Avient (AVNT) 10-Q 26 Oct 16 2016 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information	9 Months Ended
	Sep. 30, 2016shares
Document And Entity Information [Abstract]
Entity Registrant Name	POLYONE CORP
Entity Central Index Key	1,122,976
Document Type	10-Q
Document Period End Date	Sep. 30, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Shares, Shares Outstanding	83,779,955

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Statement [Abstract]
Sales	$ 843.6	$ 841.6	$ 2,552.1	$ 2,601.8
Cost of sales	670.5	672.5	2,001.2	2,077.2
Gross margin	173.1	169.1	550.9	524.6
Selling and administrative expense	101.9	99.9	326.9	305
Operating income	71.2	69.2	224	219.6
Interest expense, net	(15.1)	(16.2)	(44.3)	(48.5)
Debt extinguishment costs	0	0	(0.4)	0
Other (expense) income, net	(0.2)	(1.6)	0.2	(3)
Income before income taxes	55.9	51.4	179.5	168.1
Income tax expense	(13.6)	(6.9)	(48.2)	(26.4)
Net income	42.3	44.5	131.3	141.7
Net loss (income) attributable to noncontrolling interests	0	0	0.1	(0.2)
Net income attributable to PolyOne common shareholders	$ 42.3	$ 44.5	$ 131.4	$ 141.5
Earnings per common share attributable to PolyOne common shareholders - Basic (in USD per share)	$ 0.50	$ 0.51	$ 1.56	$ 1.60
Earnings per common share attributable to PolyOne common shareholders - Diluted (in USD per share)	$ 0.50	$ 0.50	$ 1.55	$ 1.58
Weighted-average shares used to compute earnings per common share:
Basic (in shares)	83.9	87.5	84.2	88.5
Diluted (in shares)	84.5	88.4	84.8	89.4
Cash dividends declared per share of common stock (in USD per share)	$ 0.12	$ 0.10	$ 0.36	$ 0.30

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 42.3	$ 44.5	$ 131.3	$ 141.7
Other comprehensive income
Translation adjustments	0.7	(9.2)	(3.6)	(23.8)
Unrealized gain (loss) on available-for-sale securities	0.2	(0.4)	0.2	0
Total comprehensive income	43.2	34.9	127.9	117.9
Comprehensive loss (income) attributable to noncontrolling interests	0	0	0.1	(0.2)
Comprehensive income attributable to PolyOne common shareholders	$ 43.2	$ 34.9	$ 128	$ 117.7

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 212.2	$ 279.8
Accounts receivable, net	418.3	347
Inventories, net	325.6	287
Other current assets	45.5	47
Total current assets	1,001.6	960.8
Property, net	605	583.5
Goodwill	672.9	597.7
Intangible assets, net	370.2	344.6
Other non-current assets	100.1	108.5
Total assets	2,749.8	2,595.1
Current liabilities:
Short-term and current portion of long-term debt	19.3	18.6
Accounts payable	383.4	351.6
Accrued expenses and other current liabilities	124.8	127.9
Total current liabilities	527.5	498.1
Non-current liabilities:
Long-term debt	1,240.2	1,128
Pension and other post-retirement benefits	48.3	77.5
Deferred income taxes	30.8	33.8
Other non-current liabilities	146.7	152.5
Total non-current liabilities	1,466	1,391.8
Shareholders’ equity:
PolyOne shareholders’ equity	755.4	704.2
Noncontrolling interests	0.9	1
Total equity	756.3	705.2
Total liabilities and shareholders’ equity	$ 2,749.8	$ 2,595.1

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Operating Activities
Net income	$ 131.3	$ 141.7
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	74.7	73.8
Accelerated depreciation and fixed asset charges associated with restructuring activities	4.6	16.1
Provision for doubtful accounts	0.1	0.1
Debt extinguishment costs	0.4	0
Share-based compensation expense	6.5	6
Change in assets and liabilities, net of the effect of acquisitions:
Increase in accounts receivable	(67.4)	(18.5)
(Increase) decrease in inventories	(10.4)	18.9
Increase in accounts payable	30.1	15
Decrease in pension and other post-retirement benefits	(31.3)	(32.1)
Decrease in accrued expenses and other assets and liabilities - net	(11.8)	(92.4)
Net cash provided by operating activities	126.8	128.6
Investing Activities
Capital expenditures	(58)	(61.6)
Business acquisitions	(158.3)	0
Sale of and proceeds from other assets	9.8	1.9
Net cash used by investing activities	(206.5)	(59.7)
Financing Activities
Proceeds from long-term debt	100	0
Borrowings under credit facilities	805.9	781.7
Repayments under credit facilities	(806.4)	(705.7)
Purchase of common shares for treasury	(50.7)	(117.8)
Cash dividends paid	(30.1)	(26.8)
Repayment of long-term debt	(4.4)	0
Exercise of share awards	1	4.3
Debt financing costs	(1.9)	0
Net cash provided (used) by financing activities	13.4	(64.3)
Effect of exchange rate changes on cash	(1.3)	(7.5)
Decrease in cash and cash equivalents	(67.6)	(2.9)
Cash and cash equivalents at beginning of period	279.8	238.6
Cash and cash equivalents at end of period	$ 212.2	$ 235.7

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Basis of Presentation	Note 1 — BASIS OF PRESENTATION The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with Form 10-Q instructions and in the opinion of management contain all adjustments, consisting of normal recurring accruals, 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, 2015 of PolyOne Corporation. When used in this quarterly report on Form 10-Q, the terms “we,” “us,” “our”, "PolyOne" and the “Company” mean PolyOne Corporation and its consolidated subsidiaries. Operating results for the three and nine months ended September 30, 2016 are not necessarily indicative of the results that may be attained in subsequent periods or for the year ending December 31, 2016 . Accounting Standards Not Yet Adopted In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update 2016-13, " Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments " (ASU 2016-13), which requires the allowance recorded for trade receivables to be measured by expected loss rather than incurred loss. Expected loss measurement will be based on historical experience, current conditions and reasonable and supportable forecasts. The Company will adopt ASU 2016-13 no later than the required date of January 1, 2020. We do not expect this standard to have a material impact on our Consolidated Financial Statements. In March 2016, the FASB issued Accounting Standards Update 2016-09, " Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting " (ASU 2016-09), which simplifies the accounting for share-based payment transactions. This update requires that excess tax benefits and tax deficiencies will be recognized as income tax expense or benefit in the Consolidated Statements of Income rather than additional paid-in capital. Additionally, the excess tax benefits will be classified along with other income tax cash flows as an operating activity, rather than a financing activity, on the Statement of Cash Flows. Further, the update allows an entity to make a policy election to recognize forfeitures as they occur or estimate the number of awards expected to be forfeited. ASU 2016-09 is effective for annual and interim periods beginning after December 15, 2016, and should be applied prospectively, with certain cumulative effect adjustments. The Company will adopt ASU 2016-09 no later than the required date of January 1, 2017. We do not expect this standard to have a material impact on our Consolidated Financial Statements. In February 2016, the FASB issued Accounting Standards Update 2016-02, " Leases (Topic 842) " (ASU 2016-02), which requires a lessee to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases with a lease term of more than twelve months. Leases will continue to be classified as either financing or operating, with classification affecting the recognition, measurement and presentation of expenses and cash flows arising from a lease. The Company will adopt ASU 2016-02 no later than the required date of January 1, 2019. We are currently assessing the impact this standard will have on our Consolidated Financial Statements. In July 2015, the FASB issued Accounting Standards Update 2015-11, " Inventory (Topic 300): Simplifying the Measurement of Inventory " (ASU 2015-11), which applies to inventory measured using first-in, first out (FIFO) or average cost. This update requires that an entity should measure inventory that is within scope at the lower of cost and net realizable value, which is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. This update is effective for annual and interim periods beginning after December 15, 2016, and should be applied prospectively with early adoption permitted at the beginning of an interim or annual reporting period. We do not expect this standard to have a material impact on our Consolidated Financial Statements. In May 2014, the FASB issued Auditing Standards Update 2014-09, " Revenue from Contracts with Customers " (ASU 2014-09). Under this standard, a company recognizes revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The standard implements a five-step process for customer contract revenue recognition that focuses on transfer of control. The Company will adopt ASU 2014-09 no later than the required date of January 1, 2018. Entities can transition to the standard either retrospectively or as a cumulative-effect adjustment as of the date of adoption. We are currently assessing the impact this standard, along with the subsequent updates and clarifications, will have on our Consolidated Financial Statements as well as the method by which we will adopt the new standard.

