Avient Corp Files 10-K for Fiscal Year Ended December 31, 2023

TL;DR

<b>Avient Corp has filed its 2023 10-K report detailing its financial performance and business operations.</b>

AI Summary

AVIENT CORP (AVNT) filed a Annual Report (10-K) with the SEC on February 20, 2024. Avient Corp filed its annual 10-K report for the fiscal year ending December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal executive offices are located at 33587 Walker Road, Avon Lake, OH 44012. Avient Corp was formerly known as PolyOne Corp, with a name change effective August 30, 2000. The SIC code for Avient Corp is 2821, related to Plastics, Materials, Synthetic Resins & Nonvulcan Elastomers.

Why It Matters

For investors and stakeholders tracking AVIENT CORP, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Avient Corp's financial health and strategic direction for the past fiscal year, crucial for investors assessing its performance. Understanding the details within this report allows stakeholders to evaluate the company's market position, operational efficiency, and potential risks and opportunities moving forward.

Risk Assessment

Risk Level: — AVIENT CORP shows moderate risk based on this filing. The filing is a standard 10-K, which is a comprehensive annual report. While it contains detailed financial information, it does not inherently signal immediate positive or negative trends without further analysis of the specific numbers and disclosures.

Analyst Insight

Review the detailed financial statements and management discussion within the 10-K to identify key performance indicators, revenue trends, and any disclosed risks or strategic initiatives.

Key Numbers

• 2023-12-31 — Fiscal Year End (The end date of the reporting period)
• 2024-02-20 — Filing Date (The date the 10-K was filed with the SEC)
• 2000-08-30 — Name Change Date (Date Avient Corp changed from PolyOne Corp)

Key Players & Entities

• AVIENT CORP (company) — Filer of the 10-K report
• POLYONE CORP (company) — Former name of Avient Corp
• 2023-12-31 (date) — Fiscal year end date
• 2024-02-20 (date) — Filing date
• 33587 Walker Road, Avon Lake, OH 44012 (address) — Business and mailing address
• 2821 (industry_code) — Standard Industrial Classification code

FAQ

Industry Context

Avient Corp operates in the plastics and materials industry, specifically focusing on polymer solutions, colorants, and additives.

Regulatory Implications

The filing is made in accordance with the Securities Exchange Act of 1934, requiring public companies to submit detailed financial and operational information annually.

What Investors Should Do

1. Analyze Avient Corp's revenue and profitability trends from the financial statements.
2. Identify any significant changes in the company's business segments or operations.
3. Review the risk factors section for potential challenges and management's mitigation strategies.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-02-20: Filing Date — The date the 10-K was officially submitted to the SEC.

Glossary

10-K

An annual report required by the U.S. Securities and Exchange Commission (SEC), which gives a comprehensive summary of a company's financial performance. (This is the primary document for investors to understand a company's financial health and operations over the past year.)

SIC Code

Standard Industrial Classification code, a four-digit code used to classify industries. (Helps categorize Avient Corp within the broader manufacturing and materials sector.)

Year-Over-Year Comparison

This is the initial filing of the 10-K for the fiscal year 2023. Previous filings would be for prior fiscal years.

Key Financial Figures

• $40 — per share closing price on that date of $40.90, as quoted on the New York Stock Exc
• $3.1 b — had sales from continuing operations of $3.1 billion, approximately 61% of which were
• $90.3 million — in product research and development was $90.3 million in 2023, $84.9 million in 2022, and $83
• $84.9 million — development was $90.3 million in 2023, $84.9 million in 2022, and $83.2 million in 2021. Me
• $83.2 million — ion in 2023, $84.9 million in 2022, and $83.2 million in 2021. Methods of Distribution We s
• $1.5 million — sly gave over 7,000 volunteer hours and $1.5 million in donations around the world. A Great

Filing Documents

• avnt-20231231.htm (10-K) — 2031KB
• avnt-ex1019_20231231.htm (EX-10.19) — 18KB
• avnt-ex1029_20231231.htm (EX-10.29) — 120KB
• avnt-ex211_20231231.htm (EX-21.1) — 106KB
• avnt-ex231_20231231.htm (EX-23.1) — 12KB
• avnt-ex311_20231231.htm (EX-31.1) — 8KB
• avnt-ex312_20231231.htm (EX-31.2) — 8KB
• avnt-ex321_20231231.htm (EX-32.1) — 5KB
• avnt-ex322_20231231.htm (EX-32.2) — 5KB
• avnt-ex971_20231231.htm (EX-97.1) — 21KB
• image_0a.jpg (GRAPHIC) — 19KB
• 0001122976-24-000019.txt (&nbsp;) — 12190KB
• avnt-20231231.xsd (EX-101.SCH) — 79KB
• avnt-20231231_cal.xml (EX-101.CAL) — 160KB
• avnt-20231231_def.xml (EX-101.DEF) — 401KB
• avnt-20231231_lab.xml (EX-101.LAB) — 986KB
• avnt-20231231_pre.xml (EX-101.PRE) — 664KB
• avnt-20231231_htm.xml (XML) — 2085KB

BUSINESS

ITEM 1. BUSINESS Business Overview 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. When used in this Annual Report on Form 10-K, the terms "we," "us," "our," "Avient" and the "Company" mean Avient Corporation and its consolidated subsidiaries. Avient was formed as PolyOne Corporation on August 31, 2000 from the consolidation of The Geon Company (Geon) and M.A. Hanna Company (Hanna). Through a series of acquisitions and divestitures, the Company has transformed into a premier specialty formulator. Effective June 30, 2020, the Company amended its existing Articles of Incorporation to change its name to Avient Corporation and changed its ticker symbol from "POL" to "AVNT", effective at the start of trading on July 13, 2020. Avient Corporation is incorporated in Ohio and headquartered in Avon Lake, Ohio. We currently have 102 manufacturing sites in North America, South America, Europe, the Middle East, Asia, and Africa (EMEA). In 2023, the Company had sales from continuing operations of $3.1 billion, approximately 61% of which were to customers outside the United States. Using our formulation expertise and operational capabilities, we create an essential link between large chemical producers (our raw material suppliers) and designers, assemblers and processors of plastics (our customers). We believe that our role in the value chain continues to become more vital as our customers increasingly need reliable suppliers with a global reach and increasingly effective materials-based solutions to improve their products' sustainability appeal, performance, different