Company: PRMB
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0002042694-25-000007
Chunk: 2

Company: Primo Brands Corp
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 2
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 loss in postretirement benefit plans(0.2)(0.2)Unrealized gain on fair value hedges, net of tax benefit (expense) of $(0.7) and nil, respectively2.0—Other comprehensive income (loss)4.5(3.6)Total comprehensive income$33.2$29.9

The accompanying notes are an integral part of these condensed consolidated financial statements

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PRIMO BRANDS CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

Unaudited

Three Months Ended March 31,($ in millions)20252024Cash flows from operating activities of continuing operations:Net income$28.7$33.5Less: Net loss from discontinued operations, net of income taxes(6.0)— Net income from continuing operations$34.7$33.5Adjustments to reconcile net income from continuing operations to cash flows from operating activities of continuing operations:Depreciation and amortization128.675.2Amortization of debt discount and issuance costs6.13.5Stock-based compensation costs12.00.3Restructuring charges0.5—Inventory obsolescence expense1.22.5Charge for expected credit losses7.12.1Deferred income taxes(2.6)(17.3)Other non-cash items1.5(2.8)Changes in operating assets and liabilities, net of effects of businesses acquired:Trade receivables(67.1)(61.3)Inventories(45.7)(37.4)Prepaid expenses and other current and non-current assets34.67.3Trade payables13.934.2Accruals and other current and non-current liabilities(86.0)(33.8)Net cash provided by operating activities of continuing operations38.86.0Cash flows from investing activities of continuing operations:Purchases of property, plant and equipment(62.0)(23.5)Purchases of intangible assets(7.5)(21.2)Proceeds from sale of other assets45.6—Proceeds from settlement of split-dollar life insurance contracts—3.0Other investing activities0.7—Net cash used in investing activities of continuing operations(23.2)(41.7)

The accompanying notes are an integral part of these condensed consolidated financial statements

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PRIMO BRANDS CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH F