Company: THS
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0001320695-25-000007
Chunk: 89

Company: TreeHouse Foods, Inc.
Filing Date: 2025-02-14
Form: 10-K
Item: Item 7
Chunk 89
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 and $0.2 million were classified in Other operating expense, net. During the year ended December 31, 2023, $15.0 million were classified in General and administrative, $0.8 million were classified in Cost of sales, and $0.9 million were classified in Other operating expense, net.Refer to Note 7 to our Consolidated Financial Statements for additional information.(5)The Company has foreign currency denominated intercompany loans and incurred foreign currency gains/losses to re-measure the loans at quarter end. These amounts are non-cash and the loans are eliminated in consolidation.(6)The Company's derivative contracts are marked-to-market each period. The non-cash unrealized changes in fair value  recognized in Other expense (income), net, within the Consolidated Statements of Operations are treated as Non-GAAP adjustments. As the contracts are settled, realized gains and losses are recognized, and only the mark-to-market impacts are treated as Non-GAAP adjustments.Refer to Note 20 to our Consolidated Financial Statements for additional information.(7)The Company incurred fees related to shareholder activism which include directly applicable third-party advisory and professional service fees.(8)Tax indemnification represents the non-cash write off of indemnification assets that were recorded in connection with acquisitions from prior years. These write-offs arose as a result of the related uncertain tax position being released due to the statute of limitation lapse or settlement with taxing authorities.

40

The following tables provide a reconciliation of Adjusted net sales, Adjusted cost of sales, Adjusted gross profit, Adjusted total operating expenses, Adjusted operating income (loss), Adjusted total other expense (income), Adjusted income tax expense (benefit), and Adjusted net income from continuing operations to their most directly comparable GAAP measure, for each of the periods presented:

Year Ended December 31, 2024(Unaudited, in millions, except per share amounts)Net salesCost of salesGross profitTotal operating expensesOperating incomeTotal other expenseIncome tax expenseNet income from continuing operationsAs reported (GAAP)$3,354.0 $2,805.6 $548.4 $445.3 $103.1 $70.0 $6.2 $26.9 Adjustments:Product recalls and related costs(1)23.3 (17.8)41.1 — 41.1 — — 41.1 Growth, reinvestment,