upon one-month U.S. dollar LIBOR and in return are obligated to pay interest at a fixed rate of 2.732% until November 2022. We have designated these interest rate swap contracts as cash flow hedges pursuant to Accounting Standards Codification Topic 815, Derivatives and Hedging. The net interest payments accrued each month for these highly effective hedges are reflected in net income as adjustments of interest expense and the remaining change in the fair value of the derivatives is recorded as a component of AOCI. The amount of expense recognized within Interest expense, net in our Condensed Consolidated Statements of Income was ~~$0.8~~$1.0 million and ~~$1.2~~$2.2 million for the three and ~~six~~nine months ended ~~June~~September 30, 2020, compared to $0.1 million and ~~$0.2~~$0.3 million for the three and ~~six~~nine months ended ~~June~~September 30, 2019, respectively. For the three and ~~six~~nine months ended ~~June~~September 30, 2020, a gain of ~~$0.2~~$0.8 million and a loss of ~~$3.2~~$2.4 million were recognized in AOCI, net of tax, compared to losses of ~~$1.9~~$0.4 million and ~~$2.9~~$3.3 million for the three and ~~six~~nine months ended ~~June~~September 30, 2019, respectively.

(In millions)

Balance Sheet Location

As of June 30, 2020

As of December 31, 2019

(In millions)

Balance Sheet Location

As of

September 30, 2020

As of December 31, 2019

Assets

Cross Currency Swaps (Net Investment Hedge)

Other non-current assets

22.8

14.7

Cross Currency Swaps (Net Investment Hedge)

Other non-current assets

7.2

14.7

Liabilities

Interest Rate Swap (Cash Flow Hedge)

Other non-current liabilities

9.4

5.1

Interest Rate Swap (Cash Flow Hedge)

Other non-current liabilities

8.4

5.1

In the second quarter of 2020, we offered lump sum payments to certain eligible participants of our US Qualified Pension Plan (the Plan), which resulted in a settlement as defined by ASC 715, Compensation-Retirement Benefits. The settlement triggered an interim remeasurement of the Plan’s assets and benefit obligations. As a result, we recorded a gain of $6.9 million, inclusive of the gain recognized on settlement and the mark-to-market remeasurement gain, within our Condensed Consolidated Statements of Income in the Other Income, net line item.

On July 1, 2020, the Company completed its acquisition of all the equity interests in the global masterbatch business of Clariant AG and the masterbatch business assets in India of Clariant India as part of the Clariant MB Acquisition. The Clariant MB Acquisition increases the Company's scale, product depth and geographic reach in its Color, Additives and Inks segment. Clariant MB has leading portfolios of solid and liquid masterbatches that include sustainable solutions for alternative energy, and reduced requirements for packaging and light weighting. In connection with the completion of the Clariant MB Acquisition and effective as of June 30, 2020, the Company amended its existing Articles of Incorporation to change its name to Avient Corporation. In conjunction with its rebranding and new name, the Company also changed it's ticker symbol from "POL" to "AVNT" effective at the start of trading on July 13, 2020.

Total consideration paid by the Company to complete the Clariant MB Acquisition was $1.4 billion, net of cash, which is preliminary and subject to working capital and net debt adjustments. To finance the all-cash purchase, the Company used $496.1 million in net proceeds from the issuance of common shares in an underwritten public offering completed in February 2020, $640.8 million in net proceeds from a senior unsecured notes offering that was completed in May 2020, with the balance from the net proceeds of the October 2019 sale of PP&S. For additional details related to the sale of PP&S and the senior unsecured notes offering, refer to Note 3, ~~Discontinued Operations~~ ~~and Note 9,~~ ~~Financing Arrangements, respectively~~. The Clariant MB Acquisition will be accounted for under the acquisition method of accounting and the purchase price will be allocated to the identifiable assets and liabilities. Given the timing of the Clariant MB Acquisition, a preliminary price allocation is not yet available.

Unaudited, estimated pro forma net sales and net income were approximately $4.0 billion and $58.0 million, respectively, for fiscal year 2019. The unaudited pro forma net sales and net income amounts assume that the Clariant MB Acquisition had occurred as of the beginning of fiscal year 2019. This unaudited pro forma information is preliminary and subject to change, is for informational purposes only, and is not necessarily indicative of the operating results that would have occurred had the Clariant MB Acquisition been consummated at the beginning of the 2019, nor is it necessarily indicative of future operating results.

