Company: PRMB
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0002042694-25-000007
Chunk: 0

Company: Primo Brands Corp
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
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ITEM 1.FINANCIAL STATEMENTS (UNAUDITED)

PRIMO BRANDS CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

Unaudited

($ in millions, except share and per share amounts)March 31, 2025December 31, 2024ASSETSCurrent Assets:Cash, cash equivalents and restricted cash$449.7$614.4Trade receivables, net of allowance for expected credit losses of $7.2 and $4.7 as of March 31, 2025 and December 31, 2024, respectively504.6444.0Inventories252.2208.4Prepaid expenses and other current assets120.9150.4Current assets held for sale65.2111.8Total current assets1,392.61,529.0Property, plant and equipment, net2,045.32,083.9Operating lease right-of-use-assets, net622.6628.7Goodwill3,572.23,572.2Intangible assets, net3,161.53,191.7Other non-current assets74.770.1Non-current assets held for sale113.1118.9Total assets$10,982.0$11,194.5LIABILITIES AND STOCKHOLDERS' EQUITYCurrent Liabilities:Current portion of long-term debt$67.9$64.5Trade payables485.6471.6Accruals and other current liabilities578.3697.7Current portion of operating lease obligations94.295.5Current liabilities held for sale79.982.2Total current liabilities1,305.91,411.5Long-term debt, less current portion4,976.74,963.6Operating lease obligations, less current portion549.3555.6Deferred income taxes736.5738.7Other non-current liabilities51.049.8Non-current liabilities held for sale29.531.1Total liabilities$7,648.9$7,750.3Commitments and contingenciesStockholders' Equity:Common stock, $0.01 par value, 900,000,000 shares authorized, 376,197,105 and 379,792,996 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively$3.8$3.8Additional paid-in capital4,979.44,971.3Accumulated deficit(