Business Combinations

Business Combinations	9 Months Ended
	Sep. 30, 2016
Business Combinations [Abstract]
Business Combinations	Note 2 — BUSINESS COMBINATIONS On July 26, 2016 , the Company completed the acquisition of substantially all of the assets of Gordon Holdings, Inc. (Gordon Holdings) doing business as Gordon Composites, Inc. (Gordon Composites) and Polystrand, Inc. (Polystrand). Gordon Composites develops high strength profiles and laminates for use in vertical and crossbow archery, sports and recreation equipment, prosthetics and office furniture systems. Polystrand operates on the leading edge of continuous reinforced thermoplastic composite technology, a next generation material science that delivers the high strength and lightweight characteristics of composites, further enhanced with the design flexibility to form more complex shapes. The purchase price was $85.5 million and the results of operations of the acquired businesses are included in the Company's Consolidated Statements of Income for the period subsequent to the date of the acquisition and are reported in the Specialty Engineered Materials segment. The preliminary purchase price allocation is subject to change and not yet finalized. This preliminary allocation resulted in goodwill of $36.6 million and $30.0 million in intangible assets, of which $4.0 million represent indefinite-lived trade names. Goodwill recognized as a result of this acquisition is deductible for tax purposes. On January 29, 2016 , the Company completed the acquisition of certain technologies and assets from Kraton Performance Polymers, Inc. (Kraton), to expand its global footprint and expertise in thermoplastic elastomer (TPE) innovation and design, for approximately $72.8 million . The results of operations of Kraton are included in the Company's Consolidated Statements of Income for the period subsequent to the date of the acquisition and are reported in the Specialty Engineered Materials segment. The preliminary purchase price allocation is subject to change and not yet finalized. This preliminary allocation resulted in goodwill of $37.7 million and $12.0 million in intangible assets. Goodwill recognized as a result of this acquisition is deductible for tax purposes. The definite-lived intangible assets that have been acquired with these recent acquisitions are being amortized over a period of seven to twenty years.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Note 3 — GOODWILL AND INTANGIBLE ASSETS Goodwill as of September 30, 2016 and December 31, 2015 , and changes in the carrying amount of goodwill by segment were as follows: (In millions) Specialty Color, Designed Structures and Solutions Performance PolyOne Total Balance December 31, 2015 $ 98.0 $ 342.2 $ 144.7 $ 11.2 $ 1.6 $ 597.7 Acquisitions of businesses 74.3 — — — — 74.3 Currency translation and other adjustments 0.6 0.3 — — — 0.9 Balance September 30, 2016 $ 172.9 $ 342.5 $ 144.7 $ 11.2 $ 1.6 $ 672.9 Indefinite and finite-lived intangible assets consisted of the following: As of September 30, 2016 (In millions) Acquisition Accumulated Currency Net Customer relationships $ 218.1 $ (49.6 ) $ (0.1 ) $ 168.4 Patents, technology and other 156.3 (54.5 ) (0.3 ) 101.5 Indefinite-lived trade names 100.3 — — 100.3 Total $ 474.7 $ (104.1 ) $ (0.4 ) $ 370.2 As of December 31, 2015 (In millions) Acquisition Accumulated Currency Net Customer relationships $ 199.4 $ (42.1 ) $ — $ 157.3 Patents, technology and other 137.0 (45.7 ) (0.3 ) 91.0 Indefinite-lived trade names 96.3 — — 96.3 Total $ 432.7 $ (87.8 ) $ (0.3 ) $ 344.6

Employee Separation and Restruc

Employee Separation and Restructuring Costs	9 Months Ended
	Sep. 30, 2016
Restructuring and Related Activities [Abstract]
Employee Separation and Restructuring Costs	Note 4 — EMPLOYEE SEPARATION AND RESTRUCTURING COSTS During the three months ended September 30, 2016 , we recognized total employee separation and restructuring charges of $4.6 million , of which $1.1 million was recognized within Cost of goods sold and $3.5 million within Selling and administrative expenses . During the three months ended September 30, 2015 , we recognized total employee separation and restructuring charges of $13.7 million , of which $11.6 million was recognized within Cost of goods sold and $2.1 million within Selling and administrative expenses. During the nine months ended September 30, 2016 , we recognized total employee separation and restructuring charges of $16.5 million , of which $5.7 million was recognized within Cost of goods sold and $10.8 million within Selling and administrative expenses. During the nine months ended September 30, 2015 , we recognized total employee separation and restructuring charges of $31.8 million , which included $24.8 million recognized within Cost of goods sold and $7.0 million recognized within Selling and administrative expenses. These charges are primarily associated with the current Designed Structures and Solutions (DSS) segment and the former Spartech Corporation (Spartech) businesses, which are further detailed below. In the second half of 2015, PolyOne determined it would close two manufacturing facilities within the DSS segment and take other corporate actions to reduce administrative costs. These actions were taken as a result of the declining DSS results and near-term outlook. During the three and nine months ended September 30, 2016 , we recognized charges of $2.5 million and $9.3 million , respectively. During the three and nine months ended September 30, 2015 , we recognized charges of $10.5 million . The costs recognized during 2016 and 2015 primarily related to severance and asset-related charges, including fixed asset and inventory write offs. Total costs for these actions to-date has been $26.4 million , which includes $8.7 million of severance costs, $13.3 million of asset-related charges, including accelerated depreciation of $9.1 million , and $4.4 million of other ongoing costs associated with exiting these plants and transferring equipment. Additional costs related to these actions are not expected to be material. In 2013, PolyOne determined it would close seven former Spartech manufacturing facilities and one administrative office and relocate operations to other PolyOne facilities. The closure of these manufacturing facilities was part of the Company’s efforts to improve service, on time delivery and quality as we align assets with our customers' needs. There were no charges related to the Spartech actions during the nine months ended September 30, 2016 as these actions were complete as of December 31, 2015. We recognized $2.0 million and $17.0 million related to these actions during the three and nine months ended September 30, 2015, respectively.

Inventories, Net

Inventories, Net	9 Months Ended
	Sep. 30, 2016
Inventory Disclosure [Abstract]
Inventories, Net	Note 5 — INVENTORIES, NET Components of Inventories, net are as follows: (In millions) September 30, 2016 December 31, 2015 Finished products $ 202.0 $ 172.7 Work in process 6.6 5.0 Raw materials and supplies 117.0 109.3 Inventories, net $ 325.6 $ 287.0

Property, Net

Property, Net	9 Months Ended
	Sep. 30, 2016
Property, Plant and Equipment [Abstract]
Property, Net	Note 6 — PROPERTY, NET Components of Property, net are as follows: (In millions) September 30, 2016 December 31, 2015 Land $ 48.6 $ 46.9 Buildings 340.7 318.3 Machinery and equipment 1,155.5 1,104.7 Property, gross 1,544.8 1,469.9 Less accumulated depreciation and amortization (939.8 ) (886.4 ) Property, net $ 605.0 $ 583.5 Depreciation expense was $61.7 million for the nine months ended September 30, 2016 and $63.5 million for the nine months ended September 30, 2015 . Included in depreciation expense is accelerated depreciation of $3.3 million and $4.6 million during the nine months ended September 30, 2016 and 2015, respectively, related to restructuring actions.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Note 7 — INCOME TAXES The income tax provision includes U.S. federal, state and local, and foreign income taxes. During the third quarter and first nine months of 2016, the Company’s effective tax rate was 24.3% and 26.9% , respectively, compared to 13.4% and 15.7% , respectively, for the comparable periods of 2015. A reconciliation of the U.S. federal statutory rate to the consolidated effective income tax rate is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Income tax expense at 35% 35.0 % 35.0 % 35.0 % 35.0 % Foreign mix of earnings (6.5 )% (5.0 )% (4.8 )% (3.9 )% Uncertain tax positions (3.3 )% (14.6 )% (0.9 )% 0.4 % Foreign tax credits from amending prior period returns — % (1.9 )% (1.7 )% (18.1 )% Other, net (0.9 )% (0.1 )% (0.7 )% 2.3 % Effective Income Tax Rate 24.3 % 13.4 % 26.9 % 15.7 % The effective tax rates for all periods differed from the U.S. federal statutory rate primarily as a result of the significant items described below. 2016 Significant items The 3.3% and 0.9% benefits for uncertain tax positions for the three months and nine months ended September 30, 2016, respectively, primarily relate to the reversal of uncertain tax positions due to the expiration of the statute of limitations. For the nine months ended September 30, 2016, a 1.7% adjustment related to previously filed U.S. federal income tax returns and corresponding foreign tax credits resulted in the favorable impact to the effective tax rate. 2015 Significant items The 14.6% benefit for uncertain tax positions for the three months ended September 30, 2015 primarily related to the reversal of an uncertain tax position due to the expiration of the statute of limitations. The 0.4% expense for uncertain tax positions for the nine months ended September 30, 2015 is primarily due to an unfavorable foreign court ruling during the first quarter of 2015, which settled an uncertain tax position taken in a prior year, more than offsetting the benefit recognized during the three months ended September 30, 2015. For the three and nine months ended September 30, 2015, the 1.9% and 18.1% of respective benefits were a result of amending U.S. federal income tax returns from 2004 through 2012 to use foreign tax credits.

