Company: PRMB
Filing Date: 2025-02-07
Form Type: S-1/A
Source: 0001193125-25-022806
Chunk: 113

Company: Primo Brands Corp
Filing Date: 2025-02-07
Form: S-1/A
Chunk 113
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 charges, and the completion of the headcount reduction and restructuring program during fiscal year 2021, with some carry over into fiscal year 2022.

Other Operating Expenses (Income), Net

Other operating expenses, net, during the year ended December 31, 2022 were $0.1 million compared to income of $2.3 million for
the 2021 Successor Period and net expenses of $50.8 million for the 2021 Predecessor Period, which changed primarily due to numerous one-time charges including $27.1 million from the write-off of an investment and transaction-related bonuses.

Gain on Extinguishment of Debt

During the year ended December 31, 2022, BlueTriton paid $47.0 million to repurchase $57.0 million in face value of BlueTriton
Senior Notes, resulting in recorded gains of $8.7 million on extinguishment of debt, net of write-off of $1.3 million of capitalized debt issuance costs. BlueTriton did not record any gain on
extinguishment of debt for the 2021 Successor Period or 2021 Predecessor Period.

Interest and Financing Expense, Net

During the year ended December 31, 2022, interest and financing expense, net, was $211.8 million compared to $125.3 million for
the 2021 Successor Period and $0.1 million for the 2021 Predecessor Period, which change was primarily related to a full year of interest, the greater average outstanding debt and, most significantly, an increase in the variable interest rate
on the BlueTriton Term Loan Facility from 4.00% to 7.17%.

Benefit from Income Tax

During the year ended December 31, 2022, the income tax benefit was $53.1 million compared to $41.2 million for the 2021
Successor Period and $51.4 million for the 2021 Predecessor Period, which change was primarily related to a lower loss before taxes in 2022 compared to the period year periods, partially offset by permanent differences related to transaction
costs in the prior periods.

Net Loss

The net loss for the year ended December 31, 2022 was $126.7 million, an improvement of $183.0 million as compared to
$309.7 million for the combined 2021 Successor Period and 2021 Predecessor