Company: PRMB
Filing Date: 2025-02-07
Form Type: S-1/A
Source: 0001193125-25-022806
Chunk: 104

Company: Primo Brands Corp
Filing Date: 2025-02-07
Form: S-1/A
Chunk 104
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 administrative expenses for the nine months ended September 30, 2024 were $714.7 million, an increase of
$5.4 million, or 0.8%, as compared to the nine months ended September 30, 2023, primarily driven by a labor-related cost, including variable compensation, and related party management fees, increasing $11.5 million and
$7.4 million, respectively. These high costs were partially offset by a $13.9 million reduction in information technology costs.

Acquisition, Integration and Restructuring Expenses

During the nine months ended September 30, 2024, acquisition, integration and restructuring expenses were $29.0 million, an increase
of $14.0 million, or 93.3%, as compared to the nine months ended September 30, 2023, primarily due to advisory and legal costs of $26.7 million related to the merger with Primo Water, partially offset by $7.7 million lower
severance charges during 2024 when compared to 2023.

Other Operating Expenses (Income), Net

Other operating expenses (income), net, includes primarily foreign exchange, unrealized mark-to-market adjustments for commodity forwards, and other infrequent income or expenses.

For
the nine months ended September 30, 2024, other operating expense, net was $6.5 million, compared to income of $3.9 million for the nine months ended September 30, 2023. The change was primarily due to an unrealized loss of
$5.8 million on commodity forwards in the current period, compared to an unrealized gain of $5.6 million in the prior year period.

Interest and Financing Expense, Net

Interest and financing expense, net, includes the interest expense on outstanding debt obligations,
partially offset by the amount capitalized as part of capital projects and interest income earned on cash and cash equivalents, including restricted cash.

For the nine months ended September 30, 2024, interest and financing expense, net was $251.8 million, an increase of
$39.1 million, or 18.4%, as compared to the nine months ended September 30, 2023, primarily attributable to the $23.7 million of interest related to the addition of the 2024 Incremental Term Loans in March 2024, the amounts drawn down
on the revolving credit facility and the higher variable interest rate on the BlueTriton Term Loan Facility compared to