Weighted-Average Shares Used in

Weighted-Average Shares Used in Computing Earnings Per Common Share	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Weighted-Average Shares Used in Computing Earnings Per Common Share	Note 8 — WEIGHTED-AVERAGE SHARES USED IN COMPUTING EARNINGS PER COMMON SHARE Three Months Ended September 30, Nine Months Ended September 30, (In millions) 2016 2015 2016 2015 Weighted-average common shares outstanding – basic 83.9 87.5 84.2 88.5 Plus dilutive impact of share-based compensation 0.6 0.9 0.6 0.9 Weighted-average common shares – diluted 84.5 88.4 84.8 89.4 For the three months ended September 30, 2016 and 2015, 0.2 million equity-based awards were excluded from the computation of diluted earnings per common share because their effect would have been anti-dilutive. For the nine months ended September 30, 2016 , 0.2 million of equity-based awards were excluded from the computation of diluted earnings per share because their effect would have been anti-dilutive. No equity-based awards were anti-dilutive for the computation of diluted earnings per common share for the nine months ended September 30, 2015.

Employee Benefit Plans

Employee Benefit Plans	9 Months Ended
	Sep. 30, 2016
Compensation and Retirement Disclosure [Abstract]
Employee Benefit Plans	Note 9 — EMPLOYEE BENEFIT PLANS Components of defined benefit pension plan net periodic gains are as follows: Three Months Ended September 30, Nine Months Ended September 30, (In millions) 2016 2015 2016 2015 Service cost $ 0.2 $ 0.4 $ 0.7 $ 1.3 Interest cost 5.0 5.3 15.4 16.0 Expected return on plan assets (7.8 ) (8.2 ) (23.5 ) (24.6 ) Net periodic benefit gains $ (2.6 ) $ (2.5 ) $ (7.4 ) $ (7.3 ) Components of post-retirement health care plan benefit costs are as follows: Three Months Ended September 30, Nine Months Ended September 30, (In millions) 2016 2015 2016 2015 Interest cost $ 0.2 $ 0.1 $ 0.4 $ 0.4 Net periodic benefit costs $ 0.2 $ 0.1 $ 0.4 $ 0.4

Financing Arrangements

Financing Arrangements	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Financing Arrangements	Note 10 — FINANCING ARRANGEMENTS Debt consists of the following instruments: As of September 30, 2016 (In millions) Principal Amount Unamortized discount and debt issuance cost Net Debt Senior secured term loan due 2022 $ 645.6 $ 8.9 $ 636.7 5.25% senior notes due 2023 600.0 7.4 592.6 Other debt 30.2 — 30.2 Total long-term debt $ 1,275.8 $ 16.3 $ 1,259.5 Less short-term and current portion of long-term debt 19.3 — 19.3 Total long-term debt, net of current portion $ 1,256.5 $ 16.3 $ 1,240.2 As of December 31, 2015 (In millions) Principal Amount Unamortized discount and debt issuance cost Net Debt Senior secured term loan due 2022 $ 550.0 $ 8.6 $ 541.4 5.25% senior notes due 2023 600.0 8.3 591.7 Other debt 13.5 — 13.5 Total long-term debt $ 1,163.5 $ 16.9 $ 1,146.6 Less short-term and current portion of long-term debt 18.6 — 18.6 Total long-term debt, net of current portion $ 1,144.9 $ 16.9 $ 1,128.0 On November 12, 2015, PolyOne entered into a senior secured term loan having an aggregate principal amount of $550.0 million . One percent of the principal amount is payable annually while the remaining balance matures on November 12, 2022. On June 15, 2016, the Company entered into an amendment to its senior secured term loan. Under the terms of the amended senior secured term loan, the interest rate was reduced by 25 basis points to 275 basis points plus the greater of (i) the 1-, 2-, 3-, or 6-month LIBOR, at the Company's discretion, or (ii) 75 basis points. In connection with the amendment, the Company recognized $0.4 million of Debt extinguishment costs in our Consolidated Statements of Income. On August 3, 2016, the Company increased the senior secured term loan due 2022 by $100.0 million in connection with the acquisition of substantially all of the assets of Gordon Holdings. The weighted average annual interest rate for the senior secured term loan for the three and nine months ended September 30, 2016 was 3.50% and 3.65% , respectively. The total aggregate principal repayments as of the nine months ended September 30, 2016 was $4.4 million . PolyOne has outstanding $600.0 million aggregate principal amount of senior notes, which mature on March 15, 2023. The senior notes bear an interest rate of 5.25% per year, payable semi-annually, in arrears, on March 15 and September 15 of each year. The Company maintains a senior secured revolving credit facility with a maturity date of March 1, 2018, which provides a maximum borrowing facility size of $400.0 million , subject to a borrowing base with advances against certain U.S. and Canadian accounts receivable, inventory and other assets as specified in the agreement. We have the option to increase the availability under the facility to $450.0 million , subject to meeting certain requirements and obtaining commitments for such increase. The senior secured revolving credit facility has a U.S. and a Canadian line of credit. Currently there are no borrowings on the Canadian portion of the facility. Advances under the U.S. portion of our revolving credit facility bear interest, at the Company’s option, at a Base Rate or a LIBOR Rate plus an applicable margin. The Base Rate is a fluctuating rate equal to the greater of (i) the Federal Funds Rate plus one-half percent, (ii) the prevailing LIBOR Rate plus one percent, and (iii) the prevailing Prime Rate. The applicable margins vary based on the Company’s daily average excess availability during the previous quarter. The weighted average annual interest rate under this facility for the three and nine months ended September 30, 2016 was 4.00% and 3.13% . As of September 30, 2016 , we had no outstanding borrowings and had availability of $381.7 million under this facility. The agreements governing our revolving credit facility and our secured term loan, and the indentures and credit agreements governing other debt, contain a number of customary 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 September 30, 2016 , we were in compliance with all covenants. The Company also has a credit line of $16.0 million with Saudi Hollandi Bank. The credit line has an interest rate equal to the Saudi Arabia Interbank Offered Rate plus a fixed rate of 0.85% and is subject to annual renewal. Borrowings under this credit line were primarily used to fund capital expenditures related to the manufacturing facility in Jeddah, Saudi Arabia. As of September 30, 2016 , letters of credit under the credit line were $0.2 million and borrowings were $12.6 million with an interest rate of 2.67% . The estimated fair value of PolyOne’s debt instruments at September 30, 2016 and December 31, 2015 was $ 1,279.9 million and $ 1,136.2 million , respectively, compared to carrying values of $ 1,259.5 million and $1,146.6 million as of September 30, 2016 and December 31, 2015 , respectively. The fair value of PolyOne’s debt instruments was estimated using prevailing market interest rates on debt with similar creditworthiness, terms and maturities and represent Level 2 measurements within the fair value hierarchy.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Segment Information	Note 11 — SEGMENT INFORMATION Operating income is the primary measure that is reported to our chief operating decision maker 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 realignment costs; executive separation agreements; share-based compensation costs; asset impairments; environmental remediation costs 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 chief operating decision maker. These costs are included in Corporate and eliminations . PolyOne has five reportable segments: (1) Color, Additives and Inks; (2) Specialty Engineered Materials; (3) Designed Structures and Solutions; (4) Performance Products and Solutions; and (5) PolyOne Distribution. Segment information for the three and nine months ended September 30, 2016 and 2015 is as follows: Three Months Ended September 30, 2016 Three Months Ended September 30, 2015 (In millions) Sales to Total Operating Sales to Total Sales Operating Color, Additives and Inks $ 191.3 $ 195.9 $ 31.4 $ 198.9 $ 199.9 $ 34.5 Specialty Engineered Materials 132.6 146.2 20.5 123.6 136.0 20.0 Designed Structures and Solutions 96.9 97.0 (0.5 ) 109.3 112.4 4.3 Performance Products and Solutions 152.4 171.3 18.0 154.3 175.2 16.1 PolyOne Distribution 270.4 274.8 18.2 255.5 259.5 17.6 Corporate and eliminations — (41.6 ) (16.4 ) — (41.4 ) (23.3 ) Total $ 843.6 $ 843.6 $ 71.2 $ 841.6 $ 841.6 $ 69.2 Nine Months Ended September 30, 2016 Nine Months Ended September 30, 2015 (In millions) Sales to Total Operating Sales to Total Sales Operating Color, Additives and Inks $ 598.5 $ 613.0 $ 104.5 $ 618.7 $ 625.8 $ 107.9 Specialty Engineered Materials 392.6 430.5 65.3 382.2 417.6 63.2 Designed Structures and Solutions 308.3 308.8 0.9 339.4 343.1 12.0 Performance Products and Solutions 449.6 510.3 59.0 480.7 541.4 43.9 PolyOne Distribution 803.1 816.2 53.5 780.8 792.0 52.4 Corporate and eliminations — (126.7 ) (59.2 ) — (118.1 ) (59.8 ) Total $ 2,552.1 $ 2,552.1 $ 224.0 $ 2,601.8 $ 2,601.8 $ 219.6 Total Assets (In millions) September 30, 2016 December 31, 2015 Color, Additives and Inks $ 938.2 $ 939.5 Specialty Engineered Materials 540.0 353.4 Designed Structures and Solutions 450.8 449.5 Performance Products and Solutions 252.7 237.4 PolyOne Distribution 231.5 200.0 Corporate and eliminations 336.6 415.3 Total assets $ 2,749.8 $ 2,595.1

