Company: PRMB
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-049952
Chunk: 74

Company: Primo Brands Corp
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 74
---
 economic hedges of commodity exposure. Although these derivatives were not designated and/or did not qualify for hedge accounting, they are effective economic hedges. The changes in the fair values of economic hedges are immediately recognized in earnings.As of September 30, 2025, the fair value of the Company's commodity forwards were short-term liabilities of $1.2 million recorded in Accruals and other current liabilities, and long-term liabilities of $0.3 million recorded in Other non-current liabilities on the Condensed Consolidated Balance Sheets.

32

Table of Contents

As of December 31, 2024, the fair value of the Company's commodity forwards were liabilities of $5.4 million recorded in Accruals and other current liabilities on the Condensed Consolidated Balance Sheets.The change in fair value of the commodity forwards is reflected within Other operating (income) expense, net in the Condensed Consolidated Statements of Operations.

NOTE 14—FAIR VALUE MEASUREMENTS 

The following tables summarize the fair values of financial instruments:September 30, 2025($ in millions)TotalLevel 1Level 2Level 3Financial Assets:Money market investments$14.1 $14.1 $— $— Split-dollar life insurance policies24.8 — 24.8 — Foreign exchange contracts14.7 — 14.7 — Commodity forwards0.7 — — 0.7 $54.3 $14.1 $39.5 $0.7 Financial Liabilities:Commodity forwards$2.2 $— $— $2.2 $2.2 $— $— $2.2 December 31, 2024($ in millions)TotalLevel 1Level 2Level 3Financial Assets:Money market investments$14.1 $14.1 $— $— Split-dollar life insurance policies24.7 — 24.7 — $38.8 $14.1 $24.7 $— Financial Liabilities:Foreign exchange contracts$36.0 $— $36.0 $— Commodity forwards5.4 — — 5.4 $41.4 $— $36.0 $5.4 The fair values of the Company’s money market investments are based on the daily