Company: PRMB
Filing Date: 2025-01-24
Form Type: S-1
Source: 0001193125-25-012325
Chunk: 94

Company: Primo Brands Corp
Filing Date: 2025-01-24
Form: S-1
Chunk 94
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 an increase of
$6.0 million, or 150.0%, as compared to the three months ended September 30, 2023, primarily due to advisory and legal costs related to the merger with Primo Water of $7.8 million, which was consummated on November 8, 2024,
partially offset by $2.1 million lower of severance charges during 2024 when compared to 2023.

Other Operating Expenses (Income), Net

Other operating expenses (income), net, includes primarily foreign exchange, unrealized mark-to-market adjustments for commodity forwards, and other infrequent income or expenses.

For
the three months ended September 30, 2024, other operating expenses, net were $9.0 million, compared to income of $11.4 million for the three months ended September 30, 2023. The increase in expense was primarily due to a
$8.8 million unrealized loss on commodity forwards during the current period, compared to an unrealized gain of $11.5 million in the prior year.

Interest and Financing Expense, Net

Interest and financing expense, net, includes the interest expense on outstanding debt obligations, partially offset by the amount capitalized
as part of capital projects and interest income earned on cash and cash equivalents, including restricted cash.

For the three months
ended September 30, 2024, interest and financing expense, net was $85.7 million, an increase of $9.9 million, or 13.1%, as compared to the three months ended September 30, 2023, primarily attributable to the incurrence of an
incremental amount of $400.0 million in term loans, net of discount of

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$8.0 million, pursuant to the company’s entry into the 2024 Incremental Term Loans (as defined below) on March 1, 2024. Provision for Income Taxes For the three months ended September 30, 2024, provision for income taxes was $18.5 million, compared to $21.4 million for the three months ended September 30, 2023. The majority of BlueTriton’s taxable income was generated in the United States and was taxed at an effective tax rate of 25.8% for the three months ended September 30, 2024, mainly driven by the United States activity taxed at a federal and state statutory rate of 24.9%. Relative to the federal and state statutory rate