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 12 — COMMITMENTS AND CONTINGENCIES Environmental — 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, we were informed of rulings by the United States District Court for the Western District of Kentucky on several pending motions in the case of Westlake Vinyls, Inc. v. Goodrich Corporation, et al., which had been pending since 2003. The Court held that PolyOne must pay the remediation costs at the former Goodrich Corporation Calvert City facility (now largely owned and operated by Westlake Vinyls), together with certain defense costs of Goodrich Corporation. The rulings also provided that PolyOne can seek indemnification for contamination attributable to Westlake Vinyls. The environmental obligation at the site arose as a result of an agreement between The B.F.Goodrich Company (n/k/a Goodrich Corporation) and our predecessor, The Geon Company, at the time of the initial public offering in 1993, by which The Geon Company became a public company, to indemnify Goodrich Corporation for environmental costs at the site. At the time, neither PolyOne nor The Geon Company ever owned or operated the facility. Following the Court rulings, the parties to the litigation entered into settlement negotiations and 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. While we do not currently assume any allocation of costs in our current accrual, we will adjust our accrual, in the future, consistent with any such future allocation of costs. A remedial investigation and feasibility study (RIFS) is underway at Calvert City. During the third quarter of 2013, we submitted a remedial investigation report to the United States Environmental Protection Agency (USEPA). The USEPA required certain changes to the remedial investigation report and provided a final report in the third quarter of 2015. Additionally, in the third quarter of 2015, the USEPA assumed responsibility for the completion of the feasibility study. We continue to pursue available insurance coverage related to this matter and recognize gains as we receive reimbursement. No receivable has been recognized for future recoveries. On March 13, 2013, PolyOne acquired 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 has 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 (the lower Passaic River Study Area). 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 RIFS of the lower Passaic River Study Area. The RIFS costs are exclusive of any costs that may ultimately be required to remediate the lower Passaic River Study Area or costs associated with natural resource damages that may be assessed. By agreeing to bear a portion of the cost of the RIFS, Franklin-Burlington did not admit to any liability or agree to bear any such remediation or natural resource damage costs. In February 2015, the Cooperating Parties submitted to the USEPA a remedial investigation report for the lower Passaic River Study Area. In March 2015, Franklin-Burlington, along with nine other PRPs, submitted a de minimis settlement petition to the USEPA, asserting the ten entities contributed little or no impact to the lower Passaic River and seeking a meeting to commence settlement discussions. In April 2015, the Cooperating Parties submitted a feasibility study to the USEPA. The feasibility study does not contemplate who is responsible for remediation nor does it determine how such costs will be allocated to PRPs. The Cooperating Parties are currently revising their RIFS, which has not yet been approved by the USEPA, as part of continuing technical discussions with the USEPA. On March 4, 2016, the USEPA issued a Record of Decision selecting a remedy for an eight -mile portion of the lower Passaic River Study Area at an estimated and discounted cost of $1.4 billion . On March 31, 2016, the USEPA sent a Notice of Potential Liability (the Notice) to over 100 companies, including Franklin-Burlington, and several municipalities for this eight -mile portion, in which the USEPA stated it intended to negotiate an AOC for Remedial Design with Occidental Chemical Corporation (OCC) and, upon signature, planned to negotiate a consent decree with other major PRPs to perform remedial actions. The Notice did not identify the “other major PRPs.” Further, the Notice communicated that the USEPA will provide to certain parties separate notice of the opportunity to discuss a cash-out settlement at a later date. On September 30, 2016, the USEPA reached an agreement with OCC, which orders OCC to perform the remedial design for the lower eight mile portion of the Passaic River. Based on the currently available information, we have found no evidence that Franklin-Burlington contributed any of the primary contaminants of concern to the lower Passaic River. Any allocation to Franklin-Burlington, including a final resolution of our de minimis petition or other opportunity for cash-out settlement, or further appropriate legal actions has not been determined. As a result of these uncertainties, we are unable to estimate a liability, if any, related to this matter. As of September 30, 2016 , we have not accrued for costs of remediation related to the lower Passaic River. During the nine months ended September 30, 2016 and 2015 , PolyOne recognized $6.1 million and $7.8 million , respectively, of expense related to environmental remediation activities. During the nine months ended September 30, 2016 and 2015 , we received $5.3 million and $2.6 million , respectively, of insurance recoveries related to previously incurred environmental costs. These expenses and gains associated with these reimbursements are included within Cost of sales within our Condensed Consolidated Statements of Income . Our Consolidated Balance Sheet includes accruals totaling $118.2 million and $119.9 million as of September 30, 2016 and December 31, 2015 , 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 liabilities and Other non-current liabilities on the accompanying 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 discovered conditions and other factors, it is reasonably possible that we could incur additional costs in excess of the amount accrued at September 30, 2016 . However, such additional costs, if any, cannot be currently estimated. Further, we have not recorded receivables for future available insurance recoveries associated with these costs. Guarantee — On February 28, 2011, we sold our 50% equity interest in SunBelt Chlor Alkali Partnership (SunBelt) to Olin Corporation (Olin). As a result of the sale, Olin assumed our obligations under our guarantee of senior secured notes issued by SunBelt, which are $12.2 million as of September 30, 2016 . Unless the guarantee is formally assigned to Olin, we remain obligated under the guarantee, although Olin has agreed to indemnify us for amounts that we may be obligated to pay under the guarantee. The senior secured notes mature in December 2017.

Equity

Equity	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Equity	Note 13 — EQUITY Changes in equity for the nine months ended September 30, 2016 and September 30, 2015 are as follows: (In millions) PolyOne Noncontrolling Total Balance at December 31, 2015 $ 704.2 $ 1.0 $ 705.2 Net income (loss) 131.4 (0.1 ) 131.3 Other comprehensive income Translation adjustments (3.6 ) — (3.6 ) Unrealized gain on available-for-sale securities 0.2 — 0.2 Total comprehensive income (loss) 128.0 (0.1 ) 127.9 Cash dividend declared (29.7 ) — (29.7 ) Repurchase of common shares (50.7 ) — (50.7 ) Share-based incentive plan activity 3.6 — 3.6 Balance at September 30, 2016 $ 755.4 $ 0.9 $ 756.3 Balance at December 31, 2014 $ 776.3 $ 0.9 $ 777.2 Net income 141.5 0.2 141.7 Other comprehensive income Translation adjustments (23.8 ) — (23.8 ) Total comprehensive income 117.7 0.2 117.9 Cash dividend declared (26.8 ) — (26.8 ) Repurchase of common shares (121.5 ) — (121.5 ) Share-based incentive plan activity 2.2 — 2.2 Balance at September 30, 2015 $ 747.9 $ 1.1 $ 749.0 Changes in accumulated other comprehensive loss year-to-date as of September 30, 2016 and 2015 were as follows: (In millions) Cumulative Translation Adjustment Pension and Other Post-Retirement Benefits Unrealized Gain in Available-for-Sale Securities Total Balance at January 1, 2016 $ (76.8 ) $ 5.2 $ 0.3 $ (71.3 ) Translation adjustments (3.6 ) — — (3.6 ) Unrealized gain on available-for-sale securities — — 0.2 0.2 Balance at September 30, 2016 $ (80.4 ) $ 5.2 $ 0.5 $ (74.7 ) Balance at January 1, 2015 $ (47.7 ) $ 5.2 $ 0.2 $ (42.3 ) Translation adjustments (23.8 ) — — (23.8 ) Balance at September 30, 2015 $ (71.5 ) $ 5.2 $ 0.2 $ (66.1 )

