Company: PRMB
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-049952
Chunk: 34

Company: Primo Brands Corp
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 34
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ITEM 1.FINANCIAL STATEMENTS (UNAUDITED)

PRIMO BRANDS CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

Unaudited

($ in millions, except share and per share amounts)September 30, 2025December 31, 2024ASSETSCurrent Assets:Cash, cash equivalents and restricted cash$422.7$614.4Trade receivables, net of allowance for expected credit losses of $16.7 and $4.7 as of September 30, 2025 and December 31, 2024, respectively550.0444.0Inventories233.9208.4Prepaid expenses and other current assets142.2150.4Current assets held for sale117.4111.8Total current assets1,466.21,529.0Property, plant and equipment, net2,064.62,083.9Operating lease right-of-use-assets, net587.8628.7Goodwill3,585.63,572.2Intangible assets, net3,080.53,191.7Other non-current assets88.870.1Non-current assets held for sale82.6118.9Total assets$10,956.1$11,194.5LIABILITIES AND STOCKHOLDERS' EQUITYCurrent Liabilities:Current portion of long-term debt$71.0$64.5Trade payables561.1471.6Accruals and other current liabilities619.3697.7Current portion of operating lease obligations93.195.5Current liabilities held for sale88.982.2Total current liabilities1,433.41,411.5Long-term debt, less current portion5,015.94,963.6Operating lease obligations, less current portion520.0555.6Deferred income taxes742.4738.7Other non-current liabilities56.649.8Non-current liabilities held for sale27.831.1Total liabilities$7,796.1$7,750.3Commitments and contingenciesStockholders' Equity:Common stock, $0.01 par value, 900,000,000 shares authorized, 370,616,043 and 379,792,996 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively$3.8$3.8Additional paid-in capital5,006.34,971.3Accumulated deficit(