Company: PRMB
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-049952
Chunk: 51

Company: Primo Brands Corp
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 51
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 Balance Sheets were $154.7 million and $116.7 million, respectively.As of December 31, 2024, the total assets and liabilities of discontinued operations classified as held for sale included in the Condensed Consolidated Balance Sheets were $184.8 million and $113.3 million, respectively.Continuing Operations Assets Held for SaleIn October 2024, the Company's management approved the sale of a production facility in Ontario, Canada. As of December 31, 2024, $45.9 million in assets held for sale related to this production facility were classified in Current assets held for sale in the Consolidated Balance Sheets. The Company closed on the sale of the facility and associated assets on January 31, 2025, resulting in an insignificant loss on the transaction.

During the nine months ended September 30, 2025, the Company's management approved the sale of additional facilities as a result of integration efforts. As of September 30, 2025, the Company had $45.3 million in assets held for sale which primarily related to the facility closures and were classified in Current assets held for sale in the Consolidated Balance Sheets. 

NOTE 5—INVENTORIES

The following table presents the components of Inventories in the Condensed Consolidated Balance Sheets as of the periods presented:($ in millions)September 30, 2025December 31, 2024Raw and packaging materials and semi-finished goods$134.3$117.8Finished goods99.690.6Total inventories$233.9$208.4

NOTE 6—INTANGIBLE ASSETS, NET

The following table presents Intangible assets, net, in the Consolidated Balance Sheets by major class as of the periods presented:September 30, 2025December 31, 2024($ in millions)Gross Carrying ValueAccumulated AmortizationNet Book ValueGross Carrying ValueAccumulated AmortizationNet Book ValueDefinite-lived intangible assetsCustomer relationships$1,301.3 $(146.6)$1,154.7 $1,281.8 $(79.5)$1,202.3 Water rights621.2 (91.1)530.1 621.0 (70.9)550.1 Software228.5 (127.9)100.6 205.3 (98.7)106.6 Trademarks and trade names91