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Basis of Presentation	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with Form 10-Q instructions and in the opinion of management contain all adjustments, consisting of normal recurring accruals, 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, 2015 of PolyOne Corporation. When used in this quarterly report on Form 10-Q, the terms “we,” “us,” “our”, "PolyOne" and the “Company” mean PolyOne Corporation and its consolidated subsidiaries.
Accounting Standards Not Yet Adopted	In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update 2016-13, " Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments " (ASU 2016-13), which requires the allowance recorded for trade receivables to be measured by expected loss rather than incurred loss. Expected loss measurement will be based on historical experience, current conditions and reasonable and supportable forecasts. The Company will adopt ASU 2016-13 no later than the required date of January 1, 2020. We do not expect this standard to have a material impact on our Consolidated Financial Statements. In March 2016, the FASB issued Accounting Standards Update 2016-09, " Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting " (ASU 2016-09), which simplifies the accounting for share-based payment transactions. This update requires that excess tax benefits and tax deficiencies will be recognized as income tax expense or benefit in the Consolidated Statements of Income rather than additional paid-in capital. Additionally, the excess tax benefits will be classified along with other income tax cash flows as an operating activity, rather than a financing activity, on the Statement of Cash Flows. Further, the update allows an entity to make a policy election to recognize forfeitures as they occur or estimate the number of awards expected to be forfeited. ASU 2016-09 is effective for annual and interim periods beginning after December 15, 2016, and should be applied prospectively, with certain cumulative effect adjustments. The Company will adopt ASU 2016-09 no later than the required date of January 1, 2017. We do not expect this standard to have a material impact on our Consolidated Financial Statements. In February 2016, the FASB issued Accounting Standards Update 2016-02, " Leases (Topic 842) " (ASU 2016-02), which requires a lessee to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases with a lease term of more than twelve months. Leases will continue to be classified as either financing or operating, with classification affecting the recognition, measurement and presentation of expenses and cash flows arising from a lease. The Company will adopt ASU 2016-02 no later than the required date of January 1, 2019. We are currently assessing the impact this standard will have on our Consolidated Financial Statements. In July 2015, the FASB issued Accounting Standards Update 2015-11, " Inventory (Topic 300): Simplifying the Measurement of Inventory " (ASU 2015-11), which applies to inventory measured using first-in, first out (FIFO) or average cost. This update requires that an entity should measure inventory that is within scope at the lower of cost and net realizable value, which is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. This update is effective for annual and interim periods beginning after December 15, 2016, and should be applied prospectively with early adoption permitted at the beginning of an interim or annual reporting period. We do not expect this standard to have a material impact on our Consolidated Financial Statements. In May 2014, the FASB issued Auditing Standards Update 2014-09, " Revenue from Contracts with Customers " (ASU 2014-09). Under this standard, a company recognizes revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The standard implements a five-step process for customer contract revenue recognition that focuses on transfer of control. The Company will adopt ASU 2014-09 no later than the required date of January 1, 2018. Entities can transition to the standard either retrospectively or as a cumulative-effect adjustment as of the date of adoption. We are currently assessing the impact this standard, along with the subsequent updates and clarifications, will have on our Consolidated Financial Statements as well as the method by which we will adopt the new standard.

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Changes in Carrying Amount of Goodwill by Operating Segment	Goodwill as of September 30, 2016 and December 31, 2015 , and changes in the carrying amount of goodwill by segment were as follows: (In millions) Specialty Color, Designed Structures and Solutions Performance PolyOne Total Balance December 31, 2015 $ 98.0 $ 342.2 $ 144.7 $ 11.2 $ 1.6 $ 597.7 Acquisitions of businesses 74.3 — — — — 74.3 Currency translation and other adjustments 0.6 0.3 — — — 0.9 Balance September 30, 2016 $ 172.9 $ 342.5 $ 144.7 $ 11.2 $ 1.6 $ 672.9
Schedule of Finite-Lived Intangible Assets	Indefinite and finite-lived intangible assets consisted of the following: As of September 30, 2016 (In millions) Acquisition Accumulated Currency Net Customer relationships $ 218.1 $ (49.6 ) $ (0.1 ) $ 168.4 Patents, technology and other 156.3 (54.5 ) (0.3 ) 101.5 Indefinite-lived trade names 100.3 — — 100.3 Total $ 474.7 $ (104.1 ) $ (0.4 ) $ 370.2 As of December 31, 2015 (In millions) Acquisition Accumulated Currency Net Customer relationships $ 199.4 $ (42.1 ) $ — $ 157.3 Patents, technology and other 137.0 (45.7 ) (0.3 ) 91.0 Indefinite-lived trade names 96.3 — — 96.3 Total $ 432.7 $ (87.8 ) $ (0.3 ) $ 344.6
Schedule of Indefinite-Lived Intangible Assets	Indefinite and finite-lived intangible assets consisted of the following: As of September 30, 2016 (In millions) Acquisition Accumulated Currency Net Customer relationships $ 218.1 $ (49.6 ) $ (0.1 ) $ 168.4 Patents, technology and other 156.3 (54.5 ) (0.3 ) 101.5 Indefinite-lived trade names 100.3 — — 100.3 Total $ 474.7 $ (104.1 ) $ (0.4 ) $ 370.2 As of December 31, 2015 (In millions) Acquisition Accumulated Currency Net Customer relationships $ 199.4 $ (42.1 ) $ — $ 157.3 Patents, technology and other 137.0 (45.7 ) (0.3 ) 91.0 Indefinite-lived trade names 96.3 — — 96.3 Total $ 432.7 $ (87.8 ) $ (0.3 ) $ 344.6

Inventories, Net (Tables)

Inventories, Net (Tables)	9 Months Ended
	Sep. 30, 2016
Inventory Disclosure [Abstract]
Components of Inventories, Net	Components of Inventories, net are as follows: (In millions) September 30, 2016 December 31, 2015 Finished products $ 202.0 $ 172.7 Work in process 6.6 5.0 Raw materials and supplies 117.0 109.3 Inventories, net $ 325.6 $ 287.0

Property, Net (Tables)

Property, Net (Tables)	9 Months Ended
	Sep. 30, 2016
Property, Plant and Equipment [Abstract]
Components of Property, Net	Components of Property, net are as follows: (In millions) September 30, 2016 December 31, 2015 Land $ 48.6 $ 46.9 Buildings 340.7 318.3 Machinery and equipment 1,155.5 1,104.7 Property, gross 1,544.8 1,469.9 Less accumulated depreciation and amortization (939.8 ) (886.4 ) Property, net $ 605.0 $ 583.5

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Reconciliation of Federal Statutory Rate to Consolidated Effective Income Tax Rate	A reconciliation of the U.S. federal statutory rate to the consolidated effective income tax rate is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Income tax expense at 35% 35.0 % 35.0 % 35.0 % 35.0 % Foreign mix of earnings (6.5 )% (5.0 )% (4.8 )% (3.9 )% Uncertain tax positions (3.3 )% (14.6 )% (0.9 )% 0.4 % Foreign tax credits from amending prior period returns — % (1.9 )% (1.7 )% (18.1 )% Other, net (0.9 )% (0.1 )% (0.7 )% 2.3 % Effective Income Tax Rate 24.3 % 13.4 % 26.9 % 15.7 %

Weighted-Average Shares Used 24

Weighted-Average Shares Used in Computing Earnings Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Schedule of Weighted-Average Shares Used in Computing Earnings Per Share	Three Months Ended September 30, Nine Months Ended September 30, (In millions) 2016 2015 2016 2015 Weighted-average common shares outstanding – basic 83.9 87.5 84.2 88.5 Plus dilutive impact of share-based compensation 0.6 0.9 0.6 0.9 Weighted-average common shares – diluted 84.5 88.4 84.8 89.4

