Company: PRMB
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0002042694-25-000003
Chunk: 134

Company: Primo Brands Corp
Filing Date: 2025-02-27
Form: 10-K
Item: Item 16
Chunk 134
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254.4 million and $26.8 million, respectively.The Company did not have material acquisition activity during the year ended December 31, 2023.

F-20

NOTE 4—DISCONTINUED OPERATIONS

Discontinued OperationsFollowing completion of the Transaction, Primo Water's Remaining International Businesses are presented as discontinued operations in the Company's Consolidated Financial Statements and notes thereto.As of December 31, 2024, the total assets and liabilities of discontinued operations classified as held for sale included in the Company's Consolidated Balance Sheets were $184.8 million and $113.3 million, respectively.Continuing Operations Assets Held for Sale

In October 2024, the Company's management approved the sale of a production facility in Ontario, Canada. The Company classified the facility and associated assets as held for sale and fair valued them utilizing level 3 inputs. 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. 

NOTE 5—CASH, CASH EQUIVALENTS AND RESTRICTED CASH

The following table presents the components of Cash, cash equivalents and restricted cash in the Consolidated Balance Sheets as of the periods presented:December 31,($ in millions)20242023Cash and cash equivalents$613.7$44.7Restricted cash0.72.3Total cash, cash equivalents and restricted cash$614.4$47.0

The restricted cash balance relates to bottle deposits that are required for specific U.S. state programs. 

NOTE 6—INVENTORIES

The following table presents the components of Inventories in the Consolidated Balance Sheets as of the periods presented:December 31,($ in millions)20242023Raw and packaging materials and semi-finished goods$117.8$122.8Finished goods90.657.6Total inventories$208.4$180.4

NOTE 7—PROPERTY, PLANT AND EQUIPMENT, NET

The following table presents the components of Property, plant and equipment, net, in the Consolidated Balance Sheets as of the periods presented:December 31,($ in millions)20242023Machinery and equipment$1,351.8 $1,194.5 Buildings489.1 449.0 Tools