Company: PRMB
Filing Date: 2025-01-24
Form Type: S-1
Source: 0001193125-25-012325
Chunk: 106

Company: Primo Brands Corp
Filing Date: 2025-01-24
Form: S-1
Chunk 106
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 the 2021 Successor Period and $219.9 million for the 2021 Predecessor Period, which change was primarily driven by increased spending on marketing, partially offset by reduced people costs due to restructuring, a
decrease in impact from purchase accounting due to fully depreciated assets and various operational initiatives.

Acquisition, Integration and Restructuring Expenses

During the year ended December 31, 2022, acquisition, integration and restructuring expenses were
$83.8 million compared to $114.3 million for the 2021 Successor Period and $149.0 million for the 2021 Predecessor Period, which change was primarily due to various one-time costs in 2021
related to the Nestlé Acquisition, including Nestlé executive retiree 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