Company: PRMB
Filing Date: 2025-02-07
Form Type: S-1/A
Source: 0001193125-25-022806
Chunk: 352

Company: Primo Brands Corp
Filing Date: 2025-02-07
Form: S-1/A
Chunk 352
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 and accrued liabilities in the Consolidated Balance Sheets. This methodology is consistent with the manner in which the Company historically estimated and
recorded promotional programs and discounts. Accrued sales incentives were $7.7 million and $6.2 million as of December 30, 2023 and December 31, 2022, respectively.

We do not disclose the value of unsatisfied performance obligations for contracts (i) with an original expected length of one year or
less or (ii) for which the Company recognizes revenue at the amount in which it has the right to invoice as the product is delivered.

Contract Balances

Contract liabilities relate primarily to advances received from the Company’s customers before revenue is recognized.
These amounts are recorded as deferred revenue and are included in Accounts payable and accrued liabilities in the Consolidated Balance Sheets. The advances are expected to be earned as revenue within one year of receipt. Deferred revenues as of
December 30, 2023 and December 31, 2022 were $5.2 million and $5.2 million, respectively. The amount of revenue recognized for the year ended December 30, 2023 that was included in the deferred revenue balance as of
December 31, 2022 was $5.2 million.

The Company does not have any material contract assets as of December 30, 2023 and
December 31, 2022.

F-89

Disaggregated Revenue In general, the Company’s business segmentation is aligned according to the nature and economic characteristics of its products and customer relationships and provides meaningful disaggregation of each business segment’s results of operations. Further disaggregation of net revenue to external customers by geographic area based on customer location is as follows:

|                     | (in millions of U.S. dollars) | For the Fiscal Year Ended | December 30, 
         2023 |     |   | December 31, 
         2022 |     |   | January 1, 
       2022 |
|:--------------------|:------------------------------|:--------------------------|-------------:|:----|:--|-------------:|:----|:--|-----------:|
| United States       |                               | $                         |      1,706.2 |     | $ |      1,620.0 |     | $ |    1,493.0 |
| Canada              |                               |                           |         65.6 |     |   |         65.8 |     |   |