Company: PRMB
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0002042694-25-000015
Chunk: 175

Company: Primo Brands Corp
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 175
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 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:June 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 contracts20.3 — 20.3 — Commodity forwards1.2 — — 1.2 $60.4 $14.1 $45.1 $1.2 Financial Liabilities:Commodity forwards$4.6 $— $— $4.6 $4.6 $— $— $4.6 December 31, 2024($ 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 market price for identical assets in active markets. The fair value of the Company's split-dollar life insurance policies are the cash surrender value based on the fair value of underlying investment.The changes in the fair value of the Company's commodity forwards recorded at fair value, which are Level 3 financial liabilities, are reflected within Other operating (income) expense, net on the Condensed Consolidated Statements of Operations.The Company had no transfers into or out of Level 3 of the fair value hierarchy for any of the periods presented.

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Fair Value of DebtThe following table summarizes the Company's estimates of the fair values of its debt as of the periods presented:June 30, 2025December 31,