Avient (AVNT) 10-K 20 Feb 24 2023 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2023	Feb. 07, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	1-16091
Entity Registrant Name	Avient Corporation
Entity Incorporation, State or Country Code	OH
Entity Tax Identification Number	34-1730488
Entity Address, Address Line One	Avient Center
Entity Address, Address Line Two	33587 Walker Road
Entity Address, Postal Zip Code	44012
Entity Address, City or Town	Avon Lake
Entity Address, State or Province	OH
City Area Code	440
Local Phone Number	930-1000
Title of 12(b) Security	Common Shares, par value $.01 per share
Trading Symbol	AVNT
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 3.7
Entity Common Stock, Shares Outstanding		91,179,276
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Part III of this Annual Report on Form 10-K incorporates by reference certain information from the registrant’s definitive Proxy Statement with respect to the 2024 Annual Meeting of Shareholders.
Entity Central Index Key	0001122976
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2023
Audit Information [Abstract]
Auditor Name	Ernst & Young LLP
Auditor Location	Cleveland, Ohio
Auditor Firm ID	42

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Sales	$ 3,142.8	$ 3,396.9	$ 3,315.5
Cost of sales	2,250.3	2,514.2	2,371.7
Gross margin	892.5	882.7	943.8
Selling and administrative expense	695.7	639.4	664.1
Operating income	196.8	243.3	279.7
Interest expense, net	(115.3)	(119.8)	(75.2)
Other income (expense), net	5.8	(59.7)	(1)
Income from continuing operations before income taxes	87.3	63.8	203.5
Income tax (expense) benefit	(11)	19.3	(51.9)
Net income from continuing operations	76.3	83.1	151.6
(Loss) income from discontinued operations, net of income taxes	(0.1)	620.3	79
Net income	76.2	703.4	230.6
Net (income) loss attributable to noncontrolling interests	(0.5)	(0.3)	0.2
Net income attributable to Avient common shareholders	$ 75.7	$ 703.1	$ 230.8
Earnings per share attributable to Avient common shareholders - Basic:
Continuing operations (in usd per share)	$ 0.83	$ 0.91	$ 1.66
Discontinued operations (in usd per share)	0	6.80	0.87
Total (in usd per share)	0.83	7.71	2.53
Earnings per share attributable to Avient common shareholders - Diluted:
Continuing operations (in usd per share)	0.83	0.90	1.65
Discontinued operations (in usd per share)	0	6.73	0.86
Total (in usd per share)	$ 0.83	$ 7.63	$ 2.51
Weighted-average shares used to compute earnings per common share:
Basic (in shares)	91.1	91.2	91.4
Plus dilutive impact of share-based compensation (in shares)	0.7	1	0.7
Diluted (in shares)	91.8	92.2	92.1
Anti-dilutive shares not included in diluted common shares outstanding (in shares)	0.7	0.3	0
Cash dividends declared per share of common stock (in usd per share)	$ 1	$ 0.960	$ 0.875

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 76.2	$ 703.4	$ 230.6
Other comprehensive (loss) income, net of tax:
Translation adjustments and related hedging instruments	(5.3)	(38.7)	(75.2)
Cash flow hedges	0	2.3	3.2
Pension and postretirement benefits	(6.3)	6.2	0
Total other comprehensive loss	(11.6)	(30.2)	(72)
Total comprehensive income	64.6	673.2	158.6
Comprehensive (income) loss attributable to noncontrolling interests	(0.5)	(0.3)	0.2
Comprehensive income attributable to Avient common shareholders	$ 64.1	$ 672.9	$ 158.8

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 545.8	$ 641.1
Accounts receivable, net	399.9	440.6
Inventories, net	347	372.7
Other current assets	114.9	115.3
Total current assets	1,407.6	1,569.7
Property, net	1,028.9	1,049.2
Goodwill	1,719.3	1,671.9
Intangible assets, net	1,590.8	1,597.6
Operating lease assets, net	65.3	60.4
Other non-current assets	156.6	136.2
Total assets	5,968.5	6,085
Current liabilities:
Short-term and current portion of long-term debt	9.5	2.2
Accounts payable	432.3	454.4
Current operating lease obligations	16.6	17
Accrued expenses and other current liabilities	315.2	395.8
Total current liabilities	773.6	869.4
Non-current liabilities:
Long-term debt	2,070.5	2,176.7
Pension and other post-retirement benefits	67.2	67.2
Deferred income taxes	281.6	342.5
Non-current operating lease obligations	43.2	40.9
Other non-current liabilities	394.4	235.5
Total non-current liabilities	2,856.9	2,862.8
SHAREHOLDERS' EQUITY
Common Shares, $0.01 par, 400.0 shares authorized, 122.2 shares issued	1.2	1.2
Additional paid-in capital	1,529.7	1,520.5
Retained earnings	1,808.2	1,823.6
Common shares held in treasury, at cost, 31.0 shares in 2023 and 31.3 shares in 2022	(932.5)	(935)
Accumulated other comprehensive loss	(87.4)	(75.8)
Avient shareholders’ equity	2,319.2	2,334.5
Noncontrolling interest	18.8	18.3
Total equity	2,338	2,352.8
Total liabilities and equity	$ 5,968.5	$ 6,085

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common shares, par value (in usd per share)	$ 0.01	$ 0.01
Common shares, authorized (in shares)	400,000,000	400,000,000
Common shares, issued (in shares)	122,200,000	122,200,000
Treasury stock, shares (in shares)	31,000,000	31,300,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating activities
Net income	$ 76.2	$ 703.4	$ 230.6
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on sale of business, net of tax expense	0	(550.1)	0
Depreciation and amortization	186.9	157.6	144.2
Accelerated depreciation	1.9	5.5	1.7
Amortization of inventory step-up	0	34.4	1.5
Deferred income tax (benefit) expense	(61.3)	0.5	(27.3)
Share-based compensation expense	13.2	13.2	11.2
Changes in assets and liabilities, net of the effect of acquisitions:
Decrease (increase) in accounts receivable	38.6	32.6	(143.1)
Decrease (increase) in inventories	24.3	14	(141)
(Decrease) increase in accounts payable	(22.2)	10.7	95.3
(Decrease) increase in pension and other post-retirement benefits	(15.1)	7.1	(10.9)
Taxes paid on gain on sale of business	(104.1)	(2.8)	0
Accrued expenses and other assets and liabilities, net	63.2	(27.7)	71.6
Net cash provided by operating activities	201.6	398.4	233.8
Investing activities
Capital expenditures	(119.4)	(105.5)	(100.6)
Business acquisitions, net of cash acquired	0	(1,426.1)	(47.6)
Settlement of foreign exchange derivatives	0	93.3	0
Net proceeds from divestiture	7.3	928.2	0
Proceeds from plant closures	7.6	6.1	0
Other investing activities	10.3	0	(2)
Net cash used by investing activities	(94.2)	(504)	(150.2)
Financing activities
Debt offering proceeds	0	1,300	0
Purchase of common shares for treasury	0	(36.4)	(4.2)
Cash dividends paid	(90.2)	(86.8)	(77.7)
Repayment of long-term debt	(105.8)	(956.8)	(18.5)
Payments on withholding tax on share awards	(3.4)	(4.3)	(10.7)
Debt financing costs	(2.3)	(49.3)	0
Other financing activities	0	0	(3.5)
Net cash (used) provided by financing activities	(201.7)	166.4	(114.6)
Effect of exchange rate changes on cash	(1)	(20.9)	(17.3)
(Decrease) increase in cash and cash equivalents	(95.3)	39.9	(48.3)
Cash and cash equivalents at beginning of year	641.1	601.2	649.5
Cash and cash equivalents at end of year	$ 545.8	$ 641.1	$ 601.2

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) shares in Millions, $ in Millions	Total	Total Avient Shareholders' Equity	Common Shares	Common Shares  Held in Treasury	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss (Income)	Non-controlling Interests
Beginning balance (in shares) at Dec. 31, 2020			122.2
Beginning balance (in shares) at Dec. 31, 2020				(30.9)
Beginning balance at Dec. 31, 2020	$ 1,711.7	$ 1,697.1	$ 1.2	$ (901.2)	$ 1,513.3	$ 1,057.4	$ 26.4	$ 14.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	230.6	230.8				230.8		(0.2)
Other comprehensive loss	(72)	(72)					(72)
Noncontrolling interest activity	1.4							1.4
Cash dividends declared	(80.2)	(80.2)				(80.2)
Repurchase of common shares (in shares)				(0.1)
Repurchase of common shares	(4.2)	(4.2)		$ (4.2)
Share-based compensation and exercise of awards (in shares)				0.4
Share-based compensation and exercise of awards	5.6	5.6		$ 4.7	0.9
Acquisitions/other	(2.4)	(2.4)			(2.4)
Ending balance (in shares) at Dec. 31, 2021			122.2
Ending balance (in shares) at Dec. 31, 2021				(30.6)
Ending balance at Dec. 31, 2021	1,790.5	1,774.7	$ 1.2	$ (900.7)	1,511.8	1,208	(45.6)	15.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	703.4	703.1				703.1		0.3
Other comprehensive loss	(30.2)	(30.2)					(30.2)
Cash dividends declared	(87.5)	(87.5)				(87.5)
Repurchase of common shares (in shares)				(0.8)
Repurchase of common shares	(36.4)	(36.4)		$ (36.4)
Share-based compensation and exercise of awards (in shares)				0.1
Share-based compensation and exercise of awards	10.8	10.8		$ 2.1	8.7
Acquisitions/other	$ 2.2							2.2
Ending balance (in shares) at Dec. 31, 2022			122.2
Ending balance (in shares) at Dec. 31, 2022	(31.3)			(31.3)
Ending balance at Dec. 31, 2022	$ 2,352.8	2,334.5	$ 1.2	$ (935)	1,520.5	1,823.6	(75.8)	18.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	76.2	75.7				75.7		0.5
Other comprehensive loss	(11.6)	(11.6)					(11.6)
Cash dividends declared	$ (91.1)	(91.1)				(91.1)
Share-based compensation and exercise of awards (in shares)	0.3
Share-based compensation and exercise of awards	$ 11.7	11.7		$ 2.5	9.2
Ending balance (in shares) at Dec. 31, 2023			122.2
Ending balance (in shares) at Dec. 31, 2023	(31)			(31)
Ending balance at Dec. 31, 2023	$ 2,338	$ 2,319.2	$ 1.2	$ (932.5)	$ 1,529.7	$ 1,808.2	$ (87.4)	$ 18.8

Consolidated Statements of Sh_2

Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Stockholders' Equity [Abstract]
Cash dividends declared per share of common stock (in usd per share)	$ 1	$ 0.960	$ 0.875

DESCRIPTION Of BUSINESS AND SUM

DESCRIPTION Of BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Note 1 — DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Description of Business We are a premier formulator of specialized and sustainable materials solutions that transform customer challenges into opportunities, bringing new products to life for a better world. Our products include specialty engineered materials, performance fibers, advanced composites, and color and additive systems. 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, and manufacturing across North America, South America, Europe, the Middle East, Asia, and Africa. We provide value to our customers through our ability to link our knowledge of polymers and formulation technology with our manufacturing and supply chain to provide value added solutions to designers, assemblers and processors of plastics. When used in these notes to the consolidated financial statements, the terms “we,” “us,” “our,” “Avient” and the “Company” mean Avient Corporation and its consolidated subsidiaries. Our operations are reported in two reportable segments: Color, Additives and Inks and Specialty Engineered Materials. See Note 15, Segment Information , for more information. Consolidation and Basis of Presentation The consolidated financial statements include the accounts of Avient and its subsidiaries. All majority-owned affiliates over which we have control are consolidated. Transactions with related parties, including joint ventures, are in the ordinary course of business. Historical information has been retrospectively adjusted to reflect the classification of discontinued operations. Discontinued operations are further discussed in Note 3, Discontinued Operations . Use of Estimates Preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions in certain circumstances that affect amounts reported in the accompanying consolidated financial statements and notes. Actual results could differ from these estimates. Cash and Cash Equivalents We consider all highly liquid investments purchased with a maturity of less than three months to be cash equivalents. Cash equivalents are stated at cost, which approximates fair value. Allowance for Doubtful Accounts We evaluate the collectability of receivables based on a combination of factors, each of which are adjusted if specific circumstances change. We reserve for amounts determined to be uncollectible based on a specific customer’s inability to meet its financial obligation to us. We also record a general reserve based on the age of receivables past due, current conditions and forecasted information, the credit risk of specific customers, economic conditions and historical experience. In estimating the allowance, we take into consideration the existence of credit insurance. Inventories Raw materials and finished goods are carried at lower of cost or market using either the weighted average cost or the first-in, first-out (FIFO) method. Inventory reserves totaled $34.5 million and $32.1 million at December 31, 2023 and 2022, respectively. Long-lived Assets Property, plant and equipment is carried at cost, net of depreciation and amortization that is computed using the straight-line method over the estimated useful lives of the assets, which generally ranges from three We retain fully depreciated assets in property and accumulated depreciation accounts until we remove them from service. In the case of sale, retirement or disposal, the asset cost and related accumulated depreciation balance is removed from the respective account, and the resulting net amount, less any proceeds, is included as a component of income from continuing operations in the accompanying Consolidated Statements of Income . We account for operating and finance leases under the provisions of Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 842. Finite-lived intangible assets, which consist primarily of customer relationships, patents and technology are amortized over their estimated useful lives. The useful lives range up to 25 years. We assess the recoverability of long-lived assets when events or changes in circumstances indicate that we may not be able to recover the assets’ carrying amount. We measure the recoverability of assets to be held and used by a comparison of the carrying amount of the asset to the expected future undiscounted cash flows associated with the asset. We measure the amount of impairment of long-lived assets as the amount by which the carrying value of the asset exceeds the fair value of the asset, which is generally determined based on projected discounted future cash flows or appraised values. No such impairments were recognized during 2023, 2022 or 2021. Goodwill and Indefinite Lived Intangible Assets In accordance with the provisions of FASB ASC Topic 350, Intangibles — Goodwill and Other , we assess the fair value of goodwill on an annual basis or at an interim date if potential impairment indicators are present. Goodwill is the excess of the purchase price paid over the fair value of the net assets of the acquired business. Goodwill is tested for impairment, quantitatively or qualitatively, at the reporting unit level. The Company's reporting units are at a level below the Company's reportable operating segments. Goodwill is allocated to the reporting units based on the estimated fair value at the date of acquisition. Our annual measurement date for testing impairment of goodwill and indefinite-lived intangible assets is October 1. We test our goodwill either quantitatively or qualitatively for impairment. For our quantitative approach, we use an income approach to estimate the fair value of our reporting units. The income approach uses a reporting unit’s projection of estimated operating results and cash flows that is discounted using a weighted-average cost of capital that is determined based on current market conditions. The projection uses management’s best estimates of economic and market conditions over the projected period including growth rates in sales, costs, and estimates of future expected changes in operating margins and cash expenditures. Other significant estimates and assumptions include terminal value growth rates, terminal value margin rates, future capital expenditures and changes in future working capital requirements. We validate our estimates of fair value under the income approach by considering the implied control premium and conclude whether the implied control premium is reasonable based on other recent market transactions. Indefinite-lived intangible assets primarily consist of the Dyneema, GLS, ColorMatrix, Gordon Composites, and Fiber-Line trade names. Indefinite-lived intangible assets are tested, quantitatively or qualitatively, for impairment annually at the same time we test goodwill for impairment. For our quantitative approach, the implied fair value of indefinite-lived intangible assets is determined based on significant unobservable inputs, as summarized below. The fair value of the trade names is calculated using a “relief from royalty” methodology. This approach involves two steps: (1) estimating reasonable royalty rates for the trade name and (2) applying this royalty rate to a net sales stream and discounting the resulting cash flows to determine fair value using a weighted-average cost of capital that is determined based on current market conditions. This fair value is then compared with the carrying value of the trade name. A qualitative approach for both goodwill and indefinite-lived intangible assets can be performed if the last quantitative test exceeded certain thresholds. During our qualitative approach, we assess whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If, after assessing the totality of events and circumstances, we determine it is more likely than not that the fair value is less than carrying value, a quantitative impairment test is performed for each asset, as described above. Litigation Reserves FASB ASC Topic 450, Contingencies, requires that we accrue for loss contingencies associated with outstanding litigation, claims and assessments for which management has determined it is probable that a loss contingency exists and the amount of loss can be reasonably estimated. We recognize expense associated with professional fees related to litigation claims and assessments as incurred. Refer to Note 12, Commitments and Contingencies , for further information. Derivative Financial Instruments FASB ASC Topic 815, Derivative and Hedging , requires that all derivative financial instruments, such as foreign exchange contracts, be recognized in the financial statements and measured at fair value, regardless of the purpose or intent in holding them. We are exposed to foreign currency changes and to changes in cash flows due to changes in our contractually specified interest rates (e.g., SOFR) in the normal course of business. We have established policies and procedures that manage this exposure through the use of financial instruments. By policy, we do not enter into these instruments for trading purposes or speculation. 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, in accordance with ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities , we assess at inception whether the financial instruments used in the hedging transaction are highly effective at offsetting changes in either the fair values or cash flows of the underlying exposures. If highly effective, any subsequent test may be done qualitatively. The net interest payments accrued each month for effective instruments designated as a hedge 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 Accumulated Other Comprehensive Income (Loss) (AOCI) . Instruments not designated as hedges are adjusted to fair value at each period end, with the resulting gains and losses recognized in the accompanying Consolidated Statements of Income immediately. In 2022, we entered into foreign currency derivatives associated with the APM Acquisition that were not initially designated as hedges. Refer to Note 16, Derivatives and Hedging, for more information. Pension and Other Post-retirement Plans We account for our pensions and other post-retirement benefits in accordance with FASB ASC Topic 715, Compensation — Retirement Benefits . We immediately recognize actuarial gains and losses in our operating results in the year in which the gains or losses occur. Refer to Note 11, Employee Benefit Plans, for more information. Accumulated Other Comprehensive Income (Loss) Changes in accumulated other comprehensive income (loss) in 2023, 2022 and 2021 were as follows: (In millions) Cumulative Translation Adjustment and Related Hedging Instruments Pension and other post-retirement benefits Cash Flow Hedges Total Balance at January 1, 2021 $ 26.6 $ 5.2 $ (5.4) $ 26.4 Translation Adjustments (127.7) — — (127.7) Unrealized gains on derivatives 52.5 — 3.2 55.7 Balance at December 31, 2021 (48.6) 5.2 (2.2) (45.6) Translation Adjustments (60.3) — — (60.3) Unrealized gains on derivatives 21.6 — 2.3 23.9 Prior service credit — 6.2 — 6.2 Balance at December 31, 2022 (87.3) 11.4 0.1 (75.8) Translation Adjustments 90.9 — — 90.9 Unrealized losses on derivatives (96.1) — — (96.1) Amortization of prior service credit — (6.4) — (6.4) Balance at December 31, 2023 $ (92.5) $ 5.0 $ 0.1 $ (87.4) FASB ASC Topic 820, Fair Value Measurements and Disclosures, requires disclosures of the fair value of financial instruments. The estimated fair values of financial instruments were principally based on market prices where such prices were available and, where unavailable, fair values were estimated based on market prices of similar instruments. Foreign Currency Translation Revenues and expenses are translated at average currency exchange rates during the related period. Assets and liabilities of foreign subsidiaries are translated using the exchange rate at the end of the period. The resulting translation adjustments are recorded as accumulated other comprehensive income or loss. Gains and losses resulting from foreign currency transactions, including intercompany transactions that are not considered long-term investments, are included in Other income (expense), net. Revenue Recognition We recognize revenue once control of the product is transferred to the customer, which typically occurs when products are shipped from our facilities. Shipping and Handling Costs Shipping and handling costs are included in Cost of sales . Research and Development Expense Research and development costs of $90.3 million in 2023, $84.9 million in 2022 and $83.2 million in 2021 are charged to expense as incurred. Environmental Costs We expense costs that are associated with managing hazardous substances and pollution in ongoing operations on a current basis. Costs associated with environmental contamination are accrued when it becomes probable that a liability has been incurred and our proportionate share of the cost can be reasonably estimated. Any such provision is recognized using the Company's best estimate of the amount of loss incurred, or at the lower end of an estimated range, when a single best estimate is not determinable. In some cases, the Company recovers a portion of the costs relating to these obligations from insurers or other third parties, and the recovery is recognized when realization of the proceeds is deemed as probable. Share-Based Compensation We account for share-based compensation under the provisions of FASB ASC Topic 718, Compensation - Stock Compensation , which requires us to estimate the fair value of share-based awards on the date of grant. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service periods in the accompanying Consolidated Statements of Income . As of December 31, 2023, we had one active share-based employee compensation plan, which is described more fully in Note 14, Share-Based Compensation . Income Taxes Deferred income tax liabilities and assets are determined based upon the differences between the financial reporting and tax basis of assets and liabilities and are measured using the tax rate and laws currently in effect. In accordance with FASB ASC Topic 740, Income Taxes , we evaluate our deferred income taxes to determine whether a valuation allowance should be established against the deferred tax assets or whether the valuation allowance should be reduced based on consideration of all available evidence, both positive and negative, using a “more likely than not” standard. See Note 13, Income Taxes , for additional detail.

