Company: LW
Filing Date: 2025-09-30
Form Type: 10-Q
Source: 0001679273-25-000070
Chunk: 68

Company: Lamb Weston Holdings, Inc.
Filing Date: 2025-09-30
Form: 10-Q
Item: Part I, Item 8
Chunk 68
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 thirteen weeks ended August 24, 2025 and August 25, 2024, respectively;

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

(d)For more information about the Cost Savings Program and Restructuring Plan, see Footnote 4, Restructuring, 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.

(f)Pension settlement charge of $13.1 million ($10.1 million after-tax, or $0.07 per share) for the thirteen weeks ended August 24, 2025 to fully fund the Company’s defined benefit pension plan, enabling lump sum payments to participants and transferring the remaining obligations and related plan assets to an insurer through a group annuity contract.

24

The following tables reconcile gross profit to Adjusted Gross Profit, SG&A to Adjusted SG&A, and income tax expense to Adjusted Income Tax Expense.

For the Thirteen Weeks EndedAugust 24, 2025August 25, 2024August 24, 2025August 25, 2024August 24, 2025August 25, 2024(in millions)Gross ProfitSelling, General and AdministrativeIncome Tax Expense (Benefit)As reported$342.4 $356.0 $153.6 $143.9 $47.9 $50.8 Unrealized derivative gains(3.1)(2.9)1.8 6.0 (1.1)(2.3)Foreign currency exchange gains and losses— — 4.7 (0.6)(0.8)0.1 Blue chip swap transaction gains— — — 16.6 — — Stock-based compensation— — (10.6)(9.5)1.6 1.5 Items impacting comparability:Cost Savings Program, Restructuring Plan, and other expenses(0.4)— — — 7.7 — Shareholder activism expense— — (4.0)— 0.9 — Pension settlement— — (13.1)— 3