Company: PRMB
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0002042694-25-000015
Chunk: 63

Company: Primo Brands Corp
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 63
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5.4)Balance as of June 30, 2024$—$(15.0)$2.1$(12.9)______________________1   During the three and six months ended June 30, 2025, $2.4 million  and $4.7 million of losses were reclassified from AOCI related to the amounts excluded from the effectiveness testing recognized in earnings for the foreign exchange contracts. The effect of the loss was included in Other operating (income) expense, net on the Condensed Consolidated Statements of Operations. The tax benefits recorded as a result of these losses were $0.6 million and $1.2 million, respectively, and were recorded within Provision for income taxes on the Condensed Consolidated Statements of Operations.2   During the three and six months ended June 30, 2025, $0.2 million and $0.4 million, respectively, of income was reclassified from AOCI related to actuarial gains in the Company's postretirement benefit plan. During the three and six months ended June 30, 2024, $0.1 million and $0.3 million, respectively, of income was reclassified from AOCI related to actuarial gains in the Company's postretirement benefit plan. These amounts were recorded in Interest and financing expense, net on the Condensed Consolidated Statements of Operations and the tax impact of this income for all periods was immaterial.3   During the three and six months ended June 30, 2025, $1.0 million of losses were reclassified from AOCI related to the foreign currency translation balances recognized in earnings in connection with the sale of the Eden Springs Netherlands B.V. business located in the United Kingdom included in Net loss from discontinued operations, net of income taxes on the Condensed Consolidated Statements of Operations.

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NOTE 9—INCOME TAXES

Income tax expense was $16.3 million on pre-tax income of $46.8 million for the three months ended June 30, 2025, as compared to income tax expense of $18.3 million on pre-tax income of $72.8 million in the comparable prior year period. The effective income tax rate for the three months ended June 30, 2025 was 34.8% compared to 25.1% in the comparable prior year period.Income tax expense was $34.0 million on pre-tax income of $99.2 million for the six months ended