Company: PRMB
Filing Date: 2025-02-07
Form Type: S-1/A
Source: 0001193125-25-022806
Chunk: 292

Company: Primo Brands Corp
Filing Date: 2025-02-07
Form: S-1/A
Chunk 292
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 Leasehold improvements                                        |     |              |    48.2 |   |     |   |    56.9 |   |
| Land                                                          |     |              |    76.8 |   |     |   |    76.4 |   |
| Vehicles                                                      |     |              |    72.2 |   |     |   |    26.4 |   |
| Less: accumulated depreciation                                |     |              |  (766.4 | ) |     |   |  (536.1 | ) |
| Property and equipment, net                                   |     | $            | 1,609.2 |   |     | $ | 1,629.1 |   |

Depreciation expense related to property, plant and equipment for the years ended December 31, 2023 and 2022 (Successor) was $231.8 million and $256.9 million, respectively. Depreciation expense related to property, plant and equipment for the period from February 3, 2021 to December 31, 2021 (Successor) and January 1, 2021 to March 31 (Predecessor), 2021 was $322.1 million and $45.9 million, respectively. Additions to property plant and equipment during the year ended December 31, 2023 (Successor) include capitalized interest of $11.4 million. Included in Costs of sales during the year ended December 31, 2023 (Successor), is an impairment charge of $9.8 million, $8.9 million of which was primarily related to factory equipment within the Retail segment that management determined was no longer fit for service and $0.9 million of dispensers and equipment within the ReadyRefresh segment. NOTE 6—LEASES The Company’s leasing activities consist of operating and finance leases for land and buildings for offices and warehouse space, vehicles, and certain machinery and equipment, and tools, furniture, and other equipment. The lease term used for calculating RoU assets and lease obligations is determined by considering the non-cancelablelease term and options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. The determination to include or exclude option periods is generally made by considering the activity in the region for the underlying asset corresponding to the respective lease, among other contract-based and market-based factors. Some of the Company’s leases contain variable payments for utilities, insurance, real estate tax