SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report: April 28, 2011
(Exact Name of Registrant as Specified in Charter)
|(State or Other
||(Commission File No.)
PolyOne Center, 33587 Walker Rd.
Avon Lake, Ohio 44012
(Address of Principal Executive Offices) (Zip Code)
Registrants telephone number, including area code:
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy
the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
TABLE OF CONTENTS
Item 2.02 Results of Operations and Financial Condition.
PolyOne Corporation is changing its method of recognizing actuarial gains and losses for all of its
pension and other postretirement benefit plans. Historically, PolyOne recognized actuarial gains
and losses in Accumulated Other Comprehensive income within Shareholders Equity on its
consolidated balance sheets on an annual basis and amortized them into its operating results over
the average remaining life of the plan participants for the majority of its U.S. and foreign
benefit plans and over the remaining service period of plan participants for certain non-U.S.
benefit plans, to the extent such gains and losses were outside of a corridor. PolyOne has elected
to immediately recognize actuarial gains and losses, after consideration of inventory
capitalization, in its operating results in the year in which the gains and losses occur because it
is generally preferable to accelerate the recognition of deferred gains and losses into income
rather than to delay such recognition. This change will improve the transparency of PolyOnes
operating results by more quickly recognizing the effects of economic and interest rate trends on
plan obligations, investments and assumptions. These gains and losses are generally only measured
annually as of December 31 and, accordingly, will be recorded during the fourth quarter of each
The majority of PolyOnes net periodic benefit cost is captured within Corporate and eliminations
in its operating segments results. The impact associated with the accounting change is reflected
entirely within Corporate and eliminations. The annual recognition of actuarial gains and losses
will be reflected within Corporate and eliminations. This change in accounting principle was
elected by PolyOne during the first quarter of 2011, and is required to be reported through
retrospective application of historical results in future quarterly and annual reports filed with
the SEC to conform to current period presentation.
For informational purposes, included in Exhibit 99.1 to this Current Report on Form 8-K are
historical unaudited consolidated statements of operations adjusted to apply the new accounting
method retrospectively. This information shall not be deemed to be filed under the Securities
Exchange Act of 1934.
Item 9.01. Financial Statements and Exhibits.
||Diluted Earnings per Share, as Reported and as Adjusted, Consolidated Statements of
Operations, as Adjusted, and Reconciliation of Non-GAAP Financial Measures, as Adjusted.