Company: LW
Filing Date: 2025-09-30
Form Type: 10-Q
Source: 0001679273-25-000070
Chunk: 83

Company: Lamb Weston Holdings, Inc.
Filing Date: 2025-09-30
Form: 10-Q
Item: Part I, Item 2
Chunk 83
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)Pension settlement charge of $13.1 million ($10.1 million after-tax, or $0.07 per share) for the thirteen weeks ended August 24, 2025 to fully fund the Company’s defined benefit pension plan, enabling lump sum payments to participants and transferring the remaining obligations and related plan assets to an insurer through a group annuity contract.

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The following tables reconcile gross profit to Adjusted Gross Profit, SG&A to Adjusted SG&A, and income tax expense to Adjusted Income Tax Expense.

For the Thirteen Weeks EndedAugust 24, 2025August 25, 2024August 24, 2025August 25, 2024August 24, 2025August 25, 2024(in millions)Gross ProfitSelling, General and AdministrativeIncome Tax Expense (Benefit)As reported$342.4 $356.0 $153.6 $143.9 $47.9 $50.8 Unrealized derivative gains(3.1)(2.9)1.8 6.0 (1.1)(2.3)Foreign currency exchange gains and losses— — 4.7 (0.6)(0.8)0.1 Blue chip swap transaction gains— — — 16.6 — — Stock-based compensation— — (10.6)(9.5)1.6 1.5 Items impacting comparability:Cost Savings Program, Restructuring Plan, and other expenses(0.4)— — — 7.7 — Shareholder activism expense— — (4.0)— 0.9 — Pension settlement— — (13.1)— 3.0 — Total adjustments(3.5)(2.9)(21.2)12.5 11.3 (0.7)Adjusted$338.9 $353.1 $132.4 $156.4 $59.2 $50.1 

The following table reconciles net sales to net sales at constant currency. 

(in millions)Net SalesCurrencyNet Sales at Constant CurrencyThirteen Weeks Ended August 24, 2025North America$1,084.6 $0.8 $1,085.4 International574.7 (24.5)550.2