BUSINESS COMBINATIONS

BUSINESS COMBINATIONS	12 Months Ended
	Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]
BUSINESS COMBINATIONS	Note 2 — BUSINESS COMBINATIONS Acquisition of APM On September 1, 2022, the Company completed the acquisition of the DSM Protective Materials business, including the Dyneema® brand, the World's Strongest Fiber™. The ultra-light specialty fiber is used in demanding applications such as ballistic personal protection, marine and sustainable infrastructure, renewable energy, industrial protection and outdoor sports. The acquired business is collectively referred to as APM, and the acquisition is referred to as the APM Acquisition. The APM Acquisition enhances Avient's materials offerings of composites and engineered fibers, and results are recognized within the Specialty Engineered Materials segment. Total consideration paid by the Company to complete the APM Acquisition was $1.4 billion, net of cash acquired. The APM Acquisition was accounted for under the acquisition method of accounting in accordance with FASB ASC Topic 805. As of December 31, 2023, the purchase accounting for the APM Acquisition was complete. Measurement period adjustments since our preliminary estimates reported in our third quarter 2022 Form 10-Q are reflected in the table below. Measurement period adjustments recorded to the Consolidated Statements of Income were not material for the year ended December 31, 2023. (In millions) Preliminary Allocation as of 9/1/2022 Measurement Period Adjustments Final Allocation Cash and cash equivalents $ 50.7 — $ 50.7 Accounts receivable 52.2 1.8 54.0 Inventories 136.2 (8.1) 128.1 Other current assets 2.0 1.7 3.7 Property 361.9 (15.5) 346.4 Intangible assets: Indefinite-lived trade names 254.9 — 254.9 Customer relationships 198.7 20.0 218.7 Patents, technology, and other 275.1 — 275.1 Goodwill 277.1 129.7 406.8 Other non-current assets 12.3 (0.1) 12.2 Accounts payable 32.2 — 32.2 Accrued expenses and other current liabilities 12.9 0.3 13.2 Deferred tax liabilities 86.1 129.9 216.0 Noncontrolling interests — 2.3 2.3 Other non-current liabilities 13.1 (3.0) 10.1 Total purchase price consideration $ 1,476.8 $ — $ 1,476.8 Finite-lived intangible assets acquired have a useful life range of 17 to 20 years. Goodwill of $406.8 million resulting from the acquisition was recorded to the Specialty Engineered Materials segment. The goodwill recognized is primarily attributable to intangible assets that do not qualify for separate recognition and the deferred tax impact of applying purchase accounting. Goodwill is not deductible for tax purposes. Had the APM Acquisition occurred on January 1, 2021, sales and income from continuing operations before income taxes on a pro forma basis would have been as follows: Year Ended December 31, 2022 2021 Sales $ 3,653.0 $ 3,712.0 Income from continuing operations before income taxes 162.0 133.5 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 APM Acquisition occurred on January 1, 2021. These unaudited pro forma results do not represent financial results realized, nor are they intended to be a projection of future results. The pro forma income from continuing operations before income taxes for the years ended December 31, 2022 and 2021 gives effect to intangible amortization from the purchase price allocation and changes to interest expense resulting from the financing transactions associated with the APM Acquisition and sale of the Distribution business.

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS	12 Months Ended
	Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
DISCONTINUED OPERATIONS	On November 1, 2022, Avient sold its Distribution business to an affiliate of H.I.G. Capital for $950.0 million in cash consideration, subject to a customary working capital adjustment. Total proceeds were $935.5 million, of which $7.3 million was received in the year ended December 31, 2023. The results of the Distribution business are classified as discontinued operations for all years presented. The sale resulted in the recognition of an after-tax gain of $550.1 million, which is reflected within the Income from discontinued operations, net of income taxes line of the Consolidated Statements of Income . The following table summarizes the major line items constituting pretax income of discontinued operations associated with the Distribution business segment for the years ended December 31, 2023, 2022 and 2021. (In millions) 2023 2022 2021 Sales $ — $ 1,331.7 $ 1,503.3 Cost of sales — (1,191.9) (1,347.5) Selling and administrative expense (0.9) (41.9) (54.7) Pre-tax gain on sale — 717.0 — Income from discontinued operations before income taxes (0.9) 814.9 101.1 Income tax benefit (expense) 0.8 (194.6) (22.1) Income from discontinued operations, net of income taxes $ (0.1) $ 620.3 $ 79.0

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	Note 4 — GOODWILL AND INTANGIBLE ASSETS Changes in the carrying amount of goodwill by segment were as follows: (In millions) Specialty Engineered Materials Color, Additives and Inks Total Balance at January 1, 2022 $ 236.3 $ 1,048.5 $ 1,284.8 Acquisition of businesses 396.5 — 396.5 Currency translation 19.4 (28.8) (9.4) Balance at December 31, 2022 652.2 1,019.7 1,671.9 Acquisition of businesses 10.3 — 10.3 Currency translation 20.0 17.1 37.1 Balance at December 31, 2023 $ 682.5 $ 1,036.8 $ 1,719.3 Indefinite and finite-lived intangible assets consisted of the following: As of December 31, 2023 (In millions) Acquisition Cost Accumulated Amortization Currency Translation Net Customer relationships $ 726.2 $ (199.8) $ 20.0 $ 546.4 Patents, technology and other 841.8 (213.1) 22.5 651.2 Indefinite-lived trade names 368.0 — 25.2 393.2 Total $ 1,936.0 $ (412.9) $ 67.7 $ 1,590.8 As of December 31, 2022 (In millions) Acquisition Cost Accumulated Amortization Currency Translation Net Customer relationships $ 695.9 $ (164.3) $ 5.9 $ 537.5 Patents, technology and other 841.8 (168.8) 3.5 676.5 Indefinite-lived trade names 368.0 — 15.6 383.6 Total $ 1,905.7 $ (333.1) $ 25.0 $ 1,597.6 Amortization of finite-lived intangible assets included in continuing operations for the years ended December 31, 2023, 2022 and 2021 was $79.8 million, $63.6 million and $57.5 million, respectively. We expect finite-lived intangibles amortization expense for the next five years as follows: (In millions) 2024 2025 2026 2027 2028 Expected amortization expense $ 77.3 $ 77.3 $ 76.6 $ 74.5 $ 74.0

EMPLOYEE SEPARATION AND RESTRUC

EMPLOYEE SEPARATION AND RESTRUCTURING COSTS	12 Months Ended
	Dec. 31, 2023
Restructuring and Related Activities [Abstract]
EMPLOYEE SEPARATION AND RESTRUCTURING COSTS	Note 5 — EMPLOYEE SEPARATION AND RESTRUCTURING COSTS We are engaged in a restructuring program associated with our integration of Clariant Color. These actions are expected to enable us to better serve customers, improve efficiency and deliver cost savings. We expect that the restructuring plan will be primarily implemented by the end of 2024 and anticipate that we will incur approximately $75.0 million of charges in connection with the restructuring plan. As of December 31, 2023, $60.3 million has been incurred. A summary of the Clariant Color integration restructuring is shown below: (In millions) Workforce reductions Plant closing and other Total Balance at January 1, 2021 $ 5.6 $ 0.4 $ 6.0 Restructuring costs 7.7 4.3 12.0 Payments, utilization and translation (5.8) (4.1) (9.9) Balance at December 31, 2021 $ 7.5 $ 0.6 $ 8.1 Restructuring costs 30.8 2.1 32.9 Payments, utilization and translation (4.0) (0.3) (4.3) Balance at December 31, 2022 $ 34.3 $ 2.4 $ 36.7 Restructuring costs 6.9 1.2 8.1 Payments, utilization and translation (10.9) (2.8) (13.7) Balance at December 31, 2023 $ 30.3 $ 0.8 $ 31.1 Total restructuring costs included in the Consolidated Statements of Income for the years ended December 31, 2023, 2022 and 2021 are shown in the table below, and are primarily associated with the Clariant Color integration. (In millions) 2023 2022 2021 Cost of goods sold $ 11.9 $ 31.1 $ 14.5 Selling and administrative expenses 14.5 7.0 0.2 Total employee separation and restructuring charges $ 26.4 $ 38.1 $ 14.7

FINANCING ARRANGEMENTS

FINANCING ARRANGEMENTS	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
FINANCING ARRANGEMENTS	Note 6 — FINANCING ARRANGEMENTS For each of the periods presented, total debt consisted of the following: As of December 31, 2023 (in millions) Principal Amount Unamortized discount and debt issuance cost Net Debt Weighted average interest rate Senior secured revolving credit facility due 2026 $ — $ — $ — — % Senior secured term loan due 2029 727.9 18.9 709.0 7.88 % 5.75% senior notes due 2025 650.0 2.8 647.2 5.75 % 7.125% senior notes due 2030 725.0 8.8 716.2 7.125 % Other Debt 7.6 — 7.6 Total Debt 2,110.5 30.5 2,080.0 Less short-term and current portion of long-term debt 9.5 — 9.5 Total long-term debt, net of current portion $ 2,101.0 $ 30.5 $ 2,070.5 As of December 31, 2022 (in millions) Principal Amount Unamortized discount and debt issuance cost Net Debt Weighted average interest rate Senior secured revolving credit facility due 2026 $ — $ — $ — — % Senior secured term loan due 2026 426.9 3.3 423.6 3.81 % Senior secured term loan due 2029 404.7 19.2 385.5 6.53 % 5.75% senior notes due 2025 650.0 4.8 645.2 5.75 % 7.125% senior notes due 2030 725.0 10.1 714.9 7.125 % Other Debt 9.7 — 9.7 Total Debt 2,216.3 37.4 2,178.9 Less short-term and current portion of long-term debt 2.2 — 2.2 Total long-term debt, net of current portion $ 2,214.1 $ 37.4 $ 2,176.7 On August 16, 2023, the Company refinanced its senior secured term loans by amending its Credit Agreement (the Term Loan Amendment). Pursuant to the Term Loan Amendment, Avient incurred a new tranche of Senior Secured Term Loan due 2029 in an aggregate principal amount of $731.6 million. The proceeds, together with $102.3 million of cash on hand, were used to settle all of the outstanding principal of previous tranches of senior secured term loans. The amendment aligned the maturity date for all of the Company’s term loan debt to August 29, 2029. The amendment also aligned and reduced the interest rates per annum, which now are either (i) Adjusted Term SOFR (as defined in the Term Loan Amendment) plus 2.50%, or (ii) a Base Rate (as defined in the Term Loan Amendment) plus 1.50%. We recognized $1.9 million related to the write-off of unamortized issuance costs and discounts within Interest expense, net for the year ended December 31, 2023 as a result of the amendment. The Company maintains a senior secured revolving credit facility (the Revolving Credit Facility), which matures on October 26, 2026 and provides a maximum borrowing facility size of $500.0 million, subject to a borrowing base with advances against certain U.S. and international accounts receivable, inventory and other assets as specified in the agreement. As of December 31, 2023, we had no borrowings outstanding under our Revolving Credit Facility, which had remaining availability of $199.7 million. The agreements governing our Revolving Credit Facility and 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: sell or otherwise transfer assets, including in a spin-off, incur additional debt or liens, consolidate or merge with any entity or transfer or sell all or substantially all of our assets, pay dividends or make certain other restricted payments, make investments, enter into transactions with affiliates, create dividend or other payment restrictions with respect to subsidiaries, make capital investments and alter the business we conduct. As of December 31, 2023, we were in compliance with all covenants. The estimated fair value of Avient’s debt instruments at December 31, 2023 and 2022 was $2,113.7 million and $2,153.1 million, respectively, compared to carrying values of $2,080.0 million and $2,178.9 million as of December 31, 2023 and 2022, respectively. The fair value of Avient’s debt instruments was estimated using prevailing market interest rates on debt with similar creditworthiness, terms and maturities and represent Level 2 measurements within the fair value hierarchy. Aggregate maturities of the principal amount of debt for the next five years and thereafter are as follows: (In millions) 2024 $ 9.5 2025 659.6 2026 7.8 2027 7.7 2028 7.7 Thereafter 1,418.2 Aggregate maturities $ 2,110.5 Included in Interest expense, net for the years ended December 31, 2023, 2022 and 2021 was interest income of $49.8 million, $34.0 million, and $17.5 million, respectively. Total interest paid on debt, net of the impact of hedging (see Note 16, Derivatives and Hedging ), was $106.3 million in 2023, $69.4 million in 2022 and $72.6 million in 2021.

LEASING ARRANGEMENTS

LEASING ARRANGEMENTS	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
LEASING ARRANGEMENTS	Note 7 — LEASING ARRANGEMENTS We lease certain manufacturing facilities, warehouse space, machinery and equipment, vehicles and information technology equipment under operating leases. The majority of our leases are operating leases. Finance leases are immaterial to our consolidated financial statements. Operating lease assets and obligations are reflected within Operating lease assets, net, Current operating lease obligations, and Non-current operating lease obligations, respectively. Lease expense for these leases is recognized on a straight-line basis over the lease term, with variable lease payments recognized in the period those payments are incurred. The components of lease cost from continued operations recognized within our Consolidated Statements of Income for the years ended December 31, 2023, 2022 and 2021 were as follows: (In millions) 2023 2022 2020 Cost of sales $ 19.7 $ 18.8 $ 20.1 Selling and administrative expense 11.6 10.1 9.3 Total operating lease cost $ 31.4 $ 28.9 $ 29.4 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 December 31, 2023 and 2022 was 5.6 years and 5.7 years, respectively. The non-cash net increase in operating lease liabilities was $18.1 million, $13.8 million and $8.3 million for the years ended December 31, 2023, 2022 and 2021, 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 rate used to measure our operating lease liabilities as of December 31, 2023 and 2022 were 5.0% and 4.8%, respectively. Future minimum lease payments under non-cancelable operating leases with initial lease terms longer than one year as of December 31, 2023 are as follows: Maturity Analysis of Lease Liabilities: (In millions) 2023 2024 $ 20.3 2025 13.8 2026 10.1 2027 8.2 2028 4.8 Thereafter 12.3 Total $ 69.5 Less amount of lease payment representing interest (9.7) Total present value of lease payments $ 59.8

INVENTORIES, NET

INVENTORIES, NET	12 Months Ended
	Dec. 31, 2023
Inventory Disclosure [Abstract]
INVENTORIES, NET	Note 8 — INVENTORIES, NET Components of Inventories, net as of December 31, 2023 and 2022 are as follows: (In millions) 2023 2022 Finished products $ 166.0 $ 157.7 Work in process 19.8 22.7 Raw materials and supplies 161.2 192.3 Inventories, net $ 347.0 $ 372.7

PROPERTY, NET

PROPERTY, NET	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
PROPERTY, NET	Note 9 — PROPERTY, NET Components of Property, net as of December 31, 2023 and 2022 are as follows: (In millions) 2023 2022 Land and land improvements $ 98.5 $ 103.5 Buildings 439.8 432.2 Machinery and equipment 1,381.1 1,325.3 Property, gross 1,919.4 1,861.0 Less accumulated depreciation (890.5) (811.8) Property, net $ 1,028.9 $ 1,049.2

OTHER BALANCE SHEET LIABILITIES

OTHER BALANCE SHEET LIABILITIES	12 Months Ended
	Dec. 31, 2023
Other Liabilities Disclosure [Abstract]
OTHER BALANCE SHEET LIABILITIES	Note 10 — OTHER BALANCE SHEET LIABILITIES Other current and non-current liabilities as of December 31, 2023 and 2022 consist of the following: Accrued expenses and Other non-current liabilities (In millions) 2023 2022 2023 2022 Employment costs $ 119.8 $ 123.4 $ 12.6 $ 8.9 Deferred compensation — — 31.7 25.3 Restructuring costs 35.0 36.7 — — Environmental liabilities 32.1 27.4 125.1 90.9 Accrued taxes 45.5 121.5 — — Accrued interest 33.6 35.5 — — Dividends payable 23.5 22.5 — — Unrecognized tax benefits 3.0 0.6 16.4 26.3 Derivatives — — 199.1 68.6 Accrued capitalized software 10.0 — — — Other 12.7 28.2 9.5 15.5 Total $ 315.2 $ 395.8 $ 394.4 $ 235.5