In connection with the Clariant MB Acquisition, on December 19, 2019, we had entered into a Commitment Letter (the Commitment Letter) with a number of banks (the Commitment Parties), pursuant to which the Commitment Parties provided a 12-month commitment for a $1.15 billion senior unsecured bridge loan facility (the Bridge Facility) for purposes of funding the Clariant MB Acquisition. In lieu of borrowing under the Bridge Facility, we used a portion of the net proceeds from the sale of PP&S, the net proceeds from the issuance of common shares in an underwritten public offering, and the net proceeds from a senior unsecured notes offering to finance the Clariant MB Acquisition, as described above. In connection with the closing of the Clariant MB Acquisition and pursuant to the Commitment Letter, on July 1, 2020, we paid a net fee of $9.7 million to the Commitment Parties.

We are a premier provider of specialized and sustainable material solutions that transform customer challenges into opportunities, bringing new products to life for a better world. Our products include specialty engineered materials, advanced composites, color and additive systems and polymer distribution. We are also a highly specialized developer and manufacturer of performance enhancing additives, liquid colorants, and fluoropolymer and silicone colorants. Headquartered in Avon Lake, Ohio, we have employees at sales, manufacturing and distribution facilities across North America, South America, Europe and Asia. We provide value to our customers through our ability to link our knowledge of polymers and formulation technology with our manufacturing and supply chain capabilities to provide value-added solutions to designers, assemblers and processors of plastics (our customers). When used in this Quarterly Report on Form 10-Q, the terms “we,” “us,” “our,” “Avient” and the “Company” mean Avient Corporation, formerly known as PolyOne Corporation, and its consolidated subsidiaries.


		Three Months Ended June 30,						Six Months Ended June 30,							Three Months Ended September 30,				Nine Months Ended September 30,
(In millions)	(In millions)	2020		2019		2020		2019		(In millions)	2020		2019		2020		2019
Sales	Sales	$	609.1	$	748.2	$	1,320.6	$	1,498.8	Sales	$	924.5	$	705.3	$	2,245.1	$	2,204.1
Operating income	Operating income	38.0		46.1		90.8		93.2		Operating income	33.5		43.1		124.3		136.3
Net income from continuing operations	Net income from continuing operations	23.4		23.2		56.5		45.7		Net income from continuing operations	2.6		23.6		59.1		69.3
(Loss) income from discontinued operations, net of income taxes		(0.2)		18.9		(0.5)		34.7
Income (loss) from discontinued operations, net of income taxes										Income (loss) from discontinued operations, net of income taxes	—		19.5		(0.5)		54.2
Net income	Net income	$	23.2	$	42.1	$	56.0	$	80.4	Net income	$	2.6	$	43.1	$	58.6	$	123.5

Net income attributable to Avient common shareholders	Net income attributable to Avient common shareholders	$	22.8	$	42.1	$	55.6	$	80.3	Net income attributable to Avient common shareholders	$	1.7	$	43.0	$	57.3	$	123.3

We are closely monitoring the impact of the ~~outbreak of~~ COVID-19 pandemic on all aspects of our business, including how it will impact our employees, customers, supply chain and distribution network. Although we are unable to predict the ultimate impact of the COVID-19 outbreak at this time, the pandemic has adversely affected, and is expected to continue to adversely affect, our business, the results of operations, financial position and cash flows. While we concluded there were no indicators of impairment as of ~~June~~September 30, 2020, any significant sustained adverse change in financial results or macroeconomic conditions could result in future impairments of long-lived assets. The extent to which our operations may continue to be impacted by the COVID-19 pandemic will depend largely on future developments, which are highly uncertain and cannot be accurately predicted, including new information which may emerge concerning the severity of the outbreak and actions by government authorities to contain the outbreak or treat its impact. ~~Furthermore, the impacts of a potential worsening of global economic conditions and the continued disruptions to and volatility in the financial markets remain unknown.~~

On July 1, 2020, the Company completed the Clariant MB Acquisition. The Clariant MB Acquisition ~~increases~~increased the Company's scale, product depth and geographic reach in its Color, Additives and Inks segment. Clariant MB ~~includes~~has leading portfolios of solid and liquid masterbatches ~~along with supporting services~~ that ~~are aligned with the megatrends of the future, including~~include sustainable solutions for alternative energy, and reduced material requirements for packaging and light weighting. In connection with the completion of the Clariant MB Acquisition and effective as of June 30, 2020, the Company amended its existing Articles of Incorporation to change its name to Avient Corporation. In conjunction with its rebranding and new name, the Company also changed its ticker symbol from "POL" to "AVNT", effective at the start of trading on July 13, 2020.

Total consideration paid by the Company to complete the Clariant MB Acquisition was ~~$1.4~~$1.3 billion, net of cash acquired, which isincludes preliminary ~~and subject to~~ working capital and net debt adjustments. To finance the ~~all-cash~~ purchase of Clariant MB, the Company used $496.1 million in net proceeds from the issuance of common shares in an underwritten public offering completed in February 2020 ~~$640.8~~and $640.5 million in net proceeds from a senior unsecured notes offering ~~that was~~ completed in May 2020, ~~with~~and funded the balance ~~from~~using the net proceeds of the October 2019 sale of PP&S.


