Company: THS
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0001320695-25-000007
Chunk: 87

Company: TreeHouse Foods, Inc.
Filing Date: 2025-02-14
Form: 10-K
Item: Item 7
Chunk 87
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 net income from continuing operations as presented in the Consolidated Statements of Operations, the relevant GAAP measure, to EBITDA from continuing operations and Adjusted EBITDA from continuing operations for the years ended December 31, 2024 and 2023:

Year Ended December 31,20242023(unaudited, in millions)Net income from continuing operations (GAAP)$26.9 $59.0 Interest expense63.4 74.8 Interest income(4.2)(40.1)Income tax expense6.2 24.4 Depreciation and amortization147.1 141.9 EBITDA from continuing operations (Non-GAAP)239.4 260.0 Product recalls and related costs(1)41.1 29.2 Growth, reinvestment, restructuring programs & other, excluding accelerated depreciation(2)28.4 46.1 Impairment(3)19.3 — Acquisition, integration, divestiture, and related costs(4)8.9 16.7 Foreign currency loss (gain) on remeasurement of intercompany notes(5)7.0 (1.7)Mark-to-market adjustments(6)(6.7)15.1 Shareholder activism(7)— 0.3 Tax indemnification(8)— 0.2 Adjusted EBITDA from continuing operations (Non-GAAP)$337.4 $365.9 % of net salesNet income from continuing operations margin0.8 %1.7 %EBITDA from continuing operations margin7.1 %7.6 %% of adjusted net salesAdjusted EBITDA from continuing operations margin 10.0 %10.7 %

(1)Griddle Recall and Related CostsOn October 18, 2024, the Company initiated a voluntary recall of certain frozen waffle products produced at its Brantford, Ontario, Canada facility, and on October 22, 2024, the Company expanded its voluntary recall to include all products manufactured at the Brantford facility that are still within their shelf-life. For the year ended December 31, 2024, the Company recognized incremental charges of $36.6 million, which includes $21.0 million for product returns, non-cash inventory write-offs of $7.4 million, plant shutdown charges of $6.5 million, and other costs,