Company: PRMB
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0002042694-25-000003
Chunk: 161

Company: Primo Brands Corp
Filing Date: 2025-02-27
Form: 10-K
Item: Item 16
Chunk 161
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 balances reflect the accumulated post-retirement benefit obligations for the Company’s non-executive medical benefit plans. There were no related plan assets as of December 31, 2024 and 2023. Total benefits paid under this plan for the years ended December 31, 2024, 2023, and 2022 was $0.9 million, $0.7 million, and $0.5 million, respectively.

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The following table presents the amounts recognized in the Consolidated Financial Statements and the assumptions used to estimate the actuarial present value of benefit obligations as of the periods presented:December 31,($ in millions)20242023Accumulated Postretirement Benefit ObligationProjected benefit obligation at beginning of year$12.7$12.2Service cost0.10.1Interest cost0.60.6Actuarial (gain) / loss(0.4)0.5Benefits paid(0.9)(0.7)Projected benefit obligation at end of year$12.1$12.7Recorded in Balance SheetAccruals and other current liabilities$1.0$0.7Other non-current liabilities11.112.0Total liabilities$12.1$12.7Recorded in Other Comprehensive IncomeNet actuarial gain$2.9$3.3Change in Other Comprehensive IncomeNet actuarial (gain) / loss$(0.4)$0.5Amortization of actuarial gain0.80.9Total recognized in other comprehensive income$0.4$1.4Assumptions Used to Determine Liability at Year EndDiscount rate (1)5.5%4.8%Healthcare cost trend6.8%6.7%Ultimate trend rate4.5%4.5%Year that rate reaches ultimate trend20342032______________________________________________________(1) These year-end rates are the basis for determining net periodic costs for the following year. The amount of future benefit payments related to the non-executive medical plan expected to be paid over the next five years and the aggregate five fiscal years thereafter as follows (in millions):Year Ending December 31,Amount2025$1.020261.020271.120281.120291.02030 – 20344.2

F-39

NOTE 17—REVENUE RECOGNITION 

Disaggregation of RevenueThe Company's primary geographic market is North America with sales in the United States accounting for