$AVNT
AVIENT CORP

2016 Q3 Form 10-Q Financial Statement

#000112297616000047 Filed on October 26, 2016

View on sec.gov

Income Statement

Concept 2016 Q3 2015 Q3
Revenue $746.7M $841.6M
YoY Change -11.28% -12.19%
Cost Of Revenue $580.6M $672.5M
YoY Change -13.67% -13.32%
Gross Profit $166.1M $169.1M
YoY Change -1.77% -7.39%
Gross Profit Margin 22.24% 20.09%
Selling, General & Admin $94.10M $99.90M
YoY Change -5.81% -16.05%
% of Gross Profit 56.65% 59.08%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $25.50M $23.70M
YoY Change 7.59% -11.24%
% of Gross Profit 15.35% 14.02%
Operating Expenses $94.10M $99.90M
YoY Change -5.81% -16.05%
Operating Profit $72.00M $69.20M
YoY Change 4.05% 8.81%
Interest Expense -$15.10M $16.20M
YoY Change -193.21% 5.19%
% of Operating Profit -20.97% 23.41%
Other Income/Expense, Net -$100.0K -$1.600M
YoY Change -93.75% -11.11%
Pretax Income $56.80M $51.40M
YoY Change 10.51% 10.78%
Income Tax $14.00M $6.900M
% Of Pretax Income 24.65% 13.42%
Net Earnings $42.30M $44.50M
YoY Change -4.94% 36.09%
Net Earnings / Revenue 5.66% 5.29%
Basic Earnings Per Share $0.50 $0.51
Diluted Earnings Per Share $0.50 $0.50
COMMON SHARES
Basic Shares Outstanding 83.90M shares 87.50M shares
Diluted Shares Outstanding 84.50M shares 88.40M shares

Balance Sheet

Concept 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $212.2M $235.7M
YoY Change -9.97% -10.58%
Cash & Equivalents $212.2M $235.7M
Short-Term Investments
Other Short-Term Assets $45.50M $82.80M
YoY Change -45.05% -6.65%
Inventory $325.6M $285.9M
Prepaid Expenses
Receivables $418.3M $407.3M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.002B $1.012B
YoY Change -1.0% -9.42%
LONG-TERM ASSETS
Property, Plant & Equipment $605.0M $574.5M
YoY Change 5.31% -3.54%
Goodwill $672.9M $591.0M
YoY Change 13.86% 3.98%
Intangibles $370.2M $345.9M
YoY Change 7.03% -1.11%
Long-Term Investments
YoY Change
Other Assets $100.1M $114.3M
YoY Change -12.42% -8.63%
Total Long-Term Assets $1.748B $1.626B
YoY Change 7.54% -0.81%
TOTAL ASSETS
Total Short-Term Assets $1.002B $1.012B
Total Long-Term Assets $1.748B $1.626B
Total Assets $2.750B $2.637B
YoY Change 4.26% -4.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $383.4M $374.6M
YoY Change 2.35% -8.19%
Accrued Expenses $124.8M $125.2M
YoY Change -0.32% -18.6%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $19.30M $61.80M
YoY Change -68.77% 371.76%
Total Short-Term Liabilities $527.5M $561.6M
YoY Change -6.07% -2.31%
LONG-TERM LIABILITIES
Long-Term Debt $1.240B $1.038B
YoY Change 19.48% 7.48%
Other Long-Term Liabilities $146.7M $150.8M
YoY Change -2.72% -16.59%
Total Long-Term Liabilities $1.466B $1.327B
YoY Change 10.49% 1.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $527.5M $561.6M
Total Long-Term Liabilities $1.466B $1.327B
Total Liabilities $1.994B $1.888B
YoY Change 5.57% 0.03%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $755.4M $747.9M
YoY Change
Total Liabilities & Shareholders Equity $2.750B $2.637B
YoY Change 4.26% -4.3%

Cashflow Statement

Concept 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income $42.30M $44.50M
YoY Change -4.94% 36.09%
Depreciation, Depletion And Amortization $25.50M $23.70M
YoY Change 7.59% -11.24%
Cash From Operating Activities $77.90M $68.70M
YoY Change 13.39% -21.93%
INVESTING ACTIVITIES
Capital Expenditures -$18.40M -$22.50M
YoY Change -18.22% -0.88%
Acquisitions
YoY Change
Other Investing Activities -$84.70M $0.00
YoY Change -100.0%
Cash From Investing Activities -$103.1M -$22.50M
YoY Change 358.22% 3.21%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 76.00M -42.20M
YoY Change -280.09% -31.05%
NET CHANGE
Cash From Operating Activities 77.90M 68.70M
Cash From Investing Activities -103.1M -22.50M
Cash From Financing Activities 76.00M -42.20M
Net Change In Cash 50.80M 4.000M
YoY Change 1170.0% -20.0%
FREE CASH FLOW
Cash From Operating Activities $77.90M $68.70M
Capital Expenditures -$18.40M -$22.50M
Free Cash Flow $96.30M $91.20M
YoY Change 5.59% -17.62%

Facts In Submission

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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Nonoperating Income Expense
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us-gaap Number Of Reportable Segments
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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
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0 USD
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200000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
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200000 USD
CY2015Q4 us-gaap Other Liabilities Noncurrent
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CY2016Q3 us-gaap Other Liabilities Noncurrent
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments Of Dividends
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us-gaap Payments Of Financing Costs
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us-gaap Payments Of Financing Costs
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us-gaap Payments To Acquire Businesses Gross
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0 USD
us-gaap Payments To Acquire Businesses Gross
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158300000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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61600000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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CY2015Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
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CY2016Q3 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
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us-gaap Proceeds From Issuance Of Long Term Debt
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44500000 USD
us-gaap Profit Loss
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us-gaap Repayments Of Long Term Debt
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0 USD
us-gaap Repayments Of Long Term Debt
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4400000 USD
CY2015Q3 us-gaap Restructuring Charges
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13700000 USD
us-gaap Restructuring Charges
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us-gaap Restructuring Charges
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16500000 USD
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16100000 USD
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4600000 USD
us-gaap Restructuring Reserve Accelerated Depreciation
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4600000 USD
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us-gaap Sales Revenue Goods Net
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us-gaap Sales Revenue Goods Net
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us-gaap Selling General And Administrative Expense
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us-gaap Selling General And Administrative Expense
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us-gaap Share Based Compensation
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6000000 USD
us-gaap Share Based Compensation
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6500000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
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2200000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
3600000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
704200000 USD
CY2016Q3 us-gaap Stockholders Equity
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755400000 USD
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CY2015Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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749000000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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705200000 USD
CY2016Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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756300000 USD
us-gaap Treasury Stock Value Acquired Cost Method
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121500000 USD
us-gaap Treasury Stock Value Acquired Cost Method
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50700000 USD
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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89400000 shares
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
84500000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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84800000 shares
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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87500000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
88500000 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
83900000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
84200000 shares

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