Company: LW
Filing Date: 2025-08-07
Form Type: ARS
Source: 0001679273-25-000063
Chunk: 135

Company: Lamb Weston Holdings, Inc.
Filing Date: 2025-08-07
Form: ARS
Chunk 135
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 Balance Sheets. The fair values of cash equivalents, receivables, accounts payable and short-term debt approximate their carrying amounts due to their short duration. Non-financial assets such as property, plant and equipment, and intangible assets are recorded at fair value only if an impairment is recognized. Cost and equity investments are measured at fair value on a non-recurring basis. At May 25, 2025, we had $2,976.6 million of fixed-rate and $1,166.4 million of variable-rate debt outstanding. Based on current market rates, the fair value of our fixed-rate debt at May 25, 2025 was estimated to be $2,848 million. Any differences between the book value and fair value are due to the difference between the period-end market interest rate and the stated rate of our fixed-rate debt. We estimated the fair value of our fixed-rate debt using quoted market prices (Level 2 inputs) within the fair value hierarchy that is described above with an exception being the Term A-4 and Term A-5 Loan Facility, which is quoted at face value (Level 1 inputs). The fair value of our variable-rate term debt approximates the carrying amount as our cost of borrowing is variable and approximates current market prices. 12. STOCKHOLDERS’ EQUITY Our certificate of incorporation authorizes 600,000,000 shares of common stock and 60,000,000 shares of preferred stock. We had 139,237,760 and 143,666,656 shares of common stock issued and outstanding as of May 25, 2025 and May 26, 2024, respectively. Each share of common stock entitles the holder to one vote on matters to be voted on by our stockholders. No preferred stock was issued or outstanding as of May 25, 2025 and May 26, 2024. Share Repurchase Program On December 19, 2024, we announced that our Board increased our share repurchase authorization $250 million to an aggregate amount of $750 million. The program has no expiration date. During fiscal 2025, we purchased an aggregate of 4,867,449 shares for $282.0 million, or a weighted-average price of $57.94 per share. As of May 25, 2025, approximately $358 million remained authorized for share repurchases under the program. Dividends During fiscal 2025, 2024, and 2023, we paid