Company: LW
Filing Date: 2025-09-30
Form Type: 10-Q
Source: 0001679273-25-000070
Chunk: 12

Company: Lamb Weston Holdings, Inc.
Filing Date: 2025-09-30
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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 the Securities and Exchange Commission (the “SEC”) on July 23, 2025.Certain amounts from prior period consolidated financial statements have been reclassified to conform with current period presentation. These reclassifications had no financial impact on previously reported net income, cash flows, or stockholders' equity.Accounting Pronouncements In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, to enhance transparency and decision usefulness of income tax disclosures, particularly around rate reconciliations and income taxes paid information. ASU 2023-09 is effective for our Annual Report on Form 10-K for the fiscal year ending May 31, 2026, on a prospective basis, with early adoption permitted. We adopted this guidance as of May 26, 2025, and will update disclosures within our fiscal 2026 Annual Report on Form 10-K.In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40), which requires companies to provide more detailed information of certain income statement expenses within the footnotes to the financial statements. ASU 2024-03 is effective for our Annual Report on Form 10-K for the fiscal year ending May 28, 2028, and for our quarterly reports beginning fiscal year 2029, on a prospective basis, with early adoption permitted. We are evaluating the impact of adopting this ASU on our consolidated financial statements and related disclosures. There were no other accounting pronouncements recently issued that had or are expected to have a material impact on our consolidated financial statements.

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2. EARNINGS PER SHARE

The following table sets forth the computation of basic and diluted earnings per common share for the periods presented:Thirteen Weeks Ended(in millions, except per share amounts)August 24,2025August 25,2024Numerator:Net income$64.3 $127.4 Denominator:Basic weighted average common shares outstanding139.5 143.6 Add: Dilutive effect of employee incentive plans (a)0.3 0.6 Diluted weighted average common shares outstanding139.8 144.2 Earnings per share:Basic$0.46 $0.89 Diluted$0.46 $0.