Company: PRMB
Filing Date: 2025-01-24
Form Type: S-1
Source: 0001193125-25-012325
Chunk: 358

Company: Primo Brands Corp
Filing Date: 2025-01-24
Form: S-1
Chunk 358
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 |     |     |             2.0 | % |

The Company utilizes a yield curve analysis to determine the discount rates for its DB plan obligations. The yield curve considers pricing and yield information for high quality corporate bonds with maturities matched to estimated payouts of future pension benefits. The Company evaluates its assumption regarding the estimated long-term rate of return on plan assets based on historical experience, future expectations of investment returns, asset allocations, and its investment strategy. The Company’s long-term rate of return on plan assets reflect expectations of projected weighted-average market returns of plan assets. Changes in expected returns on plan assets also reflect any adjustments to the Company’s targeted asset allocation. Plan Assets and Asset Mix Our investment policy is that plan assets will be managed utilizing an investment philosophy and approach characterized by all of the following, listed in priority order: (1) emphasis on total return, (2) emphasis on high-quality securities, (3) sufficient income and stability of income, (4) safety of principal with limited volatility of capital through proper diversification and (5) sufficient liquidity. In connection with termination of the U.S. Plan and the distribution of all plan assets in the fiscal year ended December 30, 2023, there were no plan assets as of December 30, 2023. The U.S. Plan assets were 100% allocated to cash and cash equivalents as of December 31, 2022. F-109

Note 18—Consolidated Accumulated Other Comprehensive (Loss) Income Changes in consolidated accumulated other comprehensive (loss) income (“AOCI”) by component for the fiscal years ended December 30, 2023, December 31, 2022 and January 1, 2022 were as follows:

| (in millions of U.S. dollars)1  
 Balance as of January 2, 2021   |     | Pension Benefit 
 Plan Items      | (1.1 | ) |     | Currency Translation 
 Adjustment Items     |  (85.6 | ) |     | Total |  (86.7 | ) |
|:--------------------------------|:----|:----------------|-----:|:--|:----|:---------------------|-------:|:--|:----|:------|-------:|:--|
| OCI before reclassifications    |     |                 | (0.6 | ) |     |                      |   18.2 |   |     |       |   17.6 |   |
| Amounts reclassified