Company: PRMB
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-049952
Chunk: 181

Company: Primo Brands Corp
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 181
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,Nine Months Ended September 30,($ in millions)2025202420252024Transaction costs$—$7.7$6.2$26.7Other acquisition expenses1.0—5.4—Other integration expenses35.41.697.71.6Total acquisition and integration expenses36.49.3109.328.3Non-cash exit and disposal charges 13.1—6.0—Facility closure expense 13.1—15.7—Employee severance and termination related benefits1.60.72.70.7Total restructuring expenses7.80.724.40.7Total acquisition, integration and restructuring expenses$44.2$10.0$133.7$29.0______________________1 Includes lease related non-cash charges and lease termination costsFor the three and nine months ended September 30, 2025, integration-related costs of $44.0 million and $67.1 million were recorded within Cost of sales on the Condensed Consolidated Statements of Operations, respectively. The following table reflects the activity related to the restructuring accrual for the period presented:($ in millions)AmountBalance as of December 31, 2024$46.4Charges incurred6.3Payments made(12.1)Balance as of March 31, 2025$40.6Charges incurred7.4Payments made(12.2)Balance as of June 30, 2025$35.8Charges incurred4.7Payments made(13.9)Balance as of September 30, 2025$26.6

NOTE 13—HEDGING TRANSACTIONS AND DERIVATIVE FINANCIAL INSTRUMENTS

The Company is directly and indirectly affected by changes in foreign currency market conditions and commodity prices on items such as diesel fuel and petroleum-based products. These changes in market conditions and commodity prices may adversely impact the Company's financial performance and are referred to as market risks. When deemed appropriate by management, the Company uses derivatives as a risk management tool to mitigate the potential impact of foreign currency market risks and commodity price risks.The Company uses foreign exchange forward contracts to manage the foreign exchange risk associated with the principal balance of the Company's 3.875% Senior Notes and non-tendered Original 3.875% Senior Notes. Forward contracts are agreements to buy or sell a quantity of a currency at a predetermined future date, and at a predetermined rate or price and are traded over-the-counter.