		Three Months Ended June 30,						Variances — Favorable (Unfavorable)						Six Months Ended June 30,								Variances — Favorable (Unfavorable)						Three Months Ended September 30,				Variances — Favorable (Unfavorable)				Nine Months Ended September 30,	Variances — Favorable (Unfavorable)
(Dollars in millions, except per share data)	(Dollars in millions, except per share data)	2020		2019		Change		% Change		2020		2019		Change		% Change		(Dollars in millions, except per share data)	2020		2019		Change		% Change			2020		2019		Change		% Change
Sales	Sales	$	609.1	$	748.2	$	(139.1)	(18.6)	%	$	1,320.6	$	1,498.8	$	(178.2)	(11.9)	%	Sales	$	924.5	$	705.3	$	219.2	31.1		%	$	2,245.1	$	2,204.1	$	41.0	1.9	%
Cost of sales	Cost of sales	459.4		572.9		113.5		19.8	%	999.4		1,155.4		156.0		13.5	%	Cost of sales	714.3		544.8		(169.5)		(31.1)		%	1,713.7		1,700.2		(13.5)		(0.8)	%
Gross margin	Gross margin	149.7		175.3		(25.6)		(14.6)	%	321.2		343.4		(22.2)		(6.5)	%	Gross margin	210.2		160.5		49.7		31.0		%	531.4		503.9		27.5		5.5	%
Selling and administrative expense	Selling and administrative expense	111.7		129.2		17.5		13.5	%	230.4		250.2		19.8		7.9	%	Selling and administrative expense	176.7		117.4		(59.3)		(50.5)		%	407.1		367.6		(39.5)		(10.7)	%

Operating income	Operating income	38.0		46.1		(8.1)		(17.6)	%	90.8		93.2		(2.4)		(2.6)	%	Operating income	33.5		43.1		(9.6)		(22.3)		%	124.3		136.3		(12.0)		(8.8)	%
Interest expense, net	Interest expense, net	(16.2)		(16.2)		—		—	%	(25.6)		(32.1)		6.5		20.2	%	Interest expense, net	(29.7)		(15.5)		(14.2)		(91.6)		%	(55.3)		(47.6)		(7.7)		(16.2)	%

Other income, net	Other income, net	9.5		0.7		8.8		nm		11.1		0.8		10.3		nm		Other income, net	1.5		0.6		0.9		nm			12.6		1.4		11.2		nm
Income from continuing operations before income taxes	Income from continuing operations before income taxes	31.3		30.6		0.7		2.3	%	76.3		61.9		14.4		23.3	%	Income from continuing operations before income taxes	5.3		28.2		(22.9)		(81.2)		%	81.6		90.1		(8.5)		(9.4)	%
Income tax expense	Income tax expense	(7.9)		(7.4)		(0.5)		(6.8)	%	(19.8)		(16.2)		(3.6)		(22.2)	%	Income tax expense	(2.7)		(4.6)		1.9		41.3		%	(22.5)		(20.8)		(1.7)		(8.2)	%
Net income from continuing operations	Net income from continuing operations	23.4		23.2		0.2		0.9	%	56.5		45.7		10.8		23.6	%	Net income from continuing operations	2.6		23.6		(21.0)		(89.0)		%	59.1		69.3		(10.2)		(14.7)	%
(Loss) income from discontinued operations, net of income taxes		(0.2)		18.9		(19.1)		nm		(0.5)		34.7		(35.2)		nm
Income (loss) from discontinued operations, net of income taxes																		Income (loss) from discontinued operations, net of income taxes	—		19.5		(19.5)		nm			(0.5)		54.2		(54.7)		nm
Net income	Net income	23.2		42.1		(18.9)		(44.9)	%	56.0		80.4		(24.4)		(30.3)	%	Net income	2.6		43.1		(40.5)		(94.0)		%	58.6		123.5		(64.9)		(52.6)	%
Net income attributable to noncontrolling interests	Net income attributable to noncontrolling interests	(0.4)		—		(0.4)		nm		(0.4)		(0.1)		(0.3)		nm		Net income attributable to noncontrolling interests	(0.9)		(0.1)		(0.8)		nm			(1.3)		(0.2)		(1.1)		nm
Net income attributable to Avient common shareholders	Net income attributable to Avient common shareholders	$	22.8	$	42.1	$	(19.3)	(45.8)	%	$	55.6	$	80.3	$	(24.7)	(30.8)	%	Net income attributable to Avient common shareholders	$	1.7	$	43.0	$	(41.3)	(96.0)		%	$	57.3	$	123.3	$	(66.0)	(53.5)	%