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
EMPLOYEE BENEFIT PLANS	Note 11 — EMPLOYEE BENEFIT PLANS All U.S. qualified defined benefit pension plans are frozen, no longer accrue benefits and are closed to new participants. We have foreign pension plans that accrue benefits. The plans generally provide benefit payments using a formula that is based upon employee compensation and length of service. The following tables present the change in benefit obligation, change in plan assets and components of funded status for defined benefit pension and post-retirement health care benefit plans. Pension Benefits Health Care Benefits (In millions) 2023 2022 2023 2022 Change in benefit obligation: Projected benefit obligation - beginning of year $ 433.8 $ 549.3 $ 5.9 $ 15.8 Service cost 3.1 4.1 — — Interest cost 19.6 14.1 0.3 0.4 Actuarial loss / (gain) 9.2 (80.8) (1.0) (2.9) Benefits paid (44.8) (47.1) (0.9) (1.0) Other 2.9 (5.8) 0.1 (6.5) Projected benefit obligation - end of year 423.8 433.8 4.4 5.9 Projected salary increases (6.5) (6.3) — — Accumulated benefit obligation $ 417.3 $ 427.5 $ 4.4 $ 5.9 Change in plan assets: Plan assets - beginning of year $ 396.6 $ 529.3 $ — $ — Actual return on plan assets 37.7 (89.9) — — Company contributions 9.1 6.3 0.9 1.0 Benefits paid (44.8) (47.0) (0.9) (1.0) Other 1.9 (2.1) — — Plan assets - end of year $ 400.5 $ 396.6 $ — $ — Unfunded status at end of year $ (23.3) $ (37.2) $ (4.4) $ (5.9) Amounts included in the accompanying Consolidated Balance Sheets as of December 31 are as follows: Pension Benefits Health Care Benefits (In millions) 2023 2022 2023 2022 Non-current assets $ 45.1 $ 31.0 $ — $ — Accrued expenses and other liabilities 5.1 5.7 0.5 1.3 Pension and other post-retirement benefits 63.3 62.5 3.9 4.7 As of December 31, 2023 and 2022, we had plans with total projected and accumulated benefit obligations in excess of the related plan assets as follows: Pension Benefits Health Care Benefits (In millions) 2023 2022 2023 2022 Projected benefit obligation $ 92.9 $ 91.5 $ 4.4 $ 5.9 Fair value of plan assets 24.5 23.3 — — Accumulated benefit obligation 86.6 80.2 4.4 5.9 Fair value of plan assets 23.8 17.7 — — Weighted-average assumptions used to determine benefit obligations at December 31: Pension Benefits Health Care Benefits 2023 2022 2023 2022 Discount rate 4.52 % 4.74 % 4.87 % 5.17 % Assumed health care cost trend rates at December 31: Health care cost trend rate assumed for next year N/A N/A 6.00 % 5.93 % Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) N/A N/A 3.99 % 4.13 % Year that the rate reaches the ultimate trend rate N/A N/A 2059 2054 The following table summarizes the components of net periodic benefit cost or gain that was recognized during each of the years in the three-year period ended December 31, 2023. Pension Benefits Health Care Benefits (In millions) 2023 2022 2021 2023 2022 2021 Components of net periodic benefit cost: Service cost $ 3.1 $ 4.1 $ 4.7 $ — $ — $ 0.1 Interest cost 19.6 14.1 14.2 0.3 0.4 0.5 Expected return on plan assets (25.5) (22.4) (26.9) — — — Amortization of prior service cost (0.1) — — (6.3) — — Mark-to-market actuarial net (gains) losses (2.8) 31.4 11.9 (1.0) (2.9) (1.6) Other — — (0.6) — — (0.3) Net periodic (income) cost $ (5.7) $ 27.2 $ 3.3 $ (7.0) $ (2.4) $ (1.3) In 2023, we recognized a $3.8 million mark-to-market gain that was primarily the result of actual asset returns that were higher than our assumed returns. Partially offsetting the higher asset returns was the decrease in our year end discount rate from 4.74% to 4.52%. In 2022, we recognized a $28.5 million mark-to-market loss that was primarily the result of actual asset returns that were lower than our assumed returns. Partially offsetting the lower asset returns was an increase in our year end discount rate from 2.69% to 4.74%. In 2021, we recognized a $9.4 million mark-to-market and curtailment loss that was primarily the result of actual asset returns that were lower than our assumed returns. Partially offsetting the lower asset returns was an increase in our year end discount rate from 2.47% to 2.69%. Weighted-average assumptions used to determine net periodic benefit cost for the years ended December 31: Pension Benefits Health Care Benefits 2023 2022 2021 2023 2022 2021 Discount rate* 4.74 % 2.69 % 2.47 % 5.17 % 2.85 % 2.66 % Expected long-term return on plan assets* 6.73 % 4.39 % 4.86 % — — — Assumed health care cost trend rates at December 31: Assumed health care cost trend rates at January 1: N/A N/A N/A 5.93 % 6.44 % 6.24 % Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) N/A N/A N/A 4.08 % 4.08 % 4.04 % Year that the rate reaches the ultimate trend rate N/A N/A N/A 2055 2065 2066 *The mark-to-market component of net periodic costs is determined based on discount rates as of year-end and actual asset returns during the year. The expected long-term rate of return on pension assets was determined after considering the forward looking long-term asset returns by asset category and the expected investment portfolio mix. Our pension investment strategy is to diversify the portfolio among asset categories to enhance the portfolio’s risk-adjusted return as well as insulate it from exposure to changes in interest rates. Our asset mix considers the duration of plan liabilities, historical and expected returns of the investments, and the funded status of the plan. The pension asset allocation is reviewed and actively managed based on the funded status of the plan. Based on the current funded status of the plan, our pension asset investment allocation guidelines are weighted heavily to fixed income securities. The plan keeps a minimal amount of cash available to fund benefit payments. See the following table for the plans' asset allocation. The fair values of pension plan assets at December 31, 2023 and 2022, by asset category, are as follows: Fair Value of Plan Assets at December 31, 2023 (In millions) Quoted Significant Significant Total Investments (at Fair Value) Asset category Cash $ 3.9 $ — $ — $ 3.9 Bonds and notes 52.8 — — 52.8 Global equity 8.7 — — 8.7 Other — 3.1 15.3 18.4 Total $ 65.4 $ 3.1 $ 15.3 $ 83.8 Investments measured at NAV: Common collective funds: United States equity 43.8 International equity 44.0 Global equity 21.9 Fixed income 207.0 Total common collective funds $ 316.7 Total investments at fair value $ 400.5 Fair Value of Plan Assets at December 31, 2022 (In millions) Quoted Significant Significant Total Investments (at Fair Value) Asset category Cash $ 3.7 $ — $ — $ 3.7 Bonds and notes 50.0 — — 50.0 Global equity 7.7 — — 7.7 Other — 2.7 14.5 17.2 Total $ 61.4 $ 2.7 $ 14.5 $ 78.6 Investments measured at NAV: Common collective funds: United States equity 42.7 International equity 43.4 Global equity 21.6 Fixed income 210.3 Total common collective funds $ 318.0 Total investments at fair value $ 396.6 Pension Plan Assets Other assets are primarily insurance contracts for international plans. The U.S. equity common collective funds are predominately invested in equity securities actively traded in public markets. The international and global equity common collective funds have broadly diversified investments across economic sectors and focus on low volatility, long-term investments. The fixed income common collective funds consist primarily of publicly traded United States fixed interest obligations (principally investment grade bonds and government securities). Level 1 assets are valued based on quoted market prices. Level 2 investments are valued based on quoted market prices and/or other market data for the same or comparable instruments and transactions of the underlying fixed income investments. The insurance contracts included in the other asset category are valued at the transacted price. Common collective funds are valued at the net asset value of units held by the fund at year-end. The unit value is determined by the total value of fund assets divided by the total number of units of the fund owned. The estimated future benefit payments for our pension and health care plans are as follows: (In millions) Pension Benefits Health Care Benefits 2024 $ 40.2 $ 0.5 2025 39.0 0.5 2026 37.8 0.4 2027 36.7 0.4 2028 36.4 0.3 2029 through 2033 163.3 1.3 We currently estimate that employer contributions will be $7.6 million to all qualified and non-qualified pension plans and $0.5 million to all healthcare benefit plans in 2024. The Company sponsors various voluntary retirement savings plans (RSP). Under the provisions of the plans, eligible employees receive defined Company contributions and are eligible for Company matching contributions based on their eligible earnings contributed to the plan. In addition, we may make discretionary contributions to the plans for eligible employees based on a specific percentage of each employee’s compensation. Following are our contributions to the RSP: (In millions) 2023 2022 2021 Retirement savings match $ 11.9 $ 12.7 $ 10.7

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	Note 12 — COMMITMENTS AND CONTINGENCIES We have been notified by federal and state environmental agencies and by private parties that we may be a potentially responsible party (PRP) in connection with the environmental investigation and remediation of certain sites. While government agencies frequently assert that PRPs are jointly and severally liable at these sites, in our experience, the interim and final allocations of liability costs are generally made based on the relative contribution of waste. We may also initiate corrective and preventive environmental projects of our own to support safe and lawful activities at our operations. We believe that compliance with current governmental regulations at all levels will not have a material adverse effect on our financial position, results of operations or cash flows. In September 2007, the United States District Court for the Western District of Kentucky (Court) in the case of Westlake Vinyls, Inc. v. Goodrich Corporation, et al. , held that Avient must pay the remediation costs at the former Goodrich Corporation Calvert City facility (now largely owned and operated by Westlake Vinyls, Inc. (Westlake Vinyls)), together with certain defense costs of Goodrich Corporation. The rulings also provided that Avient can seek indemnification for contamination attributable to Westlake Vinyls. Following the rulings, the parties to the litigation agreed to settle all claims regarding past environmental costs incurred at the site. The settlement agreement provides a mechanism to pursue allocation of future remediation costs at the Calvert City site to Westlake Vinyls. We continue to pursue available insurance coverage related to this matter and are in current litigation to recover previously incurred costs. It is reasonably possible that insurance recoveries could result in a material benefit to our Consolidated Statements of Income in a future period, though the amounts, if any, nor the timing are currently known. The environmental obligation at the site arose as a result of an agreement between The B.F. Goodrich Company (n/k/a Goodrich Corporation) and our predecessor, The Geon Company, at the time of the initial public offering in 1993. Under the agreement, The Geon Company agreed to indemnify Goodrich Corporation for certain environmental costs at the site. Neither Avient nor The Geon Company ever operated the facility. Since 2009, Avient, along with respondents Westlake Vinyls and Goodrich Corporation, has worked with the United States Environmental Protection Agency (USEPA) to address the remedial activities at the site. The USEPA issued its Record of Decision (ROD) in September 2018. In April 2019, the respondents signed an Administrative Settlement Agreement and Order on Consent with the USEPA to conduct the remedial actions at the site. In February 2020, three companies signed the agreed Consent Decree and remedial action Work Plan, which received Federal Court approval in January 2021. In August 2023, the Company received construction bids for components of the remedial action and we updated our accruals to align to the selected bid costs. We are currently in the process of remedial action for a portion of the site, while continuing to progress through remedial design for other portions of the site. As we have progressed through remedial design and action, additional charges have been recognized to reflect the actual costs of completion. As of December 31, 2023, we had accrued $148.9 million for this matter. Total environmental accruals of $157.2 million and $118.3 million are reflected within Accrued expenses and other current liabilities and Other non-current liabilities in our Consolidated Balance Sheets as of December 31, 2023 and December 31, 2022, respectively. These undiscounted accruals represent our best estimate of probable future costs that we can reasonably estimate, based upon currently available information and technology and how the remedy will be implemented. It is reasonably possible that we could incur additional costs in excess of the amount accrued, which could be material to our Consolidated Statements of Income . However, such additional costs cannot currently be estimated as they are dependent upon the results of future testing and findings during the execution of remedial design and remedial action, the ultimate remedial action undertaken, changes in regulations, technology development, new information, newly discovered conditions and other factors that are not currently known. The following table details the changes in the environmental accrued liabilities: (In millions) 2023 2022 2021 Balance at beginning of the year $ 118.3 $ 124.5 $ 119.7 Environmental expenses 69.6 24.1 23.0 Net cash payments (30.7) (30.2) (18.2) Currency translation and other — (0.1) — Balance at the end of year $ 157.2 $ 118.3 $ 124.5 The environmental expenses noted in the table above, primarily related to the ongoing remedial action at Calvert City, are included in Cost of sales as are insurance recoveries received for previously incurred environmental costs. We received insurance recoveries of $1.7 million, $8.3 million, and $4.5 million in 2023, 2022 and 2021, respectively. Such insurance recoveries are recognized as income when realization of the proceeds is deemed as probable. Avient is subject to a broad range of claims, administrative and legal proceedings such as lawsuits that relate to contractual allegations, tax audits, product claims, personal injuries, and employment related matters. Although it is not possible to predict with certainty the outcome or cost of these matters, the Company believes our current reserves are appropriate and these matters will not have a material adverse effect on the consolidated financial statements.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	Note 13 — INCOME TAXES The Company is subject to taxation in the U.S. and numerous international jurisdictions. In determining the effective income tax rate, the Company analyzes various factors, including annual earnings, the laws of taxing jurisdictions in which the earnings were generated, the impact of state and local income taxes, the ability to use tax credits, net operating loss carryforwards, and available planning alternatives. Discrete items, including the effect of changes in tax laws, statutory tax rates, and valuation allowances or other non-recurring tax adjustments are reflected in the period in which they occur as an addition to or reduction from, the tax provision. We recognize tax on global intangible low-taxed income (GILTI) and the deduction of foreign-derived intangible income (FDII) as a period expense in the period in which the tax is incurred. In January 2019, the Organization for Economic Co-operation and Development (OECD) announced further work in continuation of its Base Erosion and Profit Shifting project, focusing on two "pillars." Pillar One provides a framework for the reallocation of certain residual profits of multinational enterprises to market jurisdictions where goods or services are used or consumed. Pillar Two consists of two interrelated rules referred to as Global Anti-Base Erosion ("GloBe") Rules, which operate to impose a minimum tax rate of 15% calculated on a jurisdictional basis for companies with revenue above €750 million. Certain European jurisdictions are in the process of enacting legislation to adopt GloBE rules with effective dates beginning in 2024. As a result of the transition rules, Avient does not currently expect there to be a material impact to its financial statements. The Company will continue to monitor legislative and regulatory developments in this area. Income from continuing operations, before income taxes is summarized below based on the geographic location of the operation to which such earnings are attributable. Income (loss) from continuing operations, before income taxes consists of the following: (In millions) 2023 2022 2021 Domestic $ (2.7) $ (82.4) $ (22.1) International 90.0 146.2 225.6 Income from continuing operations, before income taxes $ 87.3 $ 63.8 $ 203.5 A summary of income tax expense (benefit) from continuing operations is as follows: (In millions) 2023 2022 2021 Current income tax expense (benefit): Domestic $ 18.5 $ (76.2) $ 23.4 International 53.8 56.4 50.8 Total current income tax expense (benefit) $ 72.3 $ (19.8) $ 74.2 Deferred income tax expense (benefit): Domestic $ (35.8) $ 2.6 $ (26.8) International (25.5) (2.1) 4.5 Total deferred income tax (benefit) expense $ (61.3) $ 0.5 $ (22.3) Total income tax expense (benefit) $ 11.0 $ (19.3) $ 51.9 A reconciliation of the applicable U.S. federal statutory tax rate to the consolidated effective income tax rate from continuing operations along with a description of significant reconciling items is included below for the years ended December 31, 2023, 2022 and 2021. 2023 2022 2021 U.S. federal income tax rate 21.0 % 21.0 % 21.0 % International tax rate differential: Asia 0.9 1.1 0.4 Europe (5.2) (12.4) (1.8) North and South America 4.5 5.9 1.1 Total international tax rate differential 0.2 (5.5) (0.3) Net tax on GILTI and FDII 1.9 2.8 (1.0) International tax on certain current and prior year earnings 3.9 0.2 2.0 Non-deductible acquisition related costs — 0.9 0.1 Non-deductible interest 5.3 2.9 — Research and development credit (3.7) (5.0) (1.1) Capital losses (5.4) (88.1) (0.6) State and local tax, net (2.3) (4.0) 0.2 International permanent items (7.5) 12.1 0.2 Net impact of uncertain tax positions (5.3) 12.9 1.0 Changes in valuation allowances 3.6 15.4 2.6 Other 0.9 4.2 1.4 Effective income tax rate 12.6 % (30.2) % 25.5 % The effective tax rates for all periods differed from the applicable U.S. federal income tax rate as a result of permanent items, state and local income taxes, differences in international tax rates and certain other items. Permanent items primarily consist of income or expense not taxable or deductible. Significant or other items impacting the effective income tax rate are described below. 2023 Significant items The consolidated effective income tax rate from continuing operations was 12.6%, which was lower than the U.S. federal rate of 21%. This lower rate was primarily driven by the recognition of tax benefits of 7.5% associated with tax impairments of investments in affiliates, driven in part from European restructuring actions. Further, we recognized a 5.4% tax benefit from federal and state capital losses associated with an international affiliate's tax status change in 2022. Finally, we recognized tax benefits from the reduction of uncertain tax positions as well as the U.S. R&D tax credit, which reduced the tax rate, 5.3% and 3.7%, respectively. Partially offsetting these benefits were non-deductible foreign interest, 5.3%, tax associated with foreign income repatriation, 3.9%, and an increase of our valuation allowance which impacted the rate 3.6%. 2022 Significant items We recognized a net tax benefit of 88.1% in 2022 from federal and state capital loss deductions associated with an international affiliate's tax status change. We also recognized a tax benefit of 5.5% associated with earnings in foreign jurisdictions with statutory rates below the U.S. federal income tax rate. Further, the state and local tax benefit was 4.0%, driven by a U.S. tax loss. Offsetting these benefits in 2022 were the tax impact of international permanent items of 12.1%, which primarily included an unfavorable tax effect of withholding taxes. We also increased our valuation allowance, which impacted the rate 15.4%, for deferred tax assets that are unlikely to create income tax benefits before their expiration. Further, uncertain tax positions increased, which impacted the rate 12.9%, primarily associated with European restructuring charges which are not expected to realize and a tax effect of non-deductible foreign interest of 2.9%. 2021 Significant items For 2021, changes in valuation allowances, which impacted the rate 2.6%, related to losses in jurisdictions for which we do not expect to be able to realize the associated tax benefit. We also recognized uncertain tax positions, which impacted the rate 1.0%, primarily associated with European restructuring actions taken in 2021. Components of our deferred tax assets (liabilities) as of December 31, 2023 and 2022 were as follows: (In millions) 2023 2022 Deferred tax assets: Employment costs 21.4 21.0 Environmental accruals 38.5 29.2 Net operating loss carryforwards 66.0 54.3 Operating leases 7.8 11.8 Research and development 45.8 39.2 Capitalized and carryforward interest 48.7 18.2 Financial Derivatives 48.3 16.7 Other, net 52.2 54.4 Gross deferred tax assets $ 328.7 $ 244.8 Valuation allowances (39.6) (35.3) Total deferred tax assets, net of valuation allowances $ 289.1 $ 209.5 Deferred tax liabilities: Property, plant and equipment $ (101.3) $ (117.4) Goodwill and intangibles (351.2) (337.3) Operating leases (7.6) (12.0) Other, net (18.3) (11.7) Total deferred tax liabilities $ (478.4) $ (478.4) Net deferred tax (liabilities) assets $ (189.3) $ (268.9) Consolidated Balance Sheets: Non-current deferred income tax assets $ 92.3 $ 73.6 Non-current deferred income tax liabilities $ (281.6) $ (342.5) As of December 31, 2023, no tax provision has been made on approximately $89.8 million of undistributed earnings of certain non-U.S. subsidiaries as these amounts continue to be indefinitely reinvested consistent with our policy. Additionally, no deferred income taxes were recorded on taxable outside basis differences as it was not practicable to determine the tax provision impact. Tax on certain foreign earnings as of December 31, 2023 and 2022 is included in the Other, net deferred tax liabilities line in the table above are $9.2 million and $7.4 million, respectively. We made worldwide income tax payments of $156.4 million, $109.7 million and $102.1 million in 2023, 2022, and 2021, respectively. We received refunds of $5.2 million, $29.4 million and $12.6 million in 2023, 2022, and 2021, respectively. The Company records tax provisions for uncertain tax positions in accordance with FASB ASC Topic 740, Income Taxes . A reconciliation of unrecognized tax benefits is as follows: Unrecognized Tax Benefits (In millions) 2023 2022 2021 Balance as of January 1, $ 25.4 $ 19.8 $ 9.5 Increases as a result of positions taken during current year 1.9 10.6 5.9 Increases as a result of positions taken for prior years 0.4 0.4 0.2 Balance related to acquired businesses — — 5.4 Reductions for tax positions of prior years (10.7) (4.3) — Decreases as a result of lapse of statute of limitations (0.6) (0.6) (1.5) Other, net 0.5 (0.5) 0.3 Balance as of December 31, $ 16.9 $ 25.4 $ 19.8 We recognize interest and penalties related to uncertain tax positions in the tax provision. As of December 31, 2023 and 2022, we had $2.5 million and $1.5 million accrued for interest and penalties, respectively. Expected tax settlements during the next twelve months are expected to be immaterial to our unrecognized tax benefit accruals. If all unrecognized tax benefits were recognized, the net impact on the tax provision would be a benefit of $16.3 million. The Company is currently being audited by U.S. federal, state and international taxing jurisdictions. With limited exceptions, we are no longer subject to U.S. federal, state and international tax examinations for periods preceding 2017.