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	9 Months Ended
	Sep. 30, 2016
Defined Benefit Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Components of Net Period Benefit Costs	Components of defined benefit pension plan net periodic gains are as follows: Three Months Ended September 30, Nine Months Ended September 30, (In millions) 2016 2015 2016 2015 Service cost $ 0.2 $ 0.4 $ 0.7 $ 1.3 Interest cost 5.0 5.3 15.4 16.0 Expected return on plan assets (7.8 ) (8.2 ) (23.5 ) (24.6 ) Net periodic benefit gains $ (2.6 ) $ (2.5 ) $ (7.4 ) $ (7.3 )
Post-retirement Health Care Plan Benefit
Defined Benefit Plan Disclosure [Line Items]
Components of Net Period Benefit Costs	Components of post-retirement health care plan benefit costs are as follows: Three Months Ended September 30, Nine Months Ended September 30, (In millions) 2016 2015 2016 2015 Interest cost $ 0.2 $ 0.1 $ 0.4 $ 0.4 Net periodic benefit costs $ 0.2 $ 0.1 $ 0.4 $ 0.4

Financing Arrangements (Tables)

Financing Arrangements (Tables)	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Components of Debt	Debt consists of the following instruments: As of September 30, 2016 (In millions) Principal Amount Unamortized discount and debt issuance cost Net Debt Senior secured term loan due 2022 $ 645.6 $ 8.9 $ 636.7 5.25% senior notes due 2023 600.0 7.4 592.6 Other debt 30.2 — 30.2 Total long-term debt $ 1,275.8 $ 16.3 $ 1,259.5 Less short-term and current portion of long-term debt 19.3 — 19.3 Total long-term debt, net of current portion $ 1,256.5 $ 16.3 $ 1,240.2 As of December 31, 2015 (In millions) Principal Amount Unamortized discount and debt issuance cost Net Debt Senior secured term loan due 2022 $ 550.0 $ 8.6 $ 541.4 5.25% senior notes due 2023 600.0 8.3 591.7 Other debt 13.5 — 13.5 Total long-term debt $ 1,163.5 $ 16.9 $ 1,146.6 Less short-term and current portion of long-term debt 18.6 — 18.6 Total long-term debt, net of current portion $ 1,144.9 $ 16.9 $ 1,128.0

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Schedule of Segment Information	Segment information for the three and nine months ended September 30, 2016 and 2015 is as follows: Three Months Ended September 30, 2016 Three Months Ended September 30, 2015 (In millions) Sales to Total Operating Sales to Total Sales Operating Color, Additives and Inks $ 191.3 $ 195.9 $ 31.4 $ 198.9 $ 199.9 $ 34.5 Specialty Engineered Materials 132.6 146.2 20.5 123.6 136.0 20.0 Designed Structures and Solutions 96.9 97.0 (0.5 ) 109.3 112.4 4.3 Performance Products and Solutions 152.4 171.3 18.0 154.3 175.2 16.1 PolyOne Distribution 270.4 274.8 18.2 255.5 259.5 17.6 Corporate and eliminations — (41.6 ) (16.4 ) — (41.4 ) (23.3 ) Total $ 843.6 $ 843.6 $ 71.2 $ 841.6 $ 841.6 $ 69.2 Nine Months Ended September 30, 2016 Nine Months Ended September 30, 2015 (In millions) Sales to Total Operating Sales to Total Sales Operating Color, Additives and Inks $ 598.5 $ 613.0 $ 104.5 $ 618.7 $ 625.8 $ 107.9 Specialty Engineered Materials 392.6 430.5 65.3 382.2 417.6 63.2 Designed Structures and Solutions 308.3 308.8 0.9 339.4 343.1 12.0 Performance Products and Solutions 449.6 510.3 59.0 480.7 541.4 43.9 PolyOne Distribution 803.1 816.2 53.5 780.8 792.0 52.4 Corporate and eliminations — (126.7 ) (59.2 ) — (118.1 ) (59.8 ) Total $ 2,552.1 $ 2,552.1 $ 224.0 $ 2,601.8 $ 2,601.8 $ 219.6 Total Assets (In millions) September 30, 2016 December 31, 2015 Color, Additives and Inks $ 938.2 $ 939.5 Specialty Engineered Materials 540.0 353.4 Designed Structures and Solutions 450.8 449.5 Performance Products and Solutions 252.7 237.4 PolyOne Distribution 231.5 200.0 Corporate and eliminations 336.6 415.3 Total assets $ 2,749.8 $ 2,595.1

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Schedule of Changes in Equity	Changes in equity for the nine months ended September 30, 2016 and September 30, 2015 are as follows: (In millions) PolyOne Noncontrolling Total Balance at December 31, 2015 $ 704.2 $ 1.0 $ 705.2 Net income (loss) 131.4 (0.1 ) 131.3 Other comprehensive income Translation adjustments (3.6 ) — (3.6 ) Unrealized gain on available-for-sale securities 0.2 — 0.2 Total comprehensive income (loss) 128.0 (0.1 ) 127.9 Cash dividend declared (29.7 ) — (29.7 ) Repurchase of common shares (50.7 ) — (50.7 ) Share-based incentive plan activity 3.6 — 3.6 Balance at September 30, 2016 $ 755.4 $ 0.9 $ 756.3 Balance at December 31, 2014 $ 776.3 $ 0.9 $ 777.2 Net income 141.5 0.2 141.7 Other comprehensive income Translation adjustments (23.8 ) — (23.8 ) Total comprehensive income 117.7 0.2 117.9 Cash dividend declared (26.8 ) — (26.8 ) Repurchase of common shares (121.5 ) — (121.5 ) Share-based incentive plan activity 2.2 — 2.2 Balance at September 30, 2015 $ 747.9 $ 1.1 $ 749.0
Schedule of Accumulated Other Comprehensive Loss	Changes in accumulated other comprehensive loss year-to-date as of September 30, 2016 and 2015 were as follows: (In millions) Cumulative Translation Adjustment Pension and Other Post-Retirement Benefits Unrealized Gain in Available-for-Sale Securities Total Balance at January 1, 2016 $ (76.8 ) $ 5.2 $ 0.3 $ (71.3 ) Translation adjustments (3.6 ) — — (3.6 ) Unrealized gain on available-for-sale securities — — 0.2 0.2 Balance at September 30, 2016 $ (80.4 ) $ 5.2 $ 0.5 $ (74.7 ) Balance at January 1, 2015 $ (47.7 ) $ 5.2 $ 0.2 $ (42.3 ) Translation adjustments (23.8 ) — — (23.8 ) Balance at September 30, 2015 $ (71.5 ) $ 5.2 $ 0.2 $ (66.1 )

Business Combinations (Narrativ

Business Combinations (Narrative) (Details) - USD ($) $ in Millions	Jul. 26, 2016	Jan. 29, 2016	Sep. 30, 2016
Gordon Holdings
Business Acquisition [Line Items]
Purchase price	$ 85.5
Goodwill acquired	36.6
Intangible assets acquired	30
Kraton
Business Acquisition [Line Items]
Purchase price		$ 72.8
Goodwill acquired		37.7
Intangible assets acquired, finite-lived		$ 12
Indefinite-lived trade names | Gordon Holdings
Business Acquisition [Line Items]
Intangible assets acquired, indefinite-lived	$ 4
Minimum
Business Acquisition [Line Items]
Intangible assets acquired, amortization period			7 years
Maximum
Business Acquisition [Line Items]
Intangible assets acquired, amortization period			20 years

Goodwill and Intangible Asset30

Goodwill and Intangible Assets (Goodwill and Changes in Carrying Amount of Goodwill by Operating Segment) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2016USD ($)
Goodwill [Roll Forward]
Balance, beginning of period	$ 597.7
Acquisitions of businesses	74.3
Currency translation and other adjustments	0.9
Balance, end of period	672.9
Specialty Engineered Materials
Goodwill [Roll Forward]
Balance, beginning of period	98
Acquisitions of businesses	74.3
Currency translation and other adjustments	0.6
Balance, end of period	172.9
Color, Additives and Inks
Goodwill [Roll Forward]
Balance, beginning of period	342.2
Acquisitions of businesses	0
Currency translation and other adjustments	0.3
Balance, end of period	342.5
Designed Structures and Solutions
Goodwill [Roll Forward]
Balance, beginning of period	144.7
Acquisitions of businesses	0
Currency translation and other adjustments	0
Balance, end of period	144.7
Performance Products and Solutions
Goodwill [Roll Forward]
Balance, beginning of period	11.2
Acquisitions of businesses	0
Currency translation and other adjustments	0
Balance, end of period	11.2
PolyOne Distribution
Goodwill [Roll Forward]
Balance, beginning of period	1.6
Acquisitions of businesses	0
Currency translation and other adjustments	0
Balance, end of period	$ 1.6

