Company: PRMB
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0002042694-25-000003
Chunk: 149

Company: Primo Brands Corp
Filing Date: 2025-02-27
Form: 10-K
Item: Item 16
Chunk 149
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 recorded as a result of this loss was $0.4 million, and was recorded within Provision for (benefit from) income taxes on the Consolidated Statements of Operations.2.During the years ended December 31, 2024 and 2023, $0.8 million and $0.9 million, respectively, of income was reclassified from AOCI related to actuarial gains in the Company's postretirement benefit plan and recorded in Interest and financing expense, net on the Consolidated Statements of Operations. The tax obligation recorded as a result of this income for the years ended December 31, 2024 and 2023 was $0.2 million and $0.2 million, respectively, and was recorded within Provision for (benefit from) income taxes on the Consolidated Statements of Operations.

NOTE 14—INCOME TAXES

U.S. and foreign components of income (loss) before income taxes was as follows for the periods presented:For the Years Ended December 31,($ in millions)202420232022Domestic$56.4 $134.8 $(165.1)Foreign(35.7)(16.9)(14.7)Total income (loss) before income taxes$20.7$117.9$(179.8)

F-31

The following table presents the components of the Provision for (benefit from) income taxes in the Consolidated Statements of Operations for the periods presented:For the Years Ended December 31,($ in millions)202420232022Current:Federal$93.0$49.8$(0.1)State and local18.415.86.5Foreign— — — Total current$111.4$65.6$6.4Deferred:Federal(69.1)(27.9)(39.6)State and local(0.8)(8.4)(16.2)Foreign(8.2)(4.2)(3.7)Total deferred$(78.1)$(40.5)$(59.5)Total provision for (benefit from) income taxes$33.3$25.1$(53.1)The following table presents a reconciliation of the U.S. federal statutory income tax rate to the Company's effective tax rate for the periods presented:For the Year Ended December 31,202420232022($ in millions)%$%$%$U.S. federal statutory income tax rate21.0%$4