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION	Note 14 — SHARE-BASED COMPENSATION Share-based compensation cost recognized in the accompanying Consolidated Statements of Income includes compensation cost for share-based payment awards based on the grant date fair value estimated in accordance with the provision of FASB ASC Topic 718, Compensation — Stock Compensation . Share-based compensation expense is based on awards expected to vest and therefore has been reduced for estimated forfeitures. Equity and Performance Incentive Plans In May 2020, our shareholders approved the Avient Corporation 2020 Equity and Incentive Compensation Plan (2020 Plan). This plan reserved 2.5 million common shares for the award of a variety of share-based compensation alternatives, including non-qualified stock options, incentive stock options, restricted stock, restricted stock units (RSUs), performance shares, performance units and stock appreciation rights (SARs). It is anticipated that all share-based grants and awards that are earned and exercised will be issued from Avient common shares that are held in treasury. In May 2023, our shareholders voted to approve an amendment and restatement of the 2020 Plan (Amended 2020 Plan). The Amended 2020 Plan increases the number of common shares available for awards under the 2020 plan by 2.5 million common shares. Share-based compensation is included in Selling and administrative expense . A summary of compensation expense by type of award follows: (In millions) 2023 2022 2021 Stock appreciation rights $ 6.1 $ 5.9 $ 5.2 Performance shares 0.2 0.2 0.2 Restricted stock units 6.9 7.1 5.8 Total share-based compensation $ 13.2 $ 13.2 $ 11.2 Stock Appreciation Rights During the years ended December 31, 2023, 2022 and 2021, the total number of SARs granted was 0.5 million, 0.4 million and 0.5 million, respectively. Awards vest in one-third increments upon the later of the attainment of time-based vesting over a three-year service period and stock price targets. Awards granted in 2023, 2022 and 2021 are subject to an appreciation cap of 200% of the base price. SARs have contractual terms of ten years from the date of the grant. The SARs were valued using a Monte Carlo simulation method as the vesting is dependent on the achievement of certain stock price targets. The SARs have time and market-based vesting conditions but vest no earlier than their three year graded vesting schedule. The expected term is an output from the Monte Carlo model and is derived from employee exercise assumptions that are based on Avient historical exercise experience. The expected volatility was determined based on the average weekly volatility for our common shares for the contractual life of the awards. The expected dividend assumption was determined based upon Avient's dividend yield at the time of grant. The risk-free rate of return was based on available yields on U.S. Treasury bills of the same duration as the contractual life of the awards. Forfeitures were estimated at 3% per year based on our historical experience. The following is a summary of the weighted average assumptions related to the grants issued during 2023, 2022 and 2021: 2023 2022 2021 Expected volatility 35.0% 33.0% 34.0% Expected dividends 2.30% 1.80% 2.01% Expected term (in years) 6.4 6.9 6.9 Risk-free rate 3.82% 1.98% 1.19% Value of SARs granted $13.28 $14.91 $11.72 A summary of SAR activity for 2023 is presented below: (In millions, except per share data) Shares Weighted-Average Exercise Price per Share Weighted-Average Remaining Contractual Term Aggregate Intrinsic value Outstanding as of January 1, 2023 2.2 $ 39.08 6.8 $ 2.6 Granted 0.5 42.93 Exercised (0.1) 28.35 Forfeited or expired (0.1) 36.88 Outstanding as of December 31, 2023 2.5 $ 40.18 6.6 $ 9.2 Vested and exercisable as of December 31, 2023 1.5 $ 35.71 5.2 $ 9.2 The total intrinsic value of SARs exercised during 2023, 2022 and 2021 was $0.7 million, $2.4 million and $22.9 million, respectively. As of December 31, 2023, there was $3.7 million of total unrecognized compensation cost related to SARs, which is expected to be recognized over the weighted average remaining vesting period of 23 months. Restricted Stock Units RSUs represent contingent rights to receive one common share at a future date provided certain vesting criteria are met. During 2023, 2022 and 2021, the total number of RSUs granted were 0.3 million, 0.2 million and 0.2 million, respectively. In 2023, 0.3 million RSUs vested. These RSUs, which generally vest on the third anniversary of the grant date, were granted to executives and other key employees. Compensation expense is measured on the grant date using the quoted market price of our common shares and is recognized on a straight-line basis over the requisite service period. As of December 31, 2023, 0.6 million RSUs remain unvested with a weighted-average grant date fair value of $42.92. Unrecognized compensation cost for RSUs at December 31, 2023 was $12.1 million, which is expected to be recognized over the weighted average remaining vesting period of 27 months.

SEGMENT INFORMATION

SEGMENT INFORMATION	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
SEGMENT INFORMATION	Note 15 — SEGMENT INFORMATION 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 year; 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 . Segment assets are primarily customer receivables, inventories, net property, plant and equipment, intangible assets and goodwill. Corporate assets and liabilities primarily include cash, debt, pension and other employee benefits, environmental liabilities, assets held for sale, and other unallocated corporate assets and liabilities. The accounting policies of each segment are consistent with those described in Note 1, Description of Business and Summary of Significant Accounting Policies . Avient has two reportable segments: (1) Color, Additives and Inks and (2) Specialty Engineered Materials. The following is a description of each reportable segment. Color, Additives and Inks Color, Additives and Inks is a leading formulator of specialized custom color and additive concentrates in solid and liquid form for thermoplastics, dispersions for thermosets, as well as specialty inks. Color and additive solutions include an innovative array of colors, special effects and performance-enhancing and sustainable solutions. When combined with polymer resins, our solutions help customers achieve differentiated specialized colors and effects targeted at the demands of today’s highly design-oriented consumer and industrial end markets. Our additive concentrates encompass a wide variety of performance and process enhancing characteristics and are commonly categorized by the function that they perform, including UV light stabilization and blocking, antimicrobial, anti-static, blowing or foaming, antioxidant, lubricant, oxygen and visible light blocking and productivity enhancement. Of growing importance is our portfolio of additives that enable our customers to achieve their sustainability goals, regarding improved recyclability, reduced energy use, light weighting, and renewable energy applications. Our colorant and additives concentrates are used in a broad range of polymers, including those used in medical and pharmaceutical devices, food packaging, personal care and cosmetics, transportation, building products, wire and cable markets. We also provide custom-formulated liquid systems that meet a variety of customer needs and chemistries, including polyester, vinyl, natural rubber and latex, polyurethane and silicone. Our offerings also include proprietary inks and latexes for diversified markets such as recreational and athletic apparel, construction and filtration, outdoor furniture and healthcare. Our liquid polymer coatings and additives are largely based on vinyl and are used in a variety of markets, including consumer, packaging, healthcare, industrial, transportation, building and construction, wire and cable, textiles and appliances. Color, Additives and Inks has manufacturing, sales and service facilities located throughout North America, South America, Asia, Europe, Middle East, and Africa. Specialty Engineered Materials Specialty Engineered Materials is a leading formulator of specialty and sustainable polymer formulations, services and solutions for designers, assemblers and processors of thermoplastic materials across a wide variety of markets and end-use applications. Our product portfolio, which we believe to be one of the most diverse in our industry, includes specialty formulated high-performance polymer materials that are manufactured using thermoplastic resins and elastomers, which are then combined with advanced polymer additives, reinforcement, filler, colorant and/or biomaterial technologies. We also have what we believe is the broadest composite platform of solutions, which include a full range of thermoset and thermoplastic composites, reinforced with glass, carbon, aramid, and ultrahigh molecular weight polyethylene fibers. These solutions meet a wide variety of unique customer requirements for sustainability, in particular light weighting. Our technical and market expertise enables us to expand the performance range and structural properties of traditional engineering-grade thermoplastic resins to meet evolving customer needs. Specialty Engineered Materials has manufacturing, sales and service facilities located throughout North America, Europe, and Asia. Our product development and application reach is further enhanced by the capabilities of our Innovation Centers in the United States, Germany, The Netherlands and China, which produce and evaluate prototype and sample parts to help assess end-use performance and guide product development. Our manufacturing capabilities are targeted at meeting our customers’ demand for speed, flexibility and critical quality. On September 1, 2022, the Company completed the acquisition of APM, including the Dyneema® brand, the World's Strongest Fiber™. The ultra-light specialty fiber is used in demanding applications such as ballistic personal protection, marine and sustainable infrastructure, renewable energy, industrial protection and outdoor sports. The APM Acquisition enhances Avient's materials offerings of composites and engineered fibers, and results are recognized within the Specialty Engineered Materials segment. Financial information by reportable segment is as follows: (In millions) Year Ended December 31, 2023 Total Sales Operating Income Depreciation and Amortization Capital Expenditures Color, Additives and Inks $ 2,007.4 $ 259.9 $ 98.3 $ 21.4 Specialty Engineered Materials 1,138.2 142.5 81.5 50.1 Corporate (2.8) (205.6) 9.0 47.9 Total from continuing operations $ 3,142.8 $ 196.8 $ 188.8 $ 119.4 Year Ended December 31, 2022 Total Sales Operating Income Depreciation and Amortization Capital Expenditures Color, Additives and Inks $ 2,355.0 $ 301.0 $ 101.3 $ 41.3 Specialty Engineered Materials 1,044.4 140.1 48.7 37.4 Corporate (2.5) (197.8) 12.5 26.4 Total from continuing operations $ 3,396.9 $ 243.3 $ 162.5 $ 105.1 Year Ended December 31, 2021 Total Sales Operating Income Depreciation and Amortization Capital Expenditures Color, Additives and Inks $ 2,401.6 $ 303.1 $ 105.7 $ 40.5 Specialty Engineered Materials 911.6 125.5 31.7 26.4 Corporate 2.3 (148.9) 7.7 32.9 Total from continuing operations $ 3,315.5 $ 279.7 $ 145.1 $ 99.8 Our sales are primarily to customers in the United States, Canada, Mexico, Europe, South America and Asia, and the majority of our assets are located in these same geographic areas. The following is a summary of sales and long-lived assets based on the geographic areas where the sales originated and where the assets are located: (In millions) 2023 2022 2021 Sales: United States and Canada $ 1,271.2 $ 1,372.9 $ 1,262.3 Latin America 167.5 180.1 158.5 Europe 1,151.9 1,213.1 1,195.7 Asia 552.2 630.8 699.0 Total Sales $ 3,142.8 $ 3,396.9 $ 3,315.5 2023 2022 Assets: Color, Additives and Inks $ 2,657.2 $ 2,703.1 Specialty Engineered Materials 2,532.6 2,526.5 Corporate 778.7 855.4 Total Assets $ 5,968.5 $ 6,085.0 2023 2022 Property, net: United States and Canada $ 506.4 $ 513.4 Latin America 29.4 26.5 Europe 284.2 272.2 Asia 208.9 237.1 Total Long-lived Assets $ 1,028.9 $ 1,049.2

DERIVATIVES AND HEDGING

DERIVATIVES AND HEDGING	12 Months Ended
	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES AND HEDGING	Note 16 — DERIVATIVES AND HEDGING We are exposed to market risks, such as changes in foreign currency exchange rates and interest rates. To manage the volatility related to these exposures we may enter into various derivative transactions. We formally assess, designate and document, as a hedge of an underlying exposure, the qualifying derivative instrument that will be accounted for as an accounting hedge at inception. Additionally, we assess both at inception and at least quarterly thereafter, whether the financial instruments used in the hedging transaction are effective at offsetting changes in either the fair values or cash flows of the underlying exposures. In accordance with ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities (ASU 2017-12), that ongoing assessment will be done qualitatively for highly effective relationships. Net Investment Hedge As a means of mitigating the impact of currency fluctuations on our euro investments in foreign entities, we have executed cross currency swaps, in which we pay fixed-rate interest in euros and receive fixed-rate interest in U.S. dollars related to our future obligations to exchange euros for U.S. dollars. We currently hold cross currency swaps with a combined notional amount of €1,467.2 million, maturing in May 2025 and €900.0 million maturing in August 2027. These cross currency swaps effectively convert a portion of our U.S. dollar denominated fixed-rate debt to euro denominated fixed-rate debt. Included in Interest expense, net within the Consolidated Statements of Income are benefits of $38.8 million and $30.3 million for the years ended December 31, 2023 and 2022, respectively, related to net interest payments received from counterparties. We received cash proceeds of $132.1 million related to the settlement of prior cross-currency swap positions during the year ended December 31, 2022. 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 A ccumulated Other Comprehensive Income (Loss) (AOCI) to offset the changes in the values of the net investment being hedged. For the years ended December 31, 2023 and 2022, a loss of $96.1 million and a gain of $21.6 million, respectively, were recognized within translation adjustments in AOCI, net of tax. Derivatives Not Initially Designated for Hedge Accounting On April 20, 2022, we executed forward starting cross currency swaps, pursuant to which we will pay fixed-rate interest in euros and receive fixed-rate interest in U.S. dollars with a combined notional amount of €900.0 million, as a means of mitigating the impact of currency fluctuations on our future euro investments in foreign entities related to the APM Acquisition. Additionally, we entered into foreign currency forward contracts with an aggregate notional amount of €350 million, to mitigate the impact of currency fluctuations on the euro-denominated purchase price for the APM Acquisition. In conjunction with the closing of the APM Acquisition, we completed the initial exchange of U.S. dollars for euros as part of the cross-currency swaps and designated these instruments as a net investment hedge against the acquired euro net assets of APM. Changes in the fair value of the cross-currency swaps prior to designation as a net investment hedge and foreign exchange forward contracts were recorded in earnings directly. Beginning September 1, 2022, changes in the fair value of these instruments are recognized in AOCI and offset the changes in our euro net assets. The amount of expense recognized within Other income, net in our Consolidated Statements of Income was $37.3 million for the year ended December 31, 2022, which resulted in a $38.8 million cash payment during 2022. All of our derivative assets and liabilities measured at fair value are classified as Level 2 within the fair value hierarchy. We determine the fair value of our derivatives based on valuation methods, which project future cash flows and discount the future amounts present value using market based observable inputs, including interest rate curves and foreign currency rates. The fair value of derivative financial instruments recognized in the Consolidated Balance Sheets as of December 31, 2023 and 2022 is as follows: (In millions) Balance Sheet Location 2023 2022 Cross Currency Swaps (Net Investment Hedge) Other non-current liabilities $ 199.1 $ 68.6

