Company: LW
Filing Date: 2025-04-03
Form Type: 10-Q
Source: 0001679273-25-000026
Chunk: 94

Company: Lamb Weston Holdings, Inc.
Filing Date: 2025-04-03
Form: 10-Q
Item: Part I, Item 8
Chunk 94
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7 million impacted unallocated corporate costs.

(b)Depreciation and amortization includes interest expense, income tax expense, and depreciation and amortization from equity method investments of $2.0 million and $2.1 million for the thirteen weeks ended February 23, 2025 and February 25, 2024, respectively; and $6.1 million and $6.4 million for the thirty-nine weeks ended February 23, 2025 and February 25, 2024, respectively. Depreciation expense does not include $4.5 million and $33.4 million of accelerated depreciation related to the closure of our manufacturing facility in Connell, Washington for the thirteen and thirty-nine weeks ended February 23, 2025, respectively.

(c)We enter into blue chip swap transactions to transfer U.S. dollars into Argentina primarily related to funding our previously announced capacity expansion project in Argentina. The blue chip swap rate can diverge significantly from Argentina's official exchange rate.

(d)Restructuring plan expenses relate to the Restructuring Plan. Refer to Footnote 4 in the Condensed Notes to Consolidated Financial Statements (unaudited), within “Part I, Item I. Financial Statements of this Form 10-Q.” 

(e)Represents advisory fees related to shareholder activism matters.

The following tables reconcile gross profit to Adjusted Gross Profit, SG&A to Adjusted SG&A, restructuring expense to Adjusted Restructuring Expense and equity method investment earnings to Adjusted Equity Method Investment Earnings.

For the Thirteen Weeks EndedFebruary 23, 2025February 25, 2024February 23, 2025February 25, 2024February 23, 2025February 25, 2024February 23, 2025February 25, 2024(in millions)Gross ProfitSelling, General and AdministrativeRestructuring ExpenseEquity Method Investment EarningsAs reported$422.5 $403.7 $164.2 $179.8 $9.6 $— $2.1 $1.0 Unrealized derivative gains and losses(2.8)23.3 3.1 (4.0)— — — — Foreign currency exchange gains and losses— — (7.0)(16.4)— — — — Blue chip swap transaction gains— — 0.6 7.4 —