Earnings (loss) per share attributable to Avient common shareholders - Basic:
Earnings per share attributable to Avient common shareholders - Basic:																		Earnings per share attributable to Avient common shareholders - Basic:
Continuing operations	Continuing operations	$	0.25	$	0.30					$	0.63	$	0.59					Continuing operations	$	0.02	$	0.31						$	0.64	$	0.89
Discontinued operations	Discontinued operations	—		0.24						—		0.45						Discontinued operations	—		0.25							—		0.71
Total	Total	$	0.25	$	0.54					$	0.63	$	1.04					Total	$	0.02	$	0.56						$	0.64	$	1.60

Earnings (loss) per share attributable to Avient common shareholders - Diluted:	Earnings (loss) per share attributable to Avient common shareholders - Diluted:																									Earnings (loss) per share attributable to Avient common shareholders - Diluted:
Continuing operations	Continuing operations	$	0.25	$	0.30					$	0.63	$	0.58					Continuing operations	$	0.02	$	0.30						$	0.64	$	0.89
Discontinued operations	Discontinued operations	—		0.24						(0.01)		0.45						Discontinued operations	—		0.26							(0.01)		0.69
Total	Total	$	0.25	$	0.54					$	0.62	$	1.03					Total	$	0.02	$	0.56						$	0.63	$	1.58

Sales ~~decreased $139.1~~increased $219.2 million, or ~~18.6%~~31.1%, and ~~$178.2~~$41.0 million, or ~~11.9%~~1.9%, in the three and ~~six~~nine months ended ~~June~~September 30, 2020 compared to the three and ~~six~~nine months ended ~~June~~September 30, 2019, respectively, as ~~sales growth in Asia as well as strength in~~a result of the ~~packaging and healthcare end markets could not overcome the impacts of COVID-19 in Europe and North America. Unfavorable foreign exchange resulted in a 1.3% and 1.2% reduction to sales, respectively.~~Clariant MB Acquisition which was partially offset by COVID related demand weakness.

As a percentage of sales, cost of sales ~~decreased~~increased from ~~76.6%~~77.2% in the three months ended ~~June~~September 30, 2019 to ~~75.4%~~77.3% in the three months ended ~~June~~September 30, 2020, ~~primarily~~ as a ~~result~~charge of $15.8 million for environmental remediation and $10.5 million of expense associated with the fair market value step-up of inventory acquired with Clariant MB offset the benefit of improved mix, ~~cost~~lower raw material costs, and costs containment ~~and an insurance reimbursement of prior incurred environmental costs of $8.5 million received in the second quarter of 2020.~~

As a percentage of sales, cost of sales decreased from 77.1% in the ~~six~~nine months ended ~~June~~September 30, 2019 to ~~75.7%~~76.3% in the ~~six~~nine months ended ~~June~~September 30, 2020, primarily as a result of the aforementioned charges in the three months ended September 30, 2020, which were offset by improved mix, lower raw material costs, cost containment, and an insurance reimbursement of prior incurred environmental costs of $8.5 million received in the second quarter of 2020.

Interest expense, net, ~~remained unchanged~~increased $14.2 million during the three months ended ~~June~~September 30, 2020 compared to the three months ended ~~June~~September 30, 2019, as lower average outstanding variable debt balances were offset by interest expense related to our senior unsecured notes offering completed in May ~~2020.~~2020 and committed financing fees of $9.6 million incurred related to the acquisition of Clariant MB.

Interest expense, net, ~~decreased $6.5~~increased $7.7 million during the ~~six~~nine months ended ~~June~~September 30, 2020 compared to the ~~six~~nine months ended ~~June~~September 30, 2019, as interest expense related to our senior unsecured notes offering completed in May 2020 ~~was~~and $10.1 million of committed financing fees related to the Clariant MB Acquisition were offset by lower average outstanding variable debt balances as well as interest income earned on cash and cash equivalents from our equity issuance completed in February of 2020 along with the divestment of PP~~&S.~~&S in October 2019.

All components of net periodic benefit cost, except for service costs, are presented ~~here.~~herein. The increase in Other Income, net for the ~~three and six~~nine months ended ~~June~~September 30, 2020 was primarily driven by a pension settlement gain, and resulting gain on the interim remeasurement of the Plan’s assets and benefit obligations, totaling $6.9 million. For further detail, see Note 13, Employee Benefit Plans, to the accompanying condensed consolidated financial statements.