DESCRIPTION Of BUSINESS AND S_2

DESCRIPTION Of BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidation and Basis Of Presentation	Consolidation and Basis of Presentation The consolidated financial statements include the accounts of Avient and its subsidiaries. All majority-owned affiliates over which we have control are consolidated. Transactions with related parties, including joint ventures, are in the ordinary course of business.
Use of Estimates	Use of Estimates Preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions in certain circumstances that affect amounts reported in the accompanying consolidated financial statements and notes. Actual results could differ from these estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents We consider all highly liquid investments purchased with a maturity of less than three months to be cash equivalents. Cash equivalents are stated at cost, which approximates fair value.
Allowance for Doubtful Accounts	Allowance for Doubtful Accounts
Inventories	Inventories
Long-lived Assets	Long-lived Assets Property, plant and equipment is carried at cost, net of depreciation and amortization that is computed using the straight-line method over the estimated useful lives of the assets, which generally ranges from three We retain fully depreciated assets in property and accumulated depreciation accounts until we remove them from service. In the case of sale, retirement or disposal, the asset cost and related accumulated depreciation balance is removed from the respective account, and the resulting net amount, less any proceeds, is included as a component of income from continuing operations in the accompanying Consolidated Statements of Income .
Leases	We account for operating and finance leases under the provisions of Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 842.
Finite-lived Intangible Assets	Finite-lived intangible assets, which consist primarily of customer relationships, patents and technology are amortized over their estimated useful lives. The useful lives range up to 25 years.
Impairment or Disposal of Long-Lived Assets	We assess the recoverability of long-lived assets when events or changes in circumstances indicate that we may not be able to recover the assets’ carrying amount. We measure the recoverability of assets to be held and used by a comparison of the carrying amount of the asset to the expected future undiscounted cash flows associated with the asset. We measure the amount of impairment of long-lived assets as the amount by which the carrying value of the asset exceeds the fair value of the asset, which is generally determined based on projected discounted future cash flows or appraised values.
Goodwill and Indefinite Lived Intangible Assets	Goodwill and Indefinite Lived Intangible Assets In accordance with the provisions of FASB ASC Topic 350, Intangibles — Goodwill and Other , we assess the fair value of goodwill on an annual basis or at an interim date if potential impairment indicators are present. Goodwill is the excess of the purchase price paid over the fair value of the net assets of the acquired business. Goodwill is tested for impairment, quantitatively or qualitatively, at the reporting unit level. The Company's reporting units are at a level below the Company's reportable operating segments. Goodwill is allocated to the reporting units based on the estimated fair value at the date of acquisition. Our annual measurement date for testing impairment of goodwill and indefinite-lived intangible assets is October 1. We test our goodwill either quantitatively or qualitatively for impairment. For our quantitative approach, we use an income approach to estimate the fair value of our reporting units. The income approach uses a reporting unit’s projection of estimated operating results and cash flows that is discounted using a weighted-average cost of capital that is determined based on current market conditions. The projection uses management’s best estimates of economic and market conditions over the projected period including growth rates in sales, costs, and estimates of future expected changes in operating margins and cash expenditures. Other significant estimates and assumptions include terminal value growth rates, terminal value margin rates, future capital expenditures and changes in future working capital requirements. We validate our estimates of fair value under the income approach by considering the implied control premium and conclude whether the implied control premium is reasonable based on other recent market transactions. Indefinite-lived intangible assets primarily consist of the Dyneema, GLS, ColorMatrix, Gordon Composites, and Fiber-Line trade names. Indefinite-lived intangible assets are tested, quantitatively or qualitatively, for impairment annually at the same time we test goodwill for impairment. For our quantitative approach, the implied fair value of indefinite-lived intangible assets is determined based on significant unobservable inputs, as summarized below. The fair value of the trade names is calculated using a “relief from royalty” methodology. This approach involves two steps: (1) estimating reasonable royalty rates for the trade name and (2) applying this royalty rate to a net sales stream and discounting the resulting cash flows to determine fair value using a weighted-average cost of capital that is determined based on current market conditions. This fair value is then compared with the carrying value of the trade name. A qualitative approach for both goodwill and indefinite-lived intangible assets can be performed if the last quantitative test exceeded certain thresholds. During our qualitative approach, we assess whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If, after assessing the totality of events and circumstances, we determine it is more likely than not that the fair value is less than carrying value, a quantitative impairment test is performed for each asset, as described above.
Litigation Reserves	Litigation Reserves FASB ASC Topic 450, Contingencies,
Derivative Financial Instruments	Derivative Financial Instruments FASB ASC Topic 815, Derivative and Hedging , requires that all derivative financial instruments, such as foreign exchange contracts, be recognized in the financial statements and measured at fair value, regardless of the purpose or intent in holding them. We are exposed to foreign currency changes and to changes in cash flows due to changes in our contractually specified interest rates (e.g., SOFR) in the normal course of business. We have established policies and procedures that manage this exposure through the use of financial instruments. By policy, we do not enter into these instruments for trading purposes or speculation. 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, in accordance with ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities , we assess at inception whether the financial instruments used in the hedging transaction are highly effective at offsetting changes in either the fair values or cash flows of the underlying exposures. If highly effective, any subsequent test may be done qualitatively. The net interest payments accrued each month for effective instruments designated as a hedge 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 Accumulated Other Comprehensive Income (Loss) (AOCI) . Instruments not designated as hedges are adjusted to fair value at each period end, with the resulting gains and losses recognized in the accompanying Consolidated Statements of Income
Pension and Other Post-Retirement Plans	Pension and Other Post-retirement Plans We account for our pensions and other post-retirement benefits in accordance with FASB ASC Topic 715, Compensation — Retirement Benefits
Fair Value of Financial Instruments	FASB ASC Topic 820, Fair Value Measurements and Disclosures,
Foreign Currency Translation	Foreign Currency Translation Revenues and expenses are translated at average currency exchange rates during the related period. Assets and liabilities of foreign subsidiaries are translated using the exchange rate at the end of the period. The resulting translation adjustments are recorded as accumulated other comprehensive income or loss. Gains and losses resulting from foreign currency transactions, including intercompany transactions that are not considered long-term investments, are included in Other income (expense), net.
Revenue Recognition	Revenue Recognition
Shipping and Handling Costs	Shipping and Handling Costs Shipping and handling costs are included in Cost of sales .
Research and Development Expense	Research and Development Expense Research and development costs of $90.3 million in 2023, $84.9 million in 2022 and $83.2 million in 2021 are charged to expense as incurred.
Environmental Costs	Environmental Costs We expense costs that are associated with managing hazardous substances and pollution in ongoing operations on a current basis. Costs associated with environmental contamination are accrued when it becomes probable that a liability has been incurred and our proportionate share of the cost can be reasonably estimated. Any such provision is recognized using the Company's best estimate of the amount of loss incurred, or at the lower end of an estimated range, when a single best estimate is not determinable. In some cases, the Company recovers a portion of the costs relating to these obligations from insurers or other third parties, and the recovery is recognized when realization of the proceeds is deemed as probable.
Share-Based Compensation	Share-Based Compensation We account for share-based compensation under the provisions of FASB ASC Topic 718, Compensation - Stock Compensation , which requires us to estimate the fair value of share-based awards on the date of grant. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service periods in the accompanying Consolidated Statements of Income
Income Taxes	Income Taxes Deferred income tax liabilities and assets are determined based upon the differences between the financial reporting and tax basis of assets and liabilities and are measured using the tax rate and laws currently in effect. In accordance with FASB ASC Topic 740, Income Taxes

DESCRIPTION Of BUSINESS AND S_3

DESCRIPTION Of BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule Of Accumulated Other Comprehensive Income (Loss)	Changes in accumulated other comprehensive income (loss) in 2023, 2022 and 2021 were as follows: (In millions) Cumulative Translation Adjustment and Related Hedging Instruments Pension and other post-retirement benefits Cash Flow Hedges Total Balance at January 1, 2021 $ 26.6 $ 5.2 $ (5.4) $ 26.4 Translation Adjustments (127.7) — — (127.7) Unrealized gains on derivatives 52.5 — 3.2 55.7 Balance at December 31, 2021 (48.6) 5.2 (2.2) (45.6) Translation Adjustments (60.3) — — (60.3) Unrealized gains on derivatives 21.6 — 2.3 23.9 Prior service credit — 6.2 — 6.2 Balance at December 31, 2022 (87.3) 11.4 0.1 (75.8) Translation Adjustments 90.9 — — 90.9 Unrealized losses on derivatives (96.1) — — (96.1) Amortization of prior service credit — (6.4) — (6.4) Balance at December 31, 2023 $ (92.5) $ 5.0 $ 0.1 $ (87.4)

BUSINESS COMBINATIONS (Tables)

BUSINESS COMBINATIONS (Tables)	12 Months Ended
	Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of Purchase Price Allocation	(In millions) Preliminary Allocation as of 9/1/2022 Measurement Period Adjustments Final Allocation Cash and cash equivalents $ 50.7 — $ 50.7 Accounts receivable 52.2 1.8 54.0 Inventories 136.2 (8.1) 128.1 Other current assets 2.0 1.7 3.7 Property 361.9 (15.5) 346.4 Intangible assets: Indefinite-lived trade names 254.9 — 254.9 Customer relationships 198.7 20.0 218.7 Patents, technology, and other 275.1 — 275.1 Goodwill 277.1 129.7 406.8 Other non-current assets 12.3 (0.1) 12.2 Accounts payable 32.2 — 32.2 Accrued expenses and other current liabilities 12.9 0.3 13.2 Deferred tax liabilities 86.1 129.9 216.0 Noncontrolling interests — 2.3 2.3 Other non-current liabilities 13.1 (3.0) 10.1 Total purchase price consideration $ 1,476.8 $ — $ 1,476.8
Schedule of Pro Forma Information Sales and Income from Continuing Operations	Had the APM Acquisition occurred on January 1, 2021, sales and income from continuing operations before income taxes on a pro forma basis would have been as follows: Year Ended December 31, 2022 2021 Sales $ 3,653.0 $ 3,712.0 Income from continuing operations before income taxes 162.0 133.5

DISCONTINUED OPERATIONS (Tables

DISCONTINUED OPERATIONS (Tables)	12 Months Ended
	Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Discontinued Operations	The following table summarizes the major line items constituting pretax income of discontinued operations associated with the Distribution business segment for the years ended December 31, 2023, 2022 and 2021. (In millions) 2023 2022 2021 Sales $ — $ 1,331.7 $ 1,503.3 Cost of sales — (1,191.9) (1,347.5) Selling and administrative expense (0.9) (41.9) (54.7) Pre-tax gain on sale — 717.0 — Income from discontinued operations before income taxes (0.9) 814.9 101.1 Income tax benefit (expense) 0.8 (194.6) (22.1) Income from discontinued operations, net of income taxes $ (0.1) $ 620.3 $ 79.0

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill and Changes in Carrying Amount of Goodwill by Operating Segment	Changes in the carrying amount of goodwill by segment were as follows: (In millions) Specialty Engineered Materials Color, Additives and Inks Total Balance at January 1, 2022 $ 236.3 $ 1,048.5 $ 1,284.8 Acquisition of businesses 396.5 — 396.5 Currency translation 19.4 (28.8) (9.4) Balance at December 31, 2022 652.2 1,019.7 1,671.9 Acquisition of businesses 10.3 — 10.3 Currency translation 20.0 17.1 37.1 Balance at December 31, 2023 $ 682.5 $ 1,036.8 $ 1,719.3
Schedule of Indefinite-Lived Intangible Assets	Indefinite and finite-lived intangible assets consisted of the following: As of December 31, 2023 (In millions) Acquisition Cost Accumulated Amortization Currency Translation Net Customer relationships $ 726.2 $ (199.8) $ 20.0 $ 546.4 Patents, technology and other 841.8 (213.1) 22.5 651.2 Indefinite-lived trade names 368.0 — 25.2 393.2 Total $ 1,936.0 $ (412.9) $ 67.7 $ 1,590.8 As of December 31, 2022 (In millions) Acquisition Cost Accumulated Amortization Currency Translation Net Customer relationships $ 695.9 $ (164.3) $ 5.9 $ 537.5 Patents, technology and other 841.8 (168.8) 3.5 676.5 Indefinite-lived trade names 368.0 — 15.6 383.6 Total $ 1,905.7 $ (333.1) $ 25.0 $ 1,597.6
Schedule of Finite-lived Intangible Assets	Indefinite and finite-lived intangible assets consisted of the following: As of December 31, 2023 (In millions) Acquisition Cost Accumulated Amortization Currency Translation Net Customer relationships $ 726.2 $ (199.8) $ 20.0 $ 546.4 Patents, technology and other 841.8 (213.1) 22.5 651.2 Indefinite-lived trade names 368.0 — 25.2 393.2 Total $ 1,936.0 $ (412.9) $ 67.7 $ 1,590.8 As of December 31, 2022 (In millions) Acquisition Cost Accumulated Amortization Currency Translation Net Customer relationships $ 695.9 $ (164.3) $ 5.9 $ 537.5 Patents, technology and other 841.8 (168.8) 3.5 676.5 Indefinite-lived trade names 368.0 — 15.6 383.6 Total $ 1,905.7 $ (333.1) $ 25.0 $ 1,597.6
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	We expect finite-lived intangibles amortization expense for the next five years as follows: (In millions) 2024 2025 2026 2027 2028 Expected amortization expense $ 77.3 $ 77.3 $ 76.6 $ 74.5 $ 74.0

EMPLOYEE SEPARATION AND RESTR_2

EMPLOYEE SEPARATION AND RESTRUCTURING COSTS (Tables)	12 Months Ended
	Dec. 31, 2023
Restructuring and Related Activities [Abstract]
Schedule of Integration Restructuring	A summary of the Clariant Color integration restructuring is shown below: (In millions) Workforce reductions Plant closing and other Total Balance at January 1, 2021 $ 5.6 $ 0.4 $ 6.0 Restructuring costs 7.7 4.3 12.0 Payments, utilization and translation (5.8) (4.1) (9.9) Balance at December 31, 2021 $ 7.5 $ 0.6 $ 8.1 Restructuring costs 30.8 2.1 32.9 Payments, utilization and translation (4.0) (0.3) (4.3) Balance at December 31, 2022 $ 34.3 $ 2.4 $ 36.7 Restructuring costs 6.9 1.2 8.1 Payments, utilization and translation (10.9) (2.8) (13.7) Balance at December 31, 2023 $ 30.3 $ 0.8 $ 31.1
Schedule of Restructuring Charges Income Statement Line Item and by Activity and Expected to Be Incurred	Total restructuring costs included in the Consolidated Statements of Income for the years ended December 31, 2023, 2022 and 2021 are shown in the table below, and are primarily associated with the Clariant Color integration. (In millions) 2023 2022 2021 Cost of goods sold $ 11.9 $ 31.1 $ 14.5 Selling and administrative expenses 14.5 7.0 0.2 Total employee separation and restructuring charges $ 26.4 $ 38.1 $ 14.7

FINANCING ARRANGEMENTS (Tables)

FINANCING ARRANGEMENTS (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Schedule of Components of Debt	For each of the periods presented, total debt consisted of the following: As of December 31, 2023 (in millions) Principal Amount Unamortized discount and debt issuance cost Net Debt Weighted average interest rate Senior secured revolving credit facility due 2026 $ — $ — $ — — % Senior secured term loan due 2029 727.9 18.9 709.0 7.88 % 5.75% senior notes due 2025 650.0 2.8 647.2 5.75 % 7.125% senior notes due 2030 725.0 8.8 716.2 7.125 % Other Debt 7.6 — 7.6 Total Debt 2,110.5 30.5 2,080.0 Less short-term and current portion of long-term debt 9.5 — 9.5 Total long-term debt, net of current portion $ 2,101.0 $ 30.5 $ 2,070.5 As of December 31, 2022 (in millions) Principal Amount Unamortized discount and debt issuance cost Net Debt Weighted average interest rate Senior secured revolving credit facility due 2026 $ — $ — $ — — % Senior secured term loan due 2026 426.9 3.3 423.6 3.81 % Senior secured term loan due 2029 404.7 19.2 385.5 6.53 % 5.75% senior notes due 2025 650.0 4.8 645.2 5.75 % 7.125% senior notes due 2030 725.0 10.1 714.9 7.125 % Other Debt 9.7 — 9.7 Total Debt 2,216.3 37.4 2,178.9 Less short-term and current portion of long-term debt 2.2 — 2.2 Total long-term debt, net of current portion $ 2,214.1 $ 37.4 $ 2,176.7
Schedule of Maturities of Long-term Debt	Aggregate maturities of the principal amount of debt for the next five years and thereafter are as follows: (In millions) 2024 $ 9.5 2025 659.6 2026 7.8 2027 7.7 2028 7.7 Thereafter 1,418.2 Aggregate maturities $ 2,110.5

LEASING ARRANGEMENTS (Tables)

LEASING ARRANGEMENTS (Tables)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Schedule of Lease Cost	The components of lease cost from continued operations recognized within our Consolidated Statements of Income for the years ended December 31, 2023, 2022 and 2021 were as follows: (In millions) 2023 2022 2020 Cost of sales $ 19.7 $ 18.8 $ 20.1 Selling and administrative expense 11.6 10.1 9.3 Total operating lease cost $ 31.4 $ 28.9 $ 29.4
Schedule of Maturity of Lease Liabilities	Future minimum lease payments under non-cancelable operating leases with initial lease terms longer than one year as of December 31, 2023 are as follows: Maturity Analysis of Lease Liabilities: (In millions) 2023 2024 $ 20.3 2025 13.8 2026 10.1 2027 8.2 2028 4.8 Thereafter 12.3 Total $ 69.5 Less amount of lease payment representing interest (9.7) Total present value of lease payments $ 59.8

INVENTORIES, NET (Tables)

INVENTORIES, NET (Tables)	12 Months Ended
	Dec. 31, 2023
Inventory Disclosure [Abstract]
Schedule of Components of Inventories, Net	Components of Inventories, net as of December 31, 2023 and 2022 are as follows: (In millions) 2023 2022 Finished products $ 166.0 $ 157.7 Work in process 19.8 22.7 Raw materials and supplies 161.2 192.3 Inventories, net $ 347.0 $ 372.7

PROPERTY, NET (Tables)

PROPERTY, NET (Tables)	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of Components of Property, Net	Components of Property, net as of December 31, 2023 and 2022 are as follows: (In millions) 2023 2022 Land and land improvements $ 98.5 $ 103.5 Buildings 439.8 432.2 Machinery and equipment 1,381.1 1,325.3 Property, gross 1,919.4 1,861.0 Less accumulated depreciation (890.5) (811.8) Property, net $ 1,028.9 $ 1,049.2

OTHER BALANCE SHEET LIABILITI_2

OTHER BALANCE SHEET LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2023
Other Liabilities Disclosure [Abstract]
Schedule Of Components Of Other Liabilities	Other current and non-current liabilities as of December 31, 2023 and 2022 consist of the following: Accrued expenses and Other non-current liabilities (In millions) 2023 2022 2023 2022 Employment costs $ 119.8 $ 123.4 $ 12.6 $ 8.9 Deferred compensation — — 31.7 25.3 Restructuring costs 35.0 36.7 — — Environmental liabilities 32.1 27.4 125.1 90.9 Accrued taxes 45.5 121.5 — — Accrued interest 33.6 35.5 — — Dividends payable 23.5 22.5 — — Unrecognized tax benefits 3.0 0.6 16.4 26.3 Derivatives — — 199.1 68.6 Accrued capitalized software 10.0 — — — Other 12.7 28.2 9.5 15.5 Total $ 315.2 $ 395.8 $ 394.4 $ 235.5

