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SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
SEGMENT INFORMATION
Note 14 — SEGMENT INFORMATION
Operating segments are components of the Company about which separate financial information is available and evaluated on a regular basis by the chief operating decision maker (CODM), which is the Company's chief executive officer, for the purpose of allocating resources and assessing performance. The Company's primary segment performance measure is operating income. Operating income at the segment level does not include corporate general and administrative expenses that are not allocated to segments, restructuring charges, environmental remediation obligations and associated recoveries, acquisition-related charges, mark-to-market adjustments on pension and other post-retirement obligations, 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, 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 innovator 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 innovator of specialty polymer materials, 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, 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 in a variety of markets, including defense, consumer, industrial, transportation, energy, building and construction and healthcare. 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.
Financial information by reportable segment is as follows:
(In millions)

Year Ended December 31, 2024
Color, Additives and InksSpecialty Engineered MaterialsCorporateConsolidated
Total
Sales$2,046.5 $1,196.8 $(2.9)$3,240.4 
Cost of sales1,365.4 821.9 (3.6)2,183.7 
Selling and administrative expense384.9 207.7 134.8 727.4 
Operating income296.2 167.2 (134.1)329.3 
Interest expense, net(105.6)
Other income1.1 
Income from continuing operations before income taxes$224.8 
Other disclosures:
Depreciation and amortization$87.5 $82.1 $10.1 $179.7 
Capital expenditures33.6 48.7 39.6 121.9 
Total assets2,574.2 2,452.3 784.6 5,811.1 


Year Ended December 31, 2023
Color, Additives and InksSpecialty Engineered MaterialsCorporateConsolidated
Total
Sales$2,007.4 $1,138.2 $(2.8)$3,142.8 
Cost of sales1,376.2 796.4 77.7 2,250.3 
Selling and administrative expense371.3 199.3 125.1 695.7 
Operating income259.9 142.5 (205.6)196.8 
Interest expense, net(115.3)
Other income5.8 
Income from continuing operations before income taxes$87.3 
Other disclosures:
Depreciation and amortization$98.3 $81.5 $9.0 $188.8 
Capital expenditures21.4 50.1 47.9 119.4 
Total assets2,657.2 2,532.6 778.7 5,968.5 


Year Ended December 31, 2022
Color, Additives and InksSpecialty Engineered MaterialsCorporateConsolidated
Total
Sales$2,355.0 $1,044.4 $(2.5)$3,396.9 
Cost of sales1,673.7 760.7 79.8 2,514.2 
Selling and administrative expense380.3 143.6 115.5 639.4 
Operating income301.0 140.1 (197.8)243.3 
Interest expense, net(119.8)
Other expense(59.7)
Income from continuing operations before income taxes$63.8 
Other disclosures:
Depreciation and amortization$101.3 $48.7 $12.5 $162.5 
Capital expenditures41.3 37.4 26.4 105.1 
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 property based on the geographic areas where the sales originated and where the assets are located, in addition to other relevant financial information by reportable segment:
(In millions)202420232022
Sales:
United States and Canada$1,336.3 $1,271.2 $1,372.9 
Latin America180.1 167.5 180.1 
EMEA1,154.2 1,151.9 1,213.1 
Asia 569.8 552.2 630.8 
Total Sales$3,240.4 $3,142.8 $3,396.9 
Property, net:
United States and Canada$449.8 $506.4 
Latin America25.4 29.4 
EMEA306.5 311.5 
Asia173.6 181.6 
Total Property, net$955.3 $1,028.9