Company: PRMB
Filing Date: 2025-02-07
Form Type: S-1/A
Source: 0001193125-25-022806
Chunk: 101

Company: Primo Brands Corp
Filing Date: 2025-02-07
Form: S-1/A
Chunk 101
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 compared to income of $11.4 million for the three months ended September 30, 2023. The increase in expense was primarily due to a
$8.8 million unrealized loss on commodity forwards during the current period, compared to an unrealized gain of $11.5 million in the prior year.

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 three months
ended September 30, 2024, interest and financing expense, net was $85.7 million, an increase of $9.9 million, or 13.1%, as compared to the three months ended September 30, 2023, primarily

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attributable to the incurrence of an incremental amount of $400.0 million in term loans, net of discount of $8.0 million, pursuant to the company’s entry into the 2024 Incremental Term Loans (as defined below) on March 1, 2024. Provision for Income Taxes For the three months ended September 30, 2024, provision for income taxes was $18.5 million, compared to $21.4 million for the three months ended September 30, 2023. The majority of BlueTriton’s taxable income was generated in the United States and was taxed at an effective tax rate of 25.8% for the three months ended September 30, 2024, mainly driven by the United States activity taxed at a federal and state statutory rate of 24.9%. Relative to the federal and state statutory rate, the 2023 effective tax rate was 27.1%, primarily impacted by discrete items in the prior year period. Net Income Net income for the three months ended September 30, 2024 was $53.3 million, a decrease of $4.2 million as compared to the three months ended September 30, 2023, due to the factors mentioned above. Segment Results Retail

|                    |     | Three Months Ended September 30, 
 2024                             
 ($ in millions)                  |       |   |     | 2023 |       |   |     | $ Variance |      |     | % Change |      |   |
|:-------------------|:----|:---------------------------------|------:|:--|:----|: