| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Sales | ||||||||||
2,862 | 2,881 | 2,590 | 2,938 | 2,928 | 3,835 | 3,771 | 2,860 | 2,709 | 2,506 | 2,060 |
Cost of sales | ||||||||||
2,205 | 2,256 | 1,993 | 2,262 | 2,277 | 3,127 | 3,109 | 2,329 | 2,280 | 2,096 | 1,736 |
Gross margin | ||||||||||
657 | 624 | 596 | 676 | 651 | 707 | 662 | 531 | 429 | 410 | 323 |
Selling and administrative expense | ||||||||||
500 | 446 | 423 | 408 | 393 | 552 | 457 | 417 | 378 | 292 | 216 |
Impairment of goodwill | ||||||||||
- | - | - | - | - | - | - | - | - | - | 5 |
Income related to previously owned equity affiliates | ||||||||||
- | - | - | - | - | - | 26 | 23 | 152 | 42 | 35 |
Operating income | ||||||||||
156 | 178 | 173 | 267 | 257 | 155 | 231 | 137 | 203 | 159 | 137 |
Interest expense, net | ||||||||||
-59 | -62 | -60 | -59 | 64 | 62 | 63 | 50 | 33 | 31 | 34 |
Debt extinguishment costs | ||||||||||
0 | -1 | -0 | -0 | -16 | 0 | -15 | 0 | -0 | -29 | - |
Other income, net | ||||||||||
12 | -12 | -0 | 19 | -3 | -4 | -1 | -3 | 0 | -2 | -9 |
Income from continuing operations before income taxes | ||||||||||
109 | 101 | 111 | 226 | 174 | 88 | 151 | 83 | 168 | 95 | 93 |
Income tax expense | ||||||||||
33 | 14 | 0 | 60 | 25 | 11 | 58 | 30 | 15 | 56 | -13 |
Net income from continuing operations | ||||||||||
75 | 87 | 111 | 166 | 148 | 77 | 92 | 53 | 153 | 152 | - |
(Loss) income from discontinued operations, net of income taxes | ||||||||||
513 | 72 | -168 | -1 | -3 | 1 | 149 | 18 | 19 | 10 | - |
Net income | ||||||||||
588 | 159 | -57 | 165 | 144 | 78 | 242 | 71 | 172 | 162 | - |
Net income attributable to noncontrolling interests | ||||||||||
0 | -0 | 0 | -0 | 0 | -0 | -1 | -0 | 0 | 0 | - |
Net income attributable to PolyOne common shareholders | ||||||||||
588 | 159 | -57 | 165 | 144 | 79 | 243 | 71 | 172 | 162 | 106 |
Earnings per share attributable to PolyOne common shareholders - Basic: | ||||||||||
Continuing operations (in USD per share) | ||||||||||
0.98 | 1.10 | 1.36 | 1.98 | 1.69 | 0.85 | 0.98 | 0.60 | 1.66 | 1.64 | - |
Discontinued operations (in USD per share) | ||||||||||
6.64 | 0.91 | -2.07 | -0.01 | -0.04 | 0.01 | 1.57 | 0.21 | 0.21 | 0.11 | - |
Total (in USD per share) | ||||||||||
7.62 | 2.01 | -0.71 | 1.97 | 1.65 | 0.86 | 2.55 | 0.81 | 1.87 | 1.75 | 1.15 |
Earnings per share attributable to PolyOne common shareholders - Diluted: | ||||||||||
Continuing operations (in USD per share) | ||||||||||
0.97 | 1.09 | 1.35 | 1.96 | 1.67 | 0.83 | 0.97 | 0.59 | 1.63 | 1.59 | - |
Discontinued operations (in USD per share) | ||||||||||
6.61 | 0.90 | -2.05 | -0.01 | -0.04 | 0.02 | 1.56 | 0.21 | 0.21 | 0.10 | - |
Total (in USD per share) | ||||||||||
7.58 | 1.99 | -0.70 | 1.95 | 1.63 | 0.85 | 2.53 | 0.80 | 1.84 | 1.69 | 1.14 |
Weighted-average shares used to compute earnings per common share: | ||||||||||
Basic (in shares) | ||||||||||
77 | 79 | 81 | 83 | 87 | 92 | 95 | 89 | 92 | 93 | 92 |
Plus dilutive impact of share-based compensation (in shares) | ||||||||||
0 | 0 | 0 | 0 | 0 | - | - | - | - | - | - |
Diluted (in shares) | ||||||||||
77 | 80 | 82 | 84 | 88 | 93 | 96 | 89 | 94 | 96 | 93 |
Anti-dilutive shares not included in diluted common shares outstanding (in shares) | ||||||||||
0 | 0 | 0 | 0 | 0 | - | - | - | - | - | - |
Cash dividends declared per share of common stock (in USD per share) | ||||||||||
0.78 | 0.72 | 0.58 | 0.49 | 0.42 | 0.34 | 0.26 | 0.20 | 0.16 | 0.00 | - |