Company: PRMB
Filing Date: 2025-01-24
Form Type: S-1
Source: 0001193125-25-012325
Chunk: 149

Company: Primo Brands Corp
Filing Date: 2025-01-24
Form: S-1
Chunk 149
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 decrease in 2022 compared to 2021 was due primarily to receipt of proceeds from the sale of properties in 2022 and a decrease in cash used for acquisitions, partially offset by an increase in additions to property, plant and equipment relative to the prior year. Financing Activities Cash used in financing activities was $59.5 million for the nine months ended September 28, 2024 compared to $137.9 million for the nine months ended September 30, 2023. The $78.4 million decrease was due primarily to a decrease in net payments of short-term debt borrowings and an increase in the issuance of common shares relative to the prior year period. 103

Cash used in financing activities from continuing operations was $290.4 million in 2023
compared to $91.4 million in 2022 and $4.2 million in 2021. The $199.0 million increase in 2023 compared to 2022 was due primarily to an increase in net short-term payments compared to the prior year and an increase in dividends paid
to common shareholders, partially offset by an increase in issuance of common shares.

The $87.2 million increase in 2022 compared to
2021 was due primarily to net short term payments compared to net short-term borrowings in the prior year, an increase in dividends paid to common shareholders, and decrease in issuances of common shares, partially offset by cash provided by other
financing activities and a decrease in cash used for financing transactions and share repurchases.

Financial Liquidity

As of September 28, 2024, Primo Water had total debt of $1,283.7 million and $667.3 million of cash and cash equivalents
compared to $1,285.0 million of debt and $507.9 million of cash and cash equivalents as of December 30, 2023.

Primo
Water’s operations and supplier relationships expose it to risks associated with disruptions to global supply chains and the ongoing Russia/Ukraine and Israel/Hamas wars, all of which are likely to continue to create challenging conditions for
Primo Water’s business, through increased costs, lower consumer spending, volatility in financial markets, or other impacts. While Primo Water has taken steps to minimize the impact of these increased costs, global supply chain disruption may
deteriorate, which could adversely affect Primo Water’s business, financial condition, results of operations, and cash flows.

As of
September 28,