During the three and ~~six~~nine months ended ~~June~~September 30, 2020, the Company’s effective tax rate was ~~25.1%~~51.9% and ~~25.9%~~27.6%, respectively, compared to ~~24.0%~~16.3% and ~~26.1%~~23.1% for the three and ~~six~~nine months ended ~~June~~September 30, 2019, respectively. ~~The~~For the three months ended September 30, 2020, a rate comparison to the respective prior period in 2019 was not meaningful due to the amount of pre-tax income for the three months ended ~~June~~September 30, 2020. The rate for the nine months ended September 30, 2020 was ~~slightly~~ higher due to net tax on uncertain tax positions in 2020 compared to the same period in 2019 in which an ~~increase in the U.S. GILTI tax. For the six months ended June 30, 2020, the rate~~uncertain tax position was ~~slightly lower~~released due to ~~favorable mix of earnings in foreign jurisdictions with lower effective tax rates.~~effectively being settled.

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


		Three Months Ended June 30,								Variances — Favorable (Unfavorable)								Six Months Ended June 30,									Variances — Favorable (Unfavorable)						Three Months Ended September 30,						Variances — Favorable (Unfavorable)				Nine Months Ended September 30,	Variances — Favorable (Unfavorable)
(Dollars in millions)	(Dollars in millions)	2020			2019			Change		% Change		2020			2019			Change		% Change		(Dollars in millions)	2020			2019			Change		% Change		2020			2019			Change		% Change
Sales:	Sales:																					Sales:
Color, Additives and Inks	Color, Additives and Inks	$	226.8		$	267.5		$	(40.7)	(15.2)	%	$	483.3		$	530.8		$	(47.5)	(8.9)	%	Color, Additives and Inks	$	493.8		$	246.3		$	247.5	100.5	%	$	977.1		$	777.1		$	200.0	25.7	%
Specialty Engineered Materials	Specialty Engineered Materials	158.8			195.3			(36.5)		(18.7)	%	344.1			385.2			(41.1)		(10.7)	%	Specialty Engineered Materials	174.1			183.0			(8.9)		(4.9)	%	518.2			568.2			(50.0)		(8.8)	%
Distribution	Distribution	238.8			306.6			(67.8)		(22.1)	%	528.3			623.9			(95.6)		(15.3)	%	Distribution	276.9			295.9			(19.0)		(6.4)	%	805.2			919.8			(114.6)		(12.5)	%
Corporate and eliminations	Corporate and eliminations	(15.3)			(21.2)			5.9		27.8	%	(35.1)			(41.1)			6.0		14.6	%	Corporate and eliminations	(20.3)			(19.9)			(0.4)		(2.0)	%	(55.4)			(61.0)			5.6		9.2	%
Total Sales	Total Sales	$	609.1		$	748.2		$	(139.1)	(18.6)	%	$	1,320.6		$	1,498.8		$	(178.2)	(11.9)	%	Total Sales	$	924.5		$	705.3		$	219.2	31.1	%	$	2,245.1		$	2,204.1		$	41.0	1.9	%

Operating income:	Operating income:																					Operating income:
Color, Additives and Inks	Color, Additives and Inks	$	32.3		$	42.3		$	(10.0)	(23.6)	%	$	72.8		$	81.8		$	(9.0)	(11.0)	%	Color, Additives and Inks	$	50.5		$	38.4		$	12.1	31.5	%	$	123.3		$	120.2		$	3.1	2.6	%
Specialty Engineered Materials	Specialty Engineered Materials	17.0			24.9			(7.9)		(31.7)	%	39.3			45.4			(6.1)		(13.4)	%	Specialty Engineered Materials	24.7			19.5			5.2		26.7	%	64.0			64.9			(0.9)		(1.4)	%
Distribution	Distribution	14.6			20.1			(5.5)		(27.4)	%	34.0			39.6			(5.6)		(14.1)	%	Distribution	17.5			18.8			(1.3)		(6.9)	%	51.5			58.4			(6.9)		(11.8)	%
Corporate and eliminations	Corporate and eliminations	(25.9)			(41.2)			15.3		37.1	%	(55.3)			(73.6)			18.3		24.9	%	Corporate and eliminations	(59.2)			(33.6)			(25.6)		(76.2)	%	(114.5)			(107.2)			(7.3)		(6.8)	%
Total Operating Income	Total Operating Income	$	38.0		$	46.1		$	(8.1)	(17.6)	%	$	90.8		$	93.2		$	(2.4)	(2.6)	%	Total Operating Income	$	33.5		$	43.1		$	(9.6)	(22.3)	%	$	124.3		$	136.3		$	(12.0)	(8.8)	%

