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BUSINESS COMBINATIONS (Tables)

3 Months Ended

Mar. 31, 2025

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Schedule of Purchase Price Allocation

The following table summarizes the preliminary allocation of purchase price to the identifiable assets acquired and liabilities assumed by the Company, with the excess of the purchase price over the fair value of Primo Water’s net assets recorded as goodwill:

($ in millions)			Fair Value
Purchase Price
Estimated fair value of equity instruments:
Class A common shares issued to Primo Water shareholders			$	3,883.2
Replacement share-based payment awards:
Stock options			12.7
Performance-based RSUs converted into time-based RSUs			39.6
Time-based RSUs			13.7
Other awards			1.1
Total consideration			$	3,950.3

Schedule of Assets Acquired and Liabilities Assumed

The table below summarizes the originally reported estimated acquisition date fair values, measurement period adjustments recorded and the final purchase price allocation of the assets acquired and the liabilities assumed:

($ in millions)			Originally Reported						Measurement Period Adjustments						Acquired Value
Cash, cash equivalents and restricted cash			$	665.9					$	—					$	665.9
Trade receivables			144.1						—						144.1
Inventories			53.1						(1.1)						52.0
Prepaid expenses and other current assets			45.8						—						45.8
Current assets held for sale			74.6						—						74.6
Property, plant, and equipment			592.6						(2.1)						590.5
Operating lease right-of-use-assets			150.9						2.5						153.4
Intangible assets			1,836.7						0.1						1,836.8
Other non-current assets			7.1						—						7.1
Non-current assets held for sale			122.1						—						122.1
Current portion of long-term debt			(16.8)						—						(16.8)
Trade payables			(145.5)						—						(145.5)
Accruals and other current liabilities			(397.3)						—						(397.3)
Current portion of operating lease obligations			(27.2)						—						(27.2)
Current liabilities held for sale			(88.0)						—						(88.0)
Long-term debt, less current portion			(1,223.1)						1.8						(1,221.3)
Operating lease obligations, less current portion			(127.6)						(2.5)						(130.1)
Deferred income taxes			(420.9)						0.3						(420.6)
Other non-current liabilities			(18.2)						—						(18.2)
Non-current liabilities held for sale			(36.1)						—						(36.1)
Total identifiable net assets acquired			$	1,192.2					$	(1.0)					$	1,191.2
Goodwill			2,758.1						1.0						2,759.1
Purchase price			$	3,950.3					$	—					$	3,950.3

Schedule of Intangible Assets Acquired

The following table presents the components of identifiable intangible assets associated with the Transaction and their estimated weighted-average useful lives:

($ in millions)			Estimated Fair Market Value						Weighted-Average Useful Life (Years)
Trademarks and trade names			$	594.7					Indefinite
Definite-lived trademarks and trade names			18.7						1 year
Customer relationships			1,046.4						15 years
Water rights			157.6						25 years
Software			15.1						1 year
Other			4.3						2 years
Total identifiable intangible assets			$	1,836.8

Schedule of Indefinite-Lived Intangible Assets Acquired

The following table presents the components of identifiable intangible assets associated with the Transaction and their estimated weighted-average useful lives:

($ in millions)			Estimated Fair Market Value						Weighted-Average Useful Life (Years)
Trademarks and trade names			$	594.7					Indefinite
Definite-lived trademarks and trade names			18.7						1 year
Customer relationships			1,046.4						15 years
Water rights			157.6						25 years
Software			15.1						1 year
Other			4.3						2 years
Total identifiable intangible assets			$	1,836.8

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Tabular disclosure of the characteristics, including initial carrying value, residual amount, weighted average useful life, of finite-lived intangible assets acquired during the period by major class. A major class is composed of intangible assets that can be grouped together because they are similar, either by nature or by their use in the operations of the company.

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-Topic 350
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts.

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Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

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