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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 SalesOperating IncomeDepreciation and AmortizationCapital Expenditures
Color, Additives and Inks$2,007.4 $259.9 $98.3 $21.4 
Specialty Engineered Materials1,138.2 142.5 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 SalesOperating IncomeDepreciation and AmortizationCapital Expenditures
Color, Additives and Inks$2,355.0 $301.0 $101.3 $41.3 
Specialty Engineered Materials1,044.4 140.1 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 SalesOperating IncomeDepreciation and AmortizationCapital Expenditures
Color, Additives and Inks$2,401.6 $303.1 $105.7 $40.5 
Specialty Engineered Materials911.6 125.5 31.7 26.4 
Corporate2.3 (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)202320222021
Sales:
United States and Canada$1,271.2 $1,372.9 $1,262.3 
Latin America167.5 180.1 158.5 
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 Materials2,532.6 2,526.5 
Corporate778.7 855.4 
Total Assets$5,968.5 $6,085.0 
2023
2022
Property, net:
United States and Canada$506.4 $513.4 
Latin America29.4 26.5 
Europe 284.2 272.2 
Asia 208.9 237.1 
Total Long-lived Assets$1,028.9 $1,049.2