Company: PRMB
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0002042694-25-000003
Chunk: 132

Company: Primo Brands Corp
Filing Date: 2025-02-27
Form: 10-K
Item: Item 16
Chunk 132
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imo Water shareholders$3,883.2Replacement share-based payment awards:Stock options12.7Performance-based RSUs converted into time-based RSUs39.6Time-based RSUs13.7Other awards1.1Total consideration$3,950.3Identifiable assets acquired and liabilities assumedCash, cash equivalents and restricted cash$665.9Trade receivables144.1Inventories53.1Prepaid expenses and other current assets45.8Current assets held for sale74.6Property, plant, and equipment592.6Operating lease right-of-use-assets150.9Intangible assets1,836.7Other non-current assets7.1Non-current assets held for sale122.1Current portion of long-term debt(16.8)Trade payables(145.5)Accruals and other current liabilities(397.3)Current portion of operating lease obligations(27.2)Current liabilities held for sale(88.0)Long-term debt, less current portion(1,223.1)Operating lease obligations, less current portion(127.6)Deferred income taxes(420.9)Other non-current liabilities(18.2)Non-current liabilities held for sale(36.1)Total identifiable net assets acquired$1,192.2Goodwill2,758.1Purchase Price$3,950.3The assets and liabilities acquired in the Transaction are recorded at their estimated fair values per preliminary valuations and management estimates and are subject to change when formal valuations and other studies are finalized. Estimated fair values for deferred tax balances are preliminary and are also subject to change based on the final valuation results. In addition, consideration for potential loss contingencies are still under review.The Company recorded $108.7 million of acquisition-related costs associated with the Transaction during the year ended December 31, 2024, which are included in Acquisition, integration and restructuring expenses in the Consolidated Statement of Operations.

F-19

Intangible AssetsIn the Company's determination of the fair value of intangible assets, we consider, among other factors, the best use of acquired assets, analysis of historical financial performance and estimates of future performance of the acquired business’ products.The estimated fair values of identified intangible assets are calculated considering both market participant expectations, using an income approach, as well as estimates and assumptions provided by the Company's management.The estimated fair value of customer relationships represents future after-tax discounted cash flows that will be derived from sales to existing customers of the acquired business as of the date of