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
Schedule of Change in Benefit Obligation, Change in Plan Assets and Components of Funded Status	The following tables present the change in benefit obligation, change in plan assets and components of funded status for defined benefit pension and post-retirement health care benefit plans. Pension Benefits Health Care Benefits (In millions) 2023 2022 2023 2022 Change in benefit obligation: Projected benefit obligation - beginning of year $ 433.8 $ 549.3 $ 5.9 $ 15.8 Service cost 3.1 4.1 — — Interest cost 19.6 14.1 0.3 0.4 Actuarial loss / (gain) 9.2 (80.8) (1.0) (2.9) Benefits paid (44.8) (47.1) (0.9) (1.0) Other 2.9 (5.8) 0.1 (6.5) Projected benefit obligation - end of year 423.8 433.8 4.4 5.9 Projected salary increases (6.5) (6.3) — — Accumulated benefit obligation $ 417.3 $ 427.5 $ 4.4 $ 5.9 Change in plan assets: Plan assets - beginning of year $ 396.6 $ 529.3 $ — $ — Actual return on plan assets 37.7 (89.9) — — Company contributions 9.1 6.3 0.9 1.0 Benefits paid (44.8) (47.0) (0.9) (1.0) Other 1.9 (2.1) — — Plan assets - end of year $ 400.5 $ 396.6 $ — $ — Unfunded status at end of year $ (23.3) $ (37.2) $ (4.4) $ (5.9)
Schedule of Amounts Included In Consolidated Balance Sheets	Amounts included in the accompanying Consolidated Balance Sheets as of December 31 are as follows: Pension Benefits Health Care Benefits (In millions) 2023 2022 2023 2022 Non-current assets $ 45.1 $ 31.0 $ — $ — Accrued expenses and other liabilities 5.1 5.7 0.5 1.3 Pension and other post-retirement benefits 63.3 62.5 3.9 4.7
Schedule of Projected and Accumulated Benefit Obligations in Excess of Plan Assets	As of December 31, 2023 and 2022, we had plans with total projected and accumulated benefit obligations in excess of the related plan assets as follows: Pension Benefits Health Care Benefits (In millions) 2023 2022 2023 2022 Projected benefit obligation $ 92.9 $ 91.5 $ 4.4 $ 5.9 Fair value of plan assets 24.5 23.3 — — Accumulated benefit obligation 86.6 80.2 4.4 5.9 Fair value of plan assets 23.8 17.7 — —
Schedule of Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost and Benefit Obligation	Weighted-average assumptions used to determine benefit obligations at December 31: Pension Benefits Health Care Benefits 2023 2022 2023 2022 Discount rate 4.52 % 4.74 % 4.87 % 5.17 % Assumed health care cost trend rates at December 31: Health care cost trend rate assumed for next year N/A N/A 6.00 % 5.93 % Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) N/A N/A 3.99 % 4.13 % Year that the rate reaches the ultimate trend rate N/A N/A 2059 2054 Weighted-average assumptions used to determine net periodic benefit cost for the years ended December 31: Pension Benefits Health Care Benefits 2023 2022 2021 2023 2022 2021 Discount rate* 4.74 % 2.69 % 2.47 % 5.17 % 2.85 % 2.66 % Expected long-term return on plan assets* 6.73 % 4.39 % 4.86 % — — — Assumed health care cost trend rates at December 31: Assumed health care cost trend rates at January 1: N/A N/A N/A 5.93 % 6.44 % 6.24 % Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) N/A N/A N/A 4.08 % 4.08 % 4.04 % Year that the rate reaches the ultimate trend rate N/A N/A N/A 2055 2065 2066
Schedule of Components of Net Period Benefit Cost or Gain	The following table summarizes the components of net periodic benefit cost or gain that was recognized during each of the years in the three-year period ended December 31, 2023. Pension Benefits Health Care Benefits (In millions) 2023 2022 2021 2023 2022 2021 Components of net periodic benefit cost: Service cost $ 3.1 $ 4.1 $ 4.7 $ — $ — $ 0.1 Interest cost 19.6 14.1 14.2 0.3 0.4 0.5 Expected return on plan assets (25.5) (22.4) (26.9) — — — Amortization of prior service cost (0.1) — — (6.3) — — Mark-to-market actuarial net (gains) losses (2.8) 31.4 11.9 (1.0) (2.9) (1.6) Other — — (0.6) — — (0.3) Net periodic (income) cost $ (5.7) $ 27.2 $ 3.3 $ (7.0) $ (2.4) $ (1.3)
Schedule of Fair Values of Pension Plan Assets	The fair values of pension plan assets at December 31, 2023 and 2022, by asset category, are as follows: Fair Value of Plan Assets at December 31, 2023 (In millions) Quoted Significant Significant Total Investments (at Fair Value) Asset category Cash $ 3.9 $ — $ — $ 3.9 Bonds and notes 52.8 — — 52.8 Global equity 8.7 — — 8.7 Other — 3.1 15.3 18.4 Total $ 65.4 $ 3.1 $ 15.3 $ 83.8 Investments measured at NAV: Common collective funds: United States equity 43.8 International equity 44.0 Global equity 21.9 Fixed income 207.0 Total common collective funds $ 316.7 Total investments at fair value $ 400.5 Fair Value of Plan Assets at December 31, 2022 (In millions) Quoted Significant Significant Total Investments (at Fair Value) Asset category Cash $ 3.7 $ — $ — $ 3.7 Bonds and notes 50.0 — — 50.0 Global equity 7.7 — — 7.7 Other — 2.7 14.5 17.2 Total $ 61.4 $ 2.7 $ 14.5 $ 78.6 Investments measured at NAV: Common collective funds: United States equity 42.7 International equity 43.4 Global equity 21.6 Fixed income 210.3 Total common collective funds $ 318.0 Total investments at fair value $ 396.6
Schedule of Estimated Future Benefit Payments	The estimated future benefit payments for our pension and health care plans are as follows: (In millions) Pension Benefits Health Care Benefits 2024 $ 40.2 $ 0.5 2025 39.0 0.5 2026 37.8 0.4 2027 36.7 0.4 2028 36.4 0.3 2029 through 2033 163.3 1.3
Schedule of Contributions to the Retirement Savings Plan	Following are our contributions to the RSP: (In millions) 2023 2022 2021 Retirement savings match $ 11.9 $ 12.7 $ 10.7

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Environmental Exit Costs by Cost	The following table details the changes in the environmental accrued liabilities: (In millions) 2023 2022 2021 Balance at beginning of the year $ 118.3 $ 124.5 $ 119.7 Environmental expenses 69.6 24.1 23.0 Net cash payments (30.7) (30.2) (18.2) Currency translation and other — (0.1) — Balance at the end of year $ 157.2 $ 118.3 $ 124.5

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of Income (Loss) Before Income Taxes	Income (loss) from continuing operations, before income taxes consists of the following: (In millions) 2023 2022 2021 Domestic $ (2.7) $ (82.4) $ (22.1) International 90.0 146.2 225.6 Income from continuing operations, before income taxes $ 87.3 $ 63.8 $ 203.5
Schedule of Income Tax Expense (Benefit)	A summary of income tax expense (benefit) from continuing operations is as follows: (In millions) 2023 2022 2021 Current income tax expense (benefit): Domestic $ 18.5 $ (76.2) $ 23.4 International 53.8 56.4 50.8 Total current income tax expense (benefit) $ 72.3 $ (19.8) $ 74.2 Deferred income tax expense (benefit): Domestic $ (35.8) $ 2.6 $ (26.8) International (25.5) (2.1) 4.5 Total deferred income tax (benefit) expense $ (61.3) $ 0.5 $ (22.3) Total income tax expense (benefit) $ 11.0 $ (19.3) $ 51.9
Schedule of Reconciliation Between Effective Income Tax Rate and U.S. Statutory Rate	A reconciliation of the applicable U.S. federal statutory tax rate to the consolidated effective income tax rate from continuing operations along with a description of significant reconciling items is included below for the years ended December 31, 2023, 2022 and 2021. 2023 2022 2021 U.S. federal income tax rate 21.0 % 21.0 % 21.0 % International tax rate differential: Asia 0.9 1.1 0.4 Europe (5.2) (12.4) (1.8) North and South America 4.5 5.9 1.1 Total international tax rate differential 0.2 (5.5) (0.3) Net tax on GILTI and FDII 1.9 2.8 (1.0) International tax on certain current and prior year earnings 3.9 0.2 2.0 Non-deductible acquisition related costs — 0.9 0.1 Non-deductible interest 5.3 2.9 — Research and development credit (3.7) (5.0) (1.1) Capital losses (5.4) (88.1) (0.6) State and local tax, net (2.3) (4.0) 0.2 International permanent items (7.5) 12.1 0.2 Net impact of uncertain tax positions (5.3) 12.9 1.0 Changes in valuation allowances 3.6 15.4 2.6 Other 0.9 4.2 1.4 Effective income tax rate 12.6 % (30.2) % 25.5 %
Schedule of Components of Deferred Tax Assets and (Liabilities)	Components of our deferred tax assets (liabilities) as of December 31, 2023 and 2022 were as follows: (In millions) 2023 2022 Deferred tax assets: Employment costs 21.4 21.0 Environmental accruals 38.5 29.2 Net operating loss carryforwards 66.0 54.3 Operating leases 7.8 11.8 Research and development 45.8 39.2 Capitalized and carryforward interest 48.7 18.2 Financial Derivatives 48.3 16.7 Other, net 52.2 54.4 Gross deferred tax assets $ 328.7 $ 244.8 Valuation allowances (39.6) (35.3) Total deferred tax assets, net of valuation allowances $ 289.1 $ 209.5 Deferred tax liabilities: Property, plant and equipment $ (101.3) $ (117.4) Goodwill and intangibles (351.2) (337.3) Operating leases (7.6) (12.0) Other, net (18.3) (11.7) Total deferred tax liabilities $ (478.4) $ (478.4) Net deferred tax (liabilities) assets $ (189.3) $ (268.9) Consolidated Balance Sheets: Non-current deferred income tax assets $ 92.3 $ 73.6 Non-current deferred income tax liabilities $ (281.6) $ (342.5)
Schedule of Changes in Unrecognized Tax Benefits	Unrecognized Tax Benefits (In millions) 2023 2022 2021 Balance as of January 1, $ 25.4 $ 19.8 $ 9.5 Increases as a result of positions taken during current year 1.9 10.6 5.9 Increases as a result of positions taken for prior years 0.4 0.4 0.2 Balance related to acquired businesses — — 5.4 Reductions for tax positions of prior years (10.7) (4.3) — Decreases as a result of lapse of statute of limitations (0.6) (0.6) (1.5) Other, net 0.5 (0.5) 0.3 Balance as of December 31, $ 16.9 $ 25.4 $ 19.8

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Compensation Expense	Share-based compensation is included in Selling and administrative expense . A summary of compensation expense by type of award follows: (In millions) 2023 2022 2021 Stock appreciation rights $ 6.1 $ 5.9 $ 5.2 Performance shares 0.2 0.2 0.2 Restricted stock units 6.9 7.1 5.8 Total share-based compensation $ 13.2 $ 13.2 $ 11.2
Schedule of Assumptions Related To Grants	The following is a summary of the weighted average assumptions related to the grants issued during 2023, 2022 and 2021: 2023 2022 2021 Expected volatility 35.0% 33.0% 34.0% Expected dividends 2.30% 1.80% 2.01% Expected term (in years) 6.4 6.9 6.9 Risk-free rate 3.82% 1.98% 1.19% Value of SARs granted $13.28 $14.91 $11.72
Schedule of Stock Appreciation Rights	A summary of SAR activity for 2023 is presented below: (In millions, except per share data) Shares Weighted-Average Exercise Price per Share Weighted-Average Remaining Contractual Term Aggregate Intrinsic value Outstanding as of January 1, 2023 2.2 $ 39.08 6.8 $ 2.6 Granted 0.5 42.93 Exercised (0.1) 28.35 Forfeited or expired (0.1) 36.88 Outstanding as of December 31, 2023 2.5 $ 40.18 6.6 $ 9.2 Vested and exercisable as of December 31, 2023 1.5 $ 35.71 5.2 $ 9.2

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Schedule of Financial Information by Reportable Segment	Financial information by reportable segment is as follows: (In millions) Year Ended December 31, 2023 Total Sales Operating Income Depreciation and Amortization Capital Expenditures Color, Additives and Inks $ 2,007.4 $ 259.9 $ 98.3 $ 21.4 Specialty Engineered Materials 1,138.2 142.5 81.5 50.1 Corporate (2.8) (205.6) 9.0 47.9 Total from continuing operations $ 3,142.8 $ 196.8 $ 188.8 $ 119.4 Year Ended December 31, 2022 Total Sales Operating Income Depreciation and Amortization Capital Expenditures Color, Additives and Inks $ 2,355.0 $ 301.0 $ 101.3 $ 41.3 Specialty Engineered Materials 1,044.4 140.1 48.7 37.4 Corporate (2.5) (197.8) 12.5 26.4 Total from continuing operations $ 3,396.9 $ 243.3 $ 162.5 $ 105.1 Year Ended December 31, 2021 Total Sales Operating Income Depreciation and Amortization Capital Expenditures Color, Additives and Inks $ 2,401.6 $ 303.1 $ 105.7 $ 40.5 Specialty Engineered Materials 911.6 125.5 31.7 26.4 Corporate 2.3 (148.9) 7.7 32.9 Total from continuing operations $ 3,315.5 $ 279.7 $ 145.1 $ 99.8
Schedule of Revenue and Long-Lived Assets	Our sales are primarily to customers in the United States, Canada, Mexico, Europe, South America and Asia, and the majority of our assets are located in these same geographic areas. The following is a summary of sales and long-lived assets based on the geographic areas where the sales originated and where the assets are located: (In millions) 2023 2022 2021 Sales: United States and Canada $ 1,271.2 $ 1,372.9 $ 1,262.3 Latin America 167.5 180.1 158.5 Europe 1,151.9 1,213.1 1,195.7 Asia 552.2 630.8 699.0 Total Sales $ 3,142.8 $ 3,396.9 $ 3,315.5 2023 2022 Assets: Color, Additives and Inks $ 2,657.2 $ 2,703.1 Specialty Engineered Materials 2,532.6 2,526.5 Corporate 778.7 855.4 Total Assets $ 5,968.5 $ 6,085.0 2023 2022 Property, net: United States and Canada $ 506.4 $ 513.4 Latin America 29.4 26.5 Europe 284.2 272.2 Asia 208.9 237.1 Total Long-lived Assets $ 1,028.9 $ 1,049.2

DERIVATIVES AND HEDGING (Tables

DERIVATIVES AND HEDGING (Tables)	12 Months Ended
	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The fair value of derivative financial instruments recognized in the Consolidated Balance Sheets as of December 31, 2023 and 2022 is as follows: (In millions) Balance Sheet Location 2023 2022 Cross Currency Swaps (Net Investment Hedge) Other non-current liabilities $ 199.1 $ 68.6

DESCRIPTION Of BUSINESS AND S_4

DESCRIPTION Of BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) segment	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Accounting Policies [Line Items]
Number of reportable segments | segment	2
Inventory allowance	$ 34,500,000	$ 32,100,000
Impairment of long-lived assets	0	0	$ 0
Research and development costs	$ 90,300,000	$ 84,900,000	$ 83,200,000
Minimum | Machinery and equipment
Accounting Policies [Line Items]
Property and equipment useful lives	3 years
Maximum
Accounting Policies [Line Items]
Finite-lived intangible asset useful life	25 years
Maximum | Machinery and equipment
Accounting Policies [Line Items]
Property and equipment useful lives	15 years
Maximum | Buildings
Accounting Policies [Line Items]
Property and equipment useful lives	40 years

DESCRIPTION Of BUSINESS AND S_5

DESCRIPTION Of BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule Of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Changes in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ 2,352.8	$ 1,790.5	$ 1,711.7
Translation Adjustments	90.9	(60.3)	(127.7)
Unrealized gains (losses) on derivatives	(96.1)	23.9	55.7
Prior service credit	(6.3)	6.2	0
Ending balance	2,338	2,352.8	1,790.5
Cumulative Translation Adjustment and Related Hedging Instruments
Changes in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(87.3)	(48.6)	26.6
Translation Adjustments	90.9	(60.3)	(127.7)
Unrealized gains (losses) on derivatives	(96.1)	21.6	52.5
Ending balance	(92.5)	(87.3)	(48.6)
Pension and other post-retirement benefits
Changes in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	11.4	5.2	5.2
Prior service credit	(6.4)	6.2
Ending balance	5	11.4	5.2
Cash Flow Hedges
Changes in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	0.1	(2.2)	(5.4)
Unrealized gains (losses) on derivatives	0	2.3	3.2
Ending balance	0.1	0.1	(2.2)
Total
Changes in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(75.8)	(45.6)	26.4
Prior service credit	(6.4)	6.2
Ending balance	$ (87.4)	$ (75.8)	$ (45.6)

BUSINESS COMBINATIONS - Narrati

BUSINESS COMBINATIONS - Narrative (Details) - USD ($) $ in Millions		12 Months Ended
	Sep. 01, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Business acquisitions, net of cash acquired		$ 0	$ 1,426.1	$ 47.6
Goodwill		$ 1,719.3	$ 1,671.9	$ 1,284.8
Maximum
Business Acquisition [Line Items]
Intangible asset, weighted average lives (years)		25 years
APM Acquisition
Business Acquisition [Line Items]
Business acquisitions, net of cash acquired	$ 1,400
Goodwill	$ 277.1	$ 406.8
APM Acquisition | Minimum
Business Acquisition [Line Items]
Intangible asset, weighted average lives (years)	17 years
APM Acquisition | Maximum
Business Acquisition [Line Items]
Intangible asset, weighted average lives (years)	20 years

BUSINESS COMBINATIONS - Schedul

BUSINESS COMBINATIONS - Schedule of Purchase Price Allocation (Details) - USD ($) $ in Millions	16 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Sep. 01, 2022	Dec. 31, 2021
Preliminary Allocation/Final Allocation
Goodwill	$ 1,719.3	$ 1,671.9		$ 1,284.8
APM Acquisition
Preliminary Allocation/Final Allocation
Cash and cash equivalents	50.7		$ 50.7
Accounts receivable	54		52.2
Inventories	128.1		136.2
Other current assets	3.7		2
Property	346.4		361.9
Goodwill	406.8		277.1
Other non-current assets	12.2		12.3
Accounts payable	32.2		32.2
Accrued expenses and other current liabilities	13.2		12.9
Deferred tax liabilities	216		86.1
Noncontrolling interests	2.3		0
Other non-current liabilities	10.1		13.1
Total purchase price consideration	1,476.8		1,476.8
Measurement Period Adjustments
Accounts receivable	1.8
Inventories	(8.1)
Other current assets	1.7
Property	(15.5)
Goodwill	129.7
Other non-current assets	(0.1)
Accrued expenses and other current liabilities	0.3
Deferred tax liabilities	129.9
Noncontrolling interests	2.3
Other non-current liabilities	(3)
Total purchase price consideration	0
APM Acquisition | Customer relationships
Preliminary Allocation/Final Allocation
Intangible assets	218.7		198.7
Measurement Period Adjustments
Intangible assets	20
APM Acquisition | Patents, technology, and other
Preliminary Allocation/Final Allocation
Intangible assets	275.1		275.1
APM Acquisition | Indefinite-lived trade names
Preliminary Allocation/Final Allocation
Indefinite-lived trade names	$ 254.9		$ 254.9

BUSINESS COMBINATIONS - Sched_2

BUSINESS COMBINATIONS - Schedule of Pro Forma Information Sales and Income from Continuing Operations (Details) - APM Acquisition - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Sales	$ 3,653	$ 3,712
Income from continuing operations before income taxes	$ 162	$ 133.5

