Company: PRMB
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-049952
Chunk: 184

Company: Primo Brands Corp
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 184
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 The Company excludes forward points from its assessment of hedge effectiveness and amortizes them on a straight-line basis over the life of the hedging instruments in Other income, net in the Condensed Consolidated Statements of 

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Operations. The difference between fair value changes of the excluded component and the amount amortized to Other income, net is recorded as a component of AOCI on the Condensed Consolidated Balance Sheets.The following amounts were recorded on the Condensed Consolidated Balance Sheets related to hedged items as of September 30, 2025 and December 31, 2024:($ in millions)September 30, 2025December 31, 2024Line Item in Condensed Consolidated Balance Sheets in Which the Hedged Item Is IncludedCarrying Amount of the Hedged LiabilityLong-term debt, less current portion 1$527.6 $468.7 ______________________1  Carrying amount excludes the unamortized debt discounts as of September 30, 2025 and December 31, 2024.The fair value of the Company's derivative assets and liabilities included in Other non-current assets and Accruals and other current liabilities, respectively, as of September 30, 2025 and December 31, 2024 was as follows:($ in millions)September 30, 2025December 31, 2024Derivative ContractAssetsLiabilitiesAssetsLiabilitiesForeign exchange contracts$14.7 $— $— $36.0 The amount of gains or (losses) recognized in Other income, net in the Condensed Consolidated Statements of Operations for fair value hedging relationships, presented on a pre-tax basis, for the three and nine months ended September 30, 2025 is shown in the table below:($ in millions)Three Months EndedSeptember 30, 2025Nine Months EndedSeptember 30, 2025Foreign exchange contractsHedged item$(0.7)$(58.9)Derivative designated as hedging instrument$0.7 $58.9 Amount reclassified from AOCI to expense (amortized)$(2.2)$(6.9)The amount of gains or (losses), net of tax, recognized in the Condensed Consolidated Statements of Comprehensive Income  for fair value hedging relationships for the three and nine months ended September 30, 2025 is shown in the table below:($ in millions)Three Months Ended