Goodwill and Intangible Asset31

Goodwill and Intangible Assets (Schedule of Indefinite and Finite-Lived Intangible Assets) (Details) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Intangible Assets [Line Items]
Acquisition Cost	$ 474.7	$ 432.7
Accumulated Amortization	(104.1)	(87.8)
Currency Translation	(0.4)	(0.3)
Net	370.2	344.6
Indefinite-lived trade names
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	100.3	96.3
Customer relationships
Intangible Assets [Line Items]
Acquisition Cost	218.1	199.4
Accumulated Amortization	(49.6)	(42.1)
Currency Translation	(0.1)	0
Net	168.4	157.3
Patents, technology and other
Intangible Assets [Line Items]
Acquisition Cost	156.3	137
Accumulated Amortization	(54.5)	(45.7)
Currency Translation	(0.3)	(0.3)
Net	$ 101.5	$ 91

Employee Separation and Restr32

Employee Separation and Restructuring Costs (Narrative) (Details)	3 Months Ended		6 Months Ended	9 Months Ended		12 Months Ended	15 Months Ended
	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Dec. 31, 2015facility	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Dec. 31, 2013officefacility	Sep. 30, 2016USD ($)
Restructuring Cost and Reserve [Line Items]
Charged to expense	$ 4,600,000	$ 13,700,000		$ 16,500,000	$ 31,800,000
Accelerated depreciation costs				3,300,000	4,600,000
DSS Manufacturing Facility Closure and Corporate Administrative Reduction | Facility Closing
Restructuring Cost and Reserve [Line Items]
Charged to expense	2,500,000	10,500,000		9,300,000	10,500,000		$ 26,400,000
Number of facilities closed | facility			2
Severance costs							8,700,000
Accelerated depreciation costs							9,100,000
Other associated restructuring costs							4,400,000
DSS Manufacturing Facility Closure and Corporate Administrative Reduction | Asset and Deprecation Charges
Restructuring Cost and Reserve [Line Items]
Charged to expense							$ 13,300,000
Spartech | Facility Closing
Restructuring Cost and Reserve [Line Items]
Charged to expense		2,000,000		0	17,000,000
Number of facilities closed | facility						7
Spartech | Administrative Office Closing
Restructuring Cost and Reserve [Line Items]
Number of facilities closed | office						1
Cost of Goods Sold
Restructuring Cost and Reserve [Line Items]
Charged to expense	1,100,000	11,600,000		5,700,000	24,800,000
Selling and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Charged to expense	$ 3,500,000	$ 2,100,000		$ 10,800,000	$ 7,000,000

Inventories, Net (Components of

Inventories, Net (Components of Inventories) (Details) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Inventory Disclosure [Abstract]
Finished products	$ 202	$ 172.7
Work in process	6.6	5
Raw materials and supplies	117	109.3
Inventories, net	$ 325.6	$ 287

Property, Net (Details)

Property, Net (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Property, gross	$ 1,544.8		$ 1,469.9
Less accumulated depreciation and amortization	(939.8)		(886.4)
Property, net	605		583.5
Depreciation expense	61.7	$ 63.5
Accelerated depreciation costs	3.3	$ 4.6
Land
Property, Plant and Equipment [Line Items]
Property, gross	48.6		46.9
Buildings
Property, Plant and Equipment [Line Items]
Property, gross	340.7		318.3
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, gross	$ 1,155.5		$ 1,104.7

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Effective income tax rate	24.30%	13.40%	26.90%	15.70%
(Benefit) expense for uncertain tax positions	(3.30%)	(14.60%)	(0.90%)	0.40%
Foreign tax credits from amending prior period returns	0.00%	1.90%	1.70%	18.10%

Income Taxes (Effective Income

Income Taxes (Effective Income Tax Rate Reconciliation) (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Income tax expense at 35%	35.00%	35.00%	35.00%	35.00%
Foreign mix of earnings	(6.50%)	(5.00%)	(4.80%)	(3.90%)
Uncertain tax positions	(3.30%)	(14.60%)	(0.90%)	0.40%
Foreign tax credits from amending prior period returns	(0.00%)	(1.90%)	(1.70%)	(18.10%)
Other, net	(0.90%)	(0.10%)	(0.70%)	2.30%
Effective Income Tax Rate	24.30%	13.40%	26.90%	15.70%

Weighted-Average Shares Used 37

Weighted-Average Shares Used in Computing Earnings Per Common Share (Schedule of Weighted-Average Shares Used in Computing Earnings Per Share) (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Earnings Per Share [Abstract]
Weighted-average common shares outstanding - basic (in shares)	83.9	87.5	84.2	88.5
Plus dilutive impact of share-based compensation (in shares)	0.6	0.9	0.6	0.9
Weighted-average common shares - diluted (in shares)	84.5	88.4	84.8	89.4

Weighted-Average Shares Used 38

Weighted-Average Shares Used in Computing Earnings Per Common Share (Narrative) (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Earnings Per Share [Abstract]
Equity-based awards excluded (in shares)	0.2	0.2	0.2	0

Employee Benefit Plans (Compone

Employee Benefit Plans (Components of Net Period Benefit Costs) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Defined Benefit Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 0.2	$ 0.4	$ 0.7	$ 1.3
Interest cost	5	5.3	15.4	16
Expected return on plan assets	(7.8)	(8.2)	(23.5)	(24.6)
Net periodic benefit gains	(2.6)	(2.5)	(7.4)	(7.3)
Post-retirement Health Care Plan Benefit
Defined Benefit Plan Disclosure [Line Items]
Interest cost	0.2	0.1	0.4	0.4
Net periodic benefit gains	$ 0.2	$ 0.1	$ 0.4	$ 0.4

Financing Arrangements (Compone

Financing Arrangements (Components of Long-Term Debt) (Details) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Long-term debt, Principal Amount	$ 1,275.8	$ 1,163.5
Long-term debt, Unamortized discount and debt issuance cost	16.3	16.9
Total long-term debt	1,259.5	1,146.6
Less short-term and current portion of long-term debt, Principal Amount	19.3	18.6
Less short-term and current portion of long-term debt, Unamortized discount and debt issuance cost	0	0
Less short-term and current portion of long-term debt	19.3	18.6
Total long-term debt, net of current portion, Principal Amount	1,256.5	1,144.9
Total long-term debt, net of current portion, Unamortized discount and debt issuance cost	16.3	16.9
Total long-term debt, net of current portion	1,240.2	1,128
Senior secured term loan due 2022 | Loans Payable
Debt Instrument [Line Items]
Long-term debt, Principal Amount	645.6	550
Long-term debt, Unamortized discount and debt issuance cost	8.9	8.6
Total long-term debt	636.7	541.4
5.25% senior notes due 2023 | Senior Notes
Debt Instrument [Line Items]
Long-term debt, Principal Amount	600	600
Long-term debt, Unamortized discount and debt issuance cost	7.4	8.3
Total long-term debt	$ 592.6	$ 591.7
Interest rate of senior notes due 2023	5.25%	5.25%
Other debt
Debt Instrument [Line Items]
Long-term debt, Principal Amount	$ 30.2	$ 13.5
Long-term debt, Unamortized discount and debt issuance cost	0	0
Total long-term debt	$ 30.2	$ 13.5

