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SEGMENT INFORMATION | 6 Months Ended
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Jun. 30, 2024
Segment Reporting [Abstract] |
SEGMENT INFORMATION | Note 9 — SEGMENT INFORMATION Avient has two reportable segments: (1) Color, Additives and Inks and (2) Specialty Engineered Materials. 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; costs incurred directly in relation to acquisitions or divestitures; integration 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 years; 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. Financial information by reportable segment is as follows:
|  |  | Three Months Ended June 30, 2024 |  |  |  | Three Months Ended June 30, 2023
(In millions) |  |  | Sales |  | Operating Income |  |  |  | Sales |  | Operating Income
Color, Additives and Inks |  |  | $ | 542.0 |  |  | $ | 86.1 |  |  |  |  | $ | 524.5 |  |  | $ | 68.0 |
Specialty Engineered Materials |  |  | 308.1 |  |  | 42.8 |  |  |  |  | 300.8 |  |  | 39.7 |
Corporate |  |  | (0.4) |  |  | (56.4) |  |  |  |  | (0.9) |  |  | (45.4) |
Total |  |  | $ | 849.7 |  |  | $ | 72.5 |  |  |  |  | $ | 824.4 |  |  | $ | 62.3 |
|  |  | Six Months Ended June 30, 2024 |  |  |  | Six Months Ended June 30, 2023
(In millions) |  |  | Sales |  | Operating Income |  |  |  | Sales |  | Operating Income
Color, Additives and Inks |  |  | $ | 1,057.3 |  |  | $ | 160.9 |  |  |  |  | $ | 1,061.5 |  |  | $ | 133.6 |
Specialty Engineered Materials |  |  | 622.5 |  |  | 96.2 |  |  |  |  | 610.5 |  |  | 82.8 |
Corporate |  |  | (1.1) |  |  | (90.6) |  |  |  |  | (1.9) |  |  | (97.0) |
Total |  |  | $ | 1,678.7 |  |  | $ | 166.5 |  |  |  |  | $ | 1,670.1 |  |  | $ | 119.4 |
| Total Assets
(In millions) | As of June 30, 2024 |  | As of December 31, 2023
Color, Additives and Inks | $ | 2,694.7 |  |  | $ | 2,657.2 |
Specialty Engineered Materials | 2,515.2 |  |  | 2,532.6 |
Corporate | 697.9 |  |  | 778.7 |
Total assets | $ | 5,907.8 |  |  | $ | 5,968.5 |

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- Definition The entire disclosure for reporting segments including data and tables. 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