Company: PRMB
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-049952
Chunk: 73

Company: Primo Brands Corp
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 73
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 Which the Hedged Item Is IncludedCarrying Amount of the Hedged LiabilityLong-term debt, less current portion 1$527.6 $468.7 ______________________1  Carrying amount excludes the unamortized debt discounts as of September 30, 2025 and December 31, 2024.The fair value of the Company's derivative assets and liabilities included in Other non-current assets and Accruals and other current liabilities, respectively, as of September 30, 2025 and December 31, 2024 was as follows:($ in millions)September 30, 2025December 31, 2024Derivative ContractAssetsLiabilitiesAssetsLiabilitiesForeign exchange contracts$14.7 $— $— $36.0 The amount of gains or (losses) recognized in Other income, net in the Condensed Consolidated Statements of Operations for fair value hedging relationships, presented on a pre-tax basis, for the three and nine months ended September 30, 2025 is shown in the table below:($ in millions)Three Months EndedSeptember 30, 2025Nine Months EndedSeptember 30, 2025Foreign exchange contractsHedged item$(0.7)$(58.9)Derivative designated as hedging instrument$0.7 $58.9 Amount reclassified from AOCI to expense (amortized)$(2.2)$(6.9)The amount of gains or (losses), net of tax, recognized in the Condensed Consolidated Statements of Comprehensive Income  for fair value hedging relationships for the three and nine months ended September 30, 2025 is shown in the table below:($ in millions)Three Months EndedSeptember 30, 2025Nine Months EndedSeptember 30, 2025Foreign exchange contractsAmount excluded from the assessment of effectiveness 1$(4.4)$(5.8)______________________1 Amount is net of tax impact of $1.5 million and $2.0 million for the three and nine months ended September 30, 2025, respectively.Other than the settlement of the 2024 FX Forwards described above, there were no settlements of the Company's foreign exchange contracts during the three and nine months ended September 30, 2025.Economic (Non-Designated) Hedging StrategyIn addition to derivative instruments that have been designated and qualify for hedge accounting, the Company also uses certain derivatives as