Company: PRMB
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0002042694-25-000003
Chunk: 167

Company: Primo Brands Corp
Filing Date: 2025-02-27
Form: 10-K
Item: Item 16
Chunk 167
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 based on the fair value of underlying investment.The changes in the fair value of the Company's commodity forwards recorded at fair value, which are Level 3 financial liabilities, are reflected within Other operating expense, net in the Consolidated Statement of Operations.The Company had no transfers into or out of Level 3 of the fair value hierarchy for any of the periods presented.Fair Value of DebtThe following table summarizes the Company's estimates of the fair values of its debt as of the periods presented:December 31, 2024December 31, 2023($ in millions)Carrying ValueFair ValueCarrying ValueFair ValueTerm Loans$3,098.6 $3,121.8 $2,730.6 $2,710.1 6.250% Senior Notes713.0 709.4 713.0 624.7 3.875% Senior Notes459.8 459.9 — — 4.375% Senior Notes 710.0 701.2 — — Total$4,981.4 $4,992.3 $3,443.6 $3,334.8 The fair values of the 6.250% Senior Notes and Term Loans are estimated using quoted market prices for similar issues and  are categorized within Level 2 of the fair value hierarchy. The fair values of the 3.875% Senior Notes and 4.375% Senior Notes are based on the trading levels and bid/offer prices observed by a market participant and are categorized within Level 2 of the fair value hierarchy.Given the variable interest rates, the carrying values of the ABL Credit Facility and the Revolving Credit Facility and other debts approximate their fair values.

F-43

NOTE 21—SEGMENT REPORTING

Primo Brands operates as a single segment. The Company has an extensive portfolio of highly recognizable, responsibly sourced and conveniently packaged branded beverages, including spring water brands Poland Spring® and Pure Life®, Saratoga® and Mountain Valley®, Arrowhead®, Deer Park®, Ice Mountain®, Ozarka®, and Zephyrhills®, purified brands including Primo WaterTM and Sparkletts®, and flavored and enhanced brands like AC+ION® and Splash RefresherTM. These brands are sold directly across retail channels, including mass food, convenience, natural, drug, wholesale, distributors and home improvement, as well as food service accounts in North America. The Company also has extensive direct-to-consumer offerings with