Company: PRMB
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-049952
Chunk: 176

Company: Primo Brands Corp
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 176
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 $100.0 million. The Company funded the share repurchase with cash on hand and the repurchased shares of Class A common stock are no longer outstanding.On May 8, 2025, the Company entered into an underwriting agreement with the Sponsor Stockholder, Triton Water Equity Holdings and BofA Securities, Inc. and Morgan Stanley & Co. LLC, as underwriters, in connection with the underwritten secondary offering by the Sponsor Stockholder and Triton Water Equity Holdings of 47,500,000 shares of Class A common stock at a price of $31.67 per share (the "May Offering"). The May Offering closed on May 12, 2025. The Sponsor Stockholder and Triton Water Equity Holdings received all of the proceeds from the May Offering. No shares were sold by the Company.Share Repurchase ProgramOn August 6, 2025, the Board of Directors approved a share repurchase program of $250.0 million of the Company's outstanding Class A common stock (the "Repurchase Program"). During the three and nine months ended September 30, 2025, we repurchased 3,011,204 shares of our Class A common stock for an aggregate purchase price of approximately $73.2 million, including commissions paid to brokers, through open market transactions under the Repurchase Program. Shares purchased under this plan were subsequently retired.Accumulated Other Comprehensive Income (Loss)Accumulated other comprehensive income (loss) ("AOCI") represents gains and losses affecting stockholders' equity that are not reflected on the Condensed Consolidated Statements of Operations. The Company uses the portfolio approach for releasing income tax effects from AOCI.The following table reflects the changes in AOCI, net of taxes, by component for the periods presented:($ in millions) ¹Gains and Losses On Derivative Instruments1Cumulative Translation AdjustmentPostretirement Benefit Plan ItemsTotalBalance as of June 30, 2025$2.4$(6.1)$1.7$(2.0)OCI before reclassifications(4.4)(1.1)—(5.5)Amounts reclassified from AOCI1.6—(0.2)1.4Net current-period OCI(2.8)(1.1)(0.2)(4.1)Balance as of September 30, 2025$(0.4)$(7.2)$1.5$(6.1)Balance as of December 31, 2024