Company: LW
Filing Date: 2025-09-30
Form Type: 10-Q
Source: 0001679273-25-000070
Chunk: 33

Company: Lamb Weston Holdings, Inc.
Filing Date: 2025-09-30
Form: 10-Q
Item: Part I, Item 1
Chunk 33
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-market derivative gains and losses and other items affecting comparability between periods, (ii) permit investors to view performance using the same tools that management uses to budget, make operating and strategic decisions, and evaluate our core operating performance across periods, and (iii) otherwise provide supplemental information that may be useful to investors in evaluating our financial results. In addition, we believe that the presentation of these non-GAAP financial measures, when considered together with their most directly comparable GAAP financial measure and the reconciliations to those GAAP financial measures, provides investors with additional tools to understand the factors and trends affecting our underlying business than could be obtained absent these disclosures.

The non-GAAP financial measures presented in this report should be viewed in addition to, and not as alternatives for, financial measures prepared in accordance with GAAP that are also presented in this report. These measures are not substitutes for their comparable GAAP financial measures, such as net income, gross profit, SG&A, income tax expense, net sales, or other measures prescribed by GAAP, and there are limitations to using non-GAAP financial measures. For example, the non-GAAP financial measures presented in this report may differ from similarly titled non-GAAP financial measures presented by other companies, and other companies may not define these non-GAAP financial measures the same way we do.

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The following table reconciles net income to Adjusted EBITDA:

Thirteen Weeks Ended(in millions)August 24,2025August 25,2024Net income (a)$64.3 $127.4 Interest expense, net43.7 45.2 Income tax expense47.9 50.8 Income from operations including equity method investment earnings155.9 223.4 Depreciation and amortization (b)96.3 91.4 Unrealized derivative gains(4.9)(8.9)Foreign currency exchange (gains) losses(4.7)0.6 Blue chip swap transaction gains (c)— (16.6)Stock-based compensation10.6 9.5 Items impacting comparability:Cost Savings Program, Restructuring Plan, and other expenses (d)31.9 — Shareholder activism expense (e)4.0 — Pension settlement (f)13.1 — Adjusted EBITDA$302.2 $299.4 

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(a)Net income during the thirteen weeks ended August 25, 2024