Financing Arrangements (Narrati

Financing Arrangements (Narrative) (Details) - USD ($)	Aug. 03, 2016	Jun. 15, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015	Nov. 12, 2015
Debt Instrument [Line Items]
Debt extinguishment costs recognized			$ 0	$ 0	$ 400,000	$ 0
Total aggregate principal repayments					4,400,000	$ 0
Outstanding borrowings			1,275,800,000		1,275,800,000		$ 1,163,500,000
Fair value of debt instruments			1,279,900,000		1,279,900,000		1,136,200,000
Amount of long-term debt			1,259,500,000		1,259,500,000		$ 1,146,600,000
Saudi Hollandi Bank
Debt Instrument [Line Items]
Amount outstanding			$ 12,600,000		$ 12,600,000
Line of credit interest rate			2.67%		2.67%
Saudi Hollandi Bank | SAIBOR
Debt Instrument [Line Items]
Fixed rate on line of credit					0.85%
Saudi Hollandi Bank | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing facility size			$ 16,000,000		$ 16,000,000
Outstanding letters of credit			$ 200,000		$ 200,000
Senior secured term loan due 2022
Debt Instrument [Line Items]
Aggregate principal amount								$ 550,000,000
Annual principal payment, percentage of current principal amount								1.00%
Additional incremental principal amount of debt issued	$ 100,000,000
Weighted average annual interest rate			3.50%		3.65%
Total aggregate principal repayments					$ 4,400,000
Senior secured term loan due 2022 | Secured Debt
Debt Instrument [Line Items]
Interest rate reduction		0.25%
Stated interest rate		2.75%
Senior secured term loan due 2022 | London Interbank Offered Rate (LIBOR) | Secured Debt
Debt Instrument [Line Items]
Stated interest rate		0.75%
5.25% senior notes due 2023 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate			5.25%		5.25%		5.25%
Outstanding borrowings			$ 600,000,000		$ 600,000,000		$ 600,000,000
Amount of long-term debt			$ 592,600,000		$ 592,600,000		$ 591,700,000
Senior Notes due 2023 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate			5.25%		5.25%
Revolving credit facility due 2018
Debt Instrument [Line Items]
Outstanding borrowings			$ 0		$ 0
Revolving credit facility due 2018 | Canadian Line of Credit
Debt Instrument [Line Items]
Canadian line of credit outstanding					$ 0
Revolving credit facility due 2018 | US Line of Credit | Federal Funds Effective Swap Rate
Debt Instrument [Line Items]
Fixed rate on line of credit					0.50%
Revolving credit facility due 2018 | US Line of Credit | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Fixed rate on line of credit					1.00%
Revolving credit facility due 2018 | Various Banks | Revolving Credit Facility
Debt Instrument [Line Items]
Weighted average annual interest rate			4.00%		3.13%
Maximum borrowing facility size			$ 400,000,000		$ 400,000,000
Potential maximum borrowing capacity			450,000,000		450,000,000
Current borrowing availability			$ 381,700,000		$ 381,700,000

Segment Information (Schedule o

Segment Information (Schedule of Segment Information) (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)segment	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Segment Reporting [Abstract]
Number of reportable segments | segment			5
Segment Reporting Information [Line Items]
Sales	$ 843.6	$ 841.6	$ 2,552.1	$ 2,601.8
Operating Income	71.2	69.2	224	219.6
Assets	2,749.8		2,749.8		$ 2,595.1
Color, Additives and Inks
Segment Reporting Information [Line Items]
Sales	191.3	198.9	598.5	618.7
Specialty Engineered Materials
Segment Reporting Information [Line Items]
Sales	132.6	123.6	392.6	382.2
Designed Structures and Solutions
Segment Reporting Information [Line Items]
Sales	96.9	109.3	308.3	339.4
Performance Products and Solutions
Segment Reporting Information [Line Items]
Sales	152.4	154.3	449.6	480.7
PolyOne Distribution
Segment Reporting Information [Line Items]
Sales	270.4	255.5	803.1	780.8
Operating Segments | Color, Additives and Inks
Segment Reporting Information [Line Items]
Sales	195.9	199.9	613	625.8
Operating Income	31.4	34.5	104.5	107.9
Assets	938.2		938.2		939.5
Operating Segments | Specialty Engineered Materials
Segment Reporting Information [Line Items]
Sales	146.2	136	430.5	417.6
Operating Income	20.5	20	65.3	63.2
Assets	540		540		353.4
Operating Segments | Designed Structures and Solutions
Segment Reporting Information [Line Items]
Sales	97	112.4	308.8	343.1
Operating Income	(0.5)	4.3	0.9	12
Assets	450.8		450.8		449.5
Operating Segments | Performance Products and Solutions
Segment Reporting Information [Line Items]
Sales	171.3	175.2	510.3	541.4
Operating Income	18	16.1	59	43.9
Assets	252.7		252.7		237.4
Operating Segments | PolyOne Distribution
Segment Reporting Information [Line Items]
Sales	274.8	259.5	816.2	792
Operating Income	18.2	17.6	53.5	52.4
Assets	231.5		231.5		200
Corporate and eliminations
Segment Reporting Information [Line Items]
Sales	(41.6)	(41.4)	(126.7)	(118.1)
Operating Income	(16.4)	$ (23.3)	(59.2)	$ (59.8)
Assets	$ 336.6		$ 336.6		$ 415.3

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Sep. 30, 2016USD ($)mi	Mar. 31, 2016companymi	Mar. 04, 2016USD ($)mi	Mar. 13, 2013companymi	Feb. 28, 2011	Mar. 31, 2015entityparty	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Schedule of Equity Method Investments [Line Items]
Accrued probable future environmental expenditures	$ 118.2						$ 118.2		$ 119.9
SunBelt
Schedule of Equity Method Investments [Line Items]
Equity interest sold, percentage					50.00%
Guarantee assumed by acquirer	$ 12.2						12.2
Cost of Sales
Schedule of Equity Method Investments [Line Items]
Expense related to environmental activities							6.1	$ 7.8
Proceeds from insurance recoveries							$ 5.3	$ 2.6
Contamination of Passaic River Study Area
Schedule of Equity Method Investments [Line Items]
Approximate number of other companies assuming responsibility | company				70
Number of other potentially responsible parties that submitted a de minimis settlement petition | party						9
Contamination of Passaic River Study Area | Lower Passaic River
Schedule of Equity Method Investments [Line Items]
Length of portion of river | mi	8	8	8	17
Number of entities contributing little or no impact to lower passaic river | entity						10
Total estimated cost of remedy			$ 1,400
Number of companies receiving Notice of Potential Liability (more than) | company		100

Equity (Schedule of Changes in

Equity (Schedule of Changes in Equity) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Changes in Equity [Rollforward]
Balance at beginning of period			$ 705.2	$ 777.2
Net income (loss)	$ 42.3	$ 44.5	131.3	141.7
Other comprehensive income
Translation adjustments	0.7	(9.2)	(3.6)	(23.8)
Unrealized gain on available-for-sale securities	0.2	(0.4)	0.2	0
Total comprehensive income	43.2	34.9	127.9	117.9
Cash dividend declared			(29.7)	(26.8)
Repurchase of common shares			(50.7)	(121.5)
Share-based incentive plan activity			3.6	2.2
Balance at end of period	756.3	749	756.3	749
PolyOne Shareholders' Equity
Changes in Equity [Rollforward]
Balance at beginning of period			704.2	776.3
Net income (loss)			131.4	141.5
Other comprehensive income
Translation adjustments			(3.6)	(23.8)
Unrealized gain on available-for-sale securities			0.2
Total comprehensive income			128	117.7
Cash dividend declared			(29.7)	(26.8)
Repurchase of common shares			(50.7)	(121.5)
Share-based incentive plan activity			3.6	2.2
Balance at end of period	755.4	747.9	755.4	747.9
Noncontrolling Interests
Changes in Equity [Rollforward]
Balance at beginning of period			1	0.9
Net income (loss)			(0.1)	0.2
Other comprehensive income
Translation adjustments			0	0
Unrealized gain on available-for-sale securities			0
Total comprehensive income			(0.1)	0.2
Cash dividend declared			0	0
Repurchase of common shares			0	0
Share-based incentive plan activity			0	0
Balance at end of period	$ 0.9	$ 1.1	$ 0.9	$ 1.1

Equity (Schedule of Accumulated

Equity (Schedule of Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at beginning of period			$ 705.2	$ 777.2
Translation adjustments	$ 0.7	$ (9.2)	(3.6)	(23.8)
Unrealized gain on available-for-sale securities	0.2	(0.4)	0.2	0
Balance at end of period	756.3	749	756.3	749
Cumulative Translation Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at beginning of period			(76.8)	(47.7)
Translation adjustments			(3.6)	(23.8)
Unrealized gain on available-for-sale securities			0
Balance at end of period	(80.4)	(71.5)	(80.4)	(71.5)
Pension and Other Post-Retirement Benefits
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at beginning of period			5.2	5.2
Translation adjustments			0	0
Unrealized gain on available-for-sale securities			0
Balance at end of period	5.2	5.2	5.2	5.2
Unrealized Gain in Available-for-Sale Securities
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at beginning of period			0.3	0.2
Translation adjustments			0	0
Unrealized gain on available-for-sale securities			0.2
Balance at end of period	0.5	0.2	0.5	0.2
Total
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at beginning of period			(71.3)	(42.3)
Balance at end of period	$ (74.7)	$ (66.1)	$ (74.7)	$ (66.1)