Operating income as a percentage of sales:	Operating income as a percentage of sales:																													Operating income as a percentage of sales:
Color, Additives and Inks	Color, Additives and Inks	14.2		%	15.8		%	(1.6)		% points		15.1		%	15.4		%	(0.3)		% points		Color, Additives and Inks	10.2		%	15.6		%	(5.4)		% points		12.6		%	15.5		%	(2.9)		% points
Specialty Engineered Materials	Specialty Engineered Materials	10.7		%	12.7		%	(2.0)		% points		11.4		%	11.8		%	(0.4)		% points		Specialty Engineered Materials	14.2		%	10.7		%	3.5		% points		12.4		%	11.4		%	1.0		% points
Distribution	Distribution	6.1		%	6.6		%	(0.5)		% points		6.4		%	6.3		%	0.1		% points		Distribution	6.3		%	6.4		%	(0.1)		% points		6.4		%	6.3		%	0.1		% points
Total	Total	6.2		%	6.2		%	—		% points		6.9		%	6.2		%	0.7		% points		Total	3.6		%	6.1		%	(2.5)		% points		5.5		%	6.2		%	(0.7)		% points

On a pro forma basis to include Clariant MB in all periods, sales decreased by 4.9% in the ~~packaging~~three months ended September 30, 2020, compared to the three months ended September 30, 2019, as gains in the healthcare and ~~healthcare~~consumer discretionary end markets, as well as improved pricing and mix, were more than offset by weakness in the automotive and inks end markets due to the COVID-19 pandemic. On a pro forma basis to include Clariant MB in all periods, sales decreased 7% in the nine months ended September 30, 2020, compared to the nine months ended September 30, 2019, driven primarily by weakness in demand in automotive and consumer end markets due to the COVID-19 pandemic. ~~Unfavorable foreign exchange reduced sales by 1.7%.~~

Operating income ~~decreased $10.0~~increased $12.1 million, or ~~23.6%~~31.5%, in the three months ended ~~June~~September 30, 2020 as compared to the three months ended ~~June~~September 30, ~~2019 and $9.0~~2019. Operating income increased $3.1 million, or ~~11.0%~~2.6%, in the ~~six~~nine months ended ~~June~~September 30, 2020 as compared to the ~~six~~nine months ended ~~June~~September 30, 2019. These increases were driven by the Clariant MB Acquisition partially offset by lower sales due to the COVID-19 pandemic.

On a pro forma basis to include Clariant MB in all periods, operating income decreased by 9.9% in the three months ended September 30, 2020, compared to the three months ended September 30, 2019. On a pro forma basis to include Clariant MB in all periods, operating income decreased 6.4% in the nine months ended September 30, 2020, compared to the nine months ended September 30, 2019.The benefit of expanded margins driven by early capture of integration synergies, improved mix, and lower raw material input costs, ~~pricing actions, and~~as well as lower discretionary spending ~~was not enough~~over the comparable periods, helped to ~~overcome~~partially offset the demand decline as a result of the COVID-19 pandemic.

Sales decreased ~~$67.8~~$19.0 million, or ~~22.1%~~6.4%, in the three months ended ~~June~~September 30, 2020 and ~~$95.6~~$114.6 million, or ~~15.3%~~12.5%, in the ~~six~~nine months ended ~~June~~September 30, 2020 as compared to the three and ~~six~~nine months ended ~~June~~September 30, 2019, respectively, due to lower ~~volume associated with COVID-19 combined with lower~~ average selling ~~prices, driven by lower raw material costs.~~price, as well as demand impact related to the COVID-19 pandemic.

Operating income decreased ~~$5.5~~$1.3 million, or ~~27.4%~~6.9%, in the three months ended ~~June~~September 30, 2020 as compared to the three months ended ~~June~~September 30, 2019 and ~~$5.6~~$6.9 million, or ~~14.1%~~11.8%, in the ~~six~~nine months ended ~~June~~September 30, 2020 as compared to the ~~six~~nine months ended ~~June~~September 30, 2019 as a result of the lower volume associated with ~~COVID-19.~~the COVID-19 pandemic.

Operating income decreased ~~$15.3~~$25.6 million, or ~~37.1%~~76.2%, in the three months ended ~~June~~September 30, 2020 as compared to the three months ended ~~June~~September 30, 2019 due to higher environmental remediation costs in 2020 and ~~$18.3~~expense associated with the fair market value step-up of inventory acquired with Clariant MB, partially offset by the receipt of an insurance reimbursement in the third quarter of 2019 for previously incurred environmental costs. Operating income decreased $7.3 million, or ~~24.9%~~6.8%, in the ~~six~~nine months ended ~~June~~September 30, 2020 as compared to the ~~six~~nine months ended ~~June~~September 30, 2019 primarily ~~as a result~~due to the aforementioned charges, offset by greater insurance reimbursements of ~~an insurance reimbursement of prior~~previously incurred environmental costs, ~~of $8.5 million,~~lower acquisition earnout adjustments, and lower discretionary spending.

