Company: PRMB
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0002042694-25-000015
Chunk: 32

Company: Primo Brands Corp
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 32
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ITEM 1.FINANCIAL STATEMENTS (UNAUDITED)

PRIMO BRANDS CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

Unaudited

($ in millions, except share and per share amounts)June 30, 2025December 31, 2024ASSETSCurrent Assets:Cash, cash equivalents and restricted cash$412.0$614.4Trade receivables, net of allowance for expected credit losses of $12.6 and $4.7 as of June 30, 2025 and December 31, 2024, respectively587.0444.0Inventories248.3208.4Prepaid expenses and other current assets179.3150.4Current assets held for sale76.1111.8Total current assets1,502.71,529.0Property, plant and equipment, net2,045.42,083.9Operating lease right-of-use-assets, net611.4628.7Goodwill3,581.43,572.2Intangible assets, net3,124.23,191.7Other non-current assets74.670.1Non-current assets held for sale109.5118.9Total assets$11,049.2$11,194.5LIABILITIES AND STOCKHOLDERS' EQUITYCurrent Liabilities:Current portion of long-term debt$70.4$64.5Trade payables533.6471.6Accruals and other current liabilities632.0697.7Current portion of operating lease obligations93.195.5Current liabilities held for sale90.982.2Total current liabilities1,420.01,411.5Long-term debt, less current portion5,022.24,963.6Operating lease obligations, less current portion540.0555.6Deferred income taxes737.8738.7Other non-current liabilities54.949.8Non-current liabilities held for sale28.131.1Total liabilities$7,803.0$7,750.3Commitments and contingenciesStockholders' Equity:Common stock, $0.01 par value, 900,000,000 shares authorized, 373,337,220 and 379,792,996 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively$3.8$3.8Additional paid-in capital4,994.14,971.3Accumulated deficit(