Company: PRMB
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-049952
Chunk: 49

Company: Primo Brands Corp
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 49
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.2)Current liabilities held for sale(88.0)—(88.0)Long-term debt, less current portion(1,223.1)1.8(1,221.3)Operating lease obligations, less current portion(127.6)(2.5)(130.1)Deferred income taxes(420.9)1.9(419.0)Other non-current liabilities(18.2)—(18.2)Non-current liabilities held for sale(36.1)—(36.1)Total identifiable net assets acquired$1,192.2$(12.8)$1,179.4Goodwill2,758.112.82,770.9Purchase price$3,950.3$—$3,950.3Measurement period adjustments recorded during the nine months ended September 30, 2025 include adjustments related to property, plant and equipment and intangible assets based on results of the preliminary valuations, adjustments to operating and financing lease right-of-use assets and obligations and inventory based on updated estimates used to calculate the acquisition date fair values, and adjustments to deferred income taxes as a result of the aforementioned items. The measurement period adjustments did not have a material effect on our results of operations in prior periods.

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Table of Contents

The assets and liabilities acquired in the Transaction are recorded at their estimated fair values per preliminary valuations and management estimates and are subject to change when formal valuations and other studies are finalized. Estimated fair values for deferred tax balances are preliminary and are also subject to change based on the final valuation results. In addition, consideration for potential loss contingencies are still under review.The Company recorded nil and $6.2 million of acquisition-related costs associated with the Transaction during the three and nine months ended September 30, 2025, respectively, and $7.7 million and $26.7 million of acquisition-related costs associated with the Transaction during the three and nine months ended September 30, 2024, respectively. These costs are included in Acquisition, integration and restructuring expenses in the Condensed Consolidated Statement of Operations.Intangible AssetsIn the Company's determination of the fair value of intangible assets, we consider, among other factors, the best use of acquired assets, analysis of historical financial performance and estimates of future performance of the acquired business’ products.The estimated fair values of identified intangible assets are calculated considering both market participant expectations, using an income approach, as well as estimates and assumptions provided by the Company's management.The estimated fair value of