DISCONTINUED OPERATIONS - Narra

DISCONTINUED OPERATIONS - Narrative (Details) - USD ($) $ in Millions	12 Months Ended			24 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2023	Nov. 01, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net proceeds from divestiture	$ 7.3	$ 928.2	$ 0
Discontinued Operation, Gain (Loss) on Disposal, Statement of Income or Comprehensive Income [Extensible Enumeration]		(Loss) income from discontinued operations, net of income taxes
Distribution Business | Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash consideration					$ 950
Net proceeds from divestiture	$ 7.3			$ 935.5
Gain (loss) on sale of business, net of tax		$ 550.1

DISCONTINUED OPERATIONS - Sched

DISCONTINUED OPERATIONS - Schedule of Discontinued Operations (Details) - Distribution Business - Discontinued Operations, Disposed of by Sale - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement Information
Sales	$ 0	$ 1,331.7	$ 1,503.3
Cost of sales	0	(1,191.9)	(1,347.5)
Selling and administrative expense	(0.9)	(41.9)	(54.7)
Pre-tax gain on sale	0	717	0
Income from discontinued operations before income taxes	(0.9)	814.9	101.1
Income tax benefit (expense)	0.8	(194.6)	(22.1)
Income from discontinued operations, net of income taxes	$ (0.1)	$ 620.3	$ 79

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS -Schedule of Goodwill and Changes in Carrying Amount of Goodwill by Operating Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Goodwill [Roll Forward]
Goodwill, Beginning Balance	$ 1,671.9	$ 1,284.8
Acquisition of businesses	10.3	396.5
Currency translation	37.1	(9.4)
Goodwill, Ending Balance	1,719.3	1,671.9
Specialty Engineered Materials
Goodwill [Roll Forward]
Goodwill, Beginning Balance	652.2	236.3
Acquisition of businesses	10.3	396.5
Currency translation	20	19.4
Goodwill, Ending Balance	682.5	652.2
Color, Additives and Inks
Goodwill [Roll Forward]
Goodwill, Beginning Balance	1,019.7	1,048.5
Acquisition of businesses	0	0
Currency translation	17.1	(28.8)
Goodwill, Ending Balance	$ 1,036.8	$ 1,019.7

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Schedule of Indefinite and Finite-Lived Intangible Assets (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization	$ (412.9)	$ (333.1)
Indefinite-lived Intangible Assets [Line Items]
Acquisition Cost	1,936	1,905.7
Currency Translation	67.7	25
Net	1,590.8	1,597.6
Indefinite-lived trade names
Indefinite-lived Intangible Assets [Line Items]
Acquisition Cost	368	368
Currency Translation	25.2	15.6
Net	393.2	383.6
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Acquisition Cost	726.2	695.9
Accumulated Amortization	(199.8)	(164.3)
Currency Translation	20	5.9
Net	546.4	537.5
Patents, technology and other
Finite-Lived Intangible Assets [Line Items]
Acquisition Cost	841.8	841.8
Accumulated Amortization	(213.1)	(168.8)
Currency Translation	22.5	3.5
Net	$ 651.2	$ 676.5

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of other finite-lived intangible assets	$ 79.8	$ 63.6	$ 57.5

GOODWILL AND INTANGIBLE ASSET_5

GOODWILL AND INTANGIBLE ASSETS - Schedule of Future Amortization (Details) $ in Millions	Dec. 31, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 77.3
2025	77.3
2026	76.6
2027	74.5
2028	$ 74

EMPLOYEE SEPARATION AND RESTR_3

EMPLOYEE SEPARATION AND RESTRUCTURING COSTS - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 26.4	$ 38.1	$ 14.7
Workforce reductions
Restructuring Cost and Reserve [Line Items]
Restructuring costs	18.3
Cash payments	14.2
Clariant Color Acquisition Integration, Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Expected cost of restructuring	75
Cost incurred	60.3
Restructuring costs	8.1	32.9	12
Clariant Color Acquisition Integration, Restructuring Plan | Workforce reductions
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 6.9	$ 30.8	$ 7.7

EMPLOYEE SEPARATION AND RESTR_4

EMPLOYEE SEPARATION AND RESTRUCTURING COSTS - Schedule of Integration Restructuring (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restructuring Reserve [Roll Forward]
Restructuring costs	$ 26.4	$ 38.1	$ 14.7
Clariant Color Acquisition Integration, Restructuring Plan
Restructuring Reserve [Roll Forward]
Beginning balance	36.7	8.1	6
Restructuring costs	8.1	32.9	12
Payments, utilization and translation	(13.7)	(4.3)	(9.9)
Ending balance	31.1	36.7	8.1
Workforce reductions
Restructuring Reserve [Roll Forward]
Restructuring costs	18.3
Workforce reductions | Clariant Color Acquisition Integration, Restructuring Plan
Restructuring Reserve [Roll Forward]
Beginning balance	34.3	7.5	5.6
Restructuring costs	6.9	30.8	7.7
Payments, utilization and translation	(10.9)	(4)	(5.8)
Ending balance	30.3	34.3	7.5
Plant closing and other | Clariant Color Acquisition Integration, Restructuring Plan
Restructuring Reserve [Roll Forward]
Beginning balance	2.4	0.6	0.4
Restructuring costs	1.2	2.1	4.3
Payments, utilization and translation	(2.8)	(0.3)	(4.1)
Ending balance	$ 0.8	$ 2.4	$ 0.6

EMPLOYEE SEPARATION AND RESTR_5

EMPLOYEE SEPARATION AND RESTRUCTURING COSTS - Income Statement (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 26.4	$ 38.1	$ 14.7
Restructuring, Incurred Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Cost of sales, Selling and administrative expense
Cost of goods sold
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 11.9	31.1	14.5
Selling and administrative expense
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 14.5	$ 7	$ 0.2

FINANCING ARRANGEMENTS - Schedu

FINANCING ARRANGEMENTS - Schedule of Components of Debt (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Principal Amount	$ 2,110.5	$ 2,216.3
Unamortized discount and debt issuance cost	30.5	37.4
Net Debt	2,080	2,178.9
Less short-term and current portion of long-term debt	9.5	2.2
Less short-term debt 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	9.5	2.2
Total long-term debt, net of current portion, Principal Amount	2,101	2,214.1
Total long-term debt, net of current portion, Unamortized discount and debt issuance cost	30.5	37.4
Total long-term debt, net of current portion, Net Debt	2,070.5	2,176.7
Senior secured revolving credit facility due 2026 | Revolving Credit Facility
Debt Instrument [Line Items]
Principal Amount	0	0
Unamortized discount and debt issuance cost	0	0
Net Debt	$ 0	$ 0
Weighted average interest rate	0%	0%
Senior secured term loan due 2029 | Secured Debt
Debt Instrument [Line Items]
Principal Amount	$ 727.9	$ 404.7
Unamortized discount and debt issuance cost	18.9	19.2
Net Debt	$ 709	$ 385.5
Weighted average interest rate	7.88%	6.53%
5.75% senior notes due 2025 | Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage	5.75%	5.75%
Principal Amount	$ 650	$ 650
Unamortized discount and debt issuance cost	2.8	4.8
Net Debt	$ 647.2	$ 645.2
Weighted average interest rate	5.75%	5.75%
7.125% senior notes due 2030 | Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage	7.125%
Principal Amount	$ 725
Unamortized discount and debt issuance cost	8.8
Net Debt	$ 716.2
Weighted average interest rate	7.125%
7.125% senior notes due 2030 | Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage		7.125%
Principal Amount		$ 725
Unamortized discount and debt issuance cost		10.1
Net Debt		$ 714.9
Weighted average interest rate		7.125%
Senior secured term loan due 2026 | Secured Debt
Debt Instrument [Line Items]
Principal Amount		$ 426.9
Unamortized discount and debt issuance cost		3.3
Net Debt		$ 423.6
Weighted average interest rate		3.81%
Other Debt
Debt Instrument [Line Items]
Principal Amount	$ 7.6	$ 9.7
Unamortized discount and debt issuance cost	0	0
Net Debt	$ 7.6	$ 9.7

FINANCING ARRANGEMENTS - Narrat

FINANCING ARRANGEMENTS - Narrative (Details) - USD ($)		12 Months Ended
	Aug. 16, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Write-off of unamortized issuance costs and discounts associated within Interest expense		$ 1,900,000
Fair value of debt instruments		2,113,700,000	$ 2,153,100,000
Borrowings		2,080,000,000	2,178,900,000
Interest income		49,800,000	34,000,000	$ 17,500,000
Total interest paid on debt		106,300,000	69,400,000	$ 72,600,000
Senior secured term loan due 2029 | Senior Notes
Debt Instrument [Line Items]
Aggregate principal	$ 731,600,000
Proceeds from notes offering, net of issuance costs	$ 102,300,000
Credit Agreement | SOFR
Debt Instrument [Line Items]
Interest rate, basis spread on variable rate	2.50%
Credit Agreement | Base Rate
Debt Instrument [Line Items]
Interest rate, basis spread on variable rate	1.50%
Senior Secured Revolving Credit Facility due 2022 | Revolving Credit Facility
Debt Instrument [Line Items]
Borrowings outstanding		0
Borrowings		0	$ 0
Senior Secured Revolving Credit Facility due 2022 | Line of Credit
Debt Instrument [Line Items]
Remaining availability on credit line		199,700,000
Senior Secured Revolving Credit Facility due 2022 | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 500,000,000

FINANCING ARRANGEMENTS - Sche_2

FINANCING ARRANGEMENTS - Schedule of Maturities of Long-term Debt (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
2024	$ 9.5
2025	659.6
2026	7.8
2027	7.7
2028	7.7
Thereafter	1,418.2
Principal Amount	$ 2,110.5	$ 2,216.3

LEASING ARRANGEMENTS - Schedule

LEASING ARRANGEMENTS - Schedule of Lease Cost (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Lessee, Lease, Description [Line Items]
Total operating lease cost	$ 31.4	$ 28.9	$ 29.4
Cost of sales
Lessee, Lease, Description [Line Items]
Total operating lease cost	19.7	18.8	20.1
Selling and administrative expense
Lessee, Lease, Description [Line Items]
Total operating lease cost	$ 11.6	$ 10.1	$ 9.3

LEASING ARRANGEMENTS - Narrativ

LEASING ARRANGEMENTS - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Weighted average remaining lease term	5 years 7 months 6 days	5 years 8 months 12 days
Non-cash net increase in operating lease liability	$ 18.1	$ 13.8	$ 8.3
Weighted average discount rate	5%	4.80%

LEASING ARRANGEMENTS - Schedu_2

LEASING ARRANGEMENTS - Schedule of Maturity of Lease Liabilities (Details) $ in Millions	Dec. 31, 2023 USD ($)
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2024	$ 20.3
2025	13.8
2026	10.1
2027	8.2
2028	4.8
Thereafter	12.3
Total	69.5
Less amount of lease payment representing interest	(9.7)
Total present value of lease payments	$ 59.8

INVENTORIES, NET - Schedule of

INVENTORIES, NET - Schedule of Components of Inventories, Net (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Finished products	$ 166	$ 157.7
Work in process	19.8	22.7
Raw materials and supplies	161.2	192.3
Inventories, net	$ 347	$ 372.7

PROPERTY, NET - Schedule of Com

PROPERTY, NET - Schedule of Components of Property, Net (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property, gross	$ 1,919.4	$ 1,861
Less accumulated depreciation	(890.5)	(811.8)
Property, net	1,028.9	1,049.2
Land and land improvements
Property, Plant and Equipment [Line Items]
Property, gross	98.5	103.5
Buildings
Property, Plant and Equipment [Line Items]
Property, gross	439.8	432.2
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, gross	$ 1,381.1	$ 1,325.3

PROPERTY, NET - Narrative (Deta

PROPERTY, NET - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 109	$ 98.9	$ 85.5

OTHER BALANCE SHEET LIABILITI_3

OTHER BALANCE SHEET LIABILITIES - Schedule Of Components Of Other Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Accrued expenses and other current liabilities
Employment costs	$ 119.8	$ 123.4
Deferred compensation	0	0
Restructuring costs	35	36.7
Environmental liabilities	32.1	27.4
Accrued taxes	45.5	121.5
Accrued interest	33.6	35.5
Dividends payable	23.5	22.5
Unrecognized tax benefits	3	0.6
Derivatives	0	0
Accrued capitalized software	10	0
Other	12.7	28.2
Total	315.2	395.8
Other non-current liabilities
Employment costs	12.6	8.9
Deferred compensation	31.7	25.3
Restructuring costs	0	0
Environmental liabilities	125.1	90.9
Accrued taxes	0	0
Accrued interest	0	0
Dividends payable	0	0
Unrecognized tax benefits	16.4	26.3
Derivatives	199.1	68.6
Accrued capitalized software	0	0
Other	9.5	15.5
Total	$ 394.4	$ 235.5

EMPLOYEE BENEFIT PLANS - Schedu

EMPLOYEE BENEFIT PLANS - Schedule of Change in Benefit Obligation, Change in Plan Assets and Components of Funded Status (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pension Benefits
Change in benefit obligation:
Projected benefit obligation - beginning of year	$ 433.8	$ 549.3
Service cost	3.1	4.1	$ 4.7
Interest cost	19.6	14.1	14.2
Actuarial loss / (gain)	9.2	(80.8)
Benefits paid	(44.8)	(47.1)
Other	2.9	(5.8)
Projected benefit obligation - end of year	423.8	433.8	549.3
Projected salary increases	(6.5)	(6.3)
Accumulated benefit obligation	417.3	427.5
Change in plan assets:
Plan assets - beginning of year	396.6	529.3
Actual return on plan assets	37.7	(89.9)
Company contributions	9.1	6.3
Benefits paid	(44.8)	(47)
Other	1.9	(2.1)
Plan assets - end of year	400.5	396.6	529.3
Unfunded status at end of year	(23.3)	(37.2)
Health Care Benefits
Change in benefit obligation:
Projected benefit obligation - beginning of year	5.9	15.8
Service cost	0	0	0.1
Interest cost	0.3	0.4	0.5
Actuarial loss / (gain)	(1)	(2.9)
Benefits paid	(0.9)	(1)
Other	0.1	(6.5)
Projected benefit obligation - end of year	4.4	5.9	15.8
Projected salary increases	0	0
Accumulated benefit obligation	4.4	5.9
Change in plan assets:
Plan assets - beginning of year	0	0
Actual return on plan assets	0	0
Company contributions	0.9	1
Benefits paid	(0.9)	(1)
Other	0	0
Plan assets - end of year	0	0	$ 0
Unfunded status at end of year	$ (4.4)	$ (5.9)

EMPLOYEE BENEFIT PLANS - Sche_2

EMPLOYEE BENEFIT PLANS - Schedule of Amounts Included In Consolidated Balance Sheets (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Pension and other post-employment benefits	$ 67.2	$ 67.2
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Non-current assets	45.1	31
Accrued expenses and other liabilities	5.1	5.7
Pension and other post-employment benefits	63.3	62.5
Health Care Benefits
Defined Benefit Plan Disclosure [Line Items]
Non-current assets	0	0
Accrued expenses and other liabilities	0.5	1.3
Pension and other post-employment benefits	$ 3.9	$ 4.7

EMPLOYEE BENEFIT PLANS - Sche_3

EMPLOYEE BENEFIT PLANS - Schedule of Projected and Accumulated Benefit Obligations in Excess of Plan Assets (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	$ 92.9	$ 91.5
Fair value of plan assets	24.5	23.3
Accumulated benefit obligation	86.6	80.2
Fair value of plan assets	23.8	17.7
Health Care Benefits
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	4.4	5.9
Fair value of plan assets	0	0
Accumulated benefit obligation	4.4	5.9
Fair value of plan assets	$ 0	$ 0

EMPLOYEE BENEFIT PLANS - Sche_4

EMPLOYEE BENEFIT PLANS - Schedule of Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost and Benefit Obligation (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Discount rate
Discount rate	4.52%	4.74%	2.69%	2.47%
Pension Benefits
Discount rate
Discount rate	4.52%	4.74%
Health Care Benefits
Discount rate
Discount rate	4.87%	5.17%
Assumed health care cost trend rates at December 31:
Health care cost trend rate assumed for next year	6%	5.93%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	3.99%	4.13%
Year that the rate reaches the ultimate trend rate	2059	2054

EMPLOYEE BENEFIT PLANS - Sche_5

EMPLOYEE BENEFIT PLANS - Schedule of Components of Net Period Benefit Cost or Gain (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pension Benefits
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	$ 3.1	$ 4.1	$ 4.7
Interest cost	19.6	14.1	14.2
Expected return on plan assets	(25.5)	(22.4)	(26.9)
Amortization of prior service cost	(0.1)	0	0
Mark-to-market actuarial net (gains) losses	(2.8)	31.4	11.9
Other	0	0	(0.6)
Net periodic (income) cost	(5.7)	27.2	3.3
Health Care Benefits
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	0	0	0.1
Interest cost	0.3	0.4	0.5
Expected return on plan assets	0	0	0
Amortization of prior service cost	(6.3)	0	0
Mark-to-market actuarial net (gains) losses	(1)	(2.9)	(1.6)
Other	0	0	(0.3)
Net periodic (income) cost	$ (7)	$ (2.4)	$ (1.3)

EMPLOYEE BENEFIT PLANS - Narrat

EMPLOYEE BENEFIT PLANS - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Mark-to-market loss (gain) net on pension plans	$ 3.8	$ 28.5	$ 9.4
Discount rate	4.52%	4.74%	2.69%	2.47%
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate	4.52%	4.74%
Employer contributions to defined benefit plans	$ 7.6
Health Care Benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate	4.87%	5.17%
Employer contributions to defined benefit plans	$ 0.5

EMPLOYEE BENEFIT PLANS - Sche_6

EMPLOYEE BENEFIT PLANS - Schedule of Weighted Average Assumptions Used to Determine Net Periodic Benefit Costs (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pension Benefits
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
Discount rate	4.74%	2.69%	2.47%
Expected long-term return on plan assets	6.73%	4.39%	4.86%
Health Care Benefits
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
Discount rate	5.17%	2.85%	2.66%
Expected long-term return on plan assets	0%	0%	0%
Assumed health care cost trend rates at December 31:
Assumed health care cost trend rates at January 1:	5.93%	6.44%	6.24%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	4.08%	4.08%	4.04%
Year that the rate reaches the ultimate trend rate	2055	2065	2066

