Company: PRMB
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0002042694-25-000007
Chunk: 111

Company: Primo Brands Corp
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 111
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 Condensed Consolidated Statements of Operations. The Company uses the portfolio approach for releasing income tax effects from AOCI.The following table reflects the changes in AOCI, net of taxes, by component for the periods presented:($ in millions)Gain (Loss) On Derivative Instruments1Cumulative Translation AdjustmentNet Unrealized Actuarial Gain (Loss) in Postretirement Benefit Plan2Total AOCIBalance as of December 31, 2024$0.3$(19.6)$2.1$(17.2)OCI before reclassifications0.32.7—3.0Amounts reclassified from AOCI1.7—(0.2)1.5Net current-period OCI2.02.7(0.2)4.5Balance as of March 31, 2025$2.3$(16.9)$1.9$(12.7)Balance as of December 31, 2023$—$(9.9)$2.4$(7.5)OCI before reclassifications—(3.4)—(3.4)Amounts reclassified from AOCI——(0.2)(0.2)Net current-period OCI—(3.4)(0.2)(3.6)Balance as of March 31, 2024$—$(13.3)$2.2$(11.1)______________________1   During the three months ended March 31, 2025, $2.3 million of losses were reclassified from AOCI related to the amounts excluded from the effectiveness testing recognized in earnings for the foreign exchange contracts. The effect of the loss was included in Other operating expense (income), net on the Condensed Consolidated Statements of Operations. The tax benefit recorded as a result of this loss was $0.6 million, and was recorded within Provision for income taxes on the Condensed Consolidated Statements of Operations.2   During the three months ended March 31, 2025 and 2024, $0.2 million and $0.2 million, respectively, of income was reclassified from AOCI related to actuarial gains in the Company's postretirement benefit plan and recorded in Interest and financing expense, net on the Condensed Consolidated Statements of Operations. The tax impact of this income for the three months ended March 31, 2025 and 2024 was immaterial.

NOTE 8—INCOME TAXES

Income tax expense was $17.