Company: PRMB
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0002042694-25-000003
Chunk: 137

Company: Primo Brands Corp
Filing Date: 2025-02-27
Form: 10-K
Item: Item 16
Chunk 137
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 Imputed interest(176.3)(14.5)Total lease obligations$651.1$100.2

NOTE 9—GOODWILL

The changes in the carrying amount of Goodwill in the Consolidated Balance Sheets for the periods presented were as follows:($ in millions)AmountBalance as of December 31, 2022$816.5Foreign exchange rate changes0.9Balance as of December 31, 2023817.4Acquisitions2,758.1Foreign exchange rate changes(3.3)Balance as of December 31, 2024$3,572.2

F-23

NOTE 10—INTANGIBLE ASSETS, NET

The following table presents Intangible assets, net, in the Consolidated Balance Sheets by major class as of the periods presented:December 31, 2024December 31, 2023($ in millions)Gross Carrying ValueAccumulated AmortizationNet Book ValueGross Carrying ValueAccumulated AmortizationNet Book ValueDefinite-lived intangible assetsCustomer relationships$1,281.8 $(79.5)$1,202.3 $240.9 $(51.7)$189.2 Water rights621.0 (70.9)550.1 494.5 (59.6)434.9 Software205.3 (98.7)106.6 168.3 (70.8)97.5 Trademarks and trade names18.7 (2.7)16.0 — — — Other45.5 (8.6)36.9 17.1 (6.2)10.9 Total definite-lived intangible assets$2,172.3 $(260.4)$1,911.9 $920.8 $(188.3)$732.5 Indefinite-lived intangible assetsTrademarks and trade names$1,279.8 $— $1,279.8 $687.7 $— $687.7 Total intangible assets, net$3,452.1 $(260.4)$3,191.7 $1,608.5 $(188.3)$1,420.2 For the years ended December 31, 2024, 2023, and 2022, amortization expense of definite-lived intangible assets