EMPLOYEE BENEFIT PLANS - Sche_7

EMPLOYEE BENEFIT PLANS - Schedule of Fair Values of Pension Plan Assets (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Fair Value Measured at Net Asset Value Per Share | Fixed income
Defined Benefit Plan Disclosure [Line Items]
Plan assets	$ 207	$ 210.3
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Plan assets	400.5	396.6	$ 529.3
Pension Benefits | Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Plan assets	83.8	78.6
Pension Benefits | Fair Value, Inputs, Level 1, 2 and 3 | Cash
Defined Benefit Plan Disclosure [Line Items]
Plan assets	3.9	3.7
Pension Benefits | Fair Value, Inputs, Level 1, 2 and 3 | Bonds and notes
Defined Benefit Plan Disclosure [Line Items]
Plan assets	52.8	50
Pension Benefits | Fair Value, Inputs, Level 1, 2 and 3 | Global equity
Defined Benefit Plan Disclosure [Line Items]
Plan assets	8.7	7.7
Pension Benefits | Fair Value, Inputs, Level 1, 2 and 3 | Other
Defined Benefit Plan Disclosure [Line Items]
Plan assets	18.4	17.2
Pension Benefits | Quoted Prices in Active Markets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Plan assets	65.4	61.4
Pension Benefits | Quoted Prices in Active Markets (Level 1) | Cash
Defined Benefit Plan Disclosure [Line Items]
Plan assets	3.9	3.7
Pension Benefits | Quoted Prices in Active Markets (Level 1) | Bonds and notes
Defined Benefit Plan Disclosure [Line Items]
Plan assets	52.8	50
Pension Benefits | Quoted Prices in Active Markets (Level 1) | Global equity
Defined Benefit Plan Disclosure [Line Items]
Plan assets	8.7	7.7
Pension Benefits | Quoted Prices in Active Markets (Level 1) | Other
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0	0
Pension Benefits | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Plan assets	3.1	2.7
Pension Benefits | Significant Other Observable Inputs (Level 2) | Cash
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0	0
Pension Benefits | Significant Other Observable Inputs (Level 2) | Bonds and notes
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0	0
Pension Benefits | Significant Other Observable Inputs (Level 2) | Global equity
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0	0
Pension Benefits | Significant Other Observable Inputs (Level 2) | Other
Defined Benefit Plan Disclosure [Line Items]
Plan assets	3.1	2.7
Pension Benefits | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Plan assets	15.3	14.5
Pension Benefits | Significant Unobservable Inputs (Level 3) | Cash
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0	0
Pension Benefits | Significant Unobservable Inputs (Level 3) | Bonds and notes
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0	0
Pension Benefits | Significant Unobservable Inputs (Level 3) | Global equity
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0	0
Pension Benefits | Significant Unobservable Inputs (Level 3) | Other
Defined Benefit Plan Disclosure [Line Items]
Plan assets	15.3	14.5
Pension Benefits | Fair Value Measured at Net Asset Value Per Share | Total common collective funds
Defined Benefit Plan Disclosure [Line Items]
Plan assets	316.7	318
Pension Benefits | Fair Value Measured at Net Asset Value Per Share | United States equity
Defined Benefit Plan Disclosure [Line Items]
Plan assets	43.8	42.7
Pension Benefits | Fair Value Measured at Net Asset Value Per Share | International equity
Defined Benefit Plan Disclosure [Line Items]
Plan assets	44	43.4
Pension Benefits | Fair Value Measured at Net Asset Value Per Share | Global equity
Defined Benefit Plan Disclosure [Line Items]
Plan assets	$ 21.9	$ 21.6

EMPLOYEE BENEFIT PLANS - Sche_8

EMPLOYEE BENEFIT PLANS - Schedule of Estimated Future Benefit Payments (Details) $ in Millions	Dec. 31, 2023 USD ($)
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
2024	$ 40.2
2025	39
2026	37.8
2027	36.7
2028	36.4
2029 through 2033	163.3
Health Care Benefits
Defined Benefit Plan Disclosure [Line Items]
2024	0.5
2025	0.5
2026	0.4
2027	0.4
2028	0.3
2029 through 2033	$ 1.3

EMPLOYEE BENEFIT PLANS - Sche_9

EMPLOYEE BENEFIT PLANS - Schedule of Contributions to the Retirement Savings Plan (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Retirement Benefits [Abstract]
Retirement savings match	$ 11.9	$ 12.7	$ 10.7

COMMITMENTS AND CONTINGENCIES-

COMMITMENTS AND CONTINGENCIES- Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Feb. 29, 2020 company
Loss Contingencies [Line Items]
Accrual for environmental loss contingencies, number of companies negotiating consent decree | company					3
Accrued probable future environmental expenditures	$ 157.2	$ 118.3	$ 124.5	$ 119.7
Environmental Loss Contingency, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other current liabilities, Other non-current liabilities	Accrued expenses and other current liabilities, Other non-current liabilities
Insurance recoveries	$ 1.7	$ 8.3	$ 4.5
Calvert City
Loss Contingencies [Line Items]
Accrued probable future environmental expenditures	$ 148.9

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Schedule Of Changes In Environmental Accrued Liabilities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accrual for Environmental Loss Contingencies [Roll Forward]
Balance at beginning of the year	$ 118.3	$ 124.5	$ 119.7
Environmental expenses	69.6	24.1	23
Net cash payments	(30.7)	(30.2)	(18.2)
Currency translation and other	0	(0.1)	0
Balance at the end of year	$ 157.2	$ 118.3	$ 124.5

INCOME TAXES - Schedule of Inco

INCOME TAXES - Schedule of Income (Loss) Before Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Domestic	$ (2.7)	$ (82.4)	$ (22.1)
International	90	146.2	225.6
Income from continuing operations before income taxes	$ 87.3	$ 63.8	$ 203.5

INCOME TAXES - Schedule of In_2

INCOME TAXES - Schedule of Income Tax Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current income tax expense (benefit):
Domestic	$ 18.5	$ (76.2)	$ 23.4
International	53.8	56.4	50.8
Total current income tax expense (benefit)	72.3	(19.8)	74.2
Deferred income tax expense (benefit):
Domestic	(35.8)	2.6	(26.8)
International	(25.5)	(2.1)	4.5
Total deferred income tax (benefit) expense	(61.3)	0.5	(22.3)
Total income tax expense (benefit)	$ 11	$ (19.3)	$ 51.9

INCOME TAXES - Schedule of Effe

INCOME TAXES - Schedule of Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Contingency [Line Items]
U.S. federal income tax rate	21%	21%	21%
Total international tax rate differential	0.20%	(5.50%)	(0.30%)
Net tax on GILTI and FDII	1.90%	2.80%	(1.00%)
International tax on certain current and prior year earnings	3.90%	0.20%	2%
Non-deductible acquisition related costs	0%	0.90%	0.10%
Non-deductible interest	5.30%	2.90%	0%
Research and development credit	(3.70%)	(5.00%)	(1.10%)
Capital losses	(5.40%)	(88.10%)	(0.60%)
State and local tax, net	(2.30%)	(4.00%)	0.20%
International permanent items	(7.50%)	12.10%	0.20%
Net impact of uncertain tax positions	(5.30%)	12.90%	1%
Changes in valuation allowances	3.60%	15.40%	2.60%
Other	0.90%	4.20%	1.40%
Effective income tax rate	12.60%	(30.20%)	25.50%
Asia
Income Tax Contingency [Line Items]
Total international tax rate differential	0.90%	1.10%	0.40%
Europe
Income Tax Contingency [Line Items]
Total international tax rate differential	(5.20%)	(12.40%)	(1.80%)
North and South America
Income Tax Contingency [Line Items]
Total international tax rate differential	4.50%	5.90%	1.10%

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Contingency [Line Items]
Net tax benefit of federal and state capital loss, percent	12.60%	(30.20%)	25.50%
U.S. federal income tax rate	21%	21%	21%
Tax impairments of investments in affiliates	7.50%
Net tax benefit of federal and state capital loss, percent	5.40%	88.10%	0.60%
Net impact of uncertain tax positions	(5.30%)	12.90%	1%
Reduction of tax rate of research and development	3.70%	5%	1.10%
Non-deductible interest	5.30%	2.90%	0%
International tax on certain current and prior year earnings	3.90%	0.20%	2%
Changes in valuation allowances	3.60%	15.40%	2.60%
Total international tax rate differential	(0.20%)	5.50%	0.30%
State and local tax, net	2.30%	4%	(0.20%)
International permanent items	(7.50%)	12.10%	0.20%
Tax effect of non-deductible foreign interest		2.90%
Provision for income taxes on undistributed earnings of non-United States subsidiaries	$ 0
Undistributed earnings of non-United States subsidiaries	89,800,000
Deferred income taxes on taxable outside basis	0
Liability for repatriation of foreign earnings	9,200,000	$ 7,400,000
Income tax payments	156,400,000	109,700,000	$ 102,100,000
Income tax refunds	5,200,000	29,400,000	$ 12,600,000
Income tax penalties and interest accrued	2,500,000	$ 1,500,000
Income tax expense if unrecognized tax benefits were recognized	16,300,000
2024 - 2040 or Indefinite | Foreign jurisdictions
Income Tax Contingency [Line Items]
Operating loss carryforward	270,700,000
2024 - 2037 or Indefinite | Federal and state
Income Tax Contingency [Line Items]
Operating loss carryforward	$ 23,600,000

INCOME TAXES - Schedule of Comp

INCOME TAXES - Schedule of Components of Deferred Tax Liabilities and Assets (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
Employment costs	$ 21.4	$ 21
Environmental accruals	38.5	29.2
Net operating loss carryforwards	66	54.3
Operating leases	7.8	11.8
Research and development	45.8	39.2
Capitalized and carryforward interest	48.7	18.2
Financial Derivatives	48.3	16.7
Other, net	52.2	54.4
Gross deferred tax assets	328.7	244.8
Valuation allowances	(39.6)	(35.3)
Total deferred tax assets, net of valuation allowances	289.1	209.5
Deferred tax liabilities:
Property, plant and equipment	(101.3)	(117.4)
Goodwill and intangibles	(351.2)	(337.3)
Operating leases	(7.6)	(12)
Other, net	(18.3)	(11.7)
Total deferred tax liabilities	(478.4)	(478.4)
Net deferred tax (liabilities) assets	(189.3)	(268.9)
Consolidated Balance Sheets:
Non-current deferred income tax liabilities	(281.6)	(342.5)
Deferred Tax Liabilities Noncurrent
Consolidated Balance Sheets:
Non-current deferred income tax assets	92.3	73.6
Non-current deferred income tax liabilities	$ (281.6)	$ (342.5)

INCOME TAXES - Schedule of Chan

INCOME TAXES - Schedule of Changes in Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance as of January 1,	$ 25.4	$ 19.8	$ 9.5
Increases as a result of positions taken during current year	1.9	10.6	5.9
Increases as a result of positions taken for prior years	0.4	0.4	0.2
Balance related to acquired businesses	0	0	5.4
Reductions for tax positions of prior years	(10.7)	(4.3)	0
Decreases as a result of lapse of statute of limitations	(0.6)	(0.6)	(1.5)
Other, net	0.5	(0.5)	0.3
Balance as of December 31,	$ 16.9	$ 25.4	$ 19.8

SHARE-BASED COMPENSATION - Narr

SHARE-BASED COMPENSATION - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	May 31, 2023	May 31, 2020
Share-Based Compensation Arrangement By Share-based Payment Award [Line Items]
Shares reserved for grant (in shares)				2,500,000	2,500,000
Stock appreciation rights
Share-Based Compensation Arrangement By Share-based Payment Award [Line Items]
SARs granted (in shares)	500,000	400,000	500,000
Vesting period	3 years
SARs granted appreciation cap percentage	200%	200%	200%
Stock awards expiration	10 years
Forfeitures percentage	3%
Intrinsic value of SARS exercised	$ 0.7	$ 2.4	$ 22.9
Unrecognized compensation cost	$ 3.7
Weighted average award vesting period	23 months
Nonvested, balance (in shares)	2,500,000	2,200,000
Weighted-average grant date fair value (in usd per share)	$ 40.18	$ 39.08
Stock appreciation rights | Vests Rateably over 3 Years
Share-Based Compensation Arrangement By Share-based Payment Award [Line Items]
Award vesting percentage	33.33%
Restricted stock units
Share-Based Compensation Arrangement By Share-based Payment Award [Line Items]
Vesting period	27 months
Contingent right to receive shares (in shares)	1
Unrecognized compensation cost	$ 12.1
RSUs granted (in shares)	300,000	200,000	200,000
RSUs vested (in shares)	300,000
Nonvested, balance (in shares)	600,000
Weighted-average grant date fair value (in usd per share)	$ 42.92

SHARE-BASED COMPENSATION- Sched

SHARE-BASED COMPENSATION- Schedule of Compensation Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-Based Compensation Arrangement By Share-based Payment Award [Line Items]
Total share-based compensation	$ 13.2	$ 13.2	$ 11.2
Stock appreciation rights
Share-Based Compensation Arrangement By Share-based Payment Award [Line Items]
Total share-based compensation	6.1	5.9	5.2
Performance shares
Share-Based Compensation Arrangement By Share-based Payment Award [Line Items]
Total share-based compensation	0.2	0.2	0.2
Restricted stock units
Share-Based Compensation Arrangement By Share-based Payment Award [Line Items]
Total share-based compensation	$ 6.9	$ 7.1	$ 5.8

SHARE-BASED COMPENSATION -Sched

SHARE-BASED COMPENSATION -Schedule of Assumptions Related to Grants (Details) - Stock appreciation rights - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-Based Compensation Arrangement By Share-based Payment Award [Line Items]
Expected volatility	35%	33%	34%
Expected dividends	2.30%	1.80%	2.01%
Expected term	6 years 4 months 24 days	6 years 10 months 24 days	6 years 10 months 24 days
Risk-free rate	3.82%	1.98%	1.19%
Value of SARs granted (in usd per share)	$ 13.28	$ 14.91	$ 11.72

SHARE-BASED COMPENSATION - Sche

SHARE-BASED COMPENSATION - Schedule of Stock Appreciation Rights (Details) - Stock Appreciation Rights - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Shares
Shares outstanding, beginning balance (in shares)	2.2
Granted (in shares)	0.5	0.4	0.5
Exercised (in shares)	(0.1)
Forfeited or expired (in shares)	(0.1)
Shares outstanding, ending balance (in shares)	2.5	2.2
Outstanding, vested and exercisable (in shares)	1.5
Weighted-Average Exercise Price per Share
Outstanding beginning balance (in usd per share)	$ 39.08
Granted (in usd per share)	42.93
Exercised (in usd per share)	28.35
Forfeited or expired (in usd per share)	36.88
Outstanding, ending balance (in usd per share)	40.18	$ 39.08
Vested and exercisable (in usd per share)	$ 35.71
Weighted-Average Remaining Contractual Term And Aggregate Intrinsic Value
Outstanding, weighted average remaining contractual term	6 years 7 months 6 days	6 years 9 months 18 days
Vested and exercisable weighted average remaining contractual term	5 years 2 months 12 days
Aggregate Intrinsic value	$ 9.2	$ 2.6
Vested and exercisable, aggregate intrinsic value	$ 9.2

SEGMENT INFORMATION - Narrative

SEGMENT INFORMATION - Narrative (Details)	12 Months Ended
	Dec. 31, 2023 segment
Segment Reporting [Abstract]
Number of reportable segments	2

SEGMENT INFORMATION- Schedule o

SEGMENT INFORMATION- Schedule of Segment Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Total Sales	$ 3,142.8	$ 3,396.9	$ 3,315.5
Operating Income	196.8	243.3	279.7
Depreciation and Amortization	186.9	157.6	144.2
Continuing Operations
Segment Reporting Information [Line Items]
Total Sales	3,142.8	3,396.9	3,315.5
Operating Income	196.8	243.3	279.7
Depreciation and Amortization	188.8	162.5	145.1
Capital Expenditures	119.4	105.1	99.8
Corporate | Continuing Operations
Segment Reporting Information [Line Items]
Total Sales	(2.8)	(2.5)	2.3
Operating Income	(205.6)	(197.8)	(148.9)
Depreciation and Amortization	9	12.5	7.7
Capital Expenditures	47.9	26.4	32.9
Color, Additives and Inks | Operating Segments | Continuing Operations
Segment Reporting Information [Line Items]
Total Sales	2,007.4	2,355	2,401.6
Operating Income	259.9	301	303.1
Depreciation and Amortization	98.3	101.3	105.7
Capital Expenditures	21.4	41.3	40.5
Specialty Engineered Materials | Operating Segments | Continuing Operations
Segment Reporting Information [Line Items]
Total Sales	1,138.2	1,044.4	911.6
Operating Income	142.5	140.1	125.5
Depreciation and Amortization	81.5	48.7	31.7
Capital Expenditures	$ 50.1	$ 37.4	$ 26.4

SEGMENT INFORMATION - Schedule

SEGMENT INFORMATION - Schedule of Revenue and Long-Lived Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Total Sales	$ 3,142.8	$ 3,396.9	$ 3,315.5
Total Assets	5,968.5	6,085
Total Long-lived Assets	1,028.9	1,049.2
Corporate
Segment Reporting Information [Line Items]
Total Assets	778.7	855.4
Color, Additives and Inks | Operating Segments
Segment Reporting Information [Line Items]
Total Assets	2,657.2	2,703.1
Specialty Engineered Materials | Operating Segments
Segment Reporting Information [Line Items]
Total Assets	2,532.6	2,526.5
United States and Canada
Segment Reporting Information [Line Items]
Total Sales	1,271.2	1,372.9	1,262.3
Total Long-lived Assets	506.4	513.4
Latin America
Segment Reporting Information [Line Items]
Total Sales	167.5	180.1	158.5
Total Long-lived Assets	29.4	26.5
Europe
Segment Reporting Information [Line Items]
Total Sales	1,151.9	1,213.1	1,195.7
Total Long-lived Assets	284.2	272.2
Asia
Segment Reporting Information [Line Items]
Total Sales	552.2	630.8	$ 699
Total Long-lived Assets	$ 208.9	$ 237.1

DERIVATIVES AND HEDGING - Narra

DERIVATIVES AND HEDGING - Narrative (Details) € in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2023 EUR (€)	Apr. 20, 2022 EUR (€)
Derivative [Line Items]
Cash payment		$ 38.8
Cross Currency Swaps
Derivative [Line Items]
Notional amount | €				€ 900
Cross Currency Swaps | Net Investment Hedging
Derivative [Line Items]
Cash proceeds received from settlement		132.1
Gain (loss) in recognized within translation adjustments in AOCI	$ (96.1)	21.6
Cross Currency Swaps | Net Investment Hedging | Interest Expense, Net
Derivative [Line Items]
Conversion gains	$ 38.8	30.3
Foreign Exchange Forward
Derivative [Line Items]
Notional amount | €				€ 350
Expense recognized within other income, net		$ 37.3
May 2025 | Cross Currency Swaps | Net Investment Hedging
Derivative [Line Items]
Notional amount | €			€ 1,467.2
August 2027 | Cross Currency Swaps | Net Investment Hedging
Derivative [Line Items]
Notional amount | €			€ 900

DERIVATIVES AND HEDGING - Sched

DERIVATIVES AND HEDGING - Schedule of Fair Value of Derivatives (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Net Investment Hedging | Cross Currency Swaps | Designated as Hedging Instrument | Other non-current liabilities
Derivatives, Fair Value [Line Items]
Liabilities	$ 199.1	$ 68.6