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, or privately negotiated ~~transactions or otherwise.~~transactions. 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.~~


(In millions)	(In millions)	As of June 30, 2020		As of December 31, 2019		(In millions)	As of September 30, 2020		As of December 31, 2019
Cash and cash equivalents	Cash and cash equivalents	$	1,977.0	$	864.7	Cash and cash equivalents	$	577.3	$	864.7
Revolving credit availability	Revolving credit availability	260.9		281.1		Revolving credit availability	254.7		281.1
Liquidity	Liquidity	$	2,237.9	$	1,145.8	Liquidity	$	832.0	$	1,145.8

Expected sources of cash in 2020 include cash from operations and available liquidity under our revolving credit facility, if needed. Expected uses of cash in 2020 include ~~the acquisition of Clariant MB,~~ integration costs related to the Clariant MB Acquisition, interest payments, cash taxes, dividend payments, share repurchases, environmental remediation costs, capital expenditures, and ~~capital expenditures.~~debt repayment. Capital expenditures are currently estimated to be approximately ~~$45.0~~$65.0 million in ~~2020, which was reduced from our previously disclosed estimate of $65 million as part of our response to the COVID-19 pandemic.~~2020.

Operating Activities — In the ~~six~~nine months ended ~~June~~September 30, 2020, net cash provided by operating activities was ~~$76.0~~$68.7 million as compared to net cash ~~used~~provided by operating activities of ~~$99.4~~$198.6 million for the ~~six~~nine months ended ~~June~~September 30, 2019, ~~as lower earnings driven by COVID-19 along with~~primarily due to a ~~$21~~$38.1 million earnout payment, and a $142.0 million payment of taxes associated with the gain on sale of PP&S more than offset the benefit from lower working ~~capital of $10.7 million.~~capital.

Investing Activities — Net cash used by investing activities during the ~~six~~nine months ended ~~June~~September 30, 2020 of ~~$9.0~~$1,369.0 million primarily reflects $1,342.7 million related to the Clariant MB Acquisition, capital expenditures of ~~$21.3~~$38.6 million, partially offset by the receipt of the working capital settlement of $7.1 million related to the PP&S divestiture, as well as $5.2 million cash proceeds from other assets.

Financing Activities — Net cash provided by financing activities for the ~~six~~nine months ended ~~June~~September 30, 2020 of ~~$1,049.8~~$1,011.5 million million primarily reflects $496.1 million of net proceeds received from the issuance of common shares in an underwritten public offering that we completed in February 2020 and ~~$640.8~~$640.5 million of net proceeds from the senior unsecured notes offering completed in May 2020, offset by ~~$34.3~~$52.8 million of dividends paid, repurchases of our outstanding common shares of $13.6 million, and the payment of ~~the Fiber-Line~~ acquisition date earnout ~~liability~~liabilities of ~~$32.9~~$50.8 million.

Net cash used by financing activities for the ~~six~~nine months ended ~~June~~September 30, 2019 of ~~$4.5~~$5.8 million primarily reflects $45.7 million of dividends paid and repurchases of our outstanding common shares of $26.9 million offset by net ~~borrowings~~borrrowings of ~~$58.5~~$73.9 million under our senior secured revolving credit ~~facility, offset by $30.7 million of dividends paid and $26.9 million of share repurchases.~~facility.


(In millions)	(In millions)			(In millions)
2020	2020	$	14.2	2020	$	12.7
2021	2021	7.5		2021	8.2
2022	2022	7.2		2022	8.4
2023	2023	607.0		2023	8.5
2024	2024	7.0		2024	608.5
Thereafter	Thereafter	1,245.5		Thereafter	1,247.5
Aggregate maturities	Aggregate maturities	$	1,888.4	Aggregate maturities	$	1,893.8

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:

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.

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.

The Company ~~acquired~~completed the Clariant MB Acquisition on July 1, 2020 ~~subsequent to the end of the period covered by this Quarterly Report,~~ and has not yet included Clariant MB in its assessment of the effectiveness of its internal control over financial reporting. The Company is currently integrating Clariant MB into its operations, compliance programs and internal control processes. Accordingly, pursuant to the SEC's general guidance that an assessment of a recently acquired business may be omitted from the scope of an assessment in the year of acquisition, the scope of our assessment of the effectiveness of our disclosure controls and procedures does not include Clariant MB. Clariant MB constituted approximately 9.1% of the Company's total assets (inclusive of acquired intangible assets) as of September 30, 2020, and approximately 11.7% of the Company's net sales for the nine months ended September 30, 2020.

We will engage in a restructuring plan related to the ongoing integration of the Clariant MB Acquisition. The restructuring plan is expected to enable us to better serve customers, improve efficiency and deliver anticipated synergy-related cost savings in connection with the Clariant MB Acquisition. As result of the restructuring plan, we expect to incur material charges for exit and disposal activities under generally accepted accounting principles.

