Company: WW
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029511
Chunk: 302

Company: WW INTERNATIONAL, INC.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 7
Chunk 302
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 the net impact of the $17.0 million of 2024 plan restructuring charges, the $5.1 million of 2023 plan restructuring charges and the $8 thousand of 2022 plan restructuring charges, and the impact of the $3.9 million of former CEO separation expenses; and (ii) adjusts the consolidated statements of operations for fiscal 2023 to exclude the impact of $3.6 million of franchise rights acquired and goodwill impairments, the net impact of the $53.7 million of 2023 plan restructuring charges, the $1.1 million of 2022 plan restructuring charges, the $0.1 million of 2021 plan restructuring charges and the reversal of $21 thousand of 2020 plan restructuring charges, and the impact of $8.6 million of acquisition transaction costs. See “Non-GAAP Financial Measures” above for an explanation of our use of non-GAAP financial measures.

Reducing leverage is a capital structure priority for the Company. As of December 28, 2024, our total debt less unamortized deferred financing costs and unamortized debt discount/net loss ratio was (4.1)x. As of December 28, 2024, our net debt/Adjusted EBITDAS ratio was 9.2x.

66

The table below sets forth the reconciliation for net debt, a non-GAAP financial measure, to total debt, the most comparable GAAP financial measure, for the fiscal year ended:

(in millions)

    December 28, 2024

    Total debt
     
    $
    1,445.0

    Less: Unamortized deferred financing costs

    6.9

    Less: Unamortized debt discount

    7.5

    Less: Cash on hand

    53.0

    Net debt
     
    $
    1,377.6

Note: Totals may not sum due to rounding.

We present EBITDAS, Adjusted EBITDAS and net debt/Adjusted EBITDAS because we consider them to be useful supplemental measures of our performance. In addition, we believe EBITDAS, Adjusted EBITDAS and net debt/Adjusted EBITDAS are useful to investors, analysts and rating agencies in measuring the ability of a company to meet its debt service obligations. See “—Non-GAAP Financial Measures” herein for an explanation of our use of these non-GAAP financial measures