We are closely monitoring the impact of the outbreak of COVID-19 on all aspects of our business, including how it ~~will impact~~impacts our customers, employees, supply chain, and distribution network. We are unable to predict the ultimate impact that it may have on our business, future results of operations, financial position or cash flows. The extent to which our operations may be impacted by the COVID-19 pandemic will depend largely on future developments, which are highly uncertain and cannot be accurately predicted, including new information which may emerge concerning the severity of the outbreak and actions by government authorities to contain the outbreak or treat its impact. Furthermore, the impacts of a potential worsening of global economic conditions and the continued disruptions to and volatility in the financial markets remain unknown. The continued spread of COVID-19 could negatively impact our business, financial condition and results of operations in a number of ways in the future, including but not limited to:

In response to the pandemic, we began implementing changes in our business in March 2020 designed to protect the health and well-being of our employees and customers and to support appropriate physical distancing and other health and safety protocols. We implemented remote, alternate and flexible work arrangements where possible, including implementing split shifts at facilities and remote work options for non-essential on-site functions, enhanced cleaning and sanitary procedures, implemented domestic and international travel restrictions, implemented return to work and visitor screening protocols, and postponed or canceled hosting or attending large events.

⁽¹⁾On August 18, 2008, we announced that our Board of Directors approved a common shares repurchase program authorizing Avient to purchase up to 10.0 million of its common shares. On October 11, 2011 and October 23, 2012, we further announced that our Board of Directors had increased the common shares repurchase authorization by an additional 5.3 million common shares and 13.2 million common shares, respectively. On May 16, 2016, we announced that we would increase our common share buyback by 7.3 million to 10.0 million. As of ~~June~~September 30, 2020, approximately 1.1 million common shares remained available for purchase under these authorizations. 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. The repurchase program has no expiration and may be suspended or discontinued at any time.


Ohio									34-1730488
(State or other jurisdiction									(I.R.S. Employer Identification No.)
of incorporation or organization)

Avient Center
33587 Walker Road									44012
Avon Lake, Ohio
(Address of principal executive offices)									(Zip Code)


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Shares, par value $.01 per share	AVNT	New York Stock Exchange


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


Exhibit No.						Exhibit Description

3.1						Certificate of Amendment to the Articles of Incorporation, effective June 30, 2020 (incorporated by reference to Exhibit 3.1 to the Company's Current Report on Form 8-K filed on July 1, 2020, SEC File No. 1-16091)

3 .23.2						Amended and Restated Code of Regulations, effective June 30, 2020 (incorporated by reference to Exhibit 3.2 3.2 to the Company's Current Report on Form 8-K filed on July 1, 2020, SEC File No. 1-16091)

~~4.1~~						~~Indenture, dated May 13, 2020, between PolyOne Corporation and U.S. Bank National Association, as trustee(incorporate~~d ~~by reference to Exhibit 4.1 to the Company's Current Report on Form 8-K filed on May 15, 2020, SEC File No. 1-16091)~~.

~~10.1~~+						~~PolyOne Corporation 2020 Equity and Incentive Compensation Plan (incorporated~~ ~~by reference to Appendix B to the Company's definitive proxy statement on Schedule 14A filed on March 30, 2020,~~ ~~SEC~~ ~~File No.~~ ~~1-16091).~~

31.1						Certification of Robert M. Patterson, 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

31.2						Certification of ~~Bradley C. Richardson, Executive~~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

32.1						Certification pursuant to 18 U.S.C. § 1350, adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, as signed by Robert M. Patterson, Chairman, President and Chief Executive Officer

32.2						Certification pursuant to 18 U.S.C. § 1350, adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, as signed by ~~Bradley C. Richardson, Executive~~Jamie A. Beggs, Senior Vice President and Chief Financial Officer

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)



~~July 22,~~November 3, 2020			AVIENT CORPORATION

			/s/ ~~Bradley C. Richardson~~Jamie A. Beggs
			~~Bradley C. Richardson~~Jamie A. Beggs ~~Executive~~Senior Vice President and Chief Financial Officer


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


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


⁽¹⁾ Dividends declared per share were $0.2025 and ~~$0.4050~~$0.6075 for the three and ~~six~~nine months ended ~~June~~September 30, 2020, respectively.


	(Unaudited)				(Unaudited)
	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Sales	$	924.5	$	976.3	$	2,782.6	$	3,055.5
Income from continuing operations before income taxes	28.9		29.8		146.5		78.4


Period	Total Number of Shares Purchased	Weighted Average Price Paid Per Share		Total Number of Shares Purchased as Part of Publicly Announced Program	Maximum Number of Shares that May Yet be Purchased Under the Program⁽¹⁾
~~April~~July 1 to ~~April 30~~July 31	—	$	—	—	1,107,472
~~May~~August 1 to ~~May~~August 31	—	—		—	1,107,472
~~June~~September 1 to ~~June~~September 30	—	—		—